Gifting vouchers? You’re about to get 5 years extra value in New Year

If you're a serial voucher giver or have a collection of them – listen up.

The Government has given the nod for new legislation which will require all gift vouchers to have an expiry date of at least five years.

The Consumer Protection (Gift Vouchers) Bill 2018 is expected to be passed early next year. 

Addressing the matter, TD Heather Humphreys said: "Every year consumers lose out because their gift vouchers go out of date."

"Part of the problem is the great variation on expiry dates which can range from as little as six months to 12 months to 24 months."

"This often leads to confusion amongst consumers. By having a set five-year expiry date on all gift vouchers, we will provide certainty to everyone involved," added the Minister for Business, Enterprise and Innovation.

The Bill will also include two conditions, the first means you and I will no longer have to spend that voucher all in one go.

And the second will tackle the cancellation of the gift card if the receivers name is spelt incorrectly, and a charge to amend the name will also be abolished.

Commenting on the provisions, the Minister said: "It’s wrong that consumers should have to spend a voucher in full in one transaction."

"Similarly, it isn’t fair that businesses can penalise consumers simply because of a wrong letter in a name."

"I’m glad that these two issues were brought to my attention during the public consultation so that we can now address them as part of this Bill," she added.

The Bill received cross-party support.

We for one are delighted with the new measures.