There’s interesting and complex things going on with gift cards around the world, and their popularity is rising among retailers because they deliver a huge profit (20% are bought but never used!).

My recent experience with Village Gold Passes (received as gifts, but we were unable to use them before they ‘timed out’) left me wondering whether increasing that 20% (by, say, targeting your advertising at the people who are least likely to redeem them) wouldn’t be a big win for a business.

Putting aside for a moment my serious concerns about the morality of the scam, it’s pretty creative stuff.

Bunnings gift cards never expire.

Peak Warming Man said:

Bunnings gift cards never expire.

never last long enough.

Peak Warming Man said:

Bunnings gift cards never expire.

Well, aside from the fact that they’re only valid for a year from date of purchase.

Rule 303 said:

There’s interesting and complex things going on with gift cards around the world, and their popularity is rising among retailers because they deliver a huge profit (20% are bought but never used!).

My recent experience with Village Gold Passes (received as gifts, but we were unable to use them before they ‘timed out’) left me wondering whether increasing that 20% (by, say, targeting your advertising at the people who are least likely to redeem them) wouldn’t be a big win for a business.

Putting aside for a moment my serious concerns about the morality of the scam, it’s pretty creative stuff.

I guess there are opportunities there. I also guess they are already being exploited, but explained to the people doing the dirty work in such a way that they don’t need to feel guilty about it.

I still don’t get why expiring gift cards are legal.

There’s even a government site somewhere explaining how a gift card is different to money, so it’s OK that they expire, which is bullshit.

At BN we have to push gift cards. They don’t expire, but people forget about them or forget to use the last few dollars on them.

Rule 303 said:

There’s interesting and complex things going on with gift cards around the world, and their popularity is rising among retailers because they deliver a huge profit (20% are bought but never used!).

My recent experience with Village Gold Passes (received as gifts, but we were unable to use them before they ‘timed out’) left me wondering whether increasing that 20% (by, say, targeting your advertising at the people who are least likely to redeem them) wouldn’t be a big win for a business.

Putting aside for a moment my serious concerns about the morality of the scam, it’s pretty creative stuff.

Linked article is well worth a read.

The Rev Dodgson said:

Rule 303 said:

There’s interesting and complex things going on with gift cards around the world, and their popularity is rising among retailers because they deliver a huge profit (20% are bought but never used!).

My recent experience with Village Gold Passes (received as gifts, but we were unable to use them before they ‘timed out’) left me wondering whether increasing that 20% (by, say, targeting your advertising at the people who are least likely to redeem them) wouldn’t be a big win for a business.

Putting aside for a moment my serious concerns about the morality of the scam, it’s pretty creative stuff.

I guess there are opportunities there. I also guess they are already being exploited, but explained to the people doing the dirty work in such a way that they don’t need to feel guilty about it.

I still don’t get why expiring gift cards are legal.

There’s even a government site somewhere explaining how a gift card is different to money, so it’s OK that they expire, which is bullshit.

I still don’t get why expiring gift cards are legal.

Its like an expiring mobile phone plan

similar in the sense that if you don’t use them in that time, the product expires

when you buy a gift card you are buying a product not a credit card

there is probably something in the fine print about you agreeing to buy the product in terms and agreements

Would be a nice earner I imagine. As cards expire a figure is transferred from liability to income.

I suppose expiring gift cards is alleviated by the “fact” anyone with an email address constantly wins gift cards often without even entering a competition and is just randomly chosen.

throws spanner in works

Dick Smith gift cards.

AwesomeO said:

Would be a nice earner I imagine. As cards expire a figure is transferred from liability to income.

And they would be earning interest on it.

Woodie said:

throws spanner in works

Dick Smith gift cards.

Dick Smith sell online, so the cards presumably can be used online.

Tau.Neutrino said:

I still don’t get why expiring gift cards are legal.

Its like an expiring mobile phone plan

similar in the sense that if you don’t use them in that time, the product expires

when you buy a gift card you are buying a product not a credit card

there is probably something in the fine print about you agreeing to buy the product in terms and agreements

No, in general, it is not like an expiring mobile phone plan.

A mobile phone plan provides a service for a specified period.

A gift card is like money, so if the card can be exchanged for a physical product, then it should be exchangeable at any time in the future.

Just as if you had paid cash in advance, and agreed to pick up the product some time later.

