Yes, they do. You will need to be reissued a card after it expires. Funds on the cards don’t expire, though. In a 2016 report by the Consumer Financial Protection Bureau, some consumers complained that they had money on their cards when they expired but the issuer didn’t reissue cards that included those balances. If that happens to you, reach out to the prepaid company to see if it can be resolved. If not, you can submit a complaint on the CFPB website.
Do Visa Gift Cards Expire?
Yes, Visa gift cards do have an expiration date. Typically, the expiration date is noted on the back or front of the card itself. After the expiration date has passed, the card will no longer be valid and the remaining balance will be forfeited. It is important to use up the balance of the gift card before it expires to ensure that all of the funds are utilized.
How to Get Money Off an Expired Prepaid Card?
If your prepaid card expires with funds remaining, your first step should be contacting the card issuer for detailed guidance. Sometimes, you may have the option to request a replacement card or receive a check with your balance, potentially for a fee. Always refer to your cardholder agreement for more information. Remember, gift cards under federal law must maintain validity for a minimum of five years, and inactivity fees can only be charged after a year under certain conditions.2
Read more: 5 Prepaid Card Industry Trends for 2023
Must-know Tips for Using Prepaid Cards1
Check the Fine Print Carefully.Always take the question “What types of advance fees can I be charged with the prepaid card?” into our consideration and try to check its fine print cautiously before making a decision that if we should use it.
Beware of Chargebacks.It is possible to get stuck with the chargebacks of some products or services we already paid for if the retailers do not accept our prepaid card though at the time of our purchase we can get the products we want. In this case, we should check their terms of payments before purchasing and reach out the retailers if we’re still unsure about whether they accept our prepaid cards.
Keep Track of Our Card History.Since prepaid cards do not automatically report our card histories like debit or credit cards, we should actively sign up an online balance-check service through our prepaid card issuer’s website to track our spending activities. However, we need to know that such balance-check service may be free or getting charged as well.
Don’t Lose Our Card.In comparison with traditional credit or debit cards, we’re less likely to get money back if we lose our cards. In addition, the fraud protection applying for prepaid cards is also different from the former cards. Therefore, it is very important to read the terms and conditions carefully to understand what our liability could be in such the situation. Furthermore, some prepaid card issuers may require a fee for replacing our stolen/lost prepaid cards.
Close the Card and Request a Refund Check.If we do not want to use our prepaid card anymore, just contact our issuers to do the action or deactivate it online by ourselves, then we can have a check. Worth noting that it may have a fee, so check the fine print before choosing it.
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1Fontinelle A. (2018, November 4). Ways to Avoid Getting Burned by Prepaid Debit Cards [Blog post].
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FAQs
Yes, they do. You will need to be reissued a card after it expires. Funds on the cards don't expire, though.
Do prepaid credit cards have expiration dates? ›
Just like regular credit cards, prepaid credit cards have a number and an expiration date printed on the front or back, and they generally can be used in the same places. The amount of money deposited or "loaded" onto the card represents the card's credit limit—that is, how much can be charged on it.
Do prepaid data cards expire? ›
Just like the validity of a credit card, your calling credits or data credits can also expire.
Is it legal for a prepaid card to expire? ›
Federal Law Offers Protections
Under the law, a gift card cannot expire until at least five years from the date it was activated. The law also places general limitations on fees.
Do prepaid refill cards expire? ›
If your prepaid card expires while you still have money on it, you may be able to request a replacement card to access the funds. You may also try to close out your account by requesting that your balance be mailed to you in the form of a check. The provider might charge you a fee for this.
How do I know if my prepaid card is expired? ›
Typically, the expiration date is noted on the back or front of the card itself. After the expiration date has passed, the card will no longer be valid and the remaining balance will be forfeited. It is important to use up the balance of the gift card before it expires to ensure that all of the funds are utilized.
Do vanilla prepaid cards expire? ›
Enjoy at your leisure, Vanilla Prepaid funds never expire.
What are the downsides of prepaid cards? ›
Disadvantages. Pre-paid debit cards do not help you build credit. Many pre-paid debit cards charge fees before you even start using them. There is usually a monthly fee and fees on common transactions such as ATM withdrawals, card replacement, direct deposit, and reloading the card.
What are the limitations of prepaid cards? ›
Limits on prepaid cards
The amount you can spend is limited by how much you load onto the card However some come with additional restrictions including: A maximum amount you can add to the card per transaction. A maximum total balance that can be on your card.
Do prepaid data expire? ›
The credit will expire after a set amount of time, for example 28 days - this is dependant on your plan and recharge. You can check the recharge amounts and credit inclusions available in your plan's Critical Information Summary (CIS).
Prepaid cards can be declined because you don't have sufficient funds in your account, the card hasn't been activated, the merchant doesn't accept the network's cards, or you have exceeded your spending limits. Any information you provide to the merchant must also match what's on file with the prepaid card issuer.
What is the final rule of prepaid card? ›
In October 2016, the Consumer Financial Protection Bureau (CFPB) issued a Final Rule amending Regulation E and Regulation Z to create comprehensive consumer protections for prepaid accounts. The effective date of the Final Rule is April 1, 2019.
What can prepaid cards not do? ›
Prepaid cards cannot be used for credit card payments or car payments. You cannot split payments online so you can only spend the amount that is on your card. You should keep your prepaid cards until they expire in case you receive any refunds to your cards.
How can I extend my prepaid card validity? ›
The SIM Card Validity Period can be extended by topping up more money into your Main Account prior to expiry of the Main Account Validity Period or by purchasing a Prepaid Top Up Plan.
Can you overcharge a prepaid credit card? ›
In most cases, even reloadable prepaid Visa cards cannot be overdrawn (unless fees create a negative balance), but you should always check the terms and conditions of your card to know for sure. Though prepaid cards are useful for many reasons, excessive fees could outweigh the benefits.
How long does a prepaid account last? ›
Most Prepaid accounts will cancel automatically after 120 days in Not Paid status when: The account runs out of available funds. Autopay/Autorefill is turned off.
Do Visa gift cards have an expiration date? ›
Yes, Visa gift cards expire seven years from the purchase date. The expiration date is printed on your card for easy reference.
How long can you use a prepaid card? ›
Yes, prepaid cards can expire. The expiration date is typically on the front of the card, below the 16-digit card number, or on the back of the card. If your prepaid card is tied to an account with a balance, you won't lose the money in your account, but will need to order a replacement card.
What happens when prepaid expires? ›
When your recharge expires, if you don't recharge your service you move into a 'recharge only period' until you recharge. During your 'recharge only period', you'll still be able to receive calls, but won't be able to access data, and you can only make calls to: Call 125 8887 to recharge.
What happens if my prepaid center card expires? ›
Although your Card may have an expiration date, the funds on your Card do not expire. Upon expiration, you must visit the Website www.MyPrepaidCenter.com or contact Customer Service to access the remaining balance on your Card.
