What Happens to Unused Gift Cards in New York? Find Out Here

If you’ve ever misplaced or forgotten about a gift card, you’re not alone. New York State Comptroller Thomas DiNapoli is urging residents to spend their holiday gift cards early this year or risk losing their value. In 2024 alone, the state recovered over $21 million from unused gift cards, a huge increase from just $5.8 million in 2014.

When gift cards go unused for five years, retailers are required to transfer their balances to the state’s Office of Unclaimed Funds (OUF). While this process safeguards your money, it can be a hassle to recover funds later.

Don’t Let Your Gift Cards Go to Waste: How to Claim Unused Balances

Unused gift cards aren’t just lost cash—they’re a missed opportunity. Across New York State, unclaimed gift card funds add up to millions:

• New York City residents: Nearly $48 million
• Long Island residents: $11.4 million
• Hudson Valley residents: $7.8 million

DiNapoli’s office returns an average of $1.5 million daily to rightful owners, but reclaiming your money takes time. With new legislation starting in 2025, certain unclaimed funds under $250 may be returned without requiring a claim form. However, avoiding the hassle altogether is as simple as spending or registering your gift cards now.

Tips to Protect Your Gift Card Balances

1. Spend Sooner Rather Than Later
   Don’t let your gift cards collect dust. Use them early in the new year to avoid losing track of their value.
2. Register Your Gift Cards
   Many retailers allow you to register gift cards online, linking them to your account. This makes it easier to recover balances if the card is lost or unused.
3. Check for Unclaimed Funds
   You might already have money waiting for you. Visit the Comptroller’s website to see if your gift card balances—or any other unclaimed funds—are sitting in the OUF.
4. Read the Fine Print
   Check for expiration dates and fees that could reduce your balance over time.

Read More: FBI Warns New Yorkers About E-ZPass Scam: What You Need To Know

New Legislation for 2025

Thanks to new legislation, some unclaimed funds under $250 will be returned automatically if the Office of Unclaimed Funds can verify your identity and address. While this is great for small amounts, larger balances still require filing a claim.

A $19 Billion Opportunity

The Comptroller’s Office currently holds more than $19 billion in unclaimed funds. Don’t let your gift card—or any other forgotten money—become part of that total.

For more information or to search for unclaimed funds, visit the New York State Comptroller’s Office of Unclaimed Funds online.