Gift Cards: Not as Valuable as Cash
Update: 2025-12-04
Description
Gift cards may not be the best gift option, according to a law professor from Melbourne University. Jeannie Paterson argues that cash or direct bank transfers are more economical due to gift cards various restrictions. These limitations, enforced by the ACCC, include three-year validity, exceptions for certain cards, and potential worthlessness if the retailer closes. Paterson suggests that the three-year minimum is not long enough for consumers, as Australians hold an estimated $1.4 billion in unused gift cards.
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