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The Quick And Easy Way To Get Money Off Of Gift Cards
If any of your family or friends were wasteful enough to spend $29 to give you a $25 Visa or Mastercard gift card, rest assured, there is hope. Aside from selling the card to somebody else (and this is all assuming that you don’t want to use the card to actually buy anything), you can just send the money to yourself via PayPal. I did this last night with my gift cards using a Donate button I created for my account. Simply log out of your PayPal account and donate money to yourself from the card using whatever personal info you registered the card with. Keep in mind that Paypal takes a 2.9% + $0.30 fee for you to receive the money (on a business account, anyway). On $25 cards, this worked out to a little over a dollar per card.
Also keep in mind that you need to wait a bit (try a couple hours for best results) after registering your card with the issuer before donating to yourself. Paypal may decline the card on the first try, while also putting a $1 hold on it. In a fit of impatience, I started over again with $24 donations, and it went through. This leaves $1 on each of my 3 cards. The best solution in this case is NOT to donate $1 to yourself after the hold clears, because you’ll lose 33 cents on the transaction, which is pretty steep. Well, it’s 33% for that matter. I intend to take them to the gas station I frequent after work, explain my situation to one of the regulars there that knows me, and make 3 $1 purchases of gas. It’ll have to be done inside though, because the pump will probably reject the card for not being able to cover the initial hold.
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