If you need some quick cash, there are several things you can do. If you have something of value to sell, such as an old laptop or a smartphone on the verge of death, that’s one option—but finding someone who wants it and then arranging a sale might take days. Another option is looking into how much your items would be worth if sold on an auction website like eBay — but again, this sometimes takes time and might not yield results.
A faster way to get money in your hand would be to use a gift card exchange service like Gift Card Granny , Gift Card Bin and Raise . These websites buy unused gift cards from people (like you), which they then resell for less than the original amount the buyer paid. This means if you have a $25 Gap card in your wallet, you could sell it for $20 to one of these services.
In order to use this service, just go to the website and type in the name of the store that issued the card or its abbreviation (if it’s listed). You’ll then see how much money you’d get for it. If you accept the offer, they’ll ask for payment information so they can send a check when they receive your gift card. After a few days—or sometimes less than 24 hours—you’ll have cash in hand.
You can also use these sites to purchase discounted gift cards from people selling unwanted cards from stores you actually shop at. For instance, if you have a $100 gift card for Target in your wallet but you only need to spend $50 this week, consider purchasing an existing $50 or $60 gift card someone else is selling. Not only will it save you money off your next purchase (and the initial cost of the gift card), but it won’t go into wasted space in your wallet.
These services typically don’t charge any fees beyond the discounted price ( minus shipping if mailed) unless something goes wrong with your order. For example, Raise’s terms state it won’t be held liable if “there are insufficient funds available on the Swapped Card(s) to complete redemption.” If that does occur, you’ll get half of whatever money you put into the transaction back.
But for most transactions, these sites are a great way to both fund your shopping trips and save some cash at the same time.
Gift Card Granny
Gift Card Granny is a website that lets people sell their unwanted gift cards for cash. It’s also possible to buy discounted gift cards on the site, although this option is less popular with the general public. The site reportedly has thousands of users who regularly use it. Furthermore, by acting as an intermediary between buyers and sellers, Gift Card Granny takes care of all the hassle involved in such transactions, like shipping or replacement orders after orders go bad (see below).
How does it work?
For Sellers: To get started you need to register using your email address and providing some personal information (including your name and billing address), but nothing too invasive (unlike other sites that ask for a SSN). Then you simply submit your gift card information, describe it and select a price. You can pick one of the listed prices or enter your own amount. Note: offers from anonymous users are not accepted. Once the transaction is complete, you print out a free shipping label from the site and send your card off to Gift Card Granny. They verify the balance on your card and deposit funds directly into your account within 3-4 business days. For Buyers: To find discounted cards just search for them by name or retailer (Apple Store, Lowe’s etc) The list of results will contain information on how much they cost elsewhere as well as their current asking price on Gift Card Granny . Clicking any of the results will take you to a page with more information on that card. Here you can check its balance, read user comments and purchase it using PayPal or credit card. The site also notes the shipping cost. Note: cards are shipped via USPS First Class mail, but Gift Card Granny is not responsible for lost items . This means that if your order goes missing in transit, they will try to track it down, but if they can’t find it, you’re unlikely to see your money again.
How much does it cost?
This depends entirely on whether you’re selling or buying. Sellers pay only $1 plus 5% of their final sale price (somewhat less than Raise). Buyers don’t have to pay any fees, so this is a good place to get deals on discounted gift cards.
Is it safe?
Gift Card Granny has been around since 2010 and buys from over 350 retailers worldwide. This makes it one of the bigger sites in its niche, but along with size comes some level of risk. For instance, scammers have used the platform to sell forged cards , while others tried to list non-functioning debit cards . That said, most transactions seem legitimate and Gift Card Granny is very responsive when scams are reported (they usually remove listings that follow their terms). Overall they seem like a pretty safe option if you’re willing to go through the usual security precautions (i.e don’t share your PIN or the security code on the back of your card).
Gift Card Bin
Giftcardbin.com, whose domain was registered on October 24th, 2013, describes itself as “the biggest cash for gift cards website”. At the time of writing this artiGiftcardbin.com is a place where you can buy and sell discounted gift cards for cash, such as Walmart, Target, Groupon, Starbucks and more. Simply search through the large selection of discount codes to find the one that matches your budget.
Store owners post their unwanted gift cards there because they cannot resell them at full price in their stores or on other websites. Before the discounted cards arrive at Giftcardbin.com buyers must first send money to a secure escrow account from their personal bank accounts which protects both parties from any mishaps occurring during transactions. This article will explain how does Giftcardbin.com works .
There are no complicated steps involved in this method because shoppers simply go to Giftcardbin.com, find the best offer for a gift card they want then click “Buy Now” option to purchase it. A secured payment system is then established that requires buyers to first send payment by bank transfer to an account owned by Giftcardbin.com before the customer receives their item.
When buying discounted gift cards at Giftcardbin.com shoppers can expect to receive them within three business days through email or fax depending on what the vendor specifies in their listing details. On the other hand, sellers are paid once per day via direct deposit into their personal bank accounts between 1-3 business days after receiving the funds from buyers even though some transactions may take longer if there are problems with funding or fraud detected on either party’s side of the deal. After this money is transferred to the seller they can use it to purchase even more discounted gift cards from other merchants or withdraw cash from an ATM as per usual.
In conclusion, the best way to summarize how does Giftcardbin.com works and its benefits is by saying that it provides a platform for buyers and sellers of discount gift cards because both parties can save money on purchases online whereas the seller may usually lose value when selling their unwanted gifts in-store.
Raise.com is a website where you can sell your unwanted gift cards.
Sellers are able to set their own discount rate for the cards and want to earn as much as possible from selling their card. Trades typically take less than a day and sellers receive payment through PayPal.
The process starts when buyers look at purchase cards that meet their search criteria and then send those offers to sellers, who can accept or reject them on Raise’s marketplace platform.
If two people agree on price – the trade is made! If there is no agreement about prices, they will keep bidding until someone gives up or buyer finds better offer on marketplace (buyer has more patience than seller).
* Keep in mind those numbers aren’t representative of all cards, just how many trades were made in 2020.
Some buyers are looking for deals before holidays, some are buying cards to give as gifts, others are saving up for future purchases. Sellers set the discount rate they want to get on their card when they list it – based on demand and value of the gift card. For example, if you have a Capital One gift card with a $100 dollar value that you’d like to sell for at least $94 dollars, then you would set your discount rate at 6%. The buyer will offer you x amount of money ($90) plus 10% extra ($9) because they know that’s what it takes to earn your business. If there is another buyer out there willing to pay $100, then you can sell your card on raise.com for that buyer (because the other buyer is willing to pay more than your desired discount rate).
Someone might be willing to buy your gift cards even though they don’t know what they’re going to use them for yet; some people are happy with certain brands and will buy any gift cards they find in order to accumulate enough of their favorite brand. Some shops like Starbucks use this strategy actively by placing limit of how many gift cards can be purchased at once . If you see 2+ transactions it’s definitely not physical store but some website where e-cards are sold.
“Raise takes a commission off each sale, which the company says averages 15 percent. The fee is 5 percent plus $1 for each card sold below its value and 20 percent plus $1 on cards sold at face value.”
It’s worth mentioning that you also pay 3% processing fee when buying online gift cards.
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You can also check the 10 Popular Gift Cards In USA and Canada