This past weekend the Financial Post published an article on what to do with your unwanted gift cards. The article cites findings from Berkeley's 2014 Incentive Trends Survey, and covers consumer applications of gift and prepaid Visa cards.
Here are three takeaways from the article:
1. There's a market for gift cards on eBay, Kijiji and discount forums like RedFlagDeals.com or CardSwap.ca. Individuals can purchase cards, or sell, for discounts - ensuring those unwanted gifts don't go unused.
2. Donate a gift card to charity and receive a tax receipt. The Canada Revenue Agency allows gift card donations to receive tax receipts as long as it's clear what the value of the card is.
3. Send a digital gift card and don't get charged for the cost until it's used. That's the concept of BC startup Kiind. The added bonus is that you see who's spending your gift and who isn't. Take note for next holiday season!
