Trading gift cards online is a fun and exciting experience, but it’s also one about which people have many questions. From how it works to why it’s a good idea, it’s easy to get confused about the ins and outs of gift card trade online. Today, we’re going to break down some of the top gift card FAQs to help you understand the industry better.
Gift Card Exchange Online FAQ
Whether you’re an old gift card pro or a beginner getting ready to swap your first card, this FAQ will help you navigate the process more efficiently:
1. How long does it take to trade gift cards online?
Minutes. Depending on which merchant you use, the trade-in process generally involves entering some simple information about your gift card on the website’s home page, getting a trade-in offer, and either accepting or denying it. The whole process takes less time than picking up a coffee at your local café.
2. Will I get the entire face value of my gift card?
No, but you’ll get close. The nature of reselling gift cards is that the merchant can’t always provide the complete face value of the card. Because of this, you can expect to get a large portion of the card’s value, but not the whole thing. Keep in mind you’ll probably get to keep more of the card’s value if you trade it for another card rather than selling it for cash.
3. How will I get paid?
Again, this depends slightly on which merchant you work with. While some dealers offer the option of a mailed check, the most common payment method is PayPal. Just input your PayPal email address (create an account if you don’t have one) and the money will be in your account in a matter of days.
4. Is gift card exchange online a legal process?
Absolutely. Selling gift cards is just like selling a physical gift – like a hat or a shirt – someone purchased for you. When you sell a gift card online, nobody loses out on the value of the card. This allows the gift card to move along to someone who will use it, and helps you get cash or another card in return.
5. Can I sell any gift card online
Gift card resellers work with a massive selection of merchants, so it’s highly likely you’ll be able to sell virtually any store-based gift card online. There are some exceptions, though, and it always pays to double check with your merchant of choice to ensure that your gift card retailer is accepted.
6. What about in-store gift card exchange?
Today, stores like Target and Walmart are offering in-store kiosks designed to facilitate gift card exchange. The idea of these machines is that you can swap out unwanted gift cards while you shop or finish other errands. Simple, fast, and efficient, these kiosks are the ideal choice for some people. The only downside is that they may not offer the selection you’re looking for and the face value you earn for your card may be lower than normal.
7. Is my financial information safe while trading gift cards?
Assuming you work with a reputable gift card reseller, the answer is always yes. Here’s why: Since a gift card isn’t linked to your banking information like a debit or credit card is, there’s no inherent risk in selling the card and allowing someone else to do it. What’s more, reputable gift card resellers take precautions, like facilitating payments through PayPal, to ensure your bank account numbers are never exposed and all your personal and financial information stays safe and secure throughout the entire sales process.
8. I have multiple gift cards, what do I do?
While you can’t currently batch-sell your gift cards to online merchants, you can enter them one-by-one and get money in return. While this process might seem complicated, it’s quite simple and you’ll be in and out and on your way in a matter of moments.
Simply collect all the relevant information from each card, including the card’s number and its PIN, if it has one. You’ll also need each card’s face value. Once you have this information on-hand, enter it into your gift card merchant’s resale page and get your offers. It’s that easy!
Gift Card Exchange Online: Your Path to Fewer Unwanted Gift Cards
Unwanted gift cards can be a drag, but exchanging them online is a great way to empty your drawers and make some money on the side. By choosing a reputable reseller like EJ Gift Cards and following the steps listed on their website, you can resell your gift cards in a matter of minutes.