Are Australian gift cards refundable after their expiry?

Abstract

Gift cards are valid for a limited period of time and consumers cannot get refunds for any unused and expired monetary credit balance. Despite the recent federal and NSW gift card reforms, the reforms do not mandate gift cards to be refundable. By comparison, section 24 of the Australian Consumer Law may render the non-refundable term unfair and the gift card contracts would continue to apply without this unfair term. The result is that all Australian consumers should be able to redeem gift cards before expiry and get refunds for the remaining credit in the gift cards after expiry. This positive result would balance the rights of consumers and the legitimate interests of gift card providers to boost gift card business.