CHRISTMAS shoppers are being short-changed by millions of pounds in lost gift card cash.
Retailers have been accused of making "money for nothing" after it emerged many vouchers purchased over the festive season expire before they are used.
It comes as millions of people spent yesterday bagging online bargains ahead of shops opening their doors for the Boxing Day sales.
It is estimated the UK's gift card market is worth £6 billion a year, with around £300 million going unspent.
SNP consumer affairs spokeswoman Patricia Gibson called on the UK Government to take action to protect Christmas shoppers from losing out.
She said expiry dates should be banned altogether - or at the very least restricted to a minimum five-year period - with any unspent cash going to charity.
She added: "Nobody wants to see the hard-earned cash they spend on presents for friends and family members thrown down the drain – but consumers in the UK are currently being short-changed to the tune of millions of pounds every year in lost gift card money.
“Like the Grinch who stole Christmas, retailers are profiting from money for nothing by taking away people’s Christmas and birthday presents when gift cards pass these wholly arbitrary expiry dates.
“The minimum period, and policies, for gift cards can vary dramatically from shop to shop - some have very short or hidden expiry periods.
"Many people wind up losing their money because the cards expire – or a firm closes down – and the retailers then take the funds for themselves."
She added: “With families now facing stagnant wages, rising prices, and squeezed living standards under the Tories, it is all the more important that the UK government introduces protections.
"This means either a full ban on gift card expiry dates or, at the very least, a minimum expiry period of five years or more, and rules to ensure that any leftover funds go to charity rather than profit.”
Today marks one of the busiest shopping days of the year as Scots rush to bag one-off bargains and return unwanted gifts.
But with sales already kicking off on Christmas Eve, it's thought £85,000-a-minute was spent yesterday alone - up 11 per cent on last year.
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