The Rev Dodgson said:

Tau.Neutrino said:

I still don’t get why expiring gift cards are legal.

Its like an expiring mobile phone plan

similar in the sense that if you don’t use them in that time, the product expires

when you buy a gift card you are buying a product not a credit card

there is probably something in the fine print about you agreeing to buy the product in terms and agreements

No, in general, it is not like an expiring mobile phone plan.

A mobile phone plan provides a service for a specified period.

A gift card is like money, so if the card can be exchanged for a physical product, then it should be exchangeable at any time in the future.

Just as if you had paid cash in advance, and agreed to pick up the product some time later.

A mobile phone plan provides a service for a specified period.

Your still buying a product.

Can you use a JB HiFI gift card at Myers?

Can you use Eftpos where they dont have it? it still money on a card

credit cards expire as well

can you renew gift cards?

If you want gift cards and prepaid cards to be like credit cards then regulation is needed.

Tau.Neutrino said:

Woodie said:

throws spanner in works

Dick Smith gift cards.

Dick Smith sell online, so the cards presumably can be used online.

Dick Smith went broke and closed down with millions in gift certificates owing.

http://www.news.com.au/finance/business/retail/unlucky-shopper-bought-3600-in-dick-smith-gift-cards-from-coles-before-cutoff-date/news-story/6bb926eeff89a198b47a492e7dde5140

https://www.choice.com.au/shopping/consumer-rights-and-advice/your-rights/articles/no-refund-in-sight-for-dick-smith-gift-card-holders-140716

Tau.Neutrino said:

The Rev Dodgson said:

Tau.Neutrino said:

I still don’t get why expiring gift cards are legal.

Its like an expiring mobile phone plan

similar in the sense that if you don’t use them in that time, the product expires

when you buy a gift card you are buying a product not a credit card

there is probably something in the fine print about you agreeing to buy the product in terms and agreements

No, in general, it is not like an expiring mobile phone plan.

A mobile phone plan provides a service for a specified period.

A gift card is like money, so if the card can be exchanged for a physical product, then it should be exchangeable at any time in the future.

Just as if you had paid cash in advance, and agreed to pick up the product some time later.

A mobile phone plan provides a service for a specified period.

Your still buying a product.

Can you use a JB HiFI gift card at Myers?

Can you use Eftpos where they dont have it? it still money on a card

credit cards expire as well

can you renew gift cards?

If you want gift cards and prepaid cards to be like credit cards then regulation is needed.

You’ll notice on gift cards that the company has its branding on it.

just like buying a monthly plan that runs for a specified period

buying gift card that also run for a specified period because you have bought a branded product, not a credit card.

Why many people read the terms and conditions when buying a product?

The Rev Dodgson said:

There’s even a government site somewhere explaining how a gift card is different to money, so it’s OK that they expire, which is bullshit.

Yeah, but it’s one thing to ‘expire’ them, but another act entirely to deliberately market them to a sector who you know to be least likely to redeem them, or to create conditions which would make it impossible (or nearly impossible) for the holder to redeem them.

Woodie said:

Tau.Neutrino said:

Woodie said:

throws spanner in works

Dick Smith gift cards.

Dick Smith sell online, so the cards presumably can be used online.

Dick Smith went broke and closed down with millions in gift certificates owing.

http://www.news.com.au/finance/business/retail/unlucky-shopper-bought-3600-in-dick-smith-gift-cards-from-coles-before-cutoff-date/news-story/6bb926eeff89a198b47a492e7dde5140

https://www.choice.com.au/shopping/consumer-rights-and-advice/your-rights/articles/no-refund-in-sight-for-dick-smith-gift-card-holders-140716

Those gift cards are classified as products that were bought as far as I understand

Difference Between Gift Card and Credit Card
http://www.differencebetween.com/difference-between-gift-card-and-vs-credit-card/

Why Prepaid Cards and Gift Cards Are Not the Same
http://www.huffingtonpost.com/creditcom/gift-card-vs-prepaid_b_2129903.html

Those are American articles.

Ill look for some Australian ones

Tau.Neutrino said:

If you want gift cards and prepaid cards to be like credit cards then regulation is needed.

I don’t want them to be like credit cards, I want them to be like cash, except only redeemable at the place where hey were issued.

Yes, that needs regulation.

(p.s. when credit cards expire, you don’t lose any money).

