Haven't Used Gift Cards in 2 Years? NJ Will Grab Them

3 companies stop selling gift cards in state thanks to new law
By Evann Gastaldo,  Newser Staff
Posted Apr 6, 2012 1:50 PM CDT
Haven't Used Gift Cards in 2 Years? NJ Will Grab Them
In this 2008 file photo, gift cards for various retailers are offered for sale at a supermarket in Omaha, Neb.   (AP Photo/Nati Harnik, File)

Three gift card companies will no longer do business in New Jersey thanks to a law allowing the state to claim the value of cards if they are not redeemed within two years. American Express removed its cards last week, and yesterday Blackhawk Network and InComm—both of which provide gift cards to malls and other stores—said they will follow suit unless the law is reversed.

The companies aren't taking a stand, they just think it's too difficult to comply with the changes to the state's unclaimed property law, which requires gift card sellers to get ZIP codes from buyers in order to ensure the state can claim the value. The collection of ZIP codes had been suspended by a federal judge, but the injunction was lifted last month and the case is still pending, the AP reports. (More New Jersey stories.)

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