'Tis the Season: Treasurer Michael Fitzgerald Offers Tips for Gift Card Givers and Receiver

DES MOINES, IA (11/22/2011)(readMedia)-- Gift cards are a popular gift. They are easy to ship and can be purchased anywhere. State Treasurer Michael L. Fitzgerald wants Iowa consumers to make sure they are able to take full advantage of this great gift with some basic tips on giving and receiving gift cards. "Nobody can afford to let money go to waste," said Fitzgerald. "These tips can help you protect the value of the gift cards you purchase for others, as well as the ones you receive during this holiday frenzy."

If you plan to give a card:

• Be aware of upfront fees and expiration. Verify if the card has an expiration date or fees that reduce the card's value overtime.

• Pay attention to expiration dates and inactivity fees. If you plan to give a card that charges fees, make sure they're clearly disclosed.

• Buy from the right place. Buy gift cards from reputable retailers where you know the recipient will shop.

If you receive a gift card:

• Use it as soon as possible. You won't have to worry about inactivity fees or expiration dates.

• Save the gift card package and receipt. Having these will make replacing a lost or stolen card much easier.

• Know the balance. Many gift card providers will let you check your balance on their websites.

"We encourage retailers to honor all of the gift cards they sell, even those that have expired," Fitzgerald stated. "In doing so, retailers stay on friendly terms with their customers."

Current state law requires that the expiration date and fees be clearly displayed on any gift card with such restrictions. Consumers with questions or concerns regarding an expired gift card that a retailer will not honor are encouraged to contact the State Treasurer's office. Please provide a copy of the gift card and a brief letter stating the circumstances of the complaint. The information can be sent to the address below or emailed to upreport@iowa.gov.

Michael L. Fitzgerald

Treasurer of the State of Iowa

Unclaimed Property Reporting Desk

State Capitol, Des Moines, Iowa 50319