Tau.Neutrino said:

You’ll notice on gift cards that the company has its branding on it.

just like buying a monthly plan that runs for a specified period

buying gift card that also run for a specified period because you have bought a branded product, not a credit card.

Why many people read the terms and conditions when buying a product?

It not a question of reading the bleeding conditions.

It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.

2 Australian articles from www.moneysmart.gov.au explaining Pre Paid cards and Gift Cards

Prepaid cards

Gift cards

FAQ from Coles Myer

FAQ from Coles Myer

ChrispenEvan said:

See. Christ is into porn pawn.

ChrispenEvan said:

That’s very amusing
I always thought an amusing Jesus poster would be a take on the Terminator
Jesus dressed as the Arnie Terminator saying “Come with me if you want to live, for eternity in heaven”

Tau.Neutrino said:

2 Australian articles from www.moneysmart.gov.au explaining Pre Paid cards and Gift Cards

Prepaid cards

Gift cards

FAQ from Coles Myer

FAQ from Coles Myer

Those links just say how things work at the moment.

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

dv said:

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

voucher

dv said:

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

Clever marketing, innit?

diddly-squat said:

dv said:

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

voucher

token

The Rev Dodgson said:

Tau.Neutrino said:

You’ll notice on gift cards that the company has its branding on it.

just like buying a monthly plan that runs for a specified period

buying gift card that also run for a specified period because you have bought a branded product, not a credit card.

Why many people read the terms and conditions when buying a product?

It not a question of reading the bleeding conditions.

It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.

>>>It not a question of reading the bleeding conditions.
Why isn’t it, aren’t the things you disagree with, written in the terms and conditions?

How many people dont read the terms and conditions?

>>>It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.
If people disagree with terms and conditions of products then regulation is required

Tau.Neutrino said:

>>>It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.
If people disagree with terms and conditions of products then regulation is required

That’s what I am saying.

The people who make money out of gift cards should be required to provide reasonable conditions.

The Rev Dodgson said:

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

The Rev Dodgson said:

diddly-squat said:

dv said:

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

voucher

token

greeting card is the correct term.

Witty Rejoinder said:

The Rev Dodgson said:

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

Not really. The store has the use of your money until the card is redeemed. With inflation the card is worth less in real terms as time passes. Win, win for the store.

The Rev Dodgson said:

diddly-squat said:

dv said:

Is there another name for this thing?

To me, a gift card is a card that accompanies a gift.

voucher

token

Witty Rejoinder said:

The Rev Dodgson said:

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

Witty Rejoinder said:

The Rev Dodgson said:

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

To my mind they could remove the expiry and still be profitable. After all, the longer someone holds on to it, the less it is worth.
But ultimately I don’t think there needs to be legislation on this other than to require that the conditions are made plain before purchase. This is not an essential service. If you don’t like the terms, do not buy it.

Expired gift cards money probably finances black ops around the world, I reckon you could even float that conspiracy

The Rev Dodgson said:

Tau.Neutrino said:

2 Australian articles from www.moneysmart.gov.au explaining Pre Paid cards and Gift Cards

Prepaid cards

Gift cards

FAQ from Coles Myer

FAQ from Coles Myer

Those links just say how things work at the moment.

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

ok, but if people dont like it then its still regulation that needs to be changed.

People Are Going Ballistic Over Being Stuck With Expired Gift Cards

Expired gift cards a Christmas frustration

Beware the hidden traps of gift cards

The gift card that stops giving

https://www.choice.com.au/about-us/media-releases/2014/december/gift-cards-that-stop-giving

http://forums.whirlpool.net.au/archive/2333565

and its like the same with Australians getting ripped off in many other ways

NOTHING GETS DONE ABOUT IT

my caps

When transferring money why does it take so long?

We know it can be done instantly but some banks and paypal take 3 to 7 days.

What happens to that money in the meantime?

Who has it, where is it, is it somewhere earning interest without your knowledge or consent?

What about international money exchange fees? are they fair?

Tau.Neutrino said:

NOTHING GETS DONE ABOUT IT

I’ve never had trouble using expired/OOD gift cards. eg. Friends seem to think I’ve got a Myer store just around the corner, when the nearest one is a 4 hours drive away.

Ones I’ve still got.

