Shoppers are being urged to check forgotten gift cards and vouchers before Christmas after research estimated that £619 million has been lost to expired cards over the past five years.
Research findings on expired gift cards
Consumer finance website Be Clever With Your Cash found that 31 per cent of UK adults surveyed had allowed a gift card or voucher to expire before spending its full value, losing an average of £36.20 each. The research, conducted by Opinium among 2,000 UK adults, found that almost one in five people affected had lost at least £50, while some respondents reported losing hundreds of pounds.
With many retailers setting expiry dates of 12 months after purchase, shoppers who received gift cards last Christmas could be running out of time to use them.
UK expiry rules and calls for change
Unlike some other countries, the UK has no statutory minimum expiry period for gift cards, meaning retailers can set their own validity periods. Be Clever With Your Cash is now questioning whether the UK Government should introduce a minimum expiry period to protect consumers from losing money already spent on their behalf.
The research found that people aged between 30 and 45 reported the highest average losses at £51.50, compared with £29.30 among younger adults aged 18 to 29. People aged between 46 and 61 lost £30.40 on average, while those aged 62 and over reported average losses of £28.40. London recorded the highest average regional loss at £44.60.
The estimated £619 million total was calculated by applying the survey findings to the UK adult population. It is not a recorded total of expired gift card balances.
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."
She added: "Before you buy a single present this Christmas, dig out any gift cards in your drawers and wallets and check those expiry dates."
Gift card expiry rules in the UK
There is currently no legal minimum period for which gift cards must remain valid in the UK. Some retailers offer cards that last for several years, while others impose shorter deadlines or conditions on their use.
Expiry dates may be printed on the card, included in the original purchase confirmation or available through the retailer's website. Consumers should also check whether a card's validity period begins when it is purchased, activated or last used, as terms can differ between providers.
In Ireland, legislation introduced in 2019 established a minimum five-year validity period for most gift vouchers. Be Clever With Your Cash believes the UK should consider similar protections to reduce the amount of money lost through expired cards.
Ways to avoid losing money on gift cards
People who have received gift cards over the past year are being encouraged to check their remaining balances and expiry dates before beginning their Christmas shopping. Cards that are approaching their expiry date could be used towards presents, groceries or other planned purchases rather than being left unused.
Consumers buying gift cards as Christmas presents should check the terms and conditions before paying, particularly where large amounts are involved. Some retailers allow customers to register gift cards online, which may provide additional protection if a physical card is lost or stolen.
There is also a risk that gift cards could become unusable if a retailer enters administration, as customers may not be able to recover their money. For this reason, shoppers are generally advised not to hold on to high-value gift cards unnecessarily.
The research was carried out between September 29 and October 2, 2026, with Be Clever With Your Cash calling for greater awareness of expiry rules ahead of the festive shopping period.
