Monday, January 3, 2011

Can't Balance State Budget? Seize Gift Cards and Travelers Checks

New Jersey isn't giving up its effort to seize unused money on gift cards and traveler's checks.

Lawmakers voted last year to allow the seizure of cards after two to three years as a way to raise about $80 million and help balance the state's budget.
But in November, a federal judge temporarily struck down the law.
The Record of Bergen County reports the state isn't giving up though. State treasurer Andrew Sidamon-Eristoff has told a judge that the state will appeal the earlier ruling.
New Jersey Retail Merchants Association, the New Jersey Food Council and American Express [AXP  43.40    0.48  (+1.12%)   ] filed suits to block the law.
More Here..


  1. So if you do not use YOUR money for a couple of years, it now belongs to the state? What a bunch of XXXX!

  2. Government socialists should back off .

    Everybody knows that this money and any free profits /interest earned on that money by the banksters ,in holding that money at no cost to its real owners, properly belongs to the banksters.

  3. 2:33
    You should have read the fine print when you deposit your monies in the banks or buy gift cards. If you save your monies in the banks for retirement and not use them, you will lose them through inflation. It is the same thing as the government taking your monies away.

  4. stop using/giving gift cards

  5. In Connecticut they call that "escheats" or unclaimed property. They also let people reclaim unclaimed property.


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