Coles Group & Myer $50 exp 04/16
“Wish” (Woolies, Big W BWS) etc $50 no date on it.
Quickflix $45.98 who knows exp date?
JB Hi Fi $50 exp 08/15

Woodie said:

Tau.Neutrino said:

NOTHING GETS DONE ABOUT IT

I’ve never had trouble using expired/OOD gift cards. eg. Friends seem to think I’ve got a Myer store just around the corner, when the nearest one is a 4 hours drive away.

Ones I’ve still got.

Coles Group & Myer $50 exp 04/16
“Wish” (Woolies, Big W BWS) etc $50 no date on it.
Quickflix $45.98 who knows exp date?
JB Hi Fi $50 exp 08/15

I’ve got one from Dymocks in my wallet, expired in 2014.

I have added expired gift and prepaid cards to Australians getting ripped off mind map, thanks.

https://coggle-downloads.s3.amazonaws.com/78aea2ccbac0d0ecfb5b54511c0c90a7830196eade6b9314bea5fad41ff4e3ba/Australians_Getting_Ripped_Off.pdf
https://coggle-downloads.s3.amazonaws.com/78aea2ccbac0d0ecfb5b54511c0c90a7830196eade6b9314bea5fad41ff4e3ba/Australians_Getting_Ripped_Off.png

I have never had any difficulties using gift cards before their expiry dates.

Mind you I had a gift card for Masters that had expired but they honoured it anyway.

Witty Rejoinder said:

I have never had any difficulties using gift cards before their expiry dates.

A few more years and you’ll need the nurse to help you.

Peak Warming Man said:

Mind you I had a gift card for Masters that had expired but they honoured it anyway.

I got a discount card through work for Masters. I tried to use it the other day. Musta got there before they opened. The doors were locked. Bit odd. Thought they would have opened well before 3.30 in the afternoon, but.

The Rev Dodgson said:

Tau.Neutrino said:

>>>It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.
If people disagree with terms and conditions of products then regulation is required

That’s what I am saying.

The people who make money out of gift cards should be required to provide reasonable conditions.

what would you consider to be reasonable

The Rev Dodgson said:

Witty Rejoinder said:

The Rev Dodgson said:

They make no attempt to justify the totally unreasonable conditions applied to gift cards.

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

diddly-squat said:

The Rev Dodgson said:

Witty Rejoinder said:

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

We all agree then that there needs to be some industry reform.

Tau.Neutrino said:

diddly-squat said:

The Rev Dodgson said:

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

We all agree then that there needs to be some industry reform.

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

diddly-squat said:

Tau.Neutrino said:

diddly-squat said:

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

We all agree then that there needs to be some industry reform.

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

If the majority of people agree that some terms and conditions are unreasonable with some companies then changes to law are needed

diddly-squat said:

The Rev Dodgson said:

Tau.Neutrino said:

>>>It’s a question of ensuring that customers are treated in a reasonable way, just as many other legal regulations require.
If people disagree with terms and conditions of products then regulation is required

That’s what I am saying.

The people who make money out of gift cards should be required to provide reasonable conditions.

what would you consider to be reasonable

Similar conditions to an advance cash payment (which is what they are).

Tau.Neutrino said:

diddly-squat said:

Tau.Neutrino said:

We all agree then that there needs to be some industry reform.

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

If the majority of people agree that some terms and conditions are unreasonable with some companies then changes to law are needed

that is a complete nonsense statement

diddly-squat said:

The Rev Dodgson said:

Witty Rejoinder said:

I don’t think they are totally unreasonable. Gift cards are a liability that must be accounted for somewhere and to do so for an indefinite period places an unreasonable expectation on the company. Would 2 year expiry be okay? 5 years? There has to be a expiry date, albeit arbitrary somewhere.

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

The Rev Dodgson said:

diddly-squat said:

The Rev Dodgson said:

Why does there have to be an expiry date?

They have the money, and can do what they like with it. For the company the longer the period before they have to provide goods in return the better.

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

so you would be happy to carry an indefinate liability?

diddly-squat said:

Tau.Neutrino said:

diddly-squat said:

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

We all agree then that there needs to be some industry reform.

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

There is a liability and a corresponding (and greater) cash receipt. It is only reasonable that they should expire if the cash is returned.

diddly-squat said:

Tau.Neutrino said:

diddly-squat said:

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

If the majority of people agree that some terms and conditions are unreasonable with some companies then changes to law are needed

that is a complete nonsense statement

Can you rearrange it for me?

diddly-squat said:

The Rev Dodgson said:

diddly-squat said:

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

so you would be happy to carry an indefinate liability?

