Hello everyone,
Evelyn here,
with another message from Attorney General, Bill McCollum on wisely buying gifts card.
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BILL MCCOLLUM
ATTORNEY GENERAL
NEWS RELEASE
__________________________________________________________
NOVEMBER 29, 2007
MCCOLLUM: USE CAUTION, CONSUMER SAVVY WHEN PURCHASING
GIFT CARDS THIS HOLIDAY SEASON
GIFT CARD SALES EXPECTED TO REACH $25 BILLION THIS SEASON,
ACCORDING TO THE NATIONAL RETAIL FEDERATION
TALLAHASSEE, FL – Attorney General Bill McCollum today issued a consumer advisory encouraging Floridians to be savvy shoppers when purchasing and using gift cards this holiday season. The Attorney General reminded consumers that gift cards scams unfortunately can occur, but basic consumer awareness and fraud prevention techniques could spare holiday shoppers considerable trouble. Attorney General McCollum also outlined tips for using gift cards that would enable gift card recipients to protect themselves from fraud.
“With the holiday season in full swing, the potential for fraud is very real and our citizens should take care to protect themselves,” said Attorney General McCollum. “We want to make sure Floridians have any available information to prevent gift card-related and other types of fraudulent activity that may put a damper on this time of year.”
An important recommendation this holiday season is to pay close attention to the fine print on gift cards. A new law passed this year by the Florida Legislature mandates that gift cards issued in Florida will not expire or have any fees that would reduce the value of the gift card, although gift cards issued before June 28, 2007 can still have expiration dates, fees and other terms that could reduce their value. The Florida Retail Federation estimates that Florida consumers will spend one out of every five dollars on gift cards this Christmas season. Nationwide, consumers are projected to spend approximately $25 billion on gift cards during the 2007 holiday season.
“Gift cards will be a popular gift item this Christmas. We urge consumers to use them wisely and treat them the same as cash,” said Rick McAllister, President of the Florida Retail Federation.
The Attorney General’s Office also released the following tips for buying and using gift cards:
- Buy gift cards from reputable sources. Avoid buying gift cards from online auction sites as these cards may be stolen or counterfeit or may have been obtained fraudulently.
- Always read the fine print before purchasing gift cards.
- Inspect the card before buying. Verify that none of the protective stickers have been removed. Ensure that the codes on the back of the card have not been scratched off to reveal a PIN number. Report altered cards to the store selling the cards.
- Give the recipient the original receipt to verify the card’s purchase value in case the card is lost or stolen.
- Ask about purchase exceptions, including any terms of use that may vary regarding a store’s website versus the physical store location.
- Treat gift cards like cash. If a card is lost or stolen, report it to the issuer immediately. Most issuers have toll-free numbers to report lost or stolen cards.
Complaints about gift cards should first be reported to the retailer or financial institution that issued the card. If the problem cannot be resolved at that level, consumers may want to file a complaint with the appropriate authorities. For cards issued by retailers, consumers may contact the Federal Trade Commission at http://www.ftc.gov or call toll-free: 1-877-FTC-HELP. For cards issued by national banks, consumers may contact the Comptroller of the Currency (OCC) Customer Assistance Group by calling 1-800-613-6743 or sending an e-mail to: customer.assistance@occ.treas.gov. The OCC charters, regulates, and supervises national banks, some of which issue gift cards. Complaints may also be reported to the Attorney General’s Office through the fraud hotline at 1-866-966-7226 or online at http://www.myfloridalegal.com.
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Evelyn out.
