February 20, 2008 |
2008-R-0161 | |
REMAINDERS OF VALUE ON GIFT CARDS | ||
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By: Daniel Duffy, Principal Analyst |
You asked if any state has a law concerning small remainders of value left on gift cards after most of their value has been spent.
We identified four states with relevant laws. All require retailers to give cash back in a gift card transaction if the balance on the card is below a specified amount. Table 1 displays the states and the amount.
Table 1: States with “Cash-Back” Laws
State |
Amount |
California (Cal. Civ. Code § 1749.5) |
$10 |
Montana (Mont. Code § 30-14-108) |
5 |
Vermont (8 V.S.A. § 2704) |
1 |
Washington (RCW § 19.240.020) |
5 |
DD:ts