Here are some things you may not know about prepaid purchase cards:
- Most prepaid purchase cards never lose their value or expire.
- Expiry dates are allowed on prepaid purchase cards that are sold for a specific good or service (like a manicure).
- Businesses can charge fees if the prepaid purchase card was free (donated as a raffle prize).
- Prepaid purchase cards from federally-regulated financial institutions may charge activation fees, maintenance fees, inactivity fees and more. Shop around.
- Merchants can charge a fee to replace a lost or stolen card.
In Manitoba, prepaid purchase cards, including gift cards and gift certificates, are subject to regulations that protect both buyers and sellers. You can learn more at //www.gov.mb.ca/cca/cpo/prepaid_cards.html.