Did you read what I wrote?

It’s not an indefinite liability, because either side can agree to cancellation of the agreement on return of the mney.

Tau.Neutrino said:

diddly-squat said:

Tau.Neutrino said:

If the majority of people agree that some terms and conditions are unreasonable with some companies then changes to law are needed

that is a complete nonsense statement

Can you rearrange it for me?

companies are free set the terms and conditions associated with the sale of their goods and/or services.

if consumers don’t like them they are free to vote with their feet

The Rev Dodgson said:

diddly-squat said:

The Rev Dodgson said:

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

so you would be happy to carry an indefinate liability?

Did you read what I wrote?

It’s not an indefinite liability, because either side can agree to cancellation of the agreement on return of the mney.

what say I pre-purchased $2M in fees from you… what then??

are you going to carry that cash to cover the liability indefinitely

diddly-squat said:

Tau.Neutrino said:

diddly-squat said:

that is a complete nonsense statement

Can you rearrange it for me?

companies are free set the terms and conditions associated with the sale of their goods and/or services.

if consumers don’t like them they are free to vote with their feet

Companies might like that to be true, but it isn’t. Where there is an imbalance of power between two parties to a contract then regulations are put in place to ensure that the party with the lesser power is not unfairly treated.

That has been standard practice for a very long time; there is no reason why that principle should not be applied to gift cards.

When people buy a gift car or prepaid card, isn’t that a company product?

Tau.Neutrino said:

When people buy a gift car or prepaid card, isn’t that a company product?

When people buy a gift card or prepaid card, isn’t that a company product?

diddly-squat said:

The Rev Dodgson said:

diddly-squat said:

so you would be happy to carry an indefinate liability?

Did you read what I wrote?

It’s not an indefinite liability, because either side can agree to cancellation of the agreement on return of the mney.

what say I pre-purchased $2M in fees from you… what then??

are you going to carry that cash to cover the liability indefinitely

Sure, be happy to. What’s the problem with getting interest on $2 million for an indefinite period?

The Rev Dodgson said:

diddly-squat said:

The Rev Dodgson said:

Did you read what I wrote?

It’s not an indefinite liability, because either side can agree to cancellation of the agreement on return of the mney.

what say I pre-purchased $2M in fees from you… what then??

are you going to carry that cash to cover the liability indefinitely

Sure, be happy to. What’s the problem with getting interest on $2 million for an indefinite period?

What happens when the company no longer exists?

Tau.Neutrino said:

The Rev Dodgson said:

diddly-squat said:

what say I pre-purchased $2M in fees from you… what then??

are you going to carry that cash to cover the liability indefinitely

Sure, be happy to. What’s the problem with getting interest on $2 million for an indefinite period?

What happens when the company no longer exists?

Return the money to the person who paid it (or the gift recipient, if it was a gift).

The Rev Dodgson said:

Tau.Neutrino said:

The Rev Dodgson said:

Sure, be happy to. What’s the problem with getting interest on $2 million for an indefinite period?

What happens when the company no longer exists?

Return the money to the person who paid it (or the gift recipient, if it was a gift).

And if the company went bankrupt?

diddly-squat said:

The Rev Dodgson said:

diddly-squat said:

what if I were to buy a week of your consulting time as a gift for a friend… would it be reasonable for there to be a sunset on it’s validity?

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

so you would be happy to carry an indefinate liability?

Like never ending government debt

how about that regional coding…

Tau.Neutrino said:

The Rev Dodgson said:

Tau.Neutrino said:

What happens when the company no longer exists?

Return the money to the person who paid it (or the gift recipient, if it was a gift).

And if the company went bankrupt?

It would be dealt with in the same way as any other advance payment.

Why wouldn’t it be?

Cymek said:

diddly-squat said:

The Rev Dodgson said:

If the money was returned to the purchaser if the services became unavailable or were otherwise not taken up, yes.

so you would be happy to carry an indefinate liability?

Like never ending government debt

It’s not a debt. It’s an advance payment.

Rule 303 said:

There’s interesting and complex things going on with gift cards around the world, and their popularity is rising among retailers because they deliver a huge profit (20% are bought but never used!).

