Nikhil Arora 18 July 2018

Gift card expiry

I have been issued a gift card worth Rs 7000/- from corporation bank against by rewards points for online banking on april'2017. The card was inactive due to security reason so i called the customer care and got it activated on Jan'2018 and i was told that the card is valid for 1 year. As i got busy in shifting my office i could not use the card and when i want to use it the corporation bank are saying that the card is expired so they cannot do anything. I requested them to renew my gift card and even ready to pay inactivity fee but they are saying they cannot do anything now as its been expired. My question is that i have converted my points in terms of money thru gift card then how can my money be expired, If the card has expired it can be renewed by bank. What if i have not used the money? The money remains unused in bank only..where it has disappeared ? Why the bank did not give me any reminders or notification if my card was about to expire with money worth around 7000. Can i take any action against the bank or there is no procedure to renew gift card in india ?

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Vikas Tiwari (Advocate) 18 July 2018

See, there is no universal rule for the issuance of Prepaid gift cards, it differs from bank to bank.

Most of the banks provide card replacement facility after deducting some charges if a gift card expires (subject to maintenance of minimum balance), provided replacement request should be made within three months (or within the time as prescribe by the bank) from the date of expiry.

Lodge a written complaint with the bank customer care and request them to provide a Replacement Card or Refund of Balance amount, hope this will work.

Best of luck.