Martin Lewis Warns Shoppers: Check Gift Card Expiry Dates Now

Martin Lewis, a prominent financial expert, has issued a timely warning to shoppers regarding gift cards and their often-overlooked expiry dates. On a recent episode of his BBC podcast, Lewis discussed various financial matters, including inheritance tax and the impending self-assessment deadline. However, it was his remarks about gift cards that captured significant attention, urging consumers to be vigilant about potential pitfalls.

Lewis expressed his strong disapproval of gift cards, describing himself as “anti gift card.” He highlighted critical issues that consumers should be aware of, particularly the absence of legal recourse once a gift card expires. “If the firm goes bust, they are worthless,” he stated, emphasizing that many gift cards now come with specific expiration dates.

Understanding Expiry Dates

According to Lewis, it is essential for consumers to be informed about gift card terms before making a purchase. He noted, “The information about expiry dates should have been given before the purchase,” advocating for clearer practices from companies. Ideally, this information should be printed on the card, voucher, or sent via email upon purchase.

Lewis further elaborated on the importance of transparency regarding when the expiry period begins. “Is it from activation, or is it from gift?” he questioned, underscoring the need for clarity in these terms.

For those holding gift cards that are nearing their expiration, Lewis offered practical advice. He suggested spending a portion of the balance before the card expires. “They often give you a new gift card for the remainder, which should have a longer expiry date,” he explained.

For instance, gift cards from John Lewis and Waitrose expire 24 months after purchase or the last use. Importantly, checking the balance or making a purchase resets the expiry period. Similarly, Primark follows a 24-month window that renews under the same conditions.

Options After Expiration

Even if a gift card has expired, Lewis encourages consumers to explore their options. He advises individuals to approach larger retailers for possible extensions, particularly if the store is a well-known brand. “If it was unclear about the expiry date, you could complain to your consumer rights,” he noted. Companies may find themselves in breach of the law for failing to provide transparent information about expiry dates, potentially allowing consumers to reclaim their funds.

For those seeking more financial guidance, Lewis’s podcast offers a wealth of tips and insights into money-saving strategies and consumer rights.

In a climate where many consumers are utilizing gift cards as thoughtful gifts, understanding the implications of expiry dates is crucial. By taking proactive steps, shoppers can safeguard their purchases and ensure that their thoughtful gestures do not become wasted opportunities.