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It is quite common to receive gift cards for birthdays or other occasions. While a good portion of the time they are for places you will go to, sometimes you may receive one that you will probably never use. If that is the case, what do you do with it?
Did you know that if you have a gift card that you want to get rid of, there are websites dictated to selling them? No matter the reason for getting rid of them, as long as they are valid, you can sell them to someone who will use them.
Selling gift cards in Canada
While you can sell gift cards on common selling sites like eBay, Facebook Marketplace, Craigslist, and Kijiji; there are also dedicated websites that broker gift card sales and gift card exchanges or buy the gift cards themselves. These companies can be much easier to use than general online selling sites. You don’t have to wait for a buyer to reach out to most of them, and when you do you know that the buyer is there to buy gift cards. While there are many companies that are dedicated to this, some are better than others.
What are the best websites to sell gift cards in Canada?
There are quite a few different platforms in Canada to sell unused gift cards. Some companies will even take gift cards that are used as long as the card value is still above a certain amount. Here are a few of the best ones available.
CardSwap
This site is Canada’s most popular platform for selling and purchasing gift cards. While it may not provide you with instant cash, you normally do not have to wait very long to receive your funds. All you need to do is sign up for an account and enter the information required. Then you just send off the cards and take the payment for them. The only thing with CardSwap is that they will not pay face value for your gift card. They only give between 60 and 90 percent of the card’s value. This gives the company the option to sell discounted gift cards that buyers are looking for.
Before you send your gift card off to CardSwap, you need to enter the gift card details into an online form and then they will make you an offer. Once you accept the offer, you send the card. The company will then verify that the card is legitimate before they send you the money.
The few downsides with this platform are that you have to manage the shipping and all gift cards must have at least a minimum balance of $25. That being said, the card can be used as long as it meets the minimum balance.
Overall, they are a convenient option to exchange gift cards online for money. Not only do you not have to wait for a buyer to contact you, they also accept gift cards from most Canadian brands as well as a bunch of international ones and all sales come with a payment guarantee.
GiftCash
GiftCash is also another great choice for selling gift cards online. Not only do they accept a ton of different types of gift cards but, unlike most other sites, they accept both physical and digital cards. They do require you to prove your identity before you can sell unwanted gift cards., You can receive your cash online in as little as 2 hours for a digital card. A physical card will have a delayed payment time. Unlike CardSwap, GiftCash will pay up to 93% of the gift card’s value.
Gift Card Granny
Gift Card Granny is another great site used in Canada to sell gift cards. Unlike other platforms, Gift Card Granny allows you to sell directly to others on their marketplace, as well as directly to the company. They also allow you to trade your gift cards if you wish.
Along with the multiple ways to sell your gift cards, Gift Card Granny also pays 92% of the card’s value if you sell to them directly. They also deposit the money within just a few days.
Are these websites legit?
While these sites we have mentioned above, there are a lot more. Before you enter any of your personal information, it is important to do some research on the company as well as lookup reviews. While most of them are safe, it is important to always watch for scams.
Trading gift cards in Canada
As mentioned above, Gift Card Granny is the only dedicated platform in Canada that lets you trade gift cards right on their site. The only other options for trading would be sites like craigslist or Facebook Marketplace. While there are more difficult, they still allow for it.
How do websites pay you for your gift cards?
When it comes to these sites, all you have to do is enter your direct deposit information to receive your payment. While it can take a while for you to receive payment for any hard copy cards, digital gift cards can receive cash almost instantly. Usually within just a few hours.
Can you get cash at a gift card kiosk?
In Canada, you can no longer exchange gift cards at a gift card kiosk. Due to the amount of money that it costs for them to stay open, you are now only able to exchange coins for some gift cards such as an amazon cash voucher. At this point, the only options are to sell through online marketplaces or through specific gift card websites.
Is Coinstar legit?
Yes, Coinstar is legit, unfortunately, they no longer have the capability of exchanging unwanted gift cards for cash. They may decide to start this service online, but, as of yet, they haven’t.
How easy is it to sell gift cards on local selling websites?
If you don’t want to go the route of selling online through gift card websites, you still have the options on local selling sites, but how easy is it to sell gift cards through these sites?
