Consumer experts have urged everyone to check
Shoppers are being urged to check old gift cards, forgotten vouchers, and unused store credit after major fashion retailers revealed they are sitting on millions of pounds in unspent customer money. New research from credit card company thimbl.com found that high street fashion giants ASOS and NEXT are holding £125 million in unredeemed gift cards. Company accounts show online fashion retailer ASOS has £11.1 million in revenue linked to unspent gift cards, while NEXT reported £114.6 million.
The warning comes as families across the UK begin spending heavily on holiday outfits, sandals, swimwear, airport essentials, and children’s summer clothes ahead of the peak summer travel season. Many shoppers rush to buy new clothes online without first checking whether they already have gift cards or unused balances sitting untouched from Christmas, birthdays or previous refunds.
Ipsos polling found 11% of UK adults had vouchers that expired before they could use them in the past 12 months, worth an average of £75.30 per person, rising to £86 among younger shoppers aged 16-34.
Joe Lytwyn, finance expert at thimbl.com, said: “Vouchers are one of the easiest forms of forgotten money, because they are often given at Christmas or birthdays, then quickly buried in inboxes or left in wallets for months.
“A lot of people will be shopping for summer holidays over the next few weeks without realising they may already have £20, £50 or even £100 sitting unused on an old gift card or digital voucher. With household budgets still under pressure, taking a few minutes to search through emails and drawers could genuinely save families money this summer.”
Joe encourages shoppers to search their inboxes using terms such as “gift card”, “voucher”, “store credit”, “ASOS”, “NEXT”, “refund” and “e-gift”, as well as checking old purses, wallets and cashback apps for forgotten balances. Many consumers also forget about digital vouchers stored inside retailer apps or linked to online accounts they no longer regularly use.
Joe says another common issue is consumers assuming gift cards have expired when they may still be valid. Joe said: “Many retailer gift cards remain usable for long periods, although expiry dates and conditions vary between businesses. Some shoppers may also have partial balances remaining on cards they believe have already been fully used.
“I recommend screenshotting digital vouchers when they arrive and storing them in a dedicated phone album or email folder to make them easier to find later. Another tip is to use gift cards strategically during seasonal promotions or summer sales, which allows you to maximise value at a time when many retailers are discounting holiday fashion and accessories.”
Consumer experts are also warning shoppers not to leave gift cards unused for too long, as recovering money can become far more difficult if a retailer collapses. In many insolvency cases, gift card holders are treated as unsecured creditors, meaning there is no guarantee vouchers will be honoured or refunded.
Customers may still be able to use cards while stores continue trading under administration, but otherwise, they may need to submit claims with proof of purchase. In some cases, shoppers who bought gift cards using a credit card may be able to seek protection through Section 75 of the Consumer Credit Act for purchases over £100, while smaller purchases could potentially be disputed through chargeback schemes offered by banks and card providers.
Joe adds: “A lot of people don’t think of vouchers as part of their household finances, but they absolutely are. When money is tight, forgotten balances can be one of the quickest and easiest ways to reduce spending without cutting back on summer plans.
“It only takes a few minutes to check, but many shoppers could end up finding money they had completely forgotten existed.”
