From 1 November 2019, new national laws for gift cards sold to consumers will require:
• a minimum three-year expiry period; and
• expiry information displayed prominently on cards.
Most post-purchase fees will also be banned under the new laws.
Cards and vouchers sold before 1 November 2019 continue to have the same expiry period and terms and conditions that applied at the date they were sold.
If your business sells gift cards or vouchers, now is the time to do a stocktake and make sure your business complies with the new laws. To get ready, you should:
• update the terms and conditions on gift cards and vouchers, websites and other promotional materials;
• make note of the changes on any receipt issued when a gift card is purchased;
• update internal systems, training and compliance manuals; and
• place signage on gift card displays and at the point of sale.
When the new laws start, a penalty of up to $30,000 may be imposed if a non-compliant gift card is sold to a consumer.
The New Gift Card Laws page on the Australian Consumer Law website explains the changes and the requirements for selling gift cards.