Get cash for gift card businesses are popping up all over the place with increasing frequency. This is partly because these products are quickly becoming the most popular choice when someone needs to provided a present, an award or an incentive. Unfortunately, so many people neglect to redeem them and they simply disappear.
Millions of dollars in unredeemed gift cards go unclaimed each year. Retailers are not complaining much since they have already collected the funds for the non-existent sales. It is however, a shame for the consumers to allow such waste to happen.
Many times, when asked why they did not redeem the cards, consumers respond that they simply forgot they had it. Sometimes the reason is that they do not choose to shop at the retailer to which the item is linked to or that they find the method inconvenient. And still others site that they never used their gift because it was to a place that was not available close to their home.
Fortunately, some creative entrepreneurs have devised ways that allow the people to make money on their unwanted cards or to trade for ones they do want. The way the businesses work may vary slightly depending on the market in which they are operating. Many of the exclusive sites offer guarantees and transaction safety to their customers.
One way to make these transactions is to go through websites that are set up exclusively for this purpose. The majority of this type of company will purchase the item directly from the consumer. In turn, the same site will have a section where those wishing to purchase gift cards may see what is available and buy them.
Once the card has been verified for authenticity and balance, the seller is paid usually within 24 hours. At this point the company is solely responsible for finding a buyer. The premise is very like that on a standard resale store.
Some websites operate a bit differently. Here, after the card has been authenticated, cardholders are able to list their items on the site hosted forums in exchange for a small commission upon reaching a sale. The money is paid and the product is shipped directly from the seller to the buyer.
It works very similar to other online sites that allow peer transactions for an intermediary fee. They merely provide the opportunity for the two to get together and make a deal, and handle the transferring of funds. The rest is all the responsibility of the seller.
In some states, there are actually shops that specialize in this product. In a fashion liken to that of a pawn shop, they negotiate prices for the sale, purchase or trading of the unwanted cards. It is worth noting that these transactions are not recognized as valid in all states.
Though each get cash for gift card type of business will have their own special set up, all of them will require validation of the items. Some have special software that can read the information off the magnetic strip or from inputted numbers. Others will require the seller to provide proof of balance. Whichever way, those plastic pieces that used to be a waste of money are now able to be turned into profit.
Millions of dollars in unredeemed gift cards go unclaimed each year. Retailers are not complaining much since they have already collected the funds for the non-existent sales. It is however, a shame for the consumers to allow such waste to happen.
Many times, when asked why they did not redeem the cards, consumers respond that they simply forgot they had it. Sometimes the reason is that they do not choose to shop at the retailer to which the item is linked to or that they find the method inconvenient. And still others site that they never used their gift because it was to a place that was not available close to their home.
Fortunately, some creative entrepreneurs have devised ways that allow the people to make money on their unwanted cards or to trade for ones they do want. The way the businesses work may vary slightly depending on the market in which they are operating. Many of the exclusive sites offer guarantees and transaction safety to their customers.
One way to make these transactions is to go through websites that are set up exclusively for this purpose. The majority of this type of company will purchase the item directly from the consumer. In turn, the same site will have a section where those wishing to purchase gift cards may see what is available and buy them.
Once the card has been verified for authenticity and balance, the seller is paid usually within 24 hours. At this point the company is solely responsible for finding a buyer. The premise is very like that on a standard resale store.
Some websites operate a bit differently. Here, after the card has been authenticated, cardholders are able to list their items on the site hosted forums in exchange for a small commission upon reaching a sale. The money is paid and the product is shipped directly from the seller to the buyer.
It works very similar to other online sites that allow peer transactions for an intermediary fee. They merely provide the opportunity for the two to get together and make a deal, and handle the transferring of funds. The rest is all the responsibility of the seller.
In some states, there are actually shops that specialize in this product. In a fashion liken to that of a pawn shop, they negotiate prices for the sale, purchase or trading of the unwanted cards. It is worth noting that these transactions are not recognized as valid in all states.
Though each get cash for gift card type of business will have their own special set up, all of them will require validation of the items. Some have special software that can read the information off the magnetic strip or from inputted numbers. Others will require the seller to provide proof of balance. Whichever way, those plastic pieces that used to be a waste of money are now able to be turned into profit.
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