Martin Lewis Warns Shoppers About Gift Card Expiry Dates

Financial expert Martin Lewis has advised consumers to be aware of gift card expiry dates to avoid losing their money. During a recent episode of his BBC podcast, he highlighted the potential pitfalls of gift cards, especially regarding their limited validity and lack of legal protections once expired.

Lewis expressed his concerns, stating that gift cards might seem like a convenient choice for gifting, but they can lead to significant losses. He pointed out that if a retailer goes out of business, the value of the gift card becomes worthless. Additionally, many cards now come with specified expiry dates, which can catch unsuspecting consumers off guard.

In his podcast, Lewis emphasized that purchasers should receive clear information about expiry dates at the time of buying the gift card. He stated, “The information about expiry dates should have been given before the purchase. It’s good practice from the companies to have it printed on the card or the voucher, or on the email that you get.” He further explained that clarity regarding when the expiry period begins—whether from the date of purchase or activation—is essential.

For those holding gift cards close to their expiration, Lewis offered practical advice. He suggested that consumers should consider making a small purchase with the gift card before it expires. This often results in receiving a new card for the remaining balance, which typically comes with a longer validity period. For example, John Lewis and Waitrose gift cards expire 24 months after the date of purchase or last use, but checking the balance or making a purchase resets this timeframe.

Similar policies apply to Primark, which also offers a 24-month window that extends when a consumer makes a purchase or checks their card balance.

Even if a gift card has expired, Lewis suggests that consumers should not immediately give up. He advised that inquiries for extensions could be made at larger retailers, particularly well-known brands. If a consumer feels misled about the expiry date, they may have grounds to file a complaint based on consumer rights laws, potentially leading to a refund.

For further advice on saving money and consumer rights, visit the newly launched Everything Money website, where the latest tips and updates on consumer issues are regularly provided.