I have experienced different moments of being broke. Some days, it is because there are several bills to cater to, and funds seem to be insufficient. On some other days, there is no money at all.
Recently, I had an experience where I had no money at all. I spoke with my uncle, who offered to send me some money. After some minutes, I received an AMEX gift card from him but was completely clueless as to how it could solve “my money problem.” I told a friend about this, and he explained how I could convert the gift card to cash rewards.
My friend introduced me to Ridima, a leading gift card trading platform in Nigeria. I decided to give it a try and was pleasantly surprised. Not only did I sell my AMEX gift card at a competitive price, but I also found a wealth of information about gift cards on their website. This was my first step into the world of redeeming gift cards for cash rewards, and I couldn’t be happier with the experience.
In this article, I will provide basic information about gift cards and explain how you can send or receive money using them. I have also included reasons to use gift cards to send money. Keep reading.
What are Gift Cards?
Gift cards are gift vouchers that may be used to make purchases at physical and virtual retailers. They are preloaded with a specific amount of cash.
The gift card can be redeemed in-store, and the available balance can be used to make purchases. There are two types of gift cards;
- Digital gift cards (also known as E-codes)
- Physical gift cards.
While the digital gift card is given to your email, the physical gift card is often in tangible form and can be found anywhere. There are various monetary denominations for gift cards, such as $5, $10, $25, $50, $100, $200, and $500, among others.
The most demanded gift cards include Amazon gift card, American Express (AMEX) gift card, Steam gift card, iTunes gift card, Google Play gift card, Razer Gold gift card, Sephora gift card, and other retailers.
How To Send Money Via a Gift Card
Whether you’re sending money to someone with or without a bank account, the process is straightforward. Here’s a simplified step-by-step guide to help you navigate the process;
- Select the type of gift card you want to send money through.
- Open your Ridima app and log into your account. If you don’t have the app, you can download it from the Google Play Store for Android devices and the App Store for iOS users.
- On the next page, click on “Buy/Sell Gift Cards.”
- Choose “Buy Gift Cards” from the displayed options.
- Indicate the country of the gift card you want to send, for instance, the United States.
- After choosing the gift card country, indicate the gift card brand you decide to buy.
- Input the amount and quantity of gift card you want to purchase.
- Click on “Proceed” to ascertain the purchase.
- Check the purchase summary before proceeding to buy the gift card(s).
- The transaction is completed.
- Copy the displayed e-code and share it with the recipient via any platform.
You can also order a physical card online or ask the recipient to pick one up in a convenience store.
How To Trade Your Gift Card for Money
The recipient can then redeem their gift card. See the step-by-step process on how to go about this;
- Please create an account via our website or mobile app.
- Download the Ridima Mobile App from the Google Play Store or Apple Store.
- Register and set up your account profile.
- Verify your BVN for added security.
- Add your bank account details for easy fund withdrawal.
- Click “TRADE GIFT CARDS” and select “SELL GIFT CARDS.”
- Search for the received gift card. In this case, we will use AMEX.
- Click on AMEX and specify the currency and card type (Physical card, Ecode, Receipt, etc.).
- Enter card details: sub-category, value, and amount.
- Review the cash payout in Naira and proceed.
- Verify the gift card by entering the Ecode or uploading a photo.
- Confirm the transaction and receive instant cash in your account wallet for withdrawal.
You can also use the Ridima App to pay for various bills, such as electricity, DSTV, GOtv, and airtime.
Reasons to Send Money Using Gift Cards
Here are some of the notable benefits of using gift cards to send money;
- No need for a bank account
You don’t need a bank account to send money via gift cards, eliminating the dependency on commercial banks as an intermediary. However, you may need a bank account as the recipient.
- Ease of use
The major advantage of sending money using gift cards is its flexibility and ease of use. The recipient can decide to redeem their gift card for cash or use the balance for other purposes. Also, it is a straightforward and stress-free process.
- Optimum safety
Sending money via gift cards reduces the risk of fraud or theft. Keep your PIN safe, and you can feel confident in the security of your transaction.
- No currency limitation
When you receive money via gift card, you do not have to worry about the currency barrier. Even if your gift card is in another currency, you can still trade it for your country’s currency.
Frequently Asked Questions About Sending Money Using Gift Cards
Question 1: Can I convert my gift card into cash?
Yes, you can convert your gift card into cash. But, ensure you contact a reliable platform like Ridima to trade your gift card.
Question 2: Can I send money to another person using a gift card?
Yes, you can. See the steps above to get started.
Question 3: How much can I send via gift cards?
Gift cards exist in denominations. Hence, the limit you can send is dependent on the maximum denomination of the particular gift card.
Question 4: Is it safe to send money via gift cards?
Yes, it is safe to send money via gift cards. But do not disclose your details to anyone to reduce the risk of theft or fraud.
Question 5: Where can I trade gift cards for cash?
Ridima has been approved as the most reliable platform for trading your gift card for cash. You will also enjoy mouthwatering, soul-satisfying deals.
Conclusion
You can use the Ridima rate calculator to determine the worth of your gift card. Trade with Ridima today and enjoy high rates.
