Answers about Gift Cards

Are all fees that can be imposed on a gift card considered to be service fees?

No.

By regulatory definition, service fee means a fee for holding or using a gift certificate, store gift card or general-use prepaid card.

Examples of service fees are:

• monthly maintenance fees;
• transaction fees;
• reload fees; or
• balance inquiry fees

The following fees are not considered to be service fees, and you can be assessed the following fees during the first year if they are applicable:

• initial issuance fee;
• a cash out fee; or
• a fee to replace a lost or stolen card.

November 2010