Did you know there's a way to send gift cards and get your money back for unredeemed gifts? Yiftee offers Community Card organizers and third party bulk purchasers the option to set expiration dates on gift cards purchased and bonus gifts in Buy One Get One promotions. This allows you to minimize waste and recycle unused funds to send more gifts or fund a new promotion. You can set expiration dates for gifts you purchase in the "manage account" section in your Community Card portal.
Bulk purchasers must have an enterprise account that we set up for them in order to set expiration dates. Enterprise accounts are available for companies, corporations, schools, universities, realtors, developers, hospitals and other medical facilities, clubs, non-profits, etc. Enterprise accounts are not for personal use. Below are our best practices for recouping unredeemed gifts.
We recently sent out or Valentine's Day Best Practices. We encourage you to customize and share these Valentine's Day social media posts and flyers with your merchants so they can promote your Community Card.
- Tell sponsors they can get their money back- The ability to recoup unused funds is rare and mostly unavailable with other gift card options. When recruiting bulk purchasers, make sure to mention they can get their money back for unredeemed gifts as long as the gifts are for awards, rewards or promotions. Once unredeemed gifts are refunded, we can send them a check or they can use the funds to send more gifts. If you have someone interested in making a bulk purchase, please email email@example.com and we'll set up an enterprise account for them.
- Create a sense of urgency- By setting an expiration date you're creating a sense of urgency for people to redeem the gift cards. Let recipients know the gifts will expire in your message on the gift cards, on your social media and via email. Yiftee sends reminders to recipients to redeem, but the more they are reminded that the gifts expire, the more likely they will be to redeem the gift cards quickly.
- Expiration dates must be set before gifts are sent- We often see folks who don't want gift cards to expire and then when gift cards go unused, they circle back to see if we can set an expiration date so they can recoup unused funds. Unfortunately, there is no way for us to set expiration dates once gifts are purchased or sent as bonus gifts, so you must set the expiration date before purchasing the gifts.
- Don't forget the restocking fee- Yiftee charges a small restocking fee when refunding unused gifts. The restocking fee is the lesser of 10% of the initial gift value or the remaining balance.
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