168 DAYS UNTIL
June 1 - 7, 2020

Merchandise Gift Card

Definition of Gift Card/Gift Certificate:

"Gift card" means a certificate, electronic card, or other medium issued by a merchant that evidences the giving of consideration in exchange for the right to redeem the certificate, electronic card, or other medium for goods, food, services, credit, or money of at least an equal value, including any electronic card issued by a merchant with a monetary value where the issuer has received payment for the full monetary value for the future purchase or delivery of goods or services and any certificate issued by a merchant where the issuer has received payment for the full monetary face value of the certificate for the future purchase or delivery of goods and services.

Expiration Date Provision:

Ohio Rev. Code Ann. §1349.61 Prohibits an expiration date less than two years after issuance. A gift card sold without an expiration date is valid until redeemed or replaced with new card.

Fee Provision:

Ohio Rev. Code Ann. §1349.61 Prohibits any fees charged less than two years after issuance.

Escheat Provision:
Ohio Rev. Code Ann. §169.01(B)(2)(d)
Gift certificates are exempted from unclaimed property fund.

Source: National Conference of State Legislatures