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Gift Card Fees in ArizonaGift card rules are currently set by each state. Arizona gift card law currently does allow for gift card fees and gift card expiration. This law covers all gift cards with the exception of prepaid calling cards, debit cards which are linked to bank accounts and electronic fund transfer cards. All other gift cards must clearly post any fees and expiration dates to the consumer before purchase of the gift card is made.
The current Arizona law covering gift card fees will be superseded by the recently passed Credit Card Act of 2009 which dictates the minimum gift card requirements for all states. Gift cards issued in Arizona will have to abide by the Credit Card Act of 2009 rules for gift cards when it takes effect in the summer of 2010.
The Credit Card Act of 2009 covers rules for both bank issued gift cards and store issued gift cards. The two main requirements are:
1. Gift cards are prohibited from expiring for five years from the date that the gift card is purchased or from the last date any money was reloaded onto the gift card.
2. Gift cards are prohibited from charging fees during the first 12 months from the time of purchase.
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