How to Stay Safe While Reselling Gift Cards?

 

The idea of reselling your unused or partially used gift cards can offer you the opportunity to gain financial flexibility. However, there are also risks of scams and fraud when reselling the gift cards online, which isapopular practice. You need to follow best practices to ensure a safe and secure transaction.

Here’s how you can stay safe while reselling gift cards online:

Use reputable gift card marketplaces

While looking for platforms for gift card resale, practice caution. Always use a reputable platform like CardPEM. Avoid selling gift cards through unverified platforms or random buyers. Instead, use reputable gift card resale websites. CardPEM ensures fraud protection, verification, and guaranteed payment, reducing the risk of scams.

Verify the gift card balance

Before listing a gift card for sale, confirm its balance by checking with the retailer directly. Some fraudsters attempt to buy cards with insufficient funds or invalid balances. Always keep proof of your balance, such as a screenshot or confirmation email, for your records.

Avoid direct peer-to-peer transactions

Selling gift cards directly to strangers can increase the risk of fraud. Scammers may claim the card does not work after purchase or request a refund while keeping the balance for themselves.

Never share gift card details before receiving payment

Scammers often ask sellers to send the card number and PIN before completing payment. Never provide gift card details until payment has been verified and processed. If using an online marketplace, follow their recommended selling procedures to ensure a secure transaction.

Keep records of all transactions

Documenting every step of your transactions helps protect you in case of disputes or fraud claims. Keep records of gift card balance before selling as well as payment confirmations.

Secure payment methods                   

CardPEM follows secure payment methods like Escrow services that protect both buyer and seller. Never engage in gift card resale through direct cash transactions.