My recent experience with Village Gold Passes (received as gifts, but we were unable to use them before they ‘timed out’) left me wondering whether increasing that 20% …

The same is true of flybuy points. The original flybuy points were only redeemable in about 50% of cases.

Rewards cards a smaller percentage but similar.

Photocopy cards are the greatest scam of all. I’d guess that 40% or more of the money spent on them is never used. Although they nominally don’t expire, the system is changed every two years or so so all the money put on them is lost.

Travel cards such as oyster and myki, perhaps 10% of all the money put on them is never used, perhaps a higher percentage than this.

A significant percentage of rewards points on credit cards are never redeemed.

These are all “pay now buy later” schemes. I avoid as many of them as I can.

I was told the other day that Bunnings cards don’t expire. I won’t trust that, I’ll spend mine tomorrow or maybe this afternoon.

I know that when you put coins in a payphone you only have so long until the money runs out but if you buy a phone card and don’t use it all straight away, beware they only last three months at best.

diddly-squat said:

Tau.Neutrino said:

diddly-squat said:

I don’t understand…

as Witty said, receipts from gift card sales must be carried as a liability on a business’ balance sheet – it’s not unreasonable that they have an expiry…

If the majority of people agree that some terms and conditions are unreasonable with some companies then changes to law are needed

that is a complete nonsense statement

Iwds. The majority of beer drinkers might agree that breweries should provide beer for free but that doesn’t mean the govt should legislate for it.

I think there is a role for govt in regulation of goods and services that are truly essential or in case of risk to safety. But this is a niche product for ppl who want to send something tackier than a gift but less convenient than cash. No one is relying on it. As long as the conditions are plainly stated i don’t think people need much help.

I mean shit, people spend money on things that are basically worthless. If someone wants to pay 10 bucks for something that will be worth nothing in 2 years, let them. If you think it is not reasonable, don’t get it.

The other day I was thinking of sending a postal money order. The fee asked was $8.95. This seemed unreasonable so I instead sent the money by one of the many other ways. The fact that I thought the fee was unreasonable does not mean the government needs to legislate on this.

If a unused gift card is a debt held against a company owed to you and it expires then if we have a debt owed to them can it also expires please

Cymek said:

If a unused gift card is a debt held against a company owed to you and it expires then if we have a debt owed to them can it also expires please

I like your logic Cymek.

Tau.Neutrino said:

Cymek said:

If a unused gift card is a debt held against a company owed to you and it expires then if we have a debt owed to them can it also expires please

I like your logic Cymek.

If banks can charge fees why can’t customers

They are one half of the agreement.

Tau.Neutrino said:

If banks can charge fees why can’t customers

They are one half of the agreement.

When you have a term deposit the interest paid you by the bank is the fee for letting them use your money.

HTH.

Some art contracts can be unreasonable if say they charge 50 percent

I had a price on a ceramic work for $600

and I need that 600 to recover costs

so I had to set the price to 1200 so I could still recover the 600 in costs.

I didn’t want the price to be that high and there were no alternatives.

For failing to have alternatives I never spoke to them again.

Especially when I was not recognized as a student picking up a submitted art work as one of 6 art students

The female staff mistook me as a customer and became slightly unprofessional, taking their time…made another customer angry…unprofessional…

Made up angry as well.

Tau.Neutrino said:

Made up angry as well.

It made me angry as well.

Another bit to that story

All my finished student work had mistakes in them.

The piece that got submitted had nearly 23 mistakes

So all the art gallery people got to see 23 mistakes and on opening night so did all the art critics, art business people, people from the ceramic industry etc and all later customers got to see 23 mistakes as well.

Talk about embarrassment, never again.

Tau.Neutrino said:

Woodie said:

throws spanner in works

Dick Smith gift cards.

Dick Smith sell online, so the cards presumably can be used online.

No.

Divine Angel said:

Tau.Neutrino said:

Woodie said:

throws spanner in works

Dick Smith gift cards.

Dick Smith sell online, so the cards presumably can be used online.

No.

Ok,

I’m really stoned so previous comments are unreliable.

Tau.Neutrino said:

I’m really stoned so previous comments are unreliable.

I retract those statements now, I was being mean.

I need to look at it differently.

Cymek said:

If a unused gift card is a debt held against a company owed to you and it expires then if we have a debt owed to them can it also expires please

Check the terms and conditions that come with the card.

