How to maximize your gift card value this holiday season

To get the most out of your gift card value, it’s important to understand the rules and regulations in BC. Here’s a guide to maximize the value of your gift cards this holiday season.

How to maximize your gift card value this holiday season

Gift cards offer flexibility and convenience, making them a classic gift for friends and family. Whether you’re giving or receiving gift cards, knowing the rules and following these basic tips will help you use them to their fullest potential. Here’s what you need to know:

1. Learn the rules for each type of gift card

• Gift cards for a specific good or service: These cards are allowed to expire or charge fees. For example, a gift card for a donut and coffee from a cafe or a gift card for a manicure at a spa.
• Gift cards with a dollar value: Most gift cards with a dollar value ($50 to a spa) are typically not allowed to expire or have fees. There are exceptions to this rule, like when these cards are issued as part of a promotion (see next tip).
• Promotional gift cards: Gift cards that are part of a promotion or sold at an auction are allowed to expire and have fees. Make sure you read the fine print!
• Mall cards: Gift cards that can be used towards multiple unaffiliated sellers are allowed to charge fees, which means your balance can diminish over time.

Learn more about the specific rules here.

2. Maximize the value by using gift cards wisely

• Read the terms and conditions: Understand any potential fees, expiry dates, or terms, conditions, or limitations that could affect how you use the card.
• Use the card promptly: Even if there’s no expiry date, the smartest thing you can do is to use the card promptly to avoid losing or forgetting about it.
• Check for tampering before buying: Ensure the card hasn’t been tampered with before purchasing.
• Keep the receipt: If for some reason there’s an issue with the card, keeping the receipt could help you prove your purchase to the business (and it may also include the gift card number). There is sometimes an option to load a gift card to the store’s website (or register it). These may be other ways to protect your purchase.

3. Plan ahead and be savvy

• Plan your purchases: Use the card for planned purchases to avoid wasting money on things you don’t truly need.
• Combine with other offers: Look for sales or promotions to maximize the card’s value.
• Gift it: If you can’t use the card, consider giving it to someone who can before it expires.

Where to go for help

If you want to learn more about BC’s gift card rules, explore more information and resources about gift cards on our website.

Have an issue with a prepaid credit card? Prepaid cards issues by a financial institution and linked to payment card networks (like VISA and Mastercard) are regulated at the federal level by the Financial Consumer Agency of Canada. Learn more about the rules for these cards on their website.

If you believe a business is not abiding by the gift card rules in BC, the first step is to speak with them directly about your concern. Consider sharing the resources from our website. We find that most businesses are willing to change their practices if they realize they are unintentionally violating the rules. If you can’t work it out with them, you can submit a complaint to our office for our review.

About Consumer Protection BC 

We are not-for-profit regulator responsible for overseeing certain industries and specific consumer transactions in British Columbia. If your concern is captured under the laws we enforce, we will use the tools at our disposal to assist you. If we can’t help you directly, we will try to offer a referral to a relevant organization, if one exists. Other times, court or legal assistance may be the best option. Explore our website at www.consumerprotectionbc.ca.