Lose Your Gift Card? Here’s What To Do

So you want to do something nice for someone, or someone has done something nice for you, and that resulted in a gift card being given. And who doesn’t love some essentially free money to spend at their favorite store? 

Gift cards are a great way to give somebody a gift without locking them into a specific item that they may not like, and they are super convenient when you are searching last minute for the perfect gift. There are so many reasons to enjoy gift cards and the convenience that they offer that we often do not think about the drawbacks of gift cards, which do in fact exist. You may be wondering how exactly a useful piece of plastic (or cardboard) with what is seemingly ‘free money’ on it can have its negative qualities, but consider the following scenario: you’ve misplaced your gift card and now have no idea where it is. What happens to all that money still remaining on the gift card? Well, not much. Whether it’s a couple bucks or a whopping few hundred dollars, a lost gift card’s funds are basically like losing cash–once it is gone, it is gone. 

Now, it’s important not to immediately freak out too bad. Sometimes cash is recovered in times of high stress, and the same can be said of gift cards. In fact, you likely have a better chance of recovering lost gift card funds than you have of getting back lost cash. Why is that? Because there are processes and guidelines in place by gift card retailers that tackle these exact scenarios and can help you possibly recover your lost gift card. 

Rather than let the frustration and panic build up inside of you, take a calming breath and act rationally. You should immediately take it upon yourself to contact the issuer’s customer service department once you realize that the gift card is missing to cancel it and see about obtaining a replacement card. 

We also recommend familiarizing yourself with your rights regarding gift cards, since there are different regulations depending on the location and company that you purchased from. For your security and peace of mind, keeping records of your purchases and receipts can astronomically improve your chances of recovering a lost or stolen gift card and help to prove the claims you are making. By being informed and proactive in your attempt to get your lost gift card back, you can help protect yourself from the disruption that stems from losing gift cards. 

Recovering A Lost Gift Card

Once you realize a gift card is lost or stolen, you may feel determined to make an attempt to recover it. This may be possible depending on the steps you take and how fast you act after realizing that the gift card is no longer in your possession. Regarding standard issue retail gift cards, which includes Visa gift cards, it is imperative that you check and familiarize yourself with the issuer’s guidelines. 

While different gift cards may function similarly to each other, some companies and gift card retailers follow different sets of conditions and policies in the case of a lost gift card. For your own benefit, it is recommended that you go over the terms and conditions associated with each gift card you own, as the guidelines can widely vary. 

Starting the Replacement Process

To begin the replacement process and have the best odds of recovering a lost gift card, you should contact the original seller or card issuer as soon as possible. If you have the receipt, this process will go over a lot more smoothly and your odds of getting a suitable replacement will significantly improve. 

Many retailers have a committed process for lost or stolen gift cards. You should follow the instructions that you are given closely and be careful to not miss important details or leave out key information, as neglecting to properly follow the process can result in delays to your request or failure to get a replacement card. Keep in mind that not all gift cards may be able to be recovered. Prompt action and clear communication, plus a considerable amount of patience, with any representatives you speak to will aid you in the process. 

Confirmation and Following Up

So you’ve submitted your replacement request and are now waiting to hear back from the gift card issuer. If you are anxious to get a response regarding updates, do not be afraid to reach out to their customer service or appropriate department. We advise that you keep a record of your communications with customer service so that you can provide any necessary information. 

Following up, keeping notes, and being aware of timelines will all help you on your gift card recovery journey and help to counteract any disputes that may pop up along the way.

Preventative and Protective Measures

If you have had the misfortune of losing or having a gift card get stolen before, then you are likely well aware of the frustration and hopelessness that stems from the matter. You are also unlikely to have the same misfortune happen twice, because you know better this time around and are taking steps to better protect your funds. 

Register Your Gift Card Online

There are many retