Vender Amazon Gift Card? 97 Most Correct Answers

It is not possible to transfer your Amazon Gift Card balance to PayPal. However, there are a few ways to combine these gift cards with PayPal. We will show you how this works, in which cases it is possible and in which situations it is not.

Amazon gift cards are a very interesting shopping tool that not everyone knows about. On the other hand, the relationship between Amazon and PayPal is not very well known: this makes sense since this relationship has changed and the terms of service were only changed a few years ago.

What is an Amazon gift card?

Amazon gift cards are a way to access the products offered on the platform. These are cards that can be used to make purchases in the various sales categories that this retail giant offers its customers.

They are, as the name suggests, a gift that allows the recipient to buy anything they want and allow for a degree of personalization by choosing the color of the card and its design.

It is therefore a gift that you can give to other people and that will allow them to buy whatever they want, always on the Amazon platform or in stores that accept payments with this gift card.

Keep in mind that many online retailers accept gift card payments, including Amazon. So if you got one of these cards as a gift, check the payment terms of the merchants you’re interested in to see if they accept them for your purchases.

How do I transfer my Amazon card balance to PayPal?

It is not possible. There is no way for you to transfer funds between an Amazon gift card and your PayPal wallet. Therefore, you cannot transfer the available balance back and forth.

However, that doesn’t mean you can’t use this Amazon Gift Card from PayPal. You can add the gift card to your PayPal account to use for purchases.

How do I add my gift card to PayPal?

While you couldn’t add the Amazon gift card balance to your PayPal wallet as mentioned above, it is possible to add the Amazon gift card to your PayPal account.

It’s important to understand the difference between transferring the balance, which would mean funneling money back and forth, and adding the card, which allows you to use it as a payment method until your balance runs out.

The steps to add the Amazon gift card are the same as adding a MasterCard or American Express card:

Sign up for PayPal

Select the wallet section

Select the option to link a debit or credit card

Choose the manual map linking option

Enter the information you are required to provide about the card, including the card number, expiration date, and CVV code

Complete the process and accept

At checkout, link the Amazon gift card to your PayPal account. You can then select this card as a payment method for your purchases.

Can you transfer the Amazon gift card balance?

no Just as your Amazon gift card balance can be transferred to your PayPal wallet, it is not possible to transfer your Amazon gift card balance to your bank account. On the other hand, financial institutions do not accept your gift card as a payment method either.

The easiest way would be to either use the card as a direct payment at the platforms or merchants that accept it, or tie it to PayPal as a payment method.

Ever cleaned out an old drawer and found a stack of unused gift cards? How about that initial excitement turning to disappointment as you remember the reason you put it in a drawer in the first place?

Most of them were probably for shops or restaurants that you weren’t really interested in.

Instead of leaving unwanted gift cards in hiding, you can actually exchange them for cash. And it turns out that making money from old gift cards is relatively easy.

However, not everyone knows that gift cards can be used to make money. According to a recent Bankrate survey, half of US adults have unredeemed gift cards and credit — but only 8 percent of the adults surveyed have ever resold a gift card. Given that the average value of those unused gift cards and credits is $167 per person, that’s a lot of money we’re leaving on the table — or in our desk drawers, in this case.

Would you like to convert your old vouchers into cash? Here are some ways you can make money from unwanted gift cards:

Sell ​​your gift cards for cash

Once you’ve officially made the decision to part with your gift card, there are many official websites that can help you sell your gift cards to people who may actually want to use them.

Companies like Raise and CardCash let you sell gift cards for up to 92 percent cashback. While you won’t get away with 100 percent of the card’s value, you can use these sites to convert old gift cards into cash, which you can then use to buy whatever you want.

Reputable gift card resale sites also ensure your gift card transactions stay safe with money-back guarantees and fraud protection. Why is that important? Well, when weighing the pros and cons of selling a gift card through a resale site versus selling it directly to someone on social media, you need to consider all of the potential security issues. If you sell gift cards person to person, you might come across online scammers or people who will take your gift cards without making you the promised payment.

Exchange your gift cards for cards you like better

If you like having gift cards but don’t like any of the gift cards you have, there is always an option to exchange your gift cards for cards from other stores.

With CardCash, for example, you can exchange your gift cards for gift cards of the same value – or in some cases cards worth up to 7 percent more. When you use a gift card exchange site like CardCash, not only do you make money with a gift card that you wouldn’t otherwise use, but you potentially get a few extra bucks to spend at a store or restaurant that you visit actually do it would you like to treat yourself.

Avoid redeeming credit card rewards for gift cards

There’s one more thing you need to know about making money from gift cards – in most cases, redeeming credit card points, miles, or cashback for gift cards isn’t the best use of your hard-earned rewards. While you can redeem credit card rewards for gift cards, you often receive less value than you could have earned by redeeming your rewards for bank statements, travel bookings, or online purchases.

If you want to maximize your credit card rewards, it’s best to avoid converting your points, miles, or cash into gift cards. Instead, take some time to learn which rewards redemption methods offer the most bang for your buck. For example, if you have a Chase travel credit card, your points are often worth more when you redeem them for travel through Chase Ultimate Rewards — meaning you’re leaving money on the table when you redeem your Chase Ultimate Rewards points for gift cards.

The final result

If you don’t use a gift card within the first few months of receiving the gift, you probably won’t use it fully. For that reason, it’s a good idea to know how to convert gift cards to cash, how to exchange gift cards for cards you could actually use, and how to get the most out of a gift card that’s otherwise sitting idle in a desk drawer or desk drawer would lie online account.

Instead of collecting a bunch of unwanted gift cards, find the method that works for you and turn the card into cash that you’ll actually use.

What is Amazon Payments?

Amazon Payments is a service that offers you the ability to send payments for goods or services using the payment methods already associated with your Amazon account. To make a payment, you can use a credit or debit card, or the balance of an Amazon Payments account.

How do I log on?

You will be automatically prompted to sign up for an account when you make your first payment with Amazon Payments. If you already have an Amazon account, you can set up a personal account with Amazon Payments that allows you to send payments by credit card.

Am I protected when using Amazon Payments?

If Amazon Payments charges your credit card or bank account without authorization, you can dispute the charge with us. Depending on how quickly you notify us of unauthorized transactions, you may not be responsible for these charges.

If you make a payment for a product or service and you don’t receive the item or it differs significantly from what the merchant advertised, you can dispute the transaction and request a refund. Learn more about transaction disputes.

Will my payment information be passed on to third parties?

We do not share your credit card, debit card, or bank account information with any third party without your consent. You don’t have to share your payment information with anyone else when you use Amazon Payments. Because your Amazon Payments account is linked to your Amazon account, any changes you make to the payment methods in your Amazon Payments account will be reflected in your Amazon account (and vice versa).

What payment methods can be used with Amazon Payments?

You can make a payment with credit or debit cards. Accepted cards include Visa, Delta, Visa Electron, MasterCard, Eurocard and American Express. Learn more about adding payment methods to your account.

Can I add and verify a bank account today?

Yes, you can instantly add a bank account to withdraw money from your Amazon Payments account to a bank or building society account. In order to fund your Amazon Payments account, you must complete and submit a direct debit form. After you add a bank or building society account, you must verify it before funds can be moved between Amazon Payments and your bank or building society account. For more information, see Adding a bank account.

My company uses a corporate bank account. can i use this

No, you cannot add a corporate bank or building society account to your personal account.

Why do I have to provide security questions and answers?

We use the security questions and answers you provided during registration to protect your account. We will ask you to confirm your security questions and answers when you add new bank account information to your Amazon Payments account.

Can I change my security questions and answers?

No, you cannot change the security questions and answers you provided during account registration.

What if I forgot my security questions and answers?

To protect your privacy and financial information, we cannot share with you the answers you provided when registering for an account. For the same reason, we cannot allow you to reset the security questions. If you forgot your security question or answer and need to verify your bank account, you may be able to complete the verification process through alternative methods. Please contact us to request more information.

How do I change my account information?

You can change your phone number and add, edit, or delete your credit card or bank account after you open an Amazon Payments account and your account is verified. Go to the Amazon Payments website, click the Your Account link, and then click Edit my account settings at the top of the page to manage payments for your account.

Some of your account information, including your email address and password, can only be changed on Amazon.de. Learn more about managing your account information.

Can I convert my personal account to a business account?

Yes, you can upgrade your personal account to an individual business account. Go to the Business section of the Amazon Payments website, then sign up for a business account using your existing personal account email address and password. We will guide you through the business account registration process and your personal account will be converted to a business account.

How do I pay?

When you see that Amazon Payments is an accepted payment method for a product or service you wish to purchase, simply click on the Amazon Payments logo, enter your Amazon email address and password and select then select your payment method. Learn more about payments with Amazon Payments.

How do I withdraw funds from my Amazon Payments account?

If you wish to withdraw funds from your Amazon Payments account, you can do so by initiating a wire transfer to your bank account. In order to transfer money to your bank, you must complete the bank account verification process. Learn more about withdrawing funds from your Amazon Payments account.

I think I just received a phishing email. What can I do?

If you receive a phishing email message, we ask that you report it as soon as possible. Please contact us to report a phishing email message. Learn more about identifying and reporting phishing emails.

I’m having a problem with my account or trying to complete a purchase using my account. What can I do?

We’re sorry you’re having an issue with Amazon Payments. Here are some steps you can try:

Please verify that you are correctly entering the email address and password associated with your Amazon account when attempting to complete a purchase.

If you enter your account email address and password but are unable to complete your purchase, please verify that your payment method is set up correctly. To do this, follow the steps outlined in our online help topic, Managing Your Account.

If your payment method is set up correctly but you’re still unable to complete your purchase, please use the contact form in Amazon Payments.

If you are unable to create an Amazon account or do not have an Amazon account, please go to the Amazon.co.uk website, click the ‘Help’ link in the top right corner, click the ‘Contact Us’ button and then on “Skip”. Sign in button and then follow the instructions on the page. You can contact us via email or request a call from customer service.

self service

Get answers to questions about your Amazon Payments account.

Disclaimer: This content is not intended as financial advice and is for informational purposes only. aTimeforCash is reader-supported. We may earn commissions if you purchase through our links at no cost to you.

Since the launch of the Cash App, it has become an increasingly popular way to send and receive money.

You may be wondering how to use the Cash App on Amazon. The good news is that it’s incredibly easy, all you need is your smartphone.

To use Cash App on Amazon, first log into your Cash App account and select the “Payments” tab. Under “Settings” select “Add new map”. Enter your Cash App card number and expiration date, then click Save.

Now you can pay for Amazon purchases with your Cash App card.

Note that using the Cash App on Amazon may incur a small fee. For more information, see the terms and conditions of your Cash App account.

Here’s how you can use the Cash App on Amazon.

In this post:

Can you use the cash app on Amazon?

Yes, you can use the Cash App on Amazon. You can use the Cash App to pay for items you buy on Amazon. You can also use the Cash App to receive payments from other people for items they’ve bought on Amazon.

On the checkout page, select the “Pay with Cash App” option. You will be redirected to the Cash App website where you will need to enter your credentials and confirm the payment.

Once the payment has been processed, you will receive an email confirmation from Amazon.

Cash App is a convenient way to pay for items from Amazon.com.

The app is available on Android and iOS devices and can be used to pay for items with just a few clicks. Also, the Cash App offers low transaction fees and no monthly fees.

So if you’re looking for an easy way to pay for your Amazon purchases, the Cash App is the perfect option.

How to add a Cash App card to an Amazon account

Now that you have your Cash App card, it’s time to add it to your Amazon account. Here are the steps:

1. Go to Amazon and login to your account.

2. Click on the “Your Account” tab at the top of the page.

3. Scroll down and click Add Payment Method.

4. Click on “More payment methods”.

5. Click Cash App Card.

6. Enter your Cash App card number and expiry date.

7. Click Add Card.

8. Confirm your details and click Add to continue.

9. If you get a notification that says “We couldn’t add the payment method, try again later.”

Don’t worry! You can simply wait up to 48 hours to verify your card. After this period, your Cash App card will be successfully linked to your Amazon account and you can start shopping.

Can you use the Cash App on Amazon without a card?

Yes, you can use the Cash App on Amazon without a card. You don’t need a physical card to use your Cash App account on Amazon – you can just link your account and pay with your phone.

This makes it easy to shop online without worrying about extra cards or cash. Also, the Cash App offers great security features that protect your information while shopping.

So if you’re looking for a convenient way to pay for your Amazon purchases, the Cash App is a great option.

Is it safe to use the Cash App on Amazon?

The answer is yes, it is safe to use the Cash App on Amazon. Cash App is one of the most widely used mobile payment methods on the site. This is because Cash App has a reputation for being a safe and reliable payment method.

Also, using the Cash App on Amazon is a great way to save money on your purchases. That’s because Cash App offers discounted prices for Amazon purchases when you use the app to checkout.

So if you’re looking for a safe and convenient way to pay for your Amazon purchases, the Cash App is a great option.

Are there any fees for using the Cash App on Amazon?

There are no fees for using the Cash App on Amazon. You can use your Cash App to pay for items you buy on Amazon.

You can also use your Cash App to withdraw funds from your Amazon account. There are no fees for either transaction.

Are there any restrictions on using the Cash App on Amazon?

Yes, there are some limitations when using the Cash App on Amazon. For example, you cannot use the Cash App to purchase items sold by a third party on Amazon.

Also, you can’t use the Cash App to buy digital downloads or Prime memberships on Amazon.

However, you can use the Cash App to buy physical goods from Amazon, and you can also use it to pay for shipping and taxes.

If you have any questions about using the Cash App on Amazon, be sure to contact the Cash App customer service team. They are happy to help.

Can you use the Cash App in an Amazon Go store?

The answer to this question is yes – you can use the Cash App in the Amazon Go stores. Amazon Go is a new kind of business that doesn’t require queues at the checkout. You simply scan your phone as you enter the store, and then you can grab and exit the items you want.

Cash App is a great way to pay for your items in Amazon Go stores. It’s fast, easy and secure. You can also use the Cash App to receive cashback from your purchases.

So if you’re looking for a convenient way to pay for your items on Amazon Go, the Cash App is a great option.

Can you use an Amazon gift card in the Cash App?

Yes, you can use an Amazon gift card in the Cash App. To use an Amazon gift card in the Cash app, first add the card to your account. Then when you’re ready to pay online, select the Amazon gift card as the payment method.

Amazon gift cards are a convenient way to pay for things online. With the Cash App, they’re also a convenient way to pay for things offline. If you have an Amazon gift card, add it to your Cash App account. You may find that you use it more often than you thought.

Cash App is a convenient way to pay for things online and offline. Amazon gift cards are also a convenient way to pay for things on Amazon. If you have an Amazon gift card, add it to your Cash App account. You may find that you use it more often than you thought.

Wrap up

Cash App is a great way to save money and have the products you need delivered straight to your door. Also, Cash App is a secure payment method that makes online shopping easy and convenient. Try it today and see for yourself how awesome it is.

references

Frequently asked questions about Amazon Pay balance. Click on the link to view the following information in your preferred regional language: Hindi, Tamil, Telugu, Kannada, Malayalam, Marathi, Bengali.

Can I transfer Amazon Pay balance: money to the bank?

Currently it is not possible to transfer money from your Amazon Pay balance: money to a bank account or another Amazon Pay balance account.

For the general terms and conditions please click here

Why can’t I add Amazon Pay balance: Money?

Please check the following:

Your account name cannot contain numbers or special characters.

A cell phone number and official ID should be added to your account. Check the same in your account settings

It could also be that your full KYC is pending. If this is the reason, you will be prompted to complete Full KYC. If none of the above issues persist, you may have reached your monthly loading limit. View your updated limit via the Add Funds option

Why can’t I spend Amazon Pay balances: money?

Please check the following:

You may have reached your monthly spending limit of Rs.10000. In this case you can use your remaining balance in the next month. Perform KYC to remove this limit.

Your cart may contain any of the restricted items, including gift cards, valuable jewelry, or items from the Global Store.

Where do I review my Amazon Pay balance transactions?

All Amazon Pay balance transactions can be tracked using the View Bank Statement option.

Where can I change the auto reload settings?

To enable or disable, go to the Auto Reload option and follow the on-screen instructions.

Amazon Pay Balance Terms and Conditions: Money

More questions

What is Amazon Pay balance?

Amazon Pay Balance is a digital payment solution enabled by Amazon Pay (India) Private Limited that allows you to transact online on Amazon.in and our partner sites and apps.

The credit consists of two different components: money and gifts & credit. Therefore, the total Amazon Pay balance = Money + Gifts & Credit.

Money stores any balance you add to the Amazon Pay balance yourself, while Gifts & Balance stores your gift card balance and any cashback or refunds issued to you. You can view the breakdown of the amounts at any time on your bank statement.

How do I top up Amazon Pay balance: Money? How long would it take?

You can top up your Amazon Pay balance: Money with an Indian-issued debit card through Net Banking and Amazon Pay UPI.

You can also top up your Amazon Pay balance with credit: money by paying cash at your door. Click here to learn more. This cash load function is not allowed for small PPIs (without cash load function); See Terms and Conditions for more details.

You can also top up your Amazon Pay balance with credit: money by paying cash at your door. Learn more by clicking here

A top-up is usually credited immediately, but in some cases it can take up to 15 minutes. If you top up Amazon Pay balance: Cash on your doorstep, the amount will be credited to your account in 4-5 minutes. In exceptional cases, however, this can take up to 6 hours.

Why can’t I see my existing credit card to top up my Amazon Pay balance: Money account?

We currently have Amazon Pay balance top-ups disabled: Money account with credit cards. However, you can use any other acceptable payment instrument such as UPI, debit card or Net Banking.

How do I cancel my Amazon Pay balance: Money account?

If you wish to close your Amazon Pay Balance: Money account, please contact our customer service team at amazon.in/contactus

Are there any usage restrictions?

After an Official ID is added to your Amazon Pay Balance: Money account, you can start using Amazon Pay Balance: Money. The monthly loading limit will be capped at Rs. 10,000. If your account undergoes full KYC, the monthly top-up limit will be capped at Rs. 5 lakhs as per our policy. However, your Available Balance may not exceed Rs at any time. 1 lakh. To learn how to do a full KYC, go here.

If you top up Amazon Pay Balance: Money (min KYC account) at your doorstep by cash top up and do not have full KYC on your account, the annual cash top up limit is limited to Rs.49000. Once Full KYC has been performed on your account, the total monthly cash load is capped at Rs.4000.

Are there usage fees?

No, there are no fees when you top up Amazon Pay balance: Money.

Where can Amazon Pay balance be used?

Amazon Pay balance can be used to buy more than 3 million products on Amazon.in and partner sites and apps, excluding Amazon Global Store items, Amazon.in gift cards and precious jewellery.

Does Amazon Pay Balance Expire: Money?

There is no expiration date for Amazon Pay Balance: Money, however Amazon may impose an expiration date where required and required by the regulator. Before this happens, you will receive regular reminders via email and mobile phone. You can find more information in our General Terms and Conditions.

Can I set a spending limit?

Yes, you can set a limit on how much you can spend from your money in Amazon Pay balances. This can be done in two ways:

Set up a limit on the amount you can spend per transaction.

Set up a limit on the number of transactions you can make per day.

If you would like to set this up, please contact us at amazon.in/contactus

Note:

This limit cannot exceed your standard Rs.10000 monthly spending limit if you have a Min KYC account.

This limit cannot be applied to the Gifts and Credits component of your Amazon Pay balance.

How do I get a refund for transactions made using Amazon Pay balance?

The refund will be made to the original payment method, in this case Amazon Pay balance. If a transaction was partially paid for by credit card, the refund will be credited to the credit card or Amazon Pay balance.

How do I update my account details?

You can update your account details in the account settings.

Is it mandatory to update an official ID number to add Amazon Pay balance: Money?

As this is an RBI mandate, you should update an official ID number to your Amazon Pay Balance: Money account to add funds. However, you can continue to use the Gifts and Credits component without updating this information. You can also use existing Amazon Pay balance: money, if you have it.

Is it safe to add my Official ID on Amazon?

Your official ID details are stored in a secure, dedicated database and access to the data is restricted. In addition, our secure server software encrypts all your personal information so that it cannot be read as the original text sent to us.

I cannot upload the documents to the Amazon app

This happens when your Amazon app is not updated to the latest version. Please update the same via App Store/Play Store.

Please try to upload the government ID with the option “take photo”.

Where can I find the 4-digit verification code that the courier asks me to process a cash load?

The courier will need this information if no official ID has yet been updated on your account. In such cases, go to www.amazon.in/OVD and update the information to get the code. If you have previously added your government-issued ID but the courier is asking for the 4-digit verification code, please go to Account Settings. You can find the 4-digit confirmation code here.

Visit Common Gift Card Scams to learn more about protecting yourself from potential scams online.

Can you transfer the Visa gift card to a bank account? The best ways to try

This post may contain affiliate links. This means that if you choose to make a purchase through our links, we may earn a commission. Please read our disclosure for more information.

You may have received or earned a Visa gift card and don’t know what to do with it. Perhaps you want to convert the card into cash to use later or for other purchases?

According to Blackhawk Network, 42% of consumers use their gift cards immediately. If you’re one of the 58% who want to use it for future purchases, this article is for you.

We’ve rounded up the best options for transferring a Visa gift card to your bank account. We also checked various sources, watched YouTube videos and read recommendations from other users.

You can find the most convenient and cheapest way to transfer Visa gift card balance to your bank account, so don’t skip this article. In this way you avoid fees and lengthy processes.

Ways to transfer money from Visa gift card to bank account

It might seem difficult to transfer the funds from a gift card to your bank account, but here are eight ways to easily do it.

Sell ​​your gift card for cash

Selling your gift card is a safe and convenient way to get money from your card. Once you have sold your card you will be paid into your bank account or PayPal. The only catch is that you get a little less than the value of the gift card.

Use Raise to sell your gift card

With Raise, your cards can be sold within 24 hours. You also have the option to pay by bank transfer, PayPal or check.

Check out these steps for using the site.

Visit the website and then go to the Sell Gift Cards page. Enter the store name, gift card number, and balance. You can set the price of your gift card so it can be sold quickly when you need cash right away. Raise also allows you to change the sell price before someone buys the card.

However, Raise charges a 15% commission fee on every gift card you sell. It’s a good compromise considering the convenient process.

Sell ​​directly to someone else

You can also offer the card to friends or family who may need it. There is no chance of getting scammed using this method as you are directly selling them to someone else.

Aside from offering it to friends, you can also use Craigslist and Facebook or any other site that allows direct selling.

Here’s how you can sell on Craigslist.

Visit the website and then tap the Create Post button. After selecting “For sale by owner”, select the category and fill out the form. Click “Publish” when you’re done entering the details and uploading the photos. Confirm listing via email sent from Craigslist.

You can follow these steps if you prefer to sell on Facebook.

Open the Facebook app, then tap the Marketplace icon. Click Sell and under Create a New Listing, tap Items. Provide details, upload photos, set the sale price, then tap Publish.

After receiving the money from the buyer, you can already deposit it into your account.

Link the gift card to PayPal

You can transfer the gift card balance to a bank account using PayPal.

By transferring your card balance to PayPal, you avoid forgetting your gift cards, especially if you have a lot of them.

Here’s how you can use PayPal to deposit your card.

Sign in to your PayPal account, then select “Wallet” from the menu. Tap Link a debit or credit card, then tap Link a card manually. Enter your Visa gift card details, then click Link Card.

After you have linked your gift card, you can select it as a payment option. In addition, PayPal does not charge any fees for this transaction.

However, there may be technical difficulties when paying with the card. In this case, you may need to activate your Visa gift card.

Check the back of your card so you know where to register. You can also call your gift card provider to activate it.

Luckily, some cards are activated automatically. So you can use it immediately after receiving it.

Here is another method to deposit Visa gift cards into a bank account. This method is also free.

Visit the CardCash website, then enter the merchant’s name and the gift card amount. After providing the card details, tap Get Quote. Click “Continue” if you agree to the offer. Enter the gift card number and PIN to connect to PayPal. Sign in to your PayPal account. Tap “Check my PayPal Balance” to complete the transaction.

You can expect to wait 1 business day for the funds to be credited to your account. You then transfer the amount to your linked bank account.

You can also visit CardSell which has almost the same process. It deposits directly into your PayPal account within 48 hours.

Note that the exchange rate is different for each company, so there is no fixed value for your gift card.

Pay bills with your Visa gift card

In addition to cash and credit cards, you can also use Visa gift cards to pay your bills. You can use such gift cards in almost any store that accepts Visa Debit.

While you can’t technically transfer the funds to your bank account, you can use them like a debit card. All you have to do is show it at the cash register or insert the card into a reader.

Be sure to register your card to avoid difficulties with the checkout process.

Some of the establishments that accept Visa gift cards:

retail stores

gas stations

restaurants

online shops

If you want to be sure whether the stores will accept it or not, you can call them before you leave home. That way you can avoid going back and forth when you find that they don’t accept gift cards.

Trade for cash at a gift exchange kiosk

You can also cash out the gift card at a currency exchange counter and then deposit the money into your bank account.

But first, where can you find these kiosks?

Note, however, that kiosk availability varies by location. It’s best to call a nearby store to make sure they have a gift exchange kiosk.

The kiosk looks like an ATM and is a self-service kiosk that you can easily operate.

You will need to enter the gift card details, which are sometimes embossed on the card. Some cards have barcodes that you can swipe or scan with your device. The ATM monitor shows the cashback offer and card information.

Store: Walmart Credit: $50 Card ending in xxx Cash Offer: $45

You can accept the offer if you are happy with it. If not, you can cancel the transaction free of charge. When you take it, the kiosk will print a coupon with the cash offer amount. Present the voucher at checkout to receive the specified amount. You can now deposit the funds into your bank account for later use.

Typically, stores charge 15% to 40% of the original amount on your gift card. For example, if you have a $25 card, most retailers will offer cashback of $21.25 or less. Luckily, some kiosks only collect 10%, so you can get $22.5 for a $25 gift card.

But that comes at the price of convenience, as you can get cash from your card instantly. You don’t have to wait days to deposit it into your bank account.

Link your bank account to Square

Square has provided millions of sellers with a payment system and e-commerce platform to sell their products and services.

To that end, Square enables wireless connection and linking of debit, credit, and Visa gift cards. This allows you to transfer money from a gift card to your bank account.

How to link your account to Square.

Sign in to your Square account, then go to “Account & Settings”. Under Bank Accounts, select Add Bank Account. Enter the routing number and account number, then tap Confirm.

You can expect approval within 4 business days, excluding holidays and weekends.

After you’ve added your bank account, you’ll need to use a Square reader so you can transfer the funds to your account.

Insert your card into the magnetic stripe reader to fund your account. Square deducts a 2.75% processing fee for each swipe. If you don’t have a Square account, you can enter card details manually, which incurs a higher fee of 3.75%. It is therefore best to use the Reader.

Good news: Square serves millions of businesses, so you can easily find a store that uses the reader.

If you want to own a Square reader, you can check the following retailers:

It’s available in a Lightning connector and a headset jack for $10. Buying it from Square’s website will require you to provide company details, which will be difficult if you don’t have any.

Add the gift card to Venmo

You can also use Venmo to transfer a Visa gift card to your bank account.

Check out the following steps for the linking process:

Open the Venmo app on your iOS or Android device. Sign in with your email address, username, or mobile number, then enter your password to sign in. Go to Settings and then select “Payment Methods” under the “Settings” tab. Click Add Bank or Card to enter details like card number and expiration date.

You can now select it as a payment method when purchasing items.

It is also possible to deposit the money into your bank account for free. To do this, you must select the Standard option and not the Sofortüberweisung option. If you choose the standard method, you can receive the money within three business days.

Some users report that Venmo displays a fraud prevention alert. Other cards may also request a zip code associated with the gift card.

If you experience these issues, you can contact the company at (855) 812-4430. You can also submit a request in the Venmo Help Center.

Buy a money order

Because a Visa gift card works like a debit card, you can use it to pay for money orders. You can avoid problems like bad checks and lost cash with money orders.

Some stores where you can buy a money order with a gift card:

Cost Walmart $1 per $1,000 transaction USPS $0.50 to $1.95 Western Union $0.50 to $1.50

Note that only some stores accept this form of payment, so you must contact the store first before purchasing a money order.

You can check out these general steps to purchase.

Go to your favorite store or establishment that offers money orders. Inform the staff that you wish to purchase a money order. Pay with the gift card. After you receive the money order, write your name and the recipient.

Remember to keep the proof of purchase so you can contact the store if you have any problems.

You can now deposit the money order into your bank account. It’s free because banks treat money orders like checks.

All you have to do is present the money order, identify yourself and provide your account details.

Transfer via MoneyGram

You can also use MoneyGram to transfer the gift card balance to your bank account. This process is entirely online, so you don’t have to commute to a MoneyGram branch.

Go to MoneyGram’s website, then tap the Sign In button in the top right corner. Enter your email address and password. Wait for MoneyGram’s email to verify your account. Select “Send Money” in the top menu bar. On another page, the website asks you to enter the payment details including the amount. Enter your bank details such as the recipient’s name, address and card information. Click Next for MoneyGram to process the transfer.

You can expect the money to appear in your account after a few minutes.

Note, however, that MoneyGram charges a $1.99 fee if your transfer is less than $200. If you send more than $200, you will be charged 1% of the amount in addition to the $1.99 fee.

Do gift cards have sort codes and account numbers?

First, what are routing and account numbers?

A sort code is a nine-digit code that identifies financial institutions. On the other hand, an account number is a unique combination of numbers embedded in every debit and credit card.

They are used when you send money to your account.

Gift cards do not have these numbers. Therefore, you cannot send or add money to the card. You can just transfer the funds to your bank account or spend them immediately.

Can you send money with a gift card?

You can send money with a Visa gift card, but not directly as you have to use digital banking apps like PayPal and Venmo.

By linking or adding the gift card to these apps, you can transfer money to friends and family members.

Here’s how you can transfer money with PayPal.

Go to PayPal’s website, then tap Send & Claim. Choose between “Send to friends and family in the US” and “Send to friends and family internationally”. Enter the recipient’s email address, enter the amount, then tap Next. Click “Send Money Now” after verifying the details.

You can follow these steps if you are using Venmo.

Open the Venmo app, then click Pay or Claim. Select a recipient from your contact list, then enter the amount. Review the information and confirm the transfer.

Summary: Fund your bank account with Visa gift cards

Receiving a gift card is a pleasant surprise, but you don’t have to spend it right away.

You can save your gift card balance by transferring it to your bank account. Luckily, there are many ways to do this: using PayPal, Venmo, Raise, Square, MoneyGram, and bureaux de change.

You can also sell your gift cards, either to a website or to someone else. After that, transfer the money to your account for future purchases or savings. It’s also easy to purchase a money order and then deposit the check into your bank account.

Add money to your savings account with these tips and tricks.

A gift card is a card that can be used to shop at retail stores, restaurants, gas stations, and other specific locations. These cards require funds to be loaded before they can be used, and some allow you to transfer your balance to online platforms. That’s why today we’re going to learn how to transfer your Visa Gift Card balance to PayPal.

In most cases, these cards are free to load, although there are some fees when you buy them. Some are rechargeable, but the vast majority are useless once the balance is depleted.

So, if you want to know how to transfer Visa gift card funds to PayPal, I invite you to read on carefully.

How can a gift card be purchased?

Gift cards can be bought both online and in physical stores and usually come in different denominations. You can easily buy them in a physical store with cash and even use your credit or debit card to pay for the transaction.

These cards are electronically loaded with the specified amount so you can send them to someone else to use. One of the most accessible stores where you can buy gift cards is Walmart. These cards can also be bought quickly and easily online. You can buy a physical or an electronic card depending on your needs.

How do you use gift cards?

These cards are easy to use as they can be used in the store that issued them. However, some are tangible gift cards that can be used to purchase products at various stores or even online.

Tangible gift cards can be used both online and in physical stores, and if you run out of funds you can just throw the card away. If the card is rechargeable, you can keep it and recharge at any time.

How do I transfer a Visa gift card balance to PayPal?

PayPal is a money transfer platform that allows you to transfer money from one person to another. In addition, you can transfer the balance of a Visa gift card to your PayPal account to use for various types of transactions.

You can do this by linking the gift card to your PayPal account so that the money can be added to the balance. The linking process is straightforward; follow these steps:

Sign up for PayPal, either in the app or in the online version.

Go to the PayPal Wallet section.

Look for the option to link a debit or credit card.

Click Manually Link Map.

Enter the card information.

Select “Link map”.

Once the card has been linked successfully, you can add the funds to your PayPal account. Go to “Add Funds to Your Account” and select Gift Card as the Funding Source. This balance can be used to fund all of your PayPal transactions.

Can I use PayPal to buy a gift card?

Some gift card merchants allow you to buy gift cards through PayPal. You select the gift card you wish to purchase and use PayPal as the payment method to authorize the transaction.

If you don’t have enough funds for your transaction but have a linked bank account or card, the money will be debited from there. You must ensure that the gift card balance can be used with PayPal.

Is it possible to transfer money from PayPal to Cash App?

It is not possible to transfer money directly from PayPal to the Cash App as the two platforms do not allow money transfers between themselves. However, there is an option to transfer the money from the Cash App to a standard bank connected to PayPal and use that as a bridge to transfer the money.

In order for you to be able to perform this operation, both apps must be linked to the same bank account. This is a process that can take longer, but you can end up transferring funds between the two platforms.

Can a Visa gift card be loaded with PayPal?

PayPal can be used to purchase a gift card, and some gift cards also support top-ups via PayPal. However, you must ensure that the Visa card can be loaded with cash using PayPal, a bank account, or in a physical branch.

You can also transfer money to a debit card instantly, just like you transfer money to a bank account. In these cases, you can go through the same process as transferring money to a bank account, but you’ll need to choose a compatible Visa card instead.

Why is it beneficial to add your Visa gift card to PayPal?

Note that adding a Visa gift card to PayPal offers many attractive benefits, such as:

You can pay for the items you purchase using your PayPal account by withdrawing the money directly from the card. This makes it safer and more flexible than using the card, and you can shop at any merchant that doesn’t accept prepaid cards as a form of payment.

You can easily and quickly move money between PayPal and the prepaid card.

You can use PayPal as a hub to transfer the money from the Visa gift card to your bank account. This can be very useful if your bank doesn’t support free transfers between your checking account and prepaid card.

You can send and receive money from your friends using your prepaid card as the source or destination of the money. The money can easily be transferred to your card.

There are many advantages to transferring money from your Visa gift card to PayPal, especially as it is very versatile. That way, if you receive such a card as a gift, you can use it for any purchase you want.

How to become a gift card seller?

CoinCola is also a platform for selling and buying gift cards. It’s a great place to exchange bitcoin with gift cards.

If you need to buy a lot of gift cards, we encourage you to post a gift card offer and become a seller. How it goes? This guide will be useful to you.

Video link: https://www.youtube.com/watch?v=0YOI-N3WANc

Step 1: Download and register first. Open the CoinCola app and click on “Gift Card Trading”.

Step 2: Go to the gift card page, click “+” and then select “Place an ad”.

Step 3: Select “POST GIFT CARD OFFER” (two types of offers, fiat and gift card)

Step 4: Fill out the offer details including: Currency (the value of the gift card with a currency. USD, EUR, etc.); payment method (i.e. what type of gift card); Label (the requested gift certificate)

Step 5: Enter additional information. Same as “Rate” (should enter a bet with numbers

Step 6: Fill in the “Terms of Trade” to describe this offer. Finally, click on “Post” and complete it.

Note: Please make sure you have at least 0.01 BTC in your CoinCola wallet in order to successfully post a gift card offer.

Do you still have some confusion, do not hesitate to contact us: +852 90653442.

Disclosure: This post may contain affiliate links, which means that if you decide to purchase or sign up through my links, I will receive a commission at no cost to you. Please read my disclaimer for more information.

Trading gift cards can be a very lucrative business, that is, if you know how to play your cards properly. Here’s the only guide you need to buy and sell gift cards profitably.

The gift card industry is valued at $1 trillion in 2020 — that’s a lot of money. Millions of people still use gift cards for personal purchases every day, and it’s no surprise.

Getting gift cards at discounted prices is undeniably attractive.

And while consumers love them, retailers consider gift cards an integral part of their business, as they draw people into their stores and encourage them to make more purchases.

Gift cards are one of the most popular gifts around the holiday season.

Offering a gift card from a store you know your friend loves has more impact than handing out cash and is more convenient than having to buy an item you’re not sure your friend will love becomes.

The bottom line is that gift cards are here to stay, and aspiring moneymakers can still use their popularity to make money by flipping gift cards — one of the most lucrative side hustle ideas once you study how the market works.

If you are new to this trading game, sit back and relax. There is much to learn and much to absorb.

Here is a comprehensive guide to buying and selling gift cards for profit.

What is gift card flipping?

What is gift card arbitrage and how exactly do you start flipping gift cards? Selling or exchanging gift cards can be very confusing for those unfamiliar with the practice.

In short, the goal of flipping gift cards is to buy a gift card for less than its face value and make a profit on resale.

The scenario plays out as follows.

The seller buys a $50 gift certificate for $40. The seller sells the $50 gift card (which he bought for $40) for $45. A buyer buys the card and earns $5 in savings (they bought a $50 gift card for only $45), while the seller makes $5 of profit (they sold a gift card they bought for $40 for $45) .

In order for the seller to make a profit, they must have purchased the gift card for less than $45 – their intended retail price. However, if he got the gift card for free, he takes home the entire $45 prize.

Trading gift cards has two challenges: where exactly do you get discounted or free cards, and where do you find people buying what you’re selling?

In this guide, we’ll show you how to get gift cards for free, how to buy them at discounted prices through sites like MyGiftCardsPlus, and how to sell them to your friends or through online selling platforms.

Ready to make money? Read on below!

Where can I get free gift cards?

If you are looking to make money online by selling gift cards, it is important to know where to get these cards for free as this is where you will make the most money.

Here are your options:

your personal belongings.

Billions of gift cards go unused every year, so there’s a good chance you have gift cards in your drawer, purse, or wallet that you’re not interested in using.

Selling your unwanted gift cards might be the best option as you don’t have to spend them or lift a finger to acquire them.

Your credit card rewards.

Credit card companies are happy to give out reward points that you can exchange for gift cards. If you’re a regular credit card user, find out how many points you currently have and how much you need to spend to exchange them for gift cards.

Consider cashback sites.

Some cashback sites reward you with points for every online purchase you make. These points can be exchanged for a variety of gift cards that you can sell for profit. Consider these cashback apps if you want to sell gift cards:

With this cashback app you can get up to 40% cashback on your purchases, but as a beginner you will only get 5% to 10%. If you choose the app over your friends and family, you get even more.

Rakuten members get access to gift cards for over 2,500 stores. Receive a $10 bonus just by signing up.

Cashback payment method Min To

Cash Out Next Steps Up to 40% PayPal or Gift Cards $5 CLAIM BONUS Read the full review

Drop lets you choose five specific vendors to shop from, and purchases you make from those vendors will earn you a certain cashback percentage.

You can redeem your points to get gift cards from places like Amazon, Starbucks, and Netflix.

This cashback app gives you cashback without having to take photos of your receipts. All you have to do is download the Dosh app, link your credit card, and the platform will verify your spend with its partner stores.

You’ll find a list of popular retailers including Nike, Target, and Walmart.

Ibotta, one of the most popular cashback apps, requires you to take photos of your receipts and upload them to the app to receive cashback.

The platform claims to work in over 500,000 locations across the United States.

This platform allows you to get up to 100% money back discount from 4,400+ stores including Best Buy, Groupon, E-Bay, Walmart and more.

When you sign up, you’ll receive a $10 bonus gift card.

Would you like to find out more? Read more in this TopCashBack review.

Sign up for market research platforms.

Several market research platforms pay you in points for answering surveys and participating in a variety of online activities.

These points can be exchanged for gift cards at thousands of partner shops and establishments.

If you want to purchase or exchange gift cards, you can consider these platforms.

Perhaps the most popular among paid survey platforms, you can earn an average of $1 to $3 for each survey you answer.

You can use your earnings to get free gift cards from Groupon, Amazon, iTunes, Sephora, Walmart, and Starbucks, among others.

Earn per activity Payment method Min To

Cash Out Next Steps 1 – $40 PayPal & Gift Cards $5 REGISTER Read Full Review

This paid survey platform allows you to earn up to $5 in Amazon gift cards or prepaid gift cards for every survey you answer.

You can also cash out your earnings once you have earned a total of $30.

Earn per activity Payment method Min To

Cash Out Next Steps Up to $5 Cash & Gift Cards $30 CLAIM BONUS Read Full Review

The unique selling point of this survey platform are the interesting surveys that you really want to answer.

For every survey you answer, you can earn from 10 to 500 points, which can be redeemed for a variety of gift cards.

Earn per activity Payment method Min To

Cash Out Next Steps $0.6 – $1 Lifepoints are paid out in PayPal $20 CLAIM BONUS Read the full review

Just like other paid survey websites, this survey platform follows a points-based reward system. You can earn points for simple online activities such as online shopping, answering surveys, and watching videos.

Each survey you answer can earn you anywhere from 50 cents to $2, which you can redeem for gift cards for eBay, Walmart, Macy’s, iTunes, Sephora, and more.

Earn per activity Payment method Min To

Cash Out Next Steps $0.4 – $2 PayPal or Gift Cards $3 BONUS CLAIM Read Full Review

The best places to buy discount gift cards

If you can’t get cards for free, the second best way to earn more is to buy them at discounted prices and sell them at a higher price. Discounts on gift cards may vary based on market value.

You will find that gift cards for popular brands have lower discount prices than other products. If you want to sell gift cards, you can buy them here at discounted prices.

Ask your friends and family.

A great place to start looking for discounted gift cards is with people you already know. Ask your friends and family if they have any gift certificates lying around that they would like to give away.

They could offer you a bargain of 10% to 20% of the total face value. That means you can buy a $100 gift card for $80, leaving room for profit.

Buy direct from stores during sales hours.

Another method of securing gift cards at a discount is to shop directly at the stores themselves during promotional periods. You can also consider buying them in bulk to get the best value for each card.

Buying from wholesale sites.

You can find a variety of sites such as Sam’s Club where you can save up to 20% on a group purchase of cards. Buying gift cards in bulk can result in discounts and pretty attractive savings.

Buy from websites.

If you want to sell gift cards at discounted prices, you can choose to buy them from websites that sell them at lower prices. Here are some of the best options.

Powered by Swagbucks, every gift card you purchase from MyGiftCardsPlus plus earns you up to a 10% cashback percentage. MyGiftCardsPlus works with over 150 retailers and restaurants.

With the cashback you earn on this platform, you can buy even more gift cards to sell at discounted prices.

eBay

eBay allows you to buy discounted gift cards from a variety of local stores, mostly sold by sellers looking to sell them. If you are lucky, you will find discounts worth more than 50%.

However, be careful as you will most likely come across scammers.

This platform offers discounts of up to 35% at around 100 brand retailers. Some of the gift cards sold here are only available as codes and are only consumable through online purchases.

With gift cards from merchants like Petco, Home Depot, and BestBuy, Cardpool is a great choice if you want to sell gift cards at profitable prices.

Get up to 35% off gift cards with a wide range of physical and electronic gift cards.

How to sell gift cards profitably

Now that you’ve acquired a solid selection of gift cards using our tips above, it’s time to determine how to sell them and make a profit. Most of these sites offer you a percentage cashback on the gift cards you sell them.

For example, if you sell a $100 gift card at face value, you will receive up to 92% cashback that you can cash out for real money or exchange for other gift cards.

In order to make a profit selling electronic gift certificates online instantly, you need a solid strategy. Let’s say your goal is to sell a $100 Walmart gift card at face value and make a profit.

Here’s how you can benefit from these websites:

Buy a $100 Walmart card at a discount via one of the tips listed above. For example, let’s say you bought a $100 Walmart gift card for only $90 from MyGiftCardsPlus. Your next goal is to find a platform that offers cash for gift cards with a cashback percentage of over 90%. This will ensure that you make a profit. Since Cardpool offers up to 92% cashback on gift cards, you get $92 for a Walmart gift card that costs only $90, giving you a total profit of $2.

The best places to sell gift cards

With the above strategy in your arsenal, it’s time to scour the web for the best gift card flipping sites.

Most of these sites only allow you to sell gift cards for percentage cashback, which means you won’t get the full face value of the card you’re selling.

This ensures that the platform also makes money on your gift cards.

1. Card pool

Cardpool is arguably the most well-known and trusted platform to sell gift cards online (it has an A+ rating from the Better Business Bureau).

The platform acts as a broker and acts as both a buyer and a seller of gift cards.

You can sell a wide range of physical and digital gift cards to Cardpool from most major retailers, as long as they don’t have an expiry date or associated fees.

If you choose to sell a gift card to Cardpool, the platform can issue you a check within one day of receiving your card on the site, or you can exchange your gift cards for Amazon.com e-vouchers.

Cardpool claims you can earn up to 92% of your card’s original value, making it one of the highest online buyers.

2. Grandma gift card

Gift Card Granny, another popular gift card arbitrage site, allows you to sell your gift cards or instantly trade gift cards online for gift cards you actually want to use.

The platform offers three different selling options for gift card pinball players looking to make a profit.

Sell ​​Now: By selecting this option, you can choose to sell your cards at the platform’s best offer while receiving payment within a few days. This option is the quickest way to get paid.

By choosing this option, you can choose to sell your tickets at the best offer on the platform while receiving payment within a few days. This option is the quickest way to get paid. Name your price: If you’d rather set a price on your gift cards rather than follow the platform’s sell-now price, you can list your card online. While this option prolongs the sale of your tickets, it allows you to make even more profit this way. When someone buys your gift card through the platform, you receive payment.

If you’d rather set a price on your gift cards rather than follow the platform’s sell-it-now price, you can list your card online. While this option prolongs the sale of your tickets, it allows you to make even more profit this way. When someone buys your gift card through the platform, you receive payment. Trade in: You can trade in gift cards that you don’t want for gift cards that you actually want to use. Gift Card Granny offers several popular retailers to choose from. The trade-in option gives you a higher payout.

3. Raise.com

Raise is another famous gift card platform with over 2 million buyers and sellers. The platform claims it has helped shoppers save over $150 million through discounted gift cards so far.

You can list your gift cards on the platform for free, with the ability to set your own selling price. Raise pays its sellers by direct deposit, check, or PayPal once their gift cards are sold and takes a 15% discount off your total sale price.

The amount you should discount your gift cards by depends on the competition. If you want your cards to sell easily, you should offer a bigger discount to advance and make it to the top of the listings.

When you list your card on the platform, you will be shown the applicable discount rates for gift cards from the same store. If your gift card is from a well-known brand, there’s a good chance it will sell quickly.

4. CardCash

CardCash allows you to sell cards that are full value or even partially used. The amount you get when you sell gift cards through CardCash varies, but the platform claims you can get up to 92% of the total value of your card.

The platform can pay you cash through a check, an ACH deposit, or through PayPal. CardCash also allows you to exchange your gift card for other gift cards from different brands.

Note that the platform does not accept gift cards with an expiry date, as well as some promotional gift cards that can only be used in certain locations or for certain products.

Once CardCash receives your order, payment will not be initiated until your cards have been fully checked for balance and fraud. Payment is usually made within 24 to 48 hours of receiving your card.

5. QuickCashMI

QuickCashMI is another gift card selling and exchange platform that allows you to sell cards from popular brands like Ace Hardware, Macy’s, Rite Aid, Old Navy, Amazon, and Gap, among others.

QuickCashMI offers up to 90% cash for your gift cards. The platform allows you to sell gift cards in three ways:

In person: Visit any of QuickCashMI’s physical locations and start selling your gift cards right away. While this method is the quickest way to get cash, it may offer the lowest payout.

Visit any of QuickCashMI’s physical locations and you can start selling your gift cards right away. While this method is the quickest way to get cash, it may offer the lowest payout. By Mail: If you send your gift cards by mail, you may be paid by check. This process offers the highest payout, but it can also be the slowest (it can take at least 10 business days for your payment to arrive). If your goal is to get paid quickly, this is not the option for you.

If you send your gift cards in the mail, you can be paid by check. This process offers the highest payout, but it can also be the slowest (it can take at least 10 business days for your payment to arrive). If your goal is to get paid quickly, this is not the option for you. Redeem online: You can also send your gift card code online. This offers more money than selling in person, but less money compared to selling by mail. It takes about 5 business days to process the payment.

6. Pawnshops

There are a variety of pawnshops that buy and sell gift cards including 1st United Pawn and Loan, Gem Pawn Brokers, and Lou’s Jewelry & Pawn.

Note, however, that not all pawnshops accept gift cards. To make your search easier, you can go to PawnGuru.com and submit your gift cards. The platform will let you know which pawnshops are likely to accept your gift cards.

See also: Convert Visa gift cards to cash

Pros and cons of flipping gift cards

Before you buy and flip gift cards, consider the pros and cons associated with this practice.

Here’s everything you need to know.

The cons of flipping gift cards

Acquiring discounted (or free) cards requires a lot of work. If you want to make a profit using this method, you need to be constantly on the lookout for offers. You also need to be in tune with market supply and demand to know which brands have the best selling gift cards. Reselling gift cards will not bring you massive profit. You will likely make around $2-$3 or even less from each gift card. To make any significant income, you would need to trade a lot – and trading a lot requires you to be efficient at acquiring cards. Scammers abound in this business. If you’re not careful, you can buy cards that no longer have any value, or sell cards that no longer work because someone stole the code. Buying and selling gift cards on eBay or Craigslist, for example, is not recommended as these are unsecured places where scammers are rampant.

The benefits of flipping gift cards

You don’t have to invest a lot of money when you start turning gift cards. You can start with just a few gift cards and work your way up from there. Gift cards can be very popular during peak seasons like holidays, so you can take advantage of major retailers’ shopping trends to earn more. Flipping gift cards is a flexible side hustle to work on in your free time. With no goals or commitments, it’s a great gig for people who don’t have much time on their hands.

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Gift Certificates and Gift Cards FAQs and Tips: Legal Guide S-11

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FAQs and tips on gift certificates and gift cards

December 2010

You want to give a gift to a friend, but your friend “has everything” or you don’t know what to give.

By giving a gift certificate or card, you enable your friend to buy the item or product they want. You might also want to buy a gift card for yourself from a store you frequent.

This legal guide answers frequently asked questions about gift certificates and gift cards sold after January 1, 2004 as it relates to California law. Since most of the answers also have exceptions, be sure to read the entire answer. Please note that the federal government also recently enacted regulations regarding gift certificates and gift cards, effective August 22, 2010.1 Federal law can preempt California law when conditions are inconsistent and federal law better protects the consumer. Because the federal regulation is so recent, specific preemption issues have not been decided by the Board of Governors of the Federal Reserve System, nor have they been heard in court. This office believes that where laws conflict, the law that most protects the consumer should be followed. For an overview and comparison of state and California gift card laws, see attached Tables A and B.

