Is this really saying that you don't have to disclose the information in (i)and (ii)? Or do I still need to say "Funds do not expire. Call XXX-XXX-XXXX for a replacement card"?
You need to indicate, if there is an expiration date, when that is or if the funds do not expire. If the funds do not expire you do not need to indicate that on the card (staff commentary contradicts itself on this so I would still say "funds do not expire") but you still need to include a toll-free number for fee information. The two need to be displayed in proximity to the expiration date and with equal prominence. I would recommend including expiration on the front and contact information on the back. That is the standard practice with cards.
Staff Commentary:
3. Disclosure of funds expiration--date not required. Section 1005.20(e)(3)(i) does not require disclosure of the precise date the funds will expire. It is sufficient to disclose, for example, “Funds expire 5 years from the date funds last loaded to the card.”; “Funds can be used 5 years from the date money was last added to the card.”; or “Funds do not expire.”
4. Disclosure not required if no expiration date. If the certificate or card and underlying funds do not expire, the disclosure required by § 1005.20(e)(3)(i) need not be stated on the certificate or card. If the certificate or card and underlying funds expire at the same time, only one expiration date need be disclosed on the certificate or card.
5. Reference to toll-free telephone number and Web site. If a certificate or card does not expire, or if the underlying funds are not available after the certificate or card expires, the disclosure required by § 1005.20(e)(3)(ii) need not be stated on the certificate or card. See, however, § 1005.20(f)(2).
-1005.20(f)(2) basically states that you need to provide a toll-free number for consumers to obtain fee information.
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