You’ve got gift cards that you don’t want. Maybe they were presents, or maybe you just have too many of them lying around the house. Either way, you need to sell them on social media – but how can you do that? You’re probably not interested in giving them away, and you know that selling them at face value isn’t an option either.
Can you sell gift cards on Facebook?
Is that even possible?
What is considered a gift card in the USA?
The term gift card has no legal definition. Generally, gift cards are accepted and viewed as payment for goods or services without tying them to an existing account. You can buy a gift card from your favorite retailer, but you cannot use it until someone buys something using that card. You can only use that card if there is still money left in your gift card after buying items.
On occasions where you pay less than what’s available on your gift card, then your credit balance will remain intact. There is usually a fee attached to these types of accounts, but some gift cards do not have any additional fees associated with them. Only specific kinds of businesses can sell these kinds of cards, otherwise, they may be deemed illegal.
Where can you not use gift cards?
Before we get into where you can use gift cards, it’s important to note that they have many restrictions and cannot be used in every situation. For example, you can’t purchase a gift card with another gift card, or exchange one for cash. You also shouldn’t buy gift cards from anyone except an authorized reseller. There are many things that retailers simply won’t let you do with your gift card.
Can you use them legally?
The short answer is yes. You can legally sell gift cards for cash or trade them for other gift cards at large retailers like Walmart, Target, and Amazon. However, it’s against federal law for small businesses (any with $10 million or less in gross annual sales) to accept anything of value as payment for a good or service.
This means that even if you have a large chain of retail stores you will not be able to accept merchandise bought with a gift card. Keep in mind that some states restrict certain methods of selling gift cards; many allow you to only sell your balance through private sale sites such as Craigslist, while others disallow selling any amount.
If you received a gift card that is up to 100 dollars and you live in Nigeria, you can sell it on Heylumi. You just have to know the current 100 dollars itunes gift card rate in naira before you proceed.
Should you buy a gift card that says no refunds?
Be cautious when buying gift cards from third-party sources. Many of these sites sell gift cards that state they are non-refundable, meaning if you can’t use it or lose it – you don’t get your money back. However, some states may have laws preventing sellers from advertising gift cards as non-refundable. For example, New York forbids any merchant from selling or advertising a non-refundable gift card. In California, any gift card with an expiration date of fewer than five years must be labeled non-refundable after (expiration date).
Furthermore, California law says that no matter what label is on a gift card, merchants must accept returns for at least one year after purchase. If you can be refunded in case of loss or theft and case of defects or problems with merchandise purchased with a gift card within one year from purchase, then it is not non-refundable under California law.
Yes, it is legal to sell a gift card or store credit as long as you are not impersonating an actual store. However, it is illegal to pass yourself off as someone official. If somebody wants to buy your e-gift cards from you, then that’s your business. Just don’t try to trick somebody into thinking they’re buying something better quality than it is.