The Treasury’s Office of the Comptroller of the Currency and a number of state consumer agencies suggest that consumers look into the terms and conditions on gift cards before they buy.

Some questions to consider:

• Is there a charge for purchase of the card? Gift cards issued by retailers generally don’t have upfront costs, but bank cards that carry the logo of companies such as Visa, MasterCard, American Express and Visa can cost $3.95 to $11.95 to buy.
• Does the card have an expiration date?
• Are “inactivity” or “dormancy” fees deducted from the value of the gift card if it isn’t used in a set time?
• Are replacement cards available if a gift card is lost or stolen? Is there a charge for the replacement?
• Exactly where can the cards be used? Can they be used on the Internet, or only for in-store purchases?
• Can the cards be swapped for cash?