[Talk Host]

It's my understanding that all 50 states have a law that businesses must report each year how many gift cards/certificates were not redeemed. That money, is not put into a fund, but is subject to redemption by the customer for a given time period (usually up to 3 years). In the meantime, the money is available to the business to use as they wish. Here in Florida, the law says that the money belongs to the seller. It would, because the gift card is like merchandise. They sell the card to a person, and collect the money.

It is further my understanding that anybody can go to the state website and find out if they have money from any of these merchants. The question is how much trouble would one go through to redeem $15.

But to me, throwing somebody's gift card in the garbage is like stealing, at least it's like keeping property that you find while making no attempt to find the owner.

[Pturner]

Originally Posted by ilovetv

I think it's good to find out about such a practice and it should make us wonder how many other "nationwide stores" make it policy to throw away a pre-paid CASH card, which in effect allows them to KEEP the cash the card buyer gave them, without it costing them a cent from their inventory/workforce. Gift cards are money belonging to that business floating around. More thought should be given as to how much unearned money business make off gift cards that are never used. Buying a gift card and not using it is like walking into that store, handing them $25, and leaving without ever getting a penny's worth of product or services from them.

I agree. If that is their stated practice, it puts a bad taste in my mouth.