Monday, July 27, 2009
Governments Grab Unused Gift Cards - WSJ.com
So, why should a government reap the benefit of an unused gift card?
I don't like it...
I don't like it...
Erica Alini tells about it in the Wall Street Journal:
"Each year Americans spend about $65 billion in gift cards -- excluding bank-issued prepaid cards -- but don't redeem $6.8 billion, according to research by TowerGroup, a financial-consulting firm.
What happens to the unused amounts varies by state and company, but they often revert to retailers as income. States that collect abandoned gift cards require retailers and third-party gift-card processors to update a database keeping track of when a card is issued and when it is used."
