Can I preload a gift card without paying for a grand opening giveaway? Or do I have to pay upfront and get reimbursed when used? (and if so, what if the card is never used?)
Hello! Would you mind sharing what you mean by grand opening giveaway? I want to make sure I fully understand your questions! Thanks a ton!
We are having a grand opening and are giving away gift bags with samples and I'd like to load some ecards with $10 as a gift to put into bags. When I try to load the $10 it wants to charge me $10 per card. I really don't want to pay the $10 per card and then get reimbursed when the card is used because what if someone doesn't use the card, then I'm out the money.
We did this. Ring it through as "cash", open your till, make a note on the receipt that it's an internal expense and do your accounting to manage that liability.
Have you considered giving them a coupon instead?
We got this idea from another business. In out state, if we give anyone a gift card - then it's "Good" forever and ever. No expiration. No fees. So, I'm tracking it always.
Now, when we give away items for donations, prizes etc - I print coupons with set dollar values or for specific items; and include expiration dates.
So, we only SELL gift cards, and I GIVE out coupons.
Just something to consider...
We have given out 50 5 dollar gift cards to businesses in our area. We've had 30 people use them already, and 28 of those 30 re load the cards, with four people loding over $100 on them. I think if we used a one time paper option that would not work as well.
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