01.Consumers must pay double to redeem Borders gift vouchers
Consumers still holding Borders and Angus & Robertson gift cards will have to pay double to redeem the value of the voucher after the booksellers fell into voluntary administration.
When a company goes into administration customers with gift vouchers become creditors and have to stand in line behind others owed money.
In the case of Borders/Angus and Robertson the Administrators have ruled that in order to redeem gift vouchers you must spend twice the face value.
The situation highlights some of the risks involved in buying gift vouchers - a growing industry worth 1.5billion dollars a year.
Other aspects to be mindful of when buying gift cards are:
- Expiry dates
- Fine print around lost or stolen cards
- Restrictions on which shops accept the card
- Hidden fees and charged
See CHOICE's full gift card report.