cross-posted from: https://belgae.social/post/2046140

What’s the point of allowing money to expire? If you buy a top-up for a GSM account, what legit reason could there be for allowing carriers to screw over consumers on such an arbitrary basis? Indeed, if you buy phone credit in Belgium, it expires. I just bought a top-up card that had already expired because I did not notice the expiration date in tiny print.

Interesting to notice that some US states have banned gift cards that expire.

  • TachyonTele_Esq@piefed.socialEnglish
    1·
    10 days ago

    You must be very young, or incredibly nieve to not understand how gift cards function. They’re basically IOUs you buy from a company. They are not a form of currency backed by the government.

    • autonomousPunk@belgae.socialOP
      12·
      10 days ago

      How can you be so naive as to think money in the bank is yours? That’s not /your/ money in the bank. It’s the bank’s money. There is an IOU from the bank to you.

      Same with cash money. It’s no longer backed by gold reserves. It’s backed by nothing. All you have is /trust/; just like gift cards. Have look at what’s printed on US dollar banknotes. It’s spelled out for you.