NY law will allow buyers to redeem low-balance gift cards for cash, prevent cards from expiring

NEW YORK CITY (WABC) -- A new law will help New York shoppers spend those leftover funds on gift cards.

Under the new law, any gift cards or certificates purchased in New York cannot expire within nine years from when it's purchased.

Buyers can also redeem gift cards for cash if the value of the card is less than $5.

The new legislation also prohibits a card's value from declining due to fees.

ALSO READ | 7 On Your Side's Holiday Shopping Guide

Nina Pineda and 7 On Your Side have tips and advice to save money this holiday shopping season.

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