Gift certificates and gift cards are governed by laws that establish these basic rules:2

Most gift certificates and gift cards sold by retail sellers for use with the seller and its affiliates may not contain an expiration date or a service fee, including a hibernation fee. 3

Any Gift Certificate sold after January 1, 1997 may be redeemed for cash or replaced with a new Gift Certificate at no cost to the purchaser or holder. 4 Effective January 1, 2008, any gift certificate with a cash value of less than US$10 in cash, including currency or checks, may be redeemed for its cash value.

Effective January 1, 2008, any gift certificate with a cash value of less than US$10 in cash, including currency or check, may be redeemed for its cash value. California laws governing gift cards and gift certificates cannot be repealed.5

FREQUENTLY ASKED QUESTIONS ABOUT GIFT VOUCHERS AND GIFT CARDS

Q.1. Are a “Gift Certificate” and a “Gift Card” the same?

A. Yes. However, the terms exclude a gift card that can be used at multiple independent sellers of goods or services (e.g. a card that can be used at all or some stores in a particular mall)6 provided the expiry date is given is printed on the card.7 In addition, the rules described in this Legal Guide do not apply to prepaid calling cards issued solely to provide an access number and authorization code for prepaid calling services.8

F.2. Can a gift certificate or gift card have an expiration date?

On a. However, this general rule is subject to the following exceptions:

A gift card that can be used at multiple independent sellers of goods or services may contain an expiry date. 9 If so, the expiry date must be printed on the card.

In this case, the expiry date must be printed on the card. A Issuer may accept funds for the purchase of a Gift Certificate from one or more Contributors as a gift to another person (the “Recipient”) and may require a date by which the recipient must redeem the funds. This exception applies only provided that each donor receives a full refund of the amount paid if: the funds are donated for the purpose of redemption by the recipient through the purchase of a gift certificate; Contributors and the recipient will be clearly informed in writing of the date by which the recipient can repay the funds; and the recipient fails to redeem the funds within the specified time limit. 10 The difference here is that the contributor(s) do not buy the gift card themselves, but contribute money that is deposited with the seller until the recipient uses the money to purchase a gift card.

The difference here is that the contributor(s) do not purchase the gift card themselves, but contribute money that is held with the seller until the recipient uses the money to purchase a gift card. Certain gift certificates or gift cards 11 sold after January 1, 1998 are not subject to any of the rules discussed herein. To be exempt, such gift certificate or gift card, if any, must include an expiration date in capital 12 letters in at least 10 point type on the front of the card and must either:

sold after January 1, 1998 are not subject to any of the rules discussed here. To be exempt, such gift voucher or gift card must include an expiry date, if any, in capital letters in at least 10 point type on the face of the card and must be either: distributed by the issuer free of charge to a consumer under a rewards, loyalty or advertising program; 13 or

or Donated at below face value or sold at a volume discount to employers or non-profit and charitable organizations for fundraising purposes if the expiration date is 30 days or less after the date of sale; 14 or

or Issued for perishable goods.15

F.3. Can a gift certificate or gift card include a service charge?

On a. A gift certificate or gift card must not contain a service charge, including a hibernation (non-use) charge.16

However, there is an exception to this general rule for gift cards when:

The value remaining on the gift card is $5.00 or less each time the fee is charged; and

The dormant fee is $1.00 per month or less; and

The card has been inactive for 24 consecutive months (e.g. no purchases, “top ups” or balance requests); and

The holder can load or top up the card; and

A statement in at least 10 point typeface is printed on the card stating the amount and frequency of the fee, that the fee is triggered by inactivity, and when the fee will be charged. This statement can be on the front or back of the card, but must be visible to the buyer prior to purchase.17

A seller of unaffiliated vendor cards with no expiration date – many of which are sold by banks like prepaid debit cards – may take the position that such cards do not fall within the definition of “gift cards” and therefore service fees or dormant fees may be charged without disclosure. When purchasing “unaffiliated multiple seller” cards, buyers should be careful not to have answered all questions regarding the terms of those cards and should carefully review their terms before purchasing.

F.4. Can the holder of a gift certificate or gift card redeem it for cash?

A. This depends on the seller’s policy. The gift certificate law states that a seller must either redeem a gift certificate or gift card sold after January 1, 1997 for its cash value or replace it with a new certificate or card free of charge.18 California legislature, however, is concluded that a seller need not redeem a gift card for cash when requested by a consumer.19 Therefore, some gift card sellers will redeem the gift card for cash or a combination of goods and cash, while some will redeem a new card for a issue the remaining balance after the original certificate has been redeemed. A gift certificate or gift card without an expiry date is valid until redeemed or replaced.20

Notwithstanding any policy of Seller, effective January 1, 2008, a gift certificate with a cash value of less than ten dollars ($10) is redeemable for cash value (not a new certificate or merchandise).21 Cash for purposes of this section includes cash or checks. 22 If a Seller accepts funds for a Gift Certificate from one or more Contributors as a gift to another person (the “Recipient”), the Seller must refund each Contributor the amount paid in full for the Certificate if the date the Recipient receives the funds through can redeem the purchase of a gift certificate, the contributors and recipient are clearly notified in writing and the recipient does not redeem the money by the specified time.23

F.5. Can the holder of a service-required gift card use it to purchase a service-free gift card?

A. It appears to be a possibility, although the owner may not require it. The Gift Voucher Act obliges the issuer of a gift voucher or gift card to redeem it, but also limits this obligation to either redeeming the voucher or card for cash or replacing it with a new one. Since the California Legislative Counsel has concluded that the issuer (not the holder) can choose between these two methods,24 the likely answer is that the issuer can set its own policies.

F.6. What happens if the seller of the gift certificate or gift card files for bankruptcy?

A. A gift certificate or gift card sold by a seller filing for bankruptcy protection may have no value. However, the holder of the certificate or card may have a claim against the insolvency estate.

Sellers who file for Chapter 11 bankruptcy (restructuring) intend to remain in business and therefore typically seek permission from the bankruptcy court to redeem gift certificates to maintain good customer relationships.

If the bankruptcy court does not allow the gift certificate or gift card to be redeemed, or if the seller files for Chapter 7 (Liquidation) bankruptcy, the gift certificate or gift card holder will be a creditor in the bankruptcy proceeding. They have relatively high priority among unsecured creditors in a Chapter 7 case and may receive some percentage of the value of the certificate or card, but only if the bankruptcy estate has sufficient assets to pay claims. For information on filing a claim and other basic bankruptcy information, see Consumer Tips on Retail Store Bankruptcies under the Publications tab at www.dca.ca.gov and then the Consumer Publications section. for the list of consumer publications.

A recently passed California law aims to help gift certificate and gift card holders if the seller files for bankruptcy. It requires a bankrupt seller to redeem gift certificates issued before the date of the bankruptcy filing.25 No court has ruled on the effectiveness of this law.

F.7. Does an unredeemed gift certificate go to the state?

A. Not if it doesn’t include an expiration date. Specified tangible and intangible personal property held or owed in the ordinary course of business and unclaimed by the owner for more than three years reverts (reverts) to the state. Probate laws do not apply to gift certificates, which are subject to the rules discussed above. However, they apply to all Gift Certificates that legitimately contain an expiration date.26

F.8. Where can I get a copy of the Gift Certificate Act?

A. Gift certificate law is California Civil Code Sections 1749.45-1749.6. The California Civil Code is available from county law libraries and law schools. Check the white pages of the phone book in county government and business directories. The Civil Code is also available on the web at http://leginfo.legislature.ca.gov/ under the California Law button.

TIPS FOR GIFT CERTIFICATE OR GIFT CARD BUYERS

Ask about the seller’s return policy. If the recipient can only redeem the gift certificate or card for goods or for a specific type or class of goods, does this affect your decision to purchase or gift the certificate or card?

In the case of a gift card that can be used by multiple independent sellers, inquire about expiration dates and applicable fees. Also, ask about the locations where the unspent portion of the value can be redeemed and how that amount can be redeemed. This is important even for “single seller” cards, many of which can be purchased at an unaffiliated location.27

In the case of a gift card, ask the seller if the recipient can add value or “top up” the card.

Ask the seller about their return policy. A recipient redeeming a gift certificate or gift card for goods is subject to these policies.

Consider purchasing a gift certificate or gift card from a retailer for use with them and their affiliates. These gift vouchers and gift cards are protected by the Gift Voucher Act. On the other hand, gift vouchers and gift cards that can be used at multiple sellers that are not affiliated are not fully covered by the Gift Voucher Act.28

TIPS FOR GIFT CERTIFICATE OR GIFT CARD RECIPIENTS

Ask about the seller’s return policy. Some merchants may redeem the gift certificate for cash or a combination of goods and cash, while others will issue a new certificate for the remaining balance after the original certificate has been redeemed.

In the case of a gift card, ask the seller if value can be added or “loaded” on the card. Also, ask about service or rest fees.

Use the remaining value on a gift certificate or gift card. If a gift certificate or gift card has a low balance, use it to make a purchase and pay the difference out of pocket.

Ask the seller about their return policy.

*****

Prepared by: John C. Lamb, Senior Staff Counsel, Legal Services Unit, January 2004; Revised by Norine Marks, Senior Staff Counsel, July 2008; revised by Claire Yazigi, Human Resources Consultant, December 2010.

NOTE: We try to make our legal guides accurate at the time of publication, but they are guidelines only and not definitive statements of law. Questions about the application of the law to specific cases should be addressed to a specialist.

This document may be copied if all of the following conditions are met: the meaning of the copied text is not changed; Credit is granted to the Department of Consumer Affairs; and all copies are distributed free of charge.

ENDNOTES

112 Code of Federal Regulations, Section 205.20.

2California Civil Code Sections 1749.45-1749.6.

3California Civil Code Section 1749.5(a).

4California Civil Code Section 1749.5(b).

5California Civil Code Section 1749.51.

6California Civil Code Section 1749.45(a).

7California Civil Code Section 1749.45(a).

8California Civil Code Section 1749.45(b). Section 17538.9 of the California Business and Professions Code permits certain fees and practices relating to prepaid calling cards. Effective January 1, 2005, this exception was amended to clarify that a redemption date is not another name for an expiry date. (Statistics 2004, Ch. 319 (AB656) [Montagebodenanalyse, 11 Aug 2004].)

