Gordon Burns September 13, 7:
More Amazon Gift Cards
An issuer may honor a gift certificate that has expired on or before the effective date of this act. The consideration paid for an unredeemed gift certificate or credit memo is the property of the issuer of the unredeemed gift certificate or credit memo.
An unredeemed gift certificate or credit memo is subject only to any rights of a purchaser or owner thereof and is not subject to a claim made by any state acting on behalf of a purchaser or owner.
It is the intent of the Legislature that this section apply to the custodial holding of unredeemed gift certificates and credit memos. The consideration paid for such a gift certificate or credit memo is the property of the owner of the gift certificate or credit memo.
The expiration date shall be not less than five years after the date of issuance; provided that the expiration date of certificates issued only in paper form shall be not less than two years after the date of issuance. If the gift certificate does not have an expiration date, it shall be valid in perpetuity.
In the case of a gift certificate without an expiration date prominently displayed on its face, the amount presumed abandoned is the price paid by the purchaser for the gift certificate. For purposes of this act, any gift certificate usable with multiple sellers of goods or services is not included in the definition.
The statement may appear on the front or back of the gift certificate in a location where it is visible to any purchaser prior to the purchase. Does not apply to any gift certificate issued prior to Jan. Any gift certificate issued prior to Jan. After property is abandoned, it reverts to the state. Notwithstanding the time limitation in subsection 1, a gift certificate redeemable for merchandise only that is not subject to an expiration date and that is not subject to a deduction from the face value of the gift certificate for failure of the owner of the gift certificate to present the gift certificate in a timely manner, or subject to any other charge or service fee, which card remains unpresented, shall continue in force and be eligible for presentation for an indefinite period of time, and shall not be subject to a presumption of abandonment.
A gift certificate or gift card sold without an expiration date is valid until redeemed or replaced. If no expiration date is printed on the front or back of the card, it is presumed valid until it is redeemed or replaced for a new gift card. A gift certificate or gift card shall include an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value of the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods, food, services, credit or money of at least an equal value.
A gift certificate sold without an expiration date shall be valid until redeemed or replaced. Gift certificate is presumed abandoned three years after Dec. These transaction fees must be disclosed in a separate writing prior to the initial issuance or referenced on the gift obligation or stored-value card. The amount of the deduction is limited to an amount that is not unconscionable.
Nothing in this section prevents the holder from deducting fees or charges in lieu of those fees or charges related to the owner's failure to claim the property within a specified period of time when such fees or charges are deducted from the property before the date the property is presumed abandoned.
A gift certificate shall include an electronic card with a banked dollar value, a merchandise credit, a certificate where the issuer has received payment for the full face value for the future purchase or delivery of goods or services and any other medium that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card or other medium for goods, food, services, credit or money of at least an equal value.
This section shall not apply when the purchaser of the gift certificate is not obligated to pay for it until the time of use. As used in this subdivision, "financial institution" means a bank, bank and trust, national bank, savings bank, savings and loan association, credit union, or money transmitter organized under the laws of this state, another state, the District of Columbia, the United States, or any territory or protectorate of the United States and their respective subsidiaries, affiliates, or holding companies.
Code, 49 USC to , or a permit issued under chapter of title 49 of the U. Code, 49 USC to As used in this section, "service fee" does not include any fee charged to and paid by a consumer in connection with the sale of a gift certificate, unless the fee is deducted or debited from the face value of the gift certificate.
The provisions of this section shall not apply to gift certificates issued by a federally chartered or state-chartered bank, bank and trust, savings bank, savings association, or credit union, or by an operating subsidiary or other affiliate of any of them, and that can be used at multiple sellers of goods and services, provided that the issuer discloses any expiration date and fee associated with the gift certificate.
Gift certificates that are redeemable in merchandise only shall be reportable at a rate equal to 60 percent of their respective face value. The state treasurer shall reimburse the owner the full face value. The amount considered abandoned for a person who sells more than the amount that triggers presumption of abandonment is the value of gift certificates greater than that trigger. The statement may appear on the front or back of the gift certificate or gift card in a location where it is visible to a purchaser prior to the purchase.
Excludes general-use prepaid cards. The term includes, without limitation, a gift card, certificate or similar instrument. If a gift certificate is issued or sold in this state and the seller or issuer does not obtain and maintain in his records the name and address of the owner of the gift certificate, the address of the owner of the gift certificate shall be deemed to be the address of the office of the state treasurer in Carson City.
However, a stored value card may contain an expiration date to the extent permitted by federal law that applies only to the card or other tangible medium through which the underlying funds can be accessed, provided those underlying funds do not expire. The state treasurer may adopt regulations regarding the establishment of activation, issuance, purchase or similar fees, fees for adding value to an existing stored value card, and replacement card fees.
A general purpose reloadable card shall not be subject to the provisions of this subsection. Failure to provide requested cash redemption for each stored value card shall be considered a separate violation. The proceeds of a general purpose reloadable card presumed abandoned shall be the value of the card, in money, on the date the general purpose reloadable card is presumed abandoned.
The proceeds of all other stored value cards presumed abandoned shall be 60 percent of the value of the card, in money, on the date the stored value card is presumed abandoned. The provisions of this section shall not apply to gift cards that are issued by a financial institution or its operating subsidiary and that are usable at multiple unaffiliated sellers of goods or services. The disclosure must be visible on the gift card itself. No person, firm, or corporation engaged in commerce shall charge any maintenance fee on a gift card for one calendar year following the date of the purchase of the gift card.
