Vouchers are not only very popular as a spontaneous gift. The practical credits can be acquired in almost every area – whether a visit to a restaurant, a purchase in a store or even a special activity – the variety is immeasurable. This is what you should pay attention to when it comes to vouchers.
Vouchers are extremely popular as gifts. It is precisely because of their diversity that they are practical to make the recipient happy. Nonetheless, there are a few things to consider.
Limitation of vouchers
Many vouchers have a deadline for redemption. This indicates the period in which the voucher is valid. This can be noted on the coupon itself or can be found in the general terms and conditions of the company that issued the voucher.
If there is no time limit, the statutory limitation period applies, which is three years. The calculation starts from the end of the year in which the voucher was issued. If you receive a voucher that was issued on May 23, 2019, you have until December 31, 2022 to redeem it. An expired voucher can no longer be redeemed and the monetary value can no longer be claimed from the provider.
In addition, there is the case that the redemption period for the voucher is too short. This is therefore not effective and redemption can be requested even after the deadline has expired. The limitation period also applies here. An example of this is a voucher from an online retailer that is limited to one year. In a ruling, the Munich Higher Regional Court decided that such a deadline constituted “unreasonable discrimination against the consumer,” as the consumer advice center informs.
Cash out cash value?
If you would rather exchange the voucher for cash value, it is up to the provider whether they allow this. There is no obligation on the part of the provider to pay out the monetary value as it was intended for the purchase of goods. Information about whether a retailer will exchange a voucher for cash value can usually be found in the general terms and conditions.
If the voucher has expired but the statutory limitation period has not yet expired, the voucher owner can claim the monetary value of the voucher. However, the dealer is allowed to deduct his “calculated profit” from this. This must be determined individually, but according to legal experts it amounts to 15 to 20 percent.
If the retailer where you have not yet redeemed a voucher becomes insolvent, you can register this as a claim with the insolvency administration. After the insolvency proceedings have been completed, part of the voucher value may be refunded. However, in most cases this is not very likely.
Good to know
Vouchers can often be partially redeemed, but there is no legal regulation for this. Therefore, the decision as to whether this is possible rests with the provider. If the retailer does not suffer any damage or loss as a result of partially redeeming the voucher, there is a good chance that he will allow it.
In many cases, vouchers can also be transferred to other people. Even if the recipient’s name is written on the voucher, someone else can also redeem the voucher. There can only be restrictions if the voucher is individually tailored to the recipient and only the recipient meets the necessary requirements of the voucher.
Editorial team finanzen.net