With Christmas fast approaching, many people are starting to finalise their festive shopping lists, and for some, a gift voucher will invariably crop up. I will no doubt be in the same position, as inevitably there’s always someone you think would prefer a voucher.

After a series of retailers closing their doors and failing to honour gift card sales last year, consumers are now being urged to be vigilant.

Comet, Blockbuster, Jessops and HMV all went out of business last year after the Christmas period. That then left thousands of consumers who'd bought gift vouchers soberly out of pocket. Most vouchers were eventually honoured. Some customers, however, never got their money back.

If you buy a gift voucher, there's no guarantee that it will be honoured if the retailer goes into administration. Gift/voucher card holders are at the bottom of the list of creditors.

Consumer groups and trade bodies want this changed.

The UK Gift Card and Voucher Association believes that gift card and vouchers should be guaranteed even if a retailer goes out of business. They would like to see recipients of gift cards and vouchers moved up the list should a retailer close its doors.

At the moment, if you buy more than £100 of vouchers on a credit card then that purchase is covered. Hopefully this will be extended to smaller purchases too.

Think about where you are buying your vouchers/gift cards from. Blockbuster and Barratts are in receivership once again.

Hints/Tips :- Keep up with High Street changes, be vigilant and buy, where possible, vouchers/gift cards by credit card. Check the expiry date on the voucher and set a reminder.