In her regular Basic Instincts column, New York Times financial columnist M.P. Dunleavey today warns of the fees associated with some gift cards, especially bank-issued cards (often, a "mall" card that can be used at several stores is actually a bank card). It's a well-timed piece as the holiday shopping frenzy kicks in soon. More and more gift givers who want to avoid the hassle choose cards. But Dunleavey's well-headlined piece points out that buying a gift card is often like Giving a Gift to Merchants and Banks:

Although Mr. Riley of Tower Group is an industry analyst, not a consumer adviser, after 25 years in this business he urges gift card users to read any fine print carefully. "And just as you might ask what a store's return policy is before you buy something, ask them what their gift card policies are." Mr. Riley said he was hit with some unexpected fees not long ago, when he bought a bank gift card for his son, who was leaving for college. He was surprised to learn, when he read the terms of service, that there was a $5 monthly maintenance charge.