Giftcards - are they secure? Cardyard answers.


It's a question we get asked a lot. So here are some of our top questions and answers.

Q: Are giftcards secure?

A: The short answer is: Giftcards are as secure as the retailer you bought them from. So as long as the retailer is in operation, your giftcard should be safe.

But it’s not as simple as this is it?

Welcome to a quick Q&A around Giftcard Security with Cardyard.

Q: Giftcard security: What’s the deal?

Each giftcard issuer has their own terms and conditions and a lot of them are unenforceable*. But very few consumers actually read the small print unless there is a problem (Seriously - when’s the last time you read the details before ticking that box online?) Fortunately - there are many overriding consumer laws to protect you, the consumer.

Giftcards are mostly bought because people trust the brand/retailer’s reputation. If you trust the retailer more than your bank, then fair enough. Because you are effectively letting that retailer hold your cash, just like a bank.

Generally speaking, giftcards have no special protection in law, and if a retailer goes into administration, then you may lose out. However, you might have some protection if you bought it using your credit or debit card – so check those out.

Q: Is Cardyard secure?

Yes. At Cardyard we check the balance of every giftcard in our system, buying or selling.

We were established in 2015, and have traded hundreds of thousands of giftcards

We hold your giftcard securely until it is sold and then transfer the money to you within 14 days of securing a buyer this is to ensure that the transaction is complete, and that the buyer is fully satisfied).

When you buy a gift card you can receive it immediately as an eCard, or have it posted on the next posting date (twice a week during lockdown).

We are governed by our terms and conditions and our customer service charter. Buyers are further protected by UK Consumer Rights Act 2015.

We are UK based, a registered company at Companies House, we are contactable by phone and email, and we directly employ all our staff. The directors live in the UK and are subject to UK law.

Our reviews are HERE, and our social media pages are Twitter, Facebook and Instagram.

Q: I want to buy a very expensive giftcard – is that wise?

If you’re going to spend a lot of money on a giftcard, it’s best to ask yourself why? Why not just buy the item you want with cash/credit card rather than first buying a gift card that will be used to buy the item?

Now - there may be valid reasons –

  • If you’re buying a high-value giftcard from Cardyard – so you can get the extra discount – Brilliant savvy purchasing.
  • You are a collector of high value giftcards and this one adds to your collection? Strange, but you do you!
  • You can prove that a fast-fashion retail chain is more secure than your own bank
  • Erm, that’s it.

Q: What happens when usage is restricted by the retailer?

We have seen situations where some giftcards could not be used because of Covid – for example, restaurants or venues like cinemas. Obviously their doors were closed, and whilst these companies held onto the cash that was already tied up in the giftcard, that same giftcard was ticking down the days to expiry.

Our suggestion, if you hold one of these – call or contact the issuing company as soon as possible and ask them what provisions they are making.

Many will extend the expiry date when asked.But don’t just assume this – make sure you get in touch with them, and get your response back in writing or by email.

Q: So what’s the best advice from Cardyard on giftcard and gift voucher security?

Spend them as soon as you get them!If you’re not going to spend them, then trade them immediately!

Buy discounted or reduced giftcards for self-use (sometimes you can save up to an extra 25% off a purchase) Check out our Cardyard deals

Never leave hidden cash on them – you know you will forget it, and it will join that Woolworth's card that you can’t bear to throw out!

Think twice about gifting gift cards. Remember you could just gift an item, or gift the cash if the store is obscure or in financial difficulty. (Nobody ever got insulted with a cash gift. Nobody. Ever. In fact – you can do this thought experiment right now: imagine your friend/mother/whoever came up to you and gave you a tenner right now – are you going to storm off in a strop? Nah!)

Q: What's self-use of giftcards?

Self-use of giftcards is increasing year on year. Self-users do this because they can buy the giftcard cheaper, and that means they get an even better deal on their purchase.

If you have a particular purchase need, then please let Cardyard know.We might know of cards coming onto the market – so make sure we earmark them for you.

Giftcard T&Cs a last word:

A lot of gift card T&Cs are unenforceable. For example, some giftcard T&Cs have a clause that says gift cards cannot be resold.However this is not a legal clause as it’s a ‘restriction of trade’ which isn’t allowed.

So if you have a giftcard that you don’t want, or has been hanging around for longer than a month – sell it on Cardyard and release YOUR cash!

22nd of February, 2021More blog posts