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A gift voucher is a certificate which
entitles the bearer of the voucher to exchange it for goods or
services up to the face value of the voucher. There are three types:
- those issued by trade associations (eg, Booksellers New
Zealand, Motor Trade Association) to be used at any stores
belonging to that association
- those issued by a specific store which can only be used in
that store or its branches
- those issued by a specific store but which can be used at a
number of stores that sell the same type of goods – eg, petrol
stations, CD stores.
Giving change on a gift voucher
Change does not have to be given by the store unless the terms of
the voucher specifically state that change will be given. It is up
to you to use the voucher's full value. In some stores change will
be given in the form of another voucher if the amount exceeds $5, or
change if it is less than $5. If you are buying a gift voucher check
the terms for using it.
Refunding a gift voucher
A voucher is issued by the store to buy goods and services at a
later date. It is unlikely that a store will refund on a voucher.
The store has no legal obligation to do this.
Voucher expiry date
A voucher may have an expiry date. Check for a date when
purchasing to see if it will allow the person using the voucher a
reasonable time to use it. A usual time period would be six – 12
months.
Lost voucher
If the voucher is lost, the store doesn't have to replace it.
It's like losing a bus ticket, so it pays to keep the voucher
somewhere safe. This situation could change if the voucher has been
made out to you specifically and is not transferable to another
person. In those circumstances the store may be bound to issue you a
new one and cancel the original voucher.
Store closures
When the store that sold the voucher closes down, the voucher
holder becomes an unsecured creditor of the business (refer to
Consumer Information Shop closures
page). The voucher is a liability the store has not met. If the
store was a registered company, a liquidator will have been
appointed to wind up the company.
Unsecured creditors must register their claim with the
liquidator. Your claim will only be considered after all those of
secured creditors.
In some cases – eg, if a store changes ownership or goes into
liquidation – it is very difficult to get the gift voucher honoured.
Here are some things you can do to minimise the risk of losing your
money.
- Buy vouchers that can be used at more than one store – eg,
petrol vouchers, or ones that are issued by trade associations.
- Before buying a voucher, ask the store if they have a trust
account to protect voucher holders .
- If you are given a voucher as a gift, use it as soon as
possible.
Company that sold the voucher to the store closes down
Sometimes part of a company's business is to sell gift vouchers
to stores, which in turn are sold on to you. When the company that
sold the voucher to the store closes down, you should go back to the
store that sold you the voucher to ask them to honour it. If the
store refuses to honour the voucher, you can make a claim in the
Disputes Tribunal for the value of the
voucher.
Store changes ownership
When a store changes ownership, the new owners are unlikely to
have purchased the previous company's liabilities so they will not
be bound to honour the voucher. The new owners can decide whether
they honour the voucher or what else can be offered to you.
We recommend:
- For stores issuing vouchers, consider keeping contact details
of the person who purchased the voucher and recording the
cancellation of vouchers against your list. If the business is
going to be sold, people who have not used their vouchers could be
contacted to come into the store to buy goods and services with
the vouchers before it changes hands
- Store owners should also consider reaching an agreement with
the new purchasers of the business to take into account un-used
vouchers.
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