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Gift Card Fees in UtahUtah 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 Utah:
- The gift card may not have an expiration date if the information about the expiration date is not printed or included. The expiration date must be printed and readable on the gift card, on the gift card packaging or included with the gift card.
- The gift card is prohibited from having fees unless printed information about the fees are included. The fees must be printed and readable on the gift card, on the gift card packaging or included with the gift card.
The current Utah law covering gift card fees will be superseded by the recently passed Credit Card Act of 2009 which dictates the minimum gift card requirements for all states if the federal law is stronger than the Utah state law. Any portion of the Utah gift card law which is stronger than the federal law will remain in effect. Gift cards issued in Utah 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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