9An argument has been made that vendors in a single mall are in fact “affiliated” under the law because they have agreed to accept the cards. This argument has not been tested and it is doubtful that it would succeed. In addition, many “multiple seller” cards are issued by banks that can be used in a manner similar to prepaid debit cards. A seller of these unaffiliated multi-vendor cards may take the position that such cards without an expiration date are exempt from the definition of “gift certificates” under Civil Code Section 1749.45(a) and therefore service fees or inactivity fees may be charged and need not be disclosed. To our knowledge, this argument has not been tested. While such an argument could be made in light of Civil Code Section 1749.45(a), such charges could actually deplete the value of the card and violate the spirit of the law. When purchasing “unaffiliated multiple seller” cards, buyers should be aware that not all questions regarding the terms of these cards have been answered by legislators or the courts.

10 California Civil Code Sections 1749.5(a)(1),(f).

11California Civil Code Section 1749.5(d).

12Although the term “capital letters” appears in the law, we conclude that this requirement would not apply if the specified expiry date consisted only of numbers.

13California Civil Code Section 1749.5(d)(1).

14California Civil Code Section 1749.5(d)(2).

15California Civil Code Section 1749.5(d)(3); 83 Ops. Cal. Atty. Gen. 243 (2000). The Attorney General’s Opinion concluded that a gift certificate for a meal sold by a restaurant must not contain an expiry date. In our opinion, the 2008 amendment to this section clarified and confirmed the Attorney General’s position by limiting the exception to “perishable food products” and not just “food”.

16California Civil Code Section 1749.5(a)(2).

17California Civil Code Section 1749.5(e). These rules do not affect service fees imposed before January 1, 2004. (Statutes 2003, Chapter 116, Section 4 (AB 1092).) Furthermore, if a card seller could be used successfully with unaffiliated, multiple sellers take the position that these prohibitions do not apply to the card, because it does not contain an expiration date and is therefore exempt from the definition of a gift certificate under section 1749.45(a).

18California Civil Code Section 1749.5(b)(1).

19California Legislative Counsel, Opinion no. 1488 (February 11, 1997) Gift Certificates; see also California Civil Code Section 1749.5(b)(1) regarding gift certificates sold after January 1, 1997.

20California Civil Code Section 1749.5(c). Stats 2004, chap. 319 (AB656) closed a ‘loophole’ by allowing an expiration date to be designated as a redemption date. See Assembly Floor analysis of August 11, 2004.

21California Civil Code Section 1749.5(b)(2). Statutes 2007, Chapter 640 (SB 250).

22California Civil Code Section 1749.5(b). For the same reasons asserted in the Legislative Counsel Opinion referenced in note 16, we believe it is a matter of seller policy whether the value of the gift card is redeemed for cash or a check. In our opinion, any seller who accepts the card should be able to redeem the unspent portion.

23California Civil Code Section 1749.5(f).

24California Legislative Counsel Opinion No. 1488 (February 11, 1997) Gift Certificates.

25California Civil Code Section 1749.6(b) (Statutes 2002, Chapter 997 (AB 2473)).

26California Code of Civil Procedure, Sections 1520-1520.5.

27 For example, a supermarket like Safeway may sell Borders gift cards that can only be used on goods in Borders stores. While these cards may not include an expiration date or fees, the question may arise as to where an unspent portion can be redeemed.

28California Civil Code Section 1749.45(a).

FDIC Consumer News – December 2019

Printable version

December 2019 – PDF

Version imprimible en Español

December 2019 – PDF

So you can enjoy giving and receiving

Gift cards can be a practical gift for holidays and special occasions. Although they appear simple, it is important that both the giver and the receiver read the details for each card to avoid misunderstandings, and additional guidelines may be set by the merchant or bank issuing the card.

Federal law provides protection

The Credit Card Accountability Responsibility and Disclosure (Credit CARD) Act provides several protections for consumers who purchase certain types of gift cards, including store and restaurant (aka merchant) gift cards. These cards can only be redeemed at the stores and restaurants that sell them. Bank gift cards that bear the logo of a payment card network (e.g. Visa, MasterCard) are also protected under the Credit Card Act and can be used wherever the brand is accepted.

By law, a gift card can expire no earlier than five years from the date of its activation. The law also provides for general fee restrictions. For example, the card issuer cannot impose a dormancy or inactivity fee on a gift card unless there has been no activity for a year and the card clearly states its policy regarding that fee. In addition, some states have separate laws that provide additional protections in certain circumstances.

To learn more about the laws protecting consumers who buy gift cards, visit:

National Conference of State Legislatures (NCSL)

Gift Cards and Gift Vouchers Statutes and Legislation

Federal Trade Commission (FTC)

FTC has gift card tips for Christmas shopping

Beware of scams

Scammers often use gift cards to scam people out of their money because it’s like cash – any misuse is difficult to trace. Unlike credit cards, consumers typically have no recourse if a gift card is stolen or used in an unauthorized manner, making it very difficult to reverse purchases or receive a refund in these situations.

Another common scam is someone posing as an attorney for a family member, claiming that the family member is in trouble with the law and needs help. They contact you by phone or email and ask you to buy gift cards of certain amounts to pay for them. These are all red flags of a scam and once you’ve bought the gift cards, the scammers will ask you to give them the code numbers and PINs, which are usually found on the back of the cards, so the scammer can redeem them.

Remember that no company or government agency will ask you to make any gift card payments. So if you are contacted in this way, it is most likely a scam. It’s also a good rule of thumb to never make a payment over the phone or wire transfer unless you can confirm the payment request is legitimate.

Also, watch out for gift card scams if you’re selling items. Someone may contact you to buy the item you are selling and tell you they will send a check for the purchase price and ask you to give them the difference in the form of a gift card, but as soon as you try to deposit that /redeem check, find out it’s fake.

For more information on identifying and avoiding fraud, see:

Federal Trade Commission (FTC)

Scammers demand gift cards

Pay scammers with gift cards

If you think you have been the victim of gift card fraud, report the situation to your local police station. You may also want to notify the Federal Trade Commission (FTC), which prosecutes scams and fraud. You can file complaints about fraud with the FTC by visiting the FTC Complaints Assistant.

In addition, you should immediately report the scam to the merchant or company that issued the card and ask if they can refund your money. Most issuers have toll-free numbers available online so you can call to report a lost or stolen card. You may get back some or all of the money left on the card, and sometimes there’s a fee if they issue a refund, but it’s still worth reporting. You may be required to provide the receipt and card number, so keep this information.

Tips when buying gift cards

Avoid buying gift cards from unfamiliar websites. Cards may be counterfeit or stolen, so be sure to buy gift cards from sources you know and trust.

If you buy a card from a retailer, check before you buy. Make sure the codes on the back of the card have not been scratched off to reveal the PIN number.

Be sure to read the fine print on the gift card. Know the terms. Is there an expiration date? Are there any fees for using the card? Are there any charges if the card is not used for a certain period of time?

If possible, register your gift card. This can protect you in case the card is lost or stolen.

Now that you are better informed, be sure to share this information with your gift recipient so they can prepare too!

For more information on gift cards, see the Consumer Financial Protection Bureau article: Giving or Receiving Gift Cards? Know the conditions and avoid surprises.

Prepaid cards are also popular gifts, but the protections available are different than those outlined here for gift cards. For more information on prepaid cards, see the CFPB under New Protections for Prepaid Accounts and the FDIC Consumer News article entitled “Is the Money on My Prepaid Card FDIC Insured?”

For additional help or information, visit FDIC.gov or call the FDIC toll-free at 1-877-ASK-FDIC (1-877-275-3342). Please send your story ideas or comments to [email protected]

Our Manufactured Spending Complete Guide lists many ways you can increase your credit card spend to get most of it back, and the inherent risk varies from one method to the next. A popular way of making spend is gift card resale, where you buy gift cards from merchants (at a discount or with a strong enough category bonus) and sell them for a break even amount or even a small profit, earning you what you pay for feels like “free” bonuses. If I can offer one tip regarding all of MS’ methods, it would be this: Always be careful how much you share – whether you’re gift cards, reselling merchandise, or buying Visa and Mastercard gift cards. There have been reports of some people having problems with checks from gift card resale site The Plastic Merchant in the past few days. While Mike Dean, the owner of The Plastic Merchant, tells us that these issues were temporary and have been fixed, we’ve had some conflicting reports as to exactly what happened. I have personally sold gift cards to The Plastic Merchant with no problems and have been in contact with a number of members who have recently sold gift cards and received payment as expected. But I’ve also had contact with a reader whose check bounced and a few people who have heard very similar stories on their extended networks. It’s a good reminder to spread your risk, be careful, and go slow when poking your toes into spending.

Gift Card Resale: Public vs. Private Marketplaces

There are many ways to resell gift cards – sites like GiftCardGranny.com and GiftCardWiki.com list the prices at which you can sell your gift cards on various marketplaces:

As you can see, the “buy” prices vary based on the face value of the card, physical vs eGift, and also based on the market you are selling in. While you’ll see familiar names on the list – like Raise, CardCash and CardPool, you’ll also notice that the market with the highest payout for Best Buy gift cards at “92%+” of face value is something special called GCW Trading club”. Although I have never sold with the GCW Trading Club I understand that it is a private club. Presumably clubs like this buy large quantities of cards firsthand (ie cards you bought directly from a retailer or from something like PayPal Digital Gifts on eBay). By keeping the membership private and only buying first-hand gift cards, they can ensure that their cards are “clean” (not stolen or bought with stolen credit cards) – and therefore, in theory, the private club can return the gift cards to theirs at a higher price Resell customers (who in turn can be confident of receiving clean cards). Anyway, that’s the gist of it. For a miles and points lover, it allows them to sometimes buy a gift card and resell it at a break-even point (thereby earning “free” rewards), or sometimes even a small profit + rewards. The private gift card resale club makes money, the club’s customers earn legitimate/unused gift cards and the Miles & Points enthusiast earns rewards. It’s a win-win-win situation. So much so that you’re wondering why you didn’t think of it, right?

possible dangers

While this may sound like roses, sunshine, and blue skies all day, there are some potential problems. For example, if you purchase physical gift cards, you may need to mail them to your chosen marketplace. I’ve done this a few times with ABCGiftCards and CardKangaroo (last year’s epic Sam’s Club Amex offer left me plenty of gift cards). But what if your envelope gets lost in the mail? What if the person opening it has butterfingers and misplaces one of your cards…or sticky fingers and misplaces it in their pocket. Sending gift cards through the mail can be scary as they are spent like cash. It’s risky.

