Holiday shopping can pose a lot of challenges, depending on your budget. If you’re unsure what to buy for the people on your list, consider a prepaid gift card for close family and friends.
The gift-giving possibilities are endless. You can go for traditional gift cards for stores such as gas stations or department stores. You also might consider restaurant gift cards.
There are many options when getting the best-prepaid gift card for you to choose from. In this article, explore the three things to know about a prepaid gift card.
- Know the Types of Prepaid Cards
A prepaid gift card is an ideal present to give a friend or family member. It provides the cardholder with the convenience of paying with plastic. This is while allowing the giver to retain complete control over how much money is spent.
Types of prepaid cards include those that are specific to a store or merchandise, general spending prepaid cards, and travel/accommodation prepaid cards. Store and merchandise cards are perfect for helping someone make a special purchase.
This is while general spending cards provide more flexibility and work just like any other debit or credit card. Finally, travel/accommodation prepaid cards are useful for people who travel frequently, as they help with budgeting for the trip.
- Know When the Expiration Date Is
Prepaid gift cards are a great way to give a gift without needing to guess size, color, or style. Before you make your purchase, there are a few things you should know when it comes to the expiration date of your card.
The expiration date listed on the card will indicate the date after which the card can no longer be used. Usually, this is anywhere from three months to three years after purchase, depending on the card.
You will also want to be mindful of the amount of time you have to use the funds, which is generally outlined on the back of the card. Lastly, be aware of any fees associated with the card, such as monthly maintenance fees or expiration fees.
- Know How Much is the Amount Inside the Prepaid Gift Card
A prepaid gift card is a great way to give a gift of money without needing to carry cash. Most prepaid gift cards are preloaded with a certain monetary value when you purchase them and may come with fees such as activation fees. These fees can be as low as $1 and as high as $10.95, depending on the provider.
You might also consider if you can exchange cash for gift cards. Once any applicable fees have been taken out, the value of the prepaid gift card will be the final amount remaining. This amount can then be used to purchase goods and services from any location that accepts the prepaid gift card.
Get the Best Prepaid Gift Card for Your Love Ones
All in all, your choice of the best-prepaid gift card for a person depends on their need. There are a variety of payment solutions available, so make sure to compare the features and fees before making a decision.
Getting prepaid cards for gifts can be confusing, which is why you need to review the best-prepaid gift card you get thoroughly. Visit your local banking institution for more in-depth information to select the best gift card for you.
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