New laws mean that expired gift card you’ve had sitting at the back of your wallet for years could still be worth something.
New federal laws means gift cards sold in Australia will be valid for a minimum of three years.
Previously retailers were able to set their own expiry dates, meaning some shoppers were left in the lurch.
Data shows an estimated $148 million was lost by not redeeming gift cards last year – around $77 per person.
The new federal laws were green lit yesterday, meaning retailers who break them will face $30,000 fines for flouting the rules.