Thursday, 17 March 2022 15:52

Your birthday gift was a Gift Car, it could last you up to two years with possible renovations

Written by Evelyn Alas

Have you ever been given a gift card with an indifferent amount on your birthday or any other occasion and it only lasts for a year?

With the reforms to the Consumer Protection Law, of the Defensoría del Consumidor (DC), presented amendments to the Economy Commission of the Legislative Assembly, seeking to benefit people.

This document comprises 60 articles, 43 of which will be modified and 17 new provisions will be included. A Gift Card is a pre-loaded gift card, used as a means of payment for purchases or services in affiliated businesses. This type of card is a bearer card, valid for one year and with the possible reforms it could be extended to two years.

Some of these gift cards can only be used in certain stores, however, there are gift cards that are allowed in all establishments or stores that accept credit cards, whether electronic or not. In addition, many of them are reloadable, allowing the cardholder the freedom to reuse as many times as needed and add the amount he/she wants. This card is very similar to a credit card, it comes with a magnetic strip on the back, where it registers the exact amount that has been attached to the card.

If you use a debit card and they charge you a membership fee with your same savings. The Defensoría del Consumidor has indicated that they seek to eliminate this charge, with the objective that salvadorans can use their document without a surcharge.

This Consumer Protection Law, regarding economic rights, seeks to develop a legal framework to protect users of financial services in situations of over-indebtedness.