Gift Cards. Are they a good gift to give? What are the dangers?
Gift Cards (were gift vouchers), are the easiest gifts to give. But you see and hear lots of noise in the media at this time of year, so here are a few tips and tricks and a few myths dispelled:
Do not give gift cards give cash!
Over 5m customers in the UK had parcels or letters lost or stolen in 2020 (source – The Guardian 29.07/2021). Sending gift cards in the post is safer, as normally the company you purchase from should be able to block a gift card that’s missing as it’s usually simply a lost pack. Higher values can go out inactivated which you cannot do with cash!
Cash offers more choice
We know often that gifted cash is not spent on what we hoped it would be spent on (cigarettes, booze and the like), therefore not being recognised as a gift. A gift card is a gift. A treat. You can still gift a supermarket gift card if you wish to assist in hard times, or treat an employee to their Christmas dinner, it just means they do think of you when they spend it. Some gift cards are then spent with small businesses and artists, there are gift cards for everyone.
Gift cards expire and the monies are lost
The majority of gift cards are spent within the first 3-6 months of receiving them (*source the Gift Card & Voucher Association 2021), and the brands prefer that they are spent, as they bring in new customers and often additional revenue. You can help by advising your recipient of the expiry date (usually 1-2 years depending on the brand from date activated), and to keep in a safe place as they are live cash. Most brands have a balance checker on their websites, and some brands even re-activate a gift card for another year when you balance check. If you have an expired gift card that is not too old, always ask the brand for help re-activating them. It is rare that they refuse to assist.
I have been asked to purchase gift cards to pay for an item or service
Stop! No proper company will ever ask for payment in gift cards. EVER! Fraudsters can advise they are trying to mend your computer, or that it has a virus, and only they can unlock it for you, by you purchasing gift cards and giving them the codes over the phone.
Take your computer to a local computer repair company that will advise if you have a virus and what to do. Block the fraudsters from calling your phone, or ask a family member to do this, and report your suspicions or incidents to Action Fraud, either on the Action Fraud website or (only if you are in the UK) by phoning 0300 123 2040.
Gift Cards can be a fantastic easy choice of gift for someone. Enjoy the freedom of gifting and the joy in hearing how welcomed they are with your recipient.
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