Brits are parting with a massive £300 MILLION a year in unused gift card and voucher credit, new research has found.

A shocking 47% of Brits admit to have been on the receiving end of unwanted gift credit this Christmas, the majority of which often lays dormant and unused.

The vast majority of unwanted items received at Christmas, on the other hand, will be re-sold (23%) or re-gifted (33%).

This week, former EastEnders star Rita Simons swapped her market stall in Albert Square to launch a pop-up shop in Westfield, Stratford, which allows members of the public to exchange their unwanted gift cards for cash or donate the value to The Children’s Trust, a leading charity for children suffering from brain injury.

The gift card swap shop comes at the perfect time of year as the second week of January has been found to be the most popular week for returning unwanted items.

Rita Simons, who exited the popular BBC soap in an explosive storyline over New Year, opened the swap shop as eager shoppers got ready to exchange their unwanted gift cards.

Rita said: “I have a shrewd eye for a bargain –so receiving cash for a gift voucher which might go to waste is a win-win and even better if it can be donated to a good cause.

“It was heartening to see so many generous people kicking off 2017 with a good deed in aid of The Children’s Trust.”

Zeek CEO, Daniel Zelkind, added: “Every year millions of people receive unwanted gift cards that expire before they can be used or just end up in the bin.