Washington State Bans Gift Card Expiration
Peter Lewis reports in the Seattle Times on a new law in Washington state taking effect July 1st that modifies a number of gift card characteristics.
[Update: Slashdot has picked up a discussion on this topic.]
The new legislation makes Washington one of 15 to 20 states that have passed or are in the process of adopting laws that ban expiration dates on gift certificates, according to Dan Horne, marketing professor at Providence (Rhode Island) College, who for a decade has been studying the use of gift certificates.
Washington's new statute also mostly does away with service charges such as "dormancy" fees — sometimes $1 or $2 a month — that kick in if certificates go unused after a certain period. The law specifically defines gift certificates to include gift cards but carves out exceptions for those issued for promotions and charities, as well as those issued by financial institutions.
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