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

I have given gift cards to my casual staff for Christmas bonuses for many years. And I agree with party…it’s partly a ploy to get them to spend it on themselves. Sometimes I know them too well…

I use gift cards from the local shops in Hamilton though, not the big groups.

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

what if the person want’s something for themselves from another store? I understand your sentiment but I stand by my position

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

There you are then.

Arts said:

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

what if the person want’s something for themselves from another store? I understand your sentiment but I stand by my position

It is up to you to know what store to choose :)

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

surely paying a bill is still something ‘for them’. Who is the gift giver to dictate what and where they spend money for themselves?

I see the value if the receiver has said “I’d really like that thingo from Bunnings/jb hi fi/ apple store..” and you;d like them to choose it for themselves.. but a random gift card seems unthoughful.

Having said that there are now gift cards that span across many stores.. which are much more useful.

Another thing I have noticed is that some stores (let’say Rebel Sports) do not give you a total left on the card and you cannot find out the total because they work like ATM cards.. so you either have to remember or guess what amount might be left. It seems like an unfunctional system that is designed to rely on people not remembering the three dollars fiftyone cents they have left and leaving the store with the balance.

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

With Westfield, Coles and Woolies cards you can go online to find out the remaining amount, or with Westfield go to the concierge.

I recently sent a Coles group one to a friend whose 16 yr old son has a brain tumour. I didn’t want her to worry about money if she needed emergency food, wine or a KitKat.

sibeen said:

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

you still have to spend the money… you are better off sending them a card saying that you have donated in their name to “The Human Fund” and a charitable event

Arts said:

sibeen said:

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

you still have to spend the money… you are better off sending them a card saying that you have donated in their name to “The Human Fund” and a charitable event

Choose a cause they’re likely to disagree with.

Arts said:

sibeen said:

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

you still have to spend the money… you are better off sending them a card saying that you have donated in their name to “The Human Fund” and a charitable event

here’s one prepared earlier

Arts said:

sibeen said:

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

you still have to spend the money… you are better off sending them a card saying that you have donated in their name to “The Human Fund” and a charitable event

But the angst it causes them may well be worth it.

sibeen said:

party_pants said:

I use gift cards instead of sending presents to relatives interstate. I use national chains so I know the person had a store nearby to spend it.

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

You think you’re so naughty, but careful it doesn’t backfire by giving that person a reason to visit and stay at your place.

Arts said:

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

what if the person want’s something for themselves from another store? I understand your sentiment but I stand by my position

For Christmas my daughter gave me a hand written tin-suit voucher (choice of material open to negotiation).

Not sure what the expiry date is.

Arts said:

sibeen said:

Rubs chin

This does give me an idea. I should send gift cards from local only stores to relatives that I don’t like who live far away.

makes a note in little black book

you still have to spend the money… you are better off sending them a card saying that you have donated in their name to “The Human Fund” and a charitable event

I gave a former partner a gift card that let him know that he’d given a certain amount to support Womens Self Help.

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

I got two cards for xmas

A Coles Myer card

the other an eftpos card

I couldn’t use the eftpos card at the servo

but they accepted the Coles Myer one

Tau.Neutrino said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

I got two cards for xmas

A Coles Myer card

the other an eftpos card

I couldn’t use the eftpos card at the servo

but they accepted the Coles Myer one

Now the Banks are having a fight with Apple Pay

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

Also, I don’t like to send cash through the post.

>I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

sometimes the giver has an account at that business, or they might be for whatever reason fond of the business, so encourage patronage of.

utilizing it is discretionary, plus it has an expiry, so it’s not a bad reminder of other forms of capital in human exchanges

mollwollfumble said:

party_pants said:

Arts said:

I don’t understand gift cards… you take money that’s good everywhere and narrow down where someone can spend it.. seems a poor gift choice

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

Also, I don’t like to send cash through the post.

someone can steal and use a gift card just as easily as cash

Arts said:

mollwollfumble said:

party_pants said:

You want the person the spend it on something for themselves, not just use on their next lunch break or when they next fill up with petrol. Something that they will remember you by when they use the thing they bought with the voucher.

My Adele CD (21) was bought the the JB Hi-Fi Voucher that was the last birthday gift from my Mum before she died.

Also, I don’t like to send cash through the post.

someone can steal and use a gift card just as easily as cash

Stop destroying our common sense values with logic.