Brits lose £619 million to expired gift cards, and last Christmas’s could be next

11 November 2026

Be Clever With Your Cash – is it time for a legal minimum expiry period as millions risk losing money they’ve already been given?

UK shoppers have lost around £619 million to gift cards that expired before they were spent, according to new research from consumer finance website Be Clever With Your Cash (BCWYC). With many cards running out 12 months after purchase, anyone who received one last Christmas could see it expire within weeks.

The survey of 2,000 UK adults found that three in ten (31%) have had a gift card or voucher expire before using the full value in the last five years. Those affected lost an average of £36.20 each, and nearly one in five (18%) lost £50 or more. Two respondents even revealed that they’d missed out on expired gift cards valued at £500 or more, and dozens have lost between £100-£149.99.

And it can happen to anyone. Millennials aged 30 to 45 are hit hardest, losing an average of £51.50, well above Gen Z (£29.30), Gen X (£30.40) and Boomers (£28.40). Londoners lost an average of £44.60, the highest of any region.

Gift cards remain a brilliant present for the person who’s impossible to buy for, or for friends and family clubbing together for something bigger. The problem is the small print. The UK has no legal minimum expiry period for gift cards, so retailers can set their own deadlines, and when a card runs out, the money stays with them.

Other countries have already acted. Ireland introduced a five-year minimum expiry period in 2019, and the US has had one since 2009. Is it time for the UK government to follow suit and introduce a minimum expiry period, so consumers don’t lose money that has already been spent on them?

Amelia Murray, Money Expert at Be Clever With Your Cash, said:

“Someone paid good money for that gift card, and it’s simply not right that it can quietly vanish back into a retailer’s pocket because of a date hidden in the small print. Before you buy a single present this Christmas, dig out any gift cards in your drawers and wallets and check those expiry dates.”

BCWYC’s top tips for gift cards

1. Check your drawers now. Gather up any gift cards and vouchers, check the expiry dates and balances, and spend the ones closest to running out first.
   
   
2. Spend before you shop. Use existing cards for Christmas shopping before reaching for your own money.
   
   
3. Read the terms before you buy. Check how long a card lasts and whether there are any fees or restrictions before giving one as a gift.
   
   
4. Register your card. Where retailers allow it, registering a card can help if it’s lost or stolen.
   
   
5. Don’t sit on them. Gift cards may not be honoured if a retailer goes into administration, so it pays to spend them promptly.
   
   
6. Consider cash for group gifts. If several people are clubbing together for a larger amount, a bank transfer or cash may be a safer option than a single high-value card.