Money you put into your Steam Wallet cannot be withdrawn as cash and can only be spent on Steam. If your account is terminated, any remaining Wallet balance is forfeited.
This analysis describes what Steam's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This clause defines the scope of Wallet fund utility and establishes Steam's redemption policy. It operationally restricts the fungibility of Wallet balances to Steam's ecosystem, which affects how users may deploy accumulated funds.
The updated agreement no longer explicitly discloses that Steam Wallet funds held by Japanese users will expire six months after being added, or that expiration dates can be reviewed in the Steam Wallet. The removal of this disclosure eliminates the transparency mechanism previously available to Japanese subscribers regarding fund expiration timelines and monitoring options. Japanese law may still impose expiration requirements on stored funds regardless of contractual disclosure, but the agreement no longer notifies users of this expiration mechanism.
View change record →The explicit prohibition on wallet fund redemption and the statement that wallet funds are not legal tender were removed, potentially allowing for future changes to wallet policies.
View full change record →Users who pre-load funds into their Steam Wallet cannot redeem that money as cash and risk total loss of their Wallet balance if their account is suspended or terminated, which may implicate state money transmission and consumer protection regulations.
Cross-platform context
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"Wallet funds will not be returned or refunded and cannot be exchanged for cash or other goods and services outside of Steam, except as otherwise indicated in any specific terms applicable to those funds or unless required by applicable law. [...] Steam Wallet funds are not legal tender or currency.— Excerpt from Steam's Steam Subscriber Agreement
REGULATORY FRAMEWORK: Steam Wallet stored-value provisions potentially implicate state money transmission laws and gift card regulations, including the Credit CARD Act of 2009 (15 U.S.C. §1693l-1) regarding expiration and fee restrictions on prepaid cards; California Business and Professions Code §17538.9 (gift certificate law); and analogous state gift card statutes in New York, Texas, and other states. EU Payment Services Directive 2 (PSD2) and e-money regulations may apply to Wallet functionality for EU users. The CFPB has jurisdiction over prepaid accounts under 12 CFR Part 1005 (Regulation E) if Steam Wallet qualifies as a prepaid account.
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This clause defines the scope of Wallet fund utility and establishes Steam's redemption policy. It operationally restricts the fungibility of Wallet balances to Steam's ecosystem, which affects how users may deploy accumulated funds.
Users who pre-load funds into their Steam Wallet cannot redeem that money as cash and risk total loss of their Wallet balance if their account is suspended or terminated, which may implicate state money transmission and consumer protection regulations.
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