Quote:
Originally Posted by Barbara1955
Dang TM you beat me to it 
BTW Western Union Charges for this service! |
Neither are Gift Cards Really. It is just that this Model moves who pays the service fee from the issuer to the user (the Gift cards seller is paid a commission to display and sell)
It can get even smellier for the Merchant:
tore branded Gift cards did not pay the commission until the card was
used. In addition, it was only paid
on the amount used, not the face value of the card. Note: Stats said 30% of Gift cards were never cashed or cashed out fully. The Corporation kept the Money, not the merchant.
IIRC California passed a law that cards with residuals under $10 MUST permit
redeeming for cash.
How many consumers have really done that? The store is not required to remind you of this law.
How many of you HAVE gift cards laying about with residual amounts?