The Gift Card
Gen. Bus. Law § 396-i — nine years before the funds may expire, and no fees
In New York, it is unlawful to sell or issue a gift certificate, other than a promotional one, whose funds are subject to an expiration date earlier than nine years after it was issued or the date funds were last loaded, whichever is later. Any expiration terms are stated clearly and conspicuously on the certificate.
No fees. No activation, redemption, service, dormancy, administrative or other fee of any kind may be charged, except a one time activation or issuance fee on an open loop card usable at many unaffiliated merchants, reasonably related to its cost and never more than nine dollars.
A gift certificate with a remaining value of less than five dollars, other than an open loop or promotional one, may be redeemed on request for its cash value.
Cards linked to a deposit account, transit fare cards, prepaid calling cards and health spending accounts are outside the section. The attorney general enforces it. Whether a card is covered is a question for a licensed New York attorney.
Sources for this section (1)
- Gen. Bus. Law § 396-i — Gift certificates
Legal information, not legal advice. Verified as of October 2026. Applying it to a particular situation is the work of a licensed New York attorney.