News for hackers. Stuff that matters.

A comment on Happy 400th birthday to the world's oldest bond. Parent comment

Re:Happy 400th birthday to the world's oldest bond by jncfhnb on Monday December 23, 2024 @04:38PM (#42497810)
Not really. Gift cards don’t expire and you’re allowed to just make reasonable assumptions about what portion will never be redeemed.
[ Parent | on HN ]
Re:Happy 400th birthday to the world's oldest bond by mgerdts on Monday December 23, 2024 @09:07PM (#42499145)
Gift card expiration used to be really egregious. In 2010 that changed in the US. They can still expire, but not within 5 years.

https://www.ftc.gov/news-events/news/press-releases/2010/11/...

[ Parent | on HN ]
Re:Happy 400th birthday to the world's oldest bond by adamsb6 on Monday December 23, 2024 @11:36PM (#42499765)
In Washington state they never expire.
[ Parent | on HN ]
Re:Happy 400th birthday to the world's oldest bond by jncfhnb on Monday December 23, 2024 @09:18PM (#42499187)
Regardless, you can still account for breakage without any formal expiry
[ Parent | on HN ]
Re:Happy 400th birthday to the world's oldest bond by mgerdts on Monday December 23, 2024 @09:33PM (#42499257)
Sure. That Party City gift card bought last week may not be honored today due to bankruptcy and certainly won’t be honored after the stores close in a couple months.
[ Parent | on HN ]
Re:Happy 400th birthday to the world's oldest bond by jncfhnb on Tuesday December 24, 2024 @10:51AM (#42502664)
No, that argument applies to the owner of the gift card accounting for the fact that the gift card may not be used (and isn’t a great method assuming they intend to spend it and expect to get the full value).

What I’m talking about is the provider of the gift card writing off some portion of the liability of gift cards they have sold that people will never spend because they forget about them and lose them and so forth.

[ Parent | on HN ]