Do All Visa Gift Cards Have a Fee?
There’s something extremely gratifying about buying a gift card for somebody else. Whether it be a close friend, beloved family member, or an acquaintance you’ve only met half a dozen times, it’s always nice to realize you brought some happiness into another person’s life. And when you give a gift card, you can rely on the fact that they will be able to choose exactly what they want from the store, leaving no room for error on your part.
Gift cards are truly some of the best gifts out there; as long as you know where your gift recipient likes to shop, this present is certified to delight. But what about when you aren’t too sure which retailers are the right fit? What will you do then?
Lots of folks may begin to panic and experience glum thoughts of doubt as they realize they don’t actually know what kind of gift card the person they are shopping for would like. There’s so many different gift card possibilities with thousands of brands and locations to choose from, making it all the more painstakingly difficult for you. After all, you don’t want to wind up buying someone a gift card for a gas station when they don’t even own a car – what a ridiculously pointless present that would be.
Before you let your worries sweep you away in a rough and frantic river, reign yourself back in and breathe a sigh of relief as you remember that retail gift cards aren’t the only option you have. Rather than lock your gift recipient into making a purchase at a specific retailer or from a certain brand, opt for something way more simple: a Visa gift card!
If you’ve gone your whole life without ever knowing Visa gift cards were a thing, don’t sweat it. There are a lot of benefits and things to love about Visa gift cards, and we’re gonna dedicate some time to learning all there is to know with this helpful article. Keep reading to get all of the updated, accurate information on Visa gift cards and how they work.
What You Need to Know About Buying a Visa Gift Card
Visa is a well-known brand, one that you have probably heard of before reading this article. With a focus on digital payments and the transference of electronic funds, Visa is a world leader in technology and seeks to help individuals, businesses, and economies thrive by way of painless and convenient payment options. Visa offers various branded cards for consumers to utilize including credit cards, debit cards, and prepaid cards. The prepaid cards are what we are most interested in, otherwise known simply as gift cards.
Visa gift cards differ from the retail gift cards you are most likely familiar with, which make it so you are forced to use your gift card funds at a certain retailer or store. This means that you can only choose from items carried by the store or the brand such as apparel, cosmetics, electronics, and furnishings. And what if you don’t really like any products offered by the retailer? Well, tough luck, my friend. There’s not much you can do regarding the mechanics of gift cards.
However, Visa gift cards are very much not like the retail gift cards you are used to. Issued by a legitimate financial services corporation, Visa gift cards act as a substitute form of electronic payment similar to that of a credit card or debit card. Of course, none of the funds you would utilize from a Visa gift card are subtracted from any preexisting bank account or added to a credit card bill. Visa gift cards are already loaded with digital funds from the individual who purchased the card, meaning the gift recipient won’t be spending any of their own money unless they go above the gift card amount.
Whether you want to use your Visa gift card at a fancy new restaurant, at a gas station, to purchase movie tickets, at a department store, or on the hottest new fashion drops from your favorite boutique, you are free to do it all. As long as you are doing your shopping at a location that accepts Visa payment methods, there should be no issues using a Visa brand gift card to complete your purchase.
Visa gift cards are truly a great and innovative way to pay that transforms the way we think of gift cards, but are there any drawbacks or consequences to this amazing feature of technology? While not necessarily negative, there are some things to take note of in regards to Visa gift cards that may come as a surprise to you. Let’s talk about them and clear up any confusion in the room.
Visa Gift Card Fees
Unlike common retail gift cards you may come across in supermarkets, department stores, and other places where merchandise is being sold, Visa gift cards require a fee in order to be activated. Normally when you buy a gift card for a certain retailer, restaurant, or store, the cost of the gift card is the amount you load onto the gift card. So if you want to purchase a gift card for $50, you will be paying exactly that amount with no additional fees attached – typically no sales tax either, since gift cards are not considered to be goods for sale since they are purchases meant to be used as a form of payment in the future.
If you weren’t aware of that little fact before, then you are now. It’s easy to assume all gift cards function with the rules of retail gift cards and similar gift certificates since those are the types of gift cards folks typically give as gifts to others, but that just isn’t the case. Banking gift cards, which is what Visa gift cards are classified as, require fees at the time of purchase in order to activate them.
