“Is GiftCash safe? Should you buy gift cards there?”
These are big questions that arise when buying and selling gift cards.
In this post, I will find the reality, look at user experiences, analyze ratings, and share some red flags. This will help you determine whether GiftCash is a safe bet for online transactions.
Let’s get straight into this –
What is Giftcash?
GiftCash is an online platform with the main objective of trading gift cards for cash. It enables users to sell unwanted gift cards or exchange them for cash. It was founded in 2017 and offers a simplified process for users to get paid for unused or partially used e-gift cards.
GiftCash also positions itself as a solution for consumers to put money back into their pockets, providing a valuable service for those who want to liquidate their unused gift cards.
Please note that there seems to be a separate initiative under the same name, “Giftcash”, a platform for earning money online. This service lets users earn money by watching videos and playing games.
Is Giftcash Safe?
Yes, GiftCash appears to be safe and legitimate for buying and selling gift cards online. However, its bad rating may pull you away from purchasing.
It has a “D” rating from the Better Business Bureau and a 3.3-star rating from 661 users on Trustpilot, demonstrating credibility.
However, there have been some customer complaints on the GiftCash website about issues such as not receiving payment or encountering problems with purchased gift cards.
While GiftCash seems to be a reliable platform, it’s essential to stay cautious and vigilant when selling or buying gift cards online.
It’s always a good idea to familiarize yourself with a platform’s policies and check for user feedback before proceeding with transactions.
How Does Giftcash Work?
Here’s how GiftCash works:
- Visit the GiftCash website and browse their list of accepted third-party gift cards.
- Check the rates at which GiftCash is buying gift cards. The platform aims to offer competitive rates, but they are subject to change at GiftCash’s discretion.
- Sell your gift card electronically by entering the required details. Accept the cash offer provided by GiftCash for your gift card and proceed to enter your card’s information.
- Receive your payment for the gift card once your details are verified and approved.
On paper, GiftCash appears safe and legitimate. However, I always recommend you exercise caution when engaging in online transactions.
Is GiftCash ‘Really’ a Scam?
Yes, I believe GiftCash is a scam website in 2023. And honestly speaking, I’ve my reasons for it.
- Failed Payment Transactions: After selling my gift cards and accepting the offer made by Giftcash, the promised payment was not received. This discrepancy is a red flag and raises significant doubts about its operations.
- Unsatisfactory Customer Service: My interactions with Giftcash’s customer service were far from satisfactory. The service was unresponsive and failed to resolve my complaints effectively, which is not what I expect from a reputable company.
- Opaque Business Practices: During my transactions with Giftcash, I found a lack of transparency regarding the status and details of the transactions. This lack of clarity further raises concerns about their business practices and authenticity.
And TBH, I’m not alone. Just look at third-party review sites like Trustpilot, and you’ll see all the red flags you should see on the website.
5 GiftCash Red Flags
Before you purchase gift cards from the website, make sure to read these red flags –
Failed Payment Transactions
A consistent pattern of complaints related to Giftcash involves users not receiving the promised payment after they have sold their gift cards to the platform.
They accept an offer for their gift card and send the card details or physical card as requested, but the promised payment does not materialize. This failure to fulfill financial obligations is a major red flag and can indicate unscrupulous business practices.
Delayed Payments
Giftcash, like many similar platforms, promises that users will receive their payments within a certain timeframe.
However, numerous users have reported significant payment delays, with some waiting weeks or months beyond the advertised timeframe. This inconsistency between the company’s promises and delivery can signal potential problems.
Account Suspension Without Notice
Some Giftcash users have reported sudden suspension or termination of their accounts without prior notice or clear explanation.
This prevents them from accessing their account or pending payments, leading to potential financial loss. Abrupt account suspension without clear reasoning or a chance to resolve potential issues is a serious red flag.
Lack of Clear Terms and Conditions
A reputable company should have clear and understandable terms and conditions. These should be easy for customers to find and understand. However, if these are lacking, unclear, or very complicated, it could be a sign that the company is not being upfront about its practices.
Excessive Levels of Complaints
An overwhelming number of user complaints is the first major red flag. Negative reviews of GiftCash are plentiful, with consumers often airing grievances about the service not living up to its purported promises.
These complaints range from not receiving payments as promised to receive significantly less money for their gift cards than originally quoted.
Concluding Thoughts
Remember that if you encounter any suspicious activity or feel uncomfortable during the transaction, it might be safer to abort the process and find an alternative reliable platform.
Always validate information, cross-check details, and secure data using online services like GiftCash.
FAQs
Q – Does giftcash pay instantly?
Answer – GiftCash does not typically offer instant payment for your gift cards. While it has a payout speed that varies, it seems some users report receiving payment within an hour. Then, once you sell your card to GiftCash, you can expect to receive a PayPal payment within 48 hours. However, there are cases where users experienced longer waiting times, with payments pending even after two weeks.
Q – What happens if the gift card I sold on GiftCash is not accepted?
Answer – If the gift card you sold does not pass GiftCash’s verification process or does not meet its criteria, it is typically returned to you.
