In today’s digital economy, consumers have a variety of ways to spend their money. Among these methods of payment is the growing popularity of gift cards. These pre-funded tokens can be used to make purchases at specific vendors or online stores.
Depending on the arrangement, one can use gift cards only during certain times of the year or for a certain product or service. You can purchase a gift card for someone you know or yourself and save it for later use. The use of a gift card is not limited to tangible cards with unique codes; virtual equivalents such as PayPal funds can also be considered as a type of gift card. Let’s take a closer look at what exactly a PayPal gift card is and how you can deal with them in your books efficiently.
Keep on reading to learn more about:
1. What is a PayPal Gift Card?
2. How to Get a PayPal Gift Card?
3. How to Spend the Balance on a PayPal Gift Card
6. A PayPal Gift card: Final Words
What is a PayPal Gift Card?
A PayPal gift card is a non-physical gift card that is stored in your PayPal account. It is linked to your PayPal account and can only be used through your account. The gift card balance is deducted from your account when it is used. You can send a gift card to anyone with a valid email address. You can send it via email, text message, or print it out and mail it.
A PayPal gift card can only be used to purchase goods and services from select retailers that accept PayPal. You can find the full list of retailers on the PayPal gift card page. You cannot use a PayPal gift card to withdraw money from your PayPal account.
How to Get a PayPal Gift Card?
You can get a PayPal gift card by visiting the PayPal gift card page. You can also send a gift card to a friend or family member by clicking the Send Gift option on the right side of the page.
How to Spend the Balance on a PayPal Gift Card
To spend the balance on a PayPal gift card, go to the gift card page and log into your account. You can click on the Use Gift Card button to enter the code displayed on the gift card.
If you have printed a gift card, you can enter the 16-digit code on the back of your gift card.
You can also click the Send Gift button to send the gift card to another person. You can then choose to send the gift card via email or text message, or you can print it out and mail it.
Pros of a PayPal Gift Card
Using a PayPal Gift card has some benefits under the hood. Here they are:
- You Can Use it from Anywhere: Since you can use a PayPal gift card from anywhere, you don’t have to be near a physical gift card or store to use it
- Easy to Send and Use: You can send a PayPal gift card to anyone with an email address. You don’t have to worry about losing it, and it’s easy to use. You just need to enter the code or find the gift card email in your inbox and click on the link.
- Use it Again and Again: With a physical gift card, you can’t use the same gift card again. With a PayPal gift card, you can use it again and again.
- Save it for Later: You can also save the balance on your PayPal gift card for use at a later time. You can add the balance to your PayPal account or transfer it to your bank account.
- No Expiration Date: Unlike a physical gift card, a PayPal gift card does not have an expiration date.
Cons of a PayPal Gift Card
Still, there are some drawbacks you might want to consider:
- Can’t Be Used to Transfer Money: Since it’s a gift card, you cannot use it to send money to someone. You can only use it to purchase goods or services.
- Physical Gift Card is Preferred: While a virtual gift card may be convenient, most people prefer a physical gift card. You can’t frame a virtual gift card, and it doesn’t have the same sentimental value as a physical gift card.
- You Can’t Purchase a Physical Gift Card: With a PayPal gift card, you can only purchase a virtual gift card. If you want to present someone with a physical gift card, you need to buy one directly from a shop.
A PayPal Gift card: Final Words
A PayPal gift card is a great way to give someone a gift without having to worry about failing to guess what people might like or dislike as a gift. You can send a PayPal gift card by email or text message and have it delivered in seconds. The recipient can then use the gift card to shop online from the retailer of their choice, including PayPal. These gift cards are basically credits that are applied to your PayPal account, so you can use them to pay for anything. You can also save the balance in your PayPal account for later use.