What to Do if You Find a Lost Gift Card?

Finding a lost gift card presents a unique situation, combining a potential financial gain with an ethical responsibility. When encountering such an item, understanding the nature of gift cards and following appropriate steps can guide your actions. This approach helps ensure that the card’s value is handled responsibly, whether it involves returning it to its rightful owner or, if that proves impossible, understanding how it might be used.

Understanding Gift Card Ownership

A gift card represents a financial asset, similar to cash. When someone purchases a gift card, its value belongs to the original purchaser or the intended recipient. Therefore, finding a gift card does not automatically transfer its ownership to the finder. The expectation is that reasonable efforts should be made to return found property to its rightful owner. This principle applies to items of value, including gift cards.

From a financial perspective, the balance on a gift card is recorded as a liability on the issuer’s books, meaning the company owes that value to the cardholder. This underscores that the card’s value is not a windfall for the finder but rather a pre-existing asset belonging to another party. While many gift cards, particularly general-purpose ones like those issued by major payment networks, might not require personal identification for use, their purchase often leaves a digital trail. Records linking the purchase to the buyer usually exist. This traceability further emphasizes that an owner exists, even if not immediately apparent.

Steps to Locate the Owner

Begin by examining the card itself for any identifying information, such as the issuing store’s name or a major payment network logo. Checking the card’s balance is a practical first step to confirm its active status and value. Most gift cards provide a toll-free number on the back or a website address for balance inquiries, often requiring the card number and a security code.

Contact the card issuer directly. Many retailers and card companies have customer service teams that can assist with lost or stolen cards, especially if the original purchaser registered the card or has proof of purchase, such as a receipt. Provide them with the card number, the approximate purchase date, and any other details you can gather. While they may not disclose personal information about the owner due to privacy concerns, they might be able to trace the card’s purchase or usage history, potentially leading to the owner. If the card was found in a specific location, such as a retail store, airport, or event venue, inquire with their lost and found department, as establishments often maintain detailed logs of found items and have procedures for returning them.

Using the Gift Card When the Owner Cannot Be Identified

If all diligent efforts to locate the gift card’s owner prove unsuccessful, and a reasonable period has passed without a claim, the finder may consider using the card. Federal law stipulates that gift cards cannot expire earlier than five years from their issuance date. This law also restricts dormancy or inactivity fees, allowing them only after one year of inactivity and requiring clear disclosure.

Before attempting to use the card, re-check its balance and any printed expiration dates to ensure its validity. Most gift cards are designed for specific retailers or payment networks, meaning they can only be used where that brand is accepted. For in-store purchases, presenting the card at checkout is usually straightforward, while online use typically requires entering the card number, expiration date, and a security code. Be aware that some cards may have limitations, such as not being redeemable for cash, though some jurisdictions require cash redemption for small remaining balances, such as under $5 or $10. In some instances, if a gift card remains unused for an extended period, generally between one and five years, its value may be subject to unclaimed property laws, where the funds are escheated to the state until the rightful owner can claim them.