Mind you, none of these fees are astronomically high and likely won’t have much of an impact on your total purchase, but the mere concept of these fees may deter some folks from choosing a bank gift card. After all, why spend even more money on a gift card when you could get a retail gift card and only spend the exact amount you are loading onto the card?
With all its advantages, it isn’t hard to see why a Visa gift card makes for a perfect choice of present.
The activation fee of the Visa gift card you purchase is usually dependent on the amount of funds you put onto the gift card. All Visa gift cards have a fee, but the exact amount you will pay varies. Here’s a brief guide detailing what you can expect to be charged based on the value of your Visa gift card:
- Visa gift card values from $10.00 to $74.99 typically have a $2.95 fee
- Visa gift card values from $75.00 to $149.99 typically have a $3.95 fee
- Visa gift card values from $150.00 to $249.99 typically have a $4.95 fee
- Visa gift card values from $250.00 to $349.99 typically have a $5.95 fee
- Visa gift card values from $350.00 to $500.00 typically have a $6.95 fee
Keep in mind that this is a general guide pertaining to typical Visa gift card fees and may not be accurate in all scenarios. For instance, Visa gift cards purchased from certain retailers such as Target or Walmart have different activation fees. A $50 Visa gift card bought from Target will require a $5 activation fee, which is quite the price hike from the normal $2.95 activation fee.
Visa itself does not implement fees on their prepaid cards; rather, it is the banks and credit card unions that Visa partners with who set their own terms. That is why purchasing Visa gift cards from certain retailers and banks may result in different activation fees for you. If you want to avoid spending more money and only wish to pay the bare minimum for your prepaid Visa card, it may be worth looking into the terms each retailer has in regards to the sale of Visa gift cards. This can save you money in the long run, especially if you plan on buying more Visa gift cards in the future.
It should also be noted that prepaid Visa cards may incur fees after a prolonged period of inactivity. Gift cards must retain their balance for several years due to federal law, but that does not mean companies cannot choose to charge customers a fee if the gift card is not being used. Be careful and avoid incurring any additional fees by ensuring your Visa gift card does not go unused for more than twelve months; after the twelfth consecutive month of inactivity, businesses can charge you a monthly fee for continued card dormancy.
Buy a Visa Gift Card and More with Gift Card Granny
There’s a lot you should know before purchasing a Visa gift card, what with the variations in the policies of different businesses and such. But now that you have a better idea of what to expect when seeking out a Visa gift card, you must be wondering which retailers have the best deals and lowest fees.
We’re quite pleased to tell you Gift Card Granny offers a variety of ways to purchase a prepaid Visa gift card. You can build a custom Visa card, choose from an array of predesigned cards, send a virtual Visa gift card, and more. While some well-known retailers may upcharge you on Visa gift card fees, Gift Card Granny follows the chart listed above and only requires you to pay a minimal amount per gift card value.
Build your own custom Visa gift card on Gift Card Granny!
If you really are hoping to avoid a fee entirely on your gift card purchases, you will be happy to know that Gift Card Granny offers a wide range of retail gift cards that require no activation fee at all. These gift cards can be for a variety of different categories including department stores, lodging, sporting goods, arts and crafts, and drug stores.
Gift Card Granny hosts many popular brands that are sure to catch your attention, but we also offer gift cards to local hot spots you won’t find anywhere else. Whether it’s in the neighborhood or a national retailer, Gift Card Granny gives customers easy access to some of the best gift cards on the market and charges no additional fees. As a matter of fact, the best part about buying retail gift cards on Gift Card Granny is all the cash back you will earn in the process.
Gift cards for eligible retailers and brands available on Gift Card Granny will earn you a corresponding amount of cash back, which gets credited to your account and may be used for future savings on gift card purchases. For instance, if you buy a gift card with a value of $25 you will earn $0.25, if you buy a gift card with a value of $50 you will earn $0.50, and so on. Check out Gift Card Granny now to browse our selection of gift cards and to see if any are right for you.
Send a GiftYa
Another convenient way of sending someone you know a gift card without any attached fees is through GiftYa. This digital gift service allows you to choose from thousands of great locations that can be found across the country, all with the ease and swiftness of a text message. It’s great for those last minute presents that you nearly forgot about, and you don’t even need to worry about making the wrong choice – your gift recipient can easily swap out whichever retailer you chose for a similar merchant so your funds don’t go to waste.
Stress less when you use GiftYa for all of your digital gifting needs!