The term includes a record that contains a microprocessor chip, magnetic strip, or other means of storage of information that is prefunded and for which the value is decreased upon each use; a gift card; an electronic gift card; an online gift account; a stored-value card; a store card; a prepaid telephone card; or a similar record or card.
The term does not include a general-use prepaid card issued by a prepaid card issuer, including a plastic card or other electronic payment device that is usable at multiple, unaffiliated merchants or service providers or at an automatic teller machine, and purchased or loaded on a prepaid basis; a general-use prepaid card issued by a prepaid card issuer and purchased by a person that is not an individual; or a debit card linked to a deposit account.
Gift certificates are not specifically included. A gift card sold without an expiration date is valid until redeemed or replaced with new card. A person may sell a gift card that has an expiration date if: The following property held or owing by a business association is presumed abandoned and unclaimed: The consideration paid for a gift certificate or gift card which has remained unredeemed for two years or more after its redemption period has expired or for five years or more from the date of issuance if no redemption period is specified.
The provisions of this clause shall not apply to a qualified gift certificate. This expiration date shall be clearly stated in the card in order to be valid. Otherwise, it shall be understood that the card has no expiration date.
The business for which the gift card was issued shall have the exclusive obligation to issue the reimbursement. This term includes a gift card used for the same purpose as a gift certificate.
Looking for the right words to convey your wonderful thoughts and wishes to your loved ones on their birthday and success? Worry not, if the tons of messages on the internet have left you bewildered. Just check out Dgreetings and you would come across a fabulous range of birthday, anniversary, thanks, congrats, and everyday e-cards.
Just choose the card that conveys your true feelings and send it across to your near and dear ones through email or post them to Facebook, pinterest and twitter. These cards would surely make the special day of your loved one even more special. I Love You Messages. Proposal Ideas Love Poems. Love Horoscope Love letters Flirting Tips. Friendship Cards Gift Ideas. Sweetest Day [20 Oct. Best Wishes for your loved ones Birthday Love Anniversary Miss You. Nabanco was the developer of the first third-party platform for the processing of giftcards using existing payment infrastructure.
Neiman Marcus and Blockbuster were later followed by the Mobil gas card which initially offered prepaid phone value provided by MCI. Later this feature was dropped as it was not profitable for both Kmart and Mobil. The Kmart Mags Pangilinan Cash Card was the first replacement for cash returns when a shopper did not have a receipt for a gift.
This practice of giving a cash card in place of cash for non-receipted returns is common place today with most merchants. From these early introductions, other retailers began to adapt a giftcard program to replace their gift certificate programs. A gift card may resemble a credit card or display a specific theme on a plastic card the size of a credit card.
The card is identified by a specific number or code, not usually with an individual name, and thus could be used by anybody. They are backed by an on-line electronic system for authorization.
Some gift cards can be reloaded by payment and can be used thus multiple times. Cards may have a barcode or magnetic strip , which is read by an electronic credit card machine. Many cards have no value until they are sold, at which time the cashier enters the amount which the customer wishes to put on the card.
This amount is rarely stored on the card but is instead noted in the store's database, which is crosslinked to the card ID. Gift cards thus are generally not stored-value cards as used in many public transport systems or library photocopiers, where a simplified system with no network stores the value only on the card itself.
To thwart counterfeiting, the data is encrypted. The magnetic strip is also often placed differently than on credit cards, so they cannot be read or written with standard equipment.
Other gift cards may have a set value and need to be activated by calling a specific number. Gift cards can also be custom tailored to meet specific needs. By adding a custom message or name on the front of the card, it can make for an individualized gift or incentive to an employee to show how greatly they are appreciated.
Gift cards are divided into "open loop" or "network" cards and "closed loop" cards. The former are issued by banks or credit card companies and can be redeemed by different establishments, the latter by a specific store or restaurant and can be only redeemed by the issuing provider.
The latter, however, tend to have fewer problems with card value decay and fees. A third form is the "hybrid closed loop" card where the issuer has bundled a number of closed loop cards; an example is free gift cards for a specific mall.
Gift cards differ from gift certificates , in that the latter are usually sold as a paper document with an authorized signature by a restaurant, store, or other individual establishment as a voucher for a future service; there is no electronic authorization.
A gift certificate may or may not have an expiration date and generally has no administrative fees. Bank-issued gift cards may be used in lieu of checks as a way to disburse rebate funds.
Some retailers use the gift card system for refunds in lieu of cash thereby assuring that the customer will spend the funds at their store.
A Charity Gift Card allows the gift giver to make a charitable donation, and the gift recipient to choose a charity that will receive the donation. Mobile gift cards are delivered to mobile phones via email or SMS and phone apps allow users to carry only their cell phone. Benefits include tying them to a particular phone number and ease of distribution.
Customers who viewed this item also viewed
The ciproprescription.ga Visa ® Gift Cards and The ciproprescription.ga Visa Gift Virtual Account are issued by MetaBank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. The Visa Gift Card can be used everywhere Visa debit cards are accepted in the US. To check the balance of your gift card you will need the card number and, if applicable, the PIN or security code located on the back of the card. Most retailers & restaurants allow you to check the balance online, by calling the toll-free number located on the card, or by visiting them in person. To check your card balance or recent activity, enter the card number and 6-digit security code shown on your card. The card number is a digit number found on either the front or back of your card. Card Lookup. Card Number. digit number without spaces or hyphens if present. Security Code.