There is something extremely gratifying about buying a gift card for someone else. Whether it’s for your coffee-loving bestie or a tech-savvy relative, these gifts can make people happy without any guesswork on your part. 문화상품권매입
Gift cards are sold everywhere from supermarkets and malls to corner gas stations and websites specializing in gift card resales. But, like any product, they have a price.
Value of the Gift Card
Gift cards are supposed to make shopping for presents easier, but it’s important for both the giver and the recipient to understand all the terms and fees attached to each card. If a card has too many restrictions or drawbacks, it may not be a good idea to purchase it.
For example, general-use gift cards, like those from payment networks such as Visa and Mastercard, tend to have a purchase fee upfront, which is the responsibility of the giver. These types of cards may also have other fees after purchasing, such as service or dormancy charges.
Checking the balance of a gift card is easy online, by visiting the website on the back of the card or calling the number listed. The website should have fields for entering the card number or another numeric code to check the status and value of the gift card. If the website doesn’t work, try calling the card number or going to a physical location to verify the information.
Activation Fee
Prepaid cards, such as Visa and MasterCard, typically have an upfront fee called an activation fee. This is a one time payment to add value to the card. Store gift cards, which are good only at a specific retailer, do not have this type of charge.
Most general-use gift cards don’t have other fees beyond the initial purchase, though a few may have replacement card fees or dormancy fees, which are charged monthly after a year of inactivity. Stores bury these costs in merchandise markups, which is why many people prefer to buy a store brand gift card rather than a branded, general-use card like a Visa or Mastercard.
Bank-issued cards, however, tend to have all kinds of fees, including purchase and maintenance fees, plus reload and inactivity fees. These fees can add up quickly, and make a prepaid card not worth giving. The best way to avoid these fees is to compare the available options and understand what you are paying for.
Shipping Fee
Depending on where your customers live and the laws in your state, you might have to charge sales tax on gift card purchases. Also, if you sell open loop gift cards, such as Visa or MasterCard, your customers might be subject to a transaction fee, a small bank charge that’s applied to each purchase they make with the card.
Open loop gift cards are branded by the credit card company, such as Visa or MasterCard, and the seller pays a fee to the card issuer, known as an Independent Sales Organization (ISO), to sell them. They also pay a credit card processor to process the transactions.
To ensure that your customers can get the most use out of their gift cards, keep their terms and conditions in mind. The National Conference of State Legislators offers a handy table of gift card statutes and law, searchable by state. It includes information on expiration dates, fees and escheatment laws.
Other Fees
Gift cards are great and make wonderful gifts, but the fees associated with them can reduce their intrinsic value. Store branded gift cards tend to have merchant purchase and shipping fees, while a few prepaid card issuers charge a fee to own their cards as well. Credit card issuers also get interchange fees from the retailers they work with to sell their own branded cards, and the ISO or Visa or MasterCard often gets its own fees as well. Some cards may have periodic fees that are imposed for holding or using them, such as dormancy, inactivity, or service fees. Disclosures about these fees must be made in writing on the certificate or card, or in the packaging surrounding it.