In addition, some states have separate laws that provide added protection in certain circumstances.
For instance, the card issuer cannot charge a dormancy or inactivity fee on a gift card unless there has been no activity for one year and the card clearly states its policy toward that fee. The law also places general limitations on fees. Under the law, a gift card cannot expire until at least five years from the date it was activated. Bank gift cards, which carry the logo of a payment card network (e.g., Visa, MasterCard), are also subject to Credit CARD Act protections and can be used wherever the brand is accepted. These cards can only be redeemed at the stores and restaurants that sell them.
The Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act provides several protections for consumers who purchase certain types of gift cards, including store and restaurant (also known as merchant) gift cards. While they seem simple, it is important that both the giver and the recipient read the details for each card to avoid any misunderstandings, and there might be additional policies set by the merchant or bank issuing the card. It also gives you the ability to turn your card off and on in the event it is lost or temporarily misplaced.Gift cards can be a convenient present for the holidays and special occasions. Additionally, Cards allows you to set up alerts based on spend limit and merchant type. The Cards feature within Central NET and Central MOBILE lets you control when and how your Central Bank Debit Card is used. Register at to redeem your points online for cash back, gift cards, merchandise, travel and more. Sign up for alerts – we’ll contact you if a debit card purchase or ATM withdrawal exceeds a limit you’ve setĮnhanced Personal Identification Number (PIN) security – we restrict access after an excessive number of invalid PIN attemptsĮvery time you use your Central Bank debit card to make a purchase, you’re rewarded with points. Use anywhere Visa debit cards are accepted Get cash, transfer funds or check account balances from ATMs
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