Which regulatory agencies enforce this type of clause?

{'agency': 'CFPB', 'reason': 'The CFPB has jurisdiction over prepaid accounts under Regulation E and may have authority over Steam Wallet if it qualifies as a general-purpose prepaid account.', 'complaint_url': 'https://www.consumerfinance.gov/complaint/'}, {'agency': 'State_AG', 'reason': 'State AGs enforce gift card and stored-value laws that may prohibit or limit the forfeiture of Steam Wallet balances upon account termination.', 'complaint_url': 'https://www.naag.org/find-my-ag/'}

What is the severity of this clause?

ConductAtlas classifies this Steam Wallet — No Cash Redemption clause as medium severity. Severity reflects the magnitude of rights affected, the breadth of users impacted, and the degree of discretion the platform retains.

Steam Wallet — No Cash Redemption — Steam

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What it is

Money you put into your Steam Wallet cannot be withdrawn as cash and can only be spent on Steam.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.

Consumer impact (what this means for users)

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

See how other platforms handle Steam Wallet — No Cash Redemption and similar clauses.

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Why it matters (compliance & risk perspective)

Steam Wallet functions as a one-way payment system — once you load money in, you cannot get it back except through Steam purchases, creating financial risk if your account is terminated or Steam changes its policies.

View original clause language

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.

Institutional analysis (Compliance & legal intelligence)

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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Applicable agencies

CFPB

The CFPB has jurisdiction over prepaid accounts under Regulation E and may have authority over Steam Wallet if it qualifies as a general-purpose prepaid account.
File a complaint →
State AG

State AGs enforce gift card and stored-value laws that may prohibit or limit the forfeiture of Steam Wallet balances upon account termination.
File a complaint →

Provision details

Document information

Document

Steam Subscriber Agreement

Entity

Steam

Document last updated

April 29, 2026

Tracking information

First tracked

April 18, 2026

Last verified

April 18, 2026

Record ID

CA-P-002920

Document ID

CA-D-00181

Evidence Provenance

Source URL

https://store.steampowered.com/subscriber_agreement/

Wayback Machine

View archived versions →

SHA-256

50755f81522ed919eb180755a4517649cb9d59401e7c9a3de1e2701b84171d9d

Verified

✓ Snapshot stored ✓ Change verified

How to Cite

ConductAtlas Policy Archive
Entity: Steam | Document: Steam Subscriber Agreement | Record: CA-P-002920
Captured: 2026-04-18 10:51:33 UTC | SHA-256: 50755f81522ed919…
URL: https://conductatlas.com/platform/steam/steam-subscriber-agreement/steam-wallet-no-cash-redemption/
Accessed: May 2, 2026

Classification

Severity

Medium

Steam Wallet — No Cash Redemption