Here's How You Can Trade In Your Gift Cards For Some Cold Hard Cash In Canada
Got too many gift cards for Christmas? 🎄
A gift card Christmas present.
A gift card can be an easy, great gift — but who hasn't had the experience of receiving an unwanted gift card that you'll probably never use?
If this happens to you this Christmas, thankfully, it turns out there are places where you can actually sell your gift cards for some cash.
Canadians could be sitting on tons of money tied up in gift cards whose value is slowly decreasing due to inflation and fees attached to the cards, reports say.
In fact, financial technology company Square found that Canadians have more than $33 million worth of unused gift cards, CBC reports.
If you're ready to trade in your gift cards for some cold hard cash, here's where to go.
CardSwap
Just like it sounds, CardSwap is a site that lets you sell gift cards or swap them for vouchers to another store, and it accepts gift cards from over 450 retailers.
The selling process is pretty straightforward and easy to do. On the selling page, you can enter the name of the merchant the gift card is for and the balance on the card, as well as your email, to receive an offer to either sell the gift card for a portion of its worth or swap it for another.
You can also trade in your gift card for swap points, which you can redeem for other gift cards on the site.
If you choose to take the cash, you'll need to mail in your gift card using the provided shipping label. Once it's received, CardSwap will mail you a cheque within two business days.
There are some conditions, including that your gift card needs to have a balance of $25 or more, but this is one of the best ways to get the most bang for your cards.
GiftCash
GiftCash is another great site for selling unwanted gift cards in Canada, offering users payouts of up to 92% of the card's value.
The site accepts cards from tons of popular brands like Amazon, Bath & Body Works, Best Buy, IKEA and Apple.
GiftCash is super easy to use, although you'll need to sign up for a free account. All you have to do is enter the merchant name and balance on your card to receive an offer.
From there, you can select how you'd like to be paid for the card, including by Interac or cryptocurrency.
Your payout will then be processed in 5-10 business days. Easy money!
Kijiji
Kijiji is Canada's largest classifieds site, with millions of listings for a wide range of products, goods and even services.
The site is also a great place to sell unwanted or unused gift cards, offering sellers the chance to get more money back for their cards than resale websites and the opportunity to get paid instantly.
When selling anything on Kijiji, it's recommended that you and your buyer meet in person. Payment options could be cash, of course, but e-transfers are also a popular and convenient option.
When selling gift cards, Kijiji shared that a good tip is to have your buyer meet you at the store that issued/accepts the gift card.
Once there, you can have a cashier verify the balance, which can make for a smoother selling experience and also gives you a public place to meet.
Craigslist
Craigslist is another popular classifieds site where you can list your unwanted gift cards.
Craigslist notes that gift cards that restrict transfer are prohibited on the site, however. Otherwise, you can create an ad to sell your gift cards to someone in your area.
Like Kijiji, Craigslist gives you the freedom to set the price where you want it and get paid faster.
Craigslist says that meeting people locally, face-to-face is the best option when using the site to buy and sell to avoid potential scams.
If you've never posted on Craigslist before, the site has a helpful step-by-step instruction page.
This article's cover image was used for illustrative purposes only.