Where Can I Sell Unused Gift Cards?

Unused gift cards are common, representing value tied to retailers people may not use. This article guides you through selling these cards, offering insights on maximizing their return. It covers preparatory steps, selling platforms, and procedures for a successful sale.

Understanding Your Gift Card’s Value

Before selling, accurately determine the card’s balance. Most retailers offer several ways to check balances: online, via a toll-free number on the card, or in-store. Verifying the balance ensures transparency and helps set a selling price.

Reviewing the gift card’s terms and conditions is also important. Federal law mandates gift cards cannot expire in under five years from issuance. Dormancy or inactivity fees are restricted; they cannot be charged unless the card is inactive for at least one year and must be disclosed. Understanding these conditions prevents unexpected value reductions.

Several factors influence a gift card’s resale price. Popular brands with broad appeal, like major online retailers, typically command a higher percentage of face value due to strong demand. Niche retailers or those with limited geographic reach may sell for a lower percentage. The card’s condition (physical or digital) and fluctuating market demand also determine its resale value.

Online Gift Card Marketplaces

Online gift card marketplaces connect sellers and buyers. Platforms operate under two models. Some directly purchase cards, offering immediate quotes and quicker transactions. Others function as peer-to-peer exchanges, where sellers list cards and wait for buyers, with the platform facilitating secure transactions.

The process typically involves entering the card’s brand and balance to receive an offer, usually 70-90% of face value, varying by demand and platform policy. Once an offer is accepted, the seller provides card details, and the platform manages transfer and payment. These marketplaces offer convenience and security compared to direct sales, often including verification and buyer protection.

While efficient for converting cards to cash, sellers should not expect full face value. The percentage offered reflects operational costs, buyer profit margins, and expected discounts. These marketplaces are a popular choice for monetizing unused cards.

Alternative Selling Options

Other avenues exist for selling unused gift cards beyond online marketplaces. General online marketplaces, like eBay or Facebook Marketplace, allow direct sales to consumers. These platforms require sellers to manage listings, communicate with buyers, and handle payment and card transfer. While potentially offering higher returns than direct-purchase sites, they require more seller effort and carry increased fraud risks.

Physical gift card kiosks or certain retail stores offer immediate cash conversion. Kiosks, found in high-traffic locations, scan cards and provide instant cash offers, usually 60-85% of value. If accepted, the kiosk prints a voucher redeemable for cash at a customer service desk. While offering instant liquidity, kiosk percentages are generally lower than online options. Some check-cashing services may also purchase gift cards, providing immediate funds.

Selling directly to friends, family, or coworkers is another option. This method avoids processing fees and can recover a higher percentage of the card’s value, often closer to face value, by eliminating intermediaries. However, sales are limited to one’s personal network, suitable for smaller, less urgent transactions. This approach prioritizes trust and simplicity.

Executing the Sale

Once a selling platform is chosen, the next phase involves completing the transaction. For online platforms, this begins with account creation, which may require identity verification for security. After setup, sellers create a listing, accurately inputting the card’s brand, balance, and any relevant terms.

Providing necessary gift card details is important in the sale process. This includes supplying the full gift card number and any associated PIN or security code, typically on physical cards or provided with digital cards. These identifiers allow the buyer or platform to verify and redeem the card. Accuracy in providing these details is essential for a successful sale.

Payment for the sold gift card can be received through various methods, depending on the platform. Common payout options include direct bank transfers, digital payment services like PayPal, or physical checks. Payment processing times vary, with some platforms offering instant payouts, while others may take several business days. Finally, the card’s value is transferred by providing digital codes to the buyer or mailing the physical card to the platform, completing the sale.