What is prepaid Gift Card?

What is prepaid Gift Card?

Gift cards are something which is used as a substitute for gifts and cash that are gifted during the parties and other functions. There are different types of gift cards available on  online and the prepaid gift card is a card which is pre-loaded with certain amount of money by the person who is willing to gift it and it works similar to a debit card. These cards are used for making online purchases and shopping at different stores which accept the cards. It is not necessary for the person one who receiving the card to be a customer of that particular bank which has issued the gift card.

The gift cards can be used by anyone to make online purchases and other purchases from the physical stores but the person cannot withdraw the money from the card. There are various banks issuing the gift cards to their customers without charging any additional fee for the card. Gifting plastic money for the pleasure of shopping is a modern way which allows the recipient to purchase gifts of their own choice.

Functions and types of gift cards

The gift card is a plastic card which resembles the functions of the debit cards and has a barcode or a magnetic strip which is scanned by an electronic credit card machine. There is no standard limit for money that can loaded on a card, it is the personal wish of the person to fix the amount to be loaded on the card. Gift cards are classified into open loop and close loop cards. The open loop cards are issued by the banks and other credit card companies whereas the closed loop card is issued by the specific stores or restaurants.

What is prepaid Gift Card?

The charity gif cards allow the person to make charitable donations for many places like old age homes and orphanage. It helps many people for donating the money to the orphans even though they stay far away or out of reach from the orphanages and old age homes. The Mobile and virtual gift cards are delivered to mobile phones via mails and SMS. The benefit of using the virtual card is that the there is no tension or worry of losing the card and they can buy gifts from any location. These cards are flexible and help to purchase the gift of their own choice. The prepaid gift cards can be received from the banks through fund transfer and net banking or sometimes even phone banking.

Advantages of using Gift cards

There are several advantages of using gifts cards depending upon the usage of the cards, the gift cards are majorly used for the gifting purpose in parties and functions. Some cards are used for providing charitable donations to the orphanages and old age homes. There are various online websites providing different types of gift cards. Vanilla cards are a best online store supplying all categories of cards and it also helps to check the balance and validity of the cards. Gift cards are commonly used by all groups of people in this modern era as a substitute for gifts given in various parties and functions.