Gift cards are amazing when it comes to giving gifts. The number of options they offer recipients to get whatever they want is awesome. This is especially useful when you don’t have an idea of the ideal gift for the intended.
Businesses also leverage gift cards to provide loyalty programs, compensate their staff, and for many other uses.
In this article, we will look into the frequently asked questions about gift cards. Let’s get started.
Gift Cards Frequently Asked Questions
How do gift cards work?
Gift cards are a form of payment method used at stores, restaurants, or other places they are accepted. Many of them are already activated upon purchase while few need to be activated. The activation can be done by placing a call to the merchant or visiting the card website.
There are two popular types of gift cards including open-loop and closed-loop cards. The open-loop cards are issued by financial institutions and they include Visa, MasterCard, Discovery, and American Express.
On the other hand, closed-loop cards are issued by a specific merchant including retail stores, shopping malls, gas stations, businesses, etc. Examples of closed-loop cards include Amazon gift cards, Apple gift cards, Steam gift cards, and many others.
Do gift card funds expire?
No, gift card funds never expire. Although there is always an expiry date on gift cards, it’s to make processing easy for merchants. Certain gift cards expire but not the funds on them. When such a case happens where your card expires with funds still on it, you can contact customer support for a replacement. The replacement card will carry the exact amount on your former expired card. Be aware that gift cards that are not redeemed at all for 12 months will be charged an inactivity fee. This information always comes with the gift card package.
Why was a purchase made with my gift card declined?
There are reasons why your gift card may be declined while making a purchase. This mostly happens when the price of what you are trying to get is more than the gift card funds. The best approach to bypass this is to communicate with the cashier in charge. You will be allowed to split the amount and pay off the remaining balance with cash.
How can I buy a gift card?
To purchase gift cards, go to websites selling your desired card. There are many including Walmart, Best Buy, eBay, Target, etc. Physical cards can be purchased online or at onsite stores. Upon purchase online, it will be mailed to the provided mailing address. Virtual cards (E-codes) are sent to customers through SMS or email upon purchase.
Can I load any amount to a gift card?
Gift cards are available in various denominations. Different gift cards have their minimum and maximum amounts. Generally, the denominations include $5, $10, $20, $25, $50, $75, $100, $150, $200, $250, $500, and $1000.
How can I check my gift card balance?
Checking a gift card balance is quite straightforward. Go to the gift card balance check page. Hit the gift card tab. Then, enter your card number and security code (PIN). Finally, click on the “Check Your Gift Card Balance” button.
Can I redeem my gift cards for cash?
Yes, you can redeem your gift cards for cash in Nigeria. Many Nigerian youths are making money via gift card exchange.
Where can I sell a gift card?
There are several online platforms offering gift card exchange services in Nigeria. It is imperative to be careful and not fall into the wrong hands. The possibility of trading with a scammer can’t be overlooked. That is why it is important to go for the best site to trade your gift cards. There are a good number of gift cards available for exchange in Nigeria.
Helpful Tips for Buying Gift Cards
Without a doubt, gift cards make excellent gifts and are beneficial. They are also great resources to make personal purchases. There are certain things to put into consideration when buying gift cards, especially online. Let’s look at them below:
Buy your gift card from a reputable source.
Ensure to purchase your gift card from a trustworthy platform. Buying from the wrong platform is a threat to your money. You can check out the site reviews you want to buy from Trustpilot. The reviews on Trustpilot are legitimate and can be used to make buying decisions. Check the website domain name to confirm it is correct and ensure it’s “https” supported.
Ensure to read and understand the gift card terms and conditions.
When making a gift card purchase, it is essential to read and understand the terms and conditions that come with the gift card. This information is always available on the website you are trying to buy from. In case you are not clear on the terms, it is advisable to consider other merchants.
Keep the gift card purchase receipt safe
A receipt always come with any online purchase as proof of payment. So, you will get a receipt after buying your gift card. Make sure to keep this safe as it might be useful later. In case of any issue with the card or when it got stolen, the receipt will come in handy.
Find out if there are any charges.
There are gift cards that attract fees including activation fees, usage fees, inactivity fees, etc. Ensure to know the fees attached for purchases and card activation. Look out for maintenance fees as well, few charge this while using the card.
Search for gift card discounts
Certain platforms offer discounts on gift card sales. You can make research on which ones are currently doing this so you can save some money. Be careful in your search not to fall into the hands of online scammers. Ensure the platform is reputable and your gift card is guaranteed.
Look out for the expiration date.
Federal law states that gift cards can not expire until 5 years after purchase. However, gift card issuers have different expiry dates on their cards. Ensure to verify if there is any expiry date before you make the purchase.
Gift cards are not bank cards.
Keep in mind that a gift card isn’t a substitute for an ATM card. The funds on your gift card are non-transferrable to a bank account. No businesses or firms have the right to ask you to pay them with a gift card. Be suspicious of scams in such scenarios.
Know that certain virtual gift cards may only work online.
Some virtual gift cards are redeemable online and in physical stores. But most of them are issued to work online only. Make a decision about what purpose you are buying the gift card for and where you need to use it. This will influence the kind of purchase you want to make.
Ensure to input the correct contact details at checkout.
Review and confirm the contact information you are providing at purchase. If you drop the wrong email address at purchase, the merchant isn’t obligated to pay you back.
How Can Offering Gift Cards Help Make My Retail Business More Customer Friendly?
Offering gift cards is one of the best ways to improve retail experience for your customers. It provides a convenient and versatile option for them to shop for themselves or others. Additionally, it promotes brand loyalty and can attract new customers, making your retail business more customer-friendly.
Conclusion
No doubt that gift cards are great. However, it is important to have a good knowledge of what they are and how they work. This guide has answered all the questions you may have about gift cards.