And so eGift cards have a nice appeal. When you sell eGift cards, you don’t need to physically mail anything – just upload the card information and you get paid. Some exchanges pay through PayPal, others use ACH transfers, and some send a check. All of these methods sound the same…at least until you walk into the bank with a larger-than-average check with a name like “SaveYa” and get suspicious looks from a teller I like to call “The Skeptic”” (Note: I’ve never attended Save Ya sold. I’ve sold to others; I can’t imagine The Skeptic would be more impressed if the company name was Save Ya.)

Some recent negative reports are a reminder to proceed with caution

A few days ago, a Frequent Miler reader brought to our attention a post on PointChaser.com about a private gift card exchange called The Plastic Merchant. If you attended the Chicago Seminars or FTU Chicago, you may have met Mike Dean, owner of The Plastic Merchant, and/or some members of his team. The Plastic Merchant has been around for a little over two years and is a popular private resale site in the Miles & Points community – although membership is required and not all new membership applications are accepted. I personally sold a decent amount of gift cards to The Plastic Merchant in late 2017, although in 2018 I still haven’t sold enough to get a check. My experience with The Plastic Merchant has been very positive; I’ve sold large quantities of gift cards at once (certainly a lot less than some of the biggest consumers, but more at once than a casual seller). I was paid by check on time and have received multiple checks for thousands of dollars with no issues.

However, the PointChaser post in question (See: The Plastic Merchant Tutorial: How to Sell Gift Cards) was met with significantly negative feedback in the comments, with a number of commenters stating that some members had received checks from The Plastic Merchant that bounced were during the last few weeks. PointChaser received enough backlash from readers to post a follow-up later that day (which included an update with an answer from The Plastic Merchant’s Mike Dean – see: The Plastic Merchant’s Payment Issues (UPDATE: TPM answer included) ). In short, Mike explained that The Plastic Merchant had a temporary cash flow problem that lasted a few days and only affected about 20 checks out of 450 sent to sellers. He further explained that in all cases new payments would be expedited and sellers would be reimbursed for insufficient funds fees incurred.

This is of course a big problem for those affected. Some people reported bouncing checks for over $10,000, and some said their bank accounts were closed as a result. That sounded absolutely awful. Since many Internet comments are anonymous and TPM membership is private, it is difficult to assess the truth of some claims. There was one claim from someone who had received back-to-back bounced checks and another from someone who had received a $60,000 check that had bounced. Are these claims completely true? Are they exaggerated? Are they invented by internet trolls? Has anyone else recognized the win-win-win nature of the business and wanted to put TPM out of business by making outlandish claims? I certainly didn’t know – and I still don’t know all the details, to a large extent.

However, I reached out in search of more information. I have written to people I know who have done business with TPM. I wrote a post in Frequent Miler Insiders asking for data points (I asked everyone who sold gift cards to TPM in the last 3 weeks if they had problems with the payment or not and I asked people said they could PM or email me if they didn’t feel comfortable sharing publicly). I found an acquaintance I met in person who reported receiving a bad check. This person received a replacement check, although it took a few days and wasn’t as smooth/quick as one might hope when one’s account suddenly dips a few grand into the red (to be honest, I’m not sure if there is a method that is “quick enough” to correct this). This person reported that they had some other issues with TPM over time and were quite dissatisfied with the experience.

All the other people who have replied to me via Facebook and private channels about their recent experiences with TPM told me that they had recently received payments that processed without any issues, but had heard stories of failed payments on their own extended networks (undeliverable checks). Some reports contradicted Mike’s account of what happened and how.

I contacted Mike directly. I’ve met him at conferences and listened to his podcast interview with the Saverocity Observation Deck (found here) from the Chicago Seminar days. Mike seemed like a nice guy personally – nice enough for me to entrust large batches of gift cards for a few weeks at a time until payment is due – although apart from those few meetings I don’t know him personally. I was hoping to get a slightly more detailed explanation from his end – either about what happened or how it would be prevented in the future – and I included a series of questions in my email. The reply I received was the same comment, word for word, that was given to PointChaser. Since these comments have already been published publicly, I copy the text here again in full:

Nick, we had a ~3 day cash flow problem about two weeks ago where ~20 checks (out of ~450 that successfully cleared our account during the same unspent time) were returned for insufficient funds. Once I got it aligned, I made sure we fixed things on our side and started reaching out to those affected to fix things. In each case, we offered to send either an expedited check or wire transfer if needed. I also explained to each person that I would refund any fees they would incur as a result of the problem. None of the replacement payments or future payments sent to sellers since then have been refunded and this will not be an issue in the future. mike

On the one hand, I would expect most companies that make a public statement about a mishap to make a statement and keep it consistent across different channels. After all, if you give different stories or more or less detail to one outlet or another, you run the risk of angering those who think they received less information. On the other hand, as Mike himself says in the podcast linked above, gift card reselling is an inherently trust-based business, and so I think a few sellers have tested that trust — with those who bounced checks received, that trust is potentially, and understandably, broken.

In fact, the reports I received weren’t all that different from what Mike said – the majority of those who contacted me reported receiving checks with no problems; The one user who received a bad check reported receiving a replacement. Many people reported that the NSF fees from the bounced checks were not refunded, although these reports are second-hand and it is at least plausible that the first step was to reissue payments due and a second step to refund the fees . Of course I don’t know any of this for sure – and had I received a bad check I’m not sure I would be happy even after receiving a replacement. I can imagine the pit in my stomach as I sit on a large bad check waiting for a refund and email communication. It wouldn’t feel good. Also, some people tell me that this isn’t the first time such a problem has happened.

Is it safe to sell to XYZ?

In the future, some will question whether it is safe to sell on TPM – just as one would (and should) question when it comes to selling on other public or private marketplaces. The truth is nobody knows for sure. There are inherent risks in business. I have certainly participated in gift card resale and will likely continue to participate. Before this story broke out, I uploaded some maps for sale on TPM earlier this week. The truth is I have a sizeable amount that I was planning to sell to TPM this week before this news broke. Personally, I’ll be taking it slow to make sure the dust settles rather than diving head first, and will try to spread my risk with a few other marketplaces. At this point I will heed my own advice and be careful how much I decide to float with a marketplace. I will likely continue to sell to TPM as long as my experience remains positive, but will avoid overextending myself. I will keep in touch with others to take the pulse of the situation. To be clear, I am not suggesting that anyone follow my example – there is certainly cause for concern that I find just as troubling as others. It is up to each individual to determine an acceptable level of risk – but be aware that there are risks.

bottom line

Again, it’s always wise to pay attention to how much you’re swimming. As someone who dabbled in reselling merchandise long before other ways of making merchandise, I always advise others to treat reselling like going to Las Vegas: don’t gamble with more than you can lose . Spread your risk and listen to both opportunities to score big goals and pitfalls to avoid.

Perhaps you have impeccable taste in clothing that’s almost impossible to pin down. Or maybe you are the person who already has everything. Regardless, even the best gift givers can get it wrong, and sometimes a gift certificate just falls short of the mark.

So what do you do with gift cards you don’t want? Or what if you spend part of your gift card but don’t know what to do with the rest?

You don’t have to let them go to waste. When you open this less than perfect gift, grin and bear it. Then explore these options.

Exchange it online for a desired one

Timm Walsh, CEO Emeritus of the Retail Gift Card Association, says most of the time gift givers don’t let you down. But when they do, consumers have some options if they have a card they don’t want.

“Now we’re seeing these exchange sites that you can actually trade in for another card that you might value or have more attraction for,” says Walsh.

Gift card exchange sites are just that – sites where consumers can buy and sell gift cards. You can list your unwanted or partially used gift card for sale, or buy a discounted card from someone else. At CardCash, gift cards can be bought at a discount or sold with up to 92% cashback.

Selling, trading, or buying a card is convenient, but you should always do some research on a website before doing business. Some private seller ads on sites like Craigslist promise fully loaded cards and instead return blank or mostly used cards.

According to Walsh, it’s important to look for a post-purchase guarantee to make sure the cards are legitimate. Online shopper Michael LaGarde Jr. from Louisiana knows this firsthand. He says he frequently uses gift card exchange sites, and when he received a card that didn’t work, luckily the exchange site had a guarantee. It refunded his purchase within 48 hours.

Keep the change

Gift cards can often leave us stuck between a rock and a hard spot. Use up the entire card and you may end up paying more than you bargained for. An impressive 59% of consumers surveyed say they typically spend more than the value of their gift card, according to a 2018 survey by branded payments provider Blackhawk Network.

But spend just under the card’s amount and you feel like your remaining $1.22 has been wasted.

In some states, if you leave dollars and cents on the card, you can redeem it for cash. For example, in California, according to the California Department of Consumer Affairs, “Effective January 1, 2008, any gift certificate with a cash value of less than $10 is redeemable for cash, including currency or check, for its cash value.” Check to see if your state has a similar law Has. If that’s the case, you should be able to ask a retailer about the remaining cash balance if it’s below the threshold.

give it away

Don’t want to use the gift card and don’t need the cash? Find someone else who will do it for you. You can give the card to someone else or donate it to a good cause.

CharityChoice, operated by a nonprofit, allows you to donate unwanted store and restaurant gift cards to over 1,000 charities of your choice. You can also try contacting charities directly to see if they accept gift card donations.

A few tips for giving gift cards

Before long, you’re probably going from being a gift recipient to a gift giver. According to the National Retail Federation, gift cards are one of the most sought-after Christmas gifts each year.

Avoid putting your friends and family in a precarious gift card position by choosing your gifts carefully. Aside from picking a store you know they like, here are some other tried and true Federal Trade Commission gift card tips:

Consider the merchant’s financial situation. When a company files for bankruptcy, the gift recipient can remain in limbo.

Include the receipt with the gift card so the recipient can confirm the purchase.

Read the fine print. Check expiration dates and fees.

Just don’t forget

If you finally land on a gift card that you want to keep in your possession, use it wisely. Many consumers forget they got the card in the first place.

“Give it urgency,” says Walsh. “Of course, if you got it as a gift, it’s some free money for you as the recipient. Go and treat yourself. Don’t sit on it. Don’t put it in a drawer.”