Craigslist
Using Craigslist is great because it allows you to reach a wide audience, but all they do is supply the platform to be able to sell whichever you choose. You can sell physical or digital cards, but if you sell physical cards, you will probably have to meet the buyer in person.
Since craigslist is such a general platform, it can take a while to find a buyer. The upside though is that it is a free platform to use, and you can choose what you want to sell the gift card for. It is important when using craigslist to keep an eye out for scams.
eBay
eBay is another great way to sell your gift card while controlling the price point. Because eBay is more involved in the selling process, it can be a bit more complex. For any sale, you are required to take quality photographs of the item(s) as well as write short and concise descriptions. They also allow buyers the option to request a refund if they aren’t happy with the product.
On the plus side, they do allow you to accept or decline any offers and, even though the money gets transferred directly to you, it can take anywhere from a week to two weeks to receive a payment. It is free to sign up for eBay and they only charge a 5% final value fee when you sell gift cards online through them.
Kijiji
Just like Craigslist, Kijiji allows you to post things for sale online. Once you post your gift card for sale, you then wait for a buyer to reach out and make an offer. Often on sites like this, buyers will try to make offers lower than the selling price. It is also possible that you won’t find a sitter.
There is the option to pay for an ad to promote what you have for sale, but how fast you want to get rid of the product decides if this is worth it or not. Even with the extra promotion, you often find a lot of bad buyers and it can take a lot of time to find the right buyer.
Facebook Marketplace.
Lastly, is Facebook Marketplace. This is one of the most popular selling platforms. Facebook Marketplace itself is very simple to use and allows you to post in just a few minutes. They also allow you to dictate the price of the product you are selling.
In order to sell on this platform, you do need to have a Facebook account. This means people will be able to see any details about you that you have made public. While the algorithm is known to support popular ads, you are able to have your friends like and share which exposes you to more people.
Can you sell a gift card for your PayPal balance?
While in the States you can trade your gift cards with Card Cash to increase your PayPal balance, you can’t in Canada. While CardCash is a legitimate app, it is only available in the US currently.
While popular Canadian websites accept payment from PayPal when you purchase a gift card online, their method of paying is normally via direct deposit into your bank account or via cheque in the mail.
Other ways to get rid of old gift cards
If selling your old gift cards isn’t for you, there are other options to get rid of them.
Regift
Just because you don’t use them doesn’t mean someone else won’t so you could always re-gift them. Not only does this give the person you are gifting some money to spend, but it also saves you some money on purchasing a gift. Just be sure you aren’t gifting this card to the person who gave it to you or make it known that you are regifting the card.
Donate
The next way you could utilize your gift card is to donate it. Some organizations will take the gift cards and use them how they need them. Others, you are able to upload the balance right to their website. Whatever you decide, this gives you a way to put the gift card to good use without having to re-gift or sell it.
Return to the retailer
While this isn’t always an option, some stores will allow you to return the gift card for up to 90% of its value. However, to do this, the company may require a receipt. If this is the case, then you can ask the person who gave you the card for the receipt but usually, it is included in the gird card package. They usually recommend including the receipt just in case there are any issues with the card when you go to use it.
Sell or trade with friends and family
If you aren’t wanting to trade or sell online or to a stranger, it’s a good idea to check with your friends and family if they want to purchase it from you. They may even have a gift card that you are interested in that they are willing to trade you. This way you can still make some money or get what you want, without dealing with someone you don’t know.
Is selling gift cards worth it?
Honestly, selling gift cards can be worth it if you know you aren’t going to be using them anytime soon or at all. If you can get a decent offer and acquire some cash or a gift card you will actually use, it makes sense. Whether you choose to use these popular apps and websites or just try online marketplaces yourself, you have some options.
One thing to remember when using any of these sites is to try to sell in bulk instead of individually. Since most companies do not offer a prepaid shipping label, this will give you discounted shipping rates, allowing you to make more money off of your gift cards and invest in your own personal finance goals.
In Conclusion
Overall, there are plenty of ways to get rid of old or unwanted gift cards. Whether you decide to use any of the online options above or want to re-gift, donate, or even trade with your friends, they don’t have to go to waste. Ultimately, just because you aren’t interested in using those gift cards doesn’t mean that someone else won’t be.
