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Gift Card Fees in New HampshireNew Hampshire currently has laws in place that regulate gift cards. This law covers all gift cards. The following rules for gift cards are currently applicable in New Hampshire:
- Gift cards with a value of under $100 may not expire. Gift cards with a value of over $100 can be considered expired to the state when the time period has reached the point where the money would be considered abandoned by state law.
- Gift cards may not have fees.
The current New Hampshire law covering gift card fees will be superseded by the recently passed Credit Card Act of 2009 which dictates the minimum gift card requirements for all states if the federal law is stronger than the New Hampshire state law. Any portion of the New Hampshire gift card law which is stronger than the federal law will remain in effect. Gift cards issued in New Hampshire 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:
- 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.
- Gift cards are prohibited from charging fees during the first 12 months from the time of purchase.
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