It’s that time of year when we are all overwhelmed with seasonal events and Christmas shopping. What is the perfect gift for that person who has everything? A gift card or certificate seems like the ideal solution. A few ideas you may want to consider before spending your hard earned money:

  • Purchase gift cards/certificates from a long standing, reputable business. Unfortunately, if the business closes prior to the use of the card, your gift will be worthless.
  • Ensure there is no expiry date on the card.
  • Check for service charges. Many Visa/MasterCard gift cards charge a fee at the time the card is purchased. Also, check to see if any fees will be deducted from the card after you purchase it.
  • Keep the receipt in case the card is not properly loaded. You may want to attach the receipt with the gift card.
  • Check to ensure the pin code on the back of the card has not been scratched off. If the code is exposed, the card could be worthless.

Being cautious up front will ensure the recipient can enjoy your gift.

By Kathy Lenart – Insolvency Partner, Licensed Insolvency Trustee
CPA, CA, CIRP
Member and Secretary of the Ontario Association of Insolvency and Restructuring Professionals (OAIRP)
Canadian Association of Insolvency and Restructuring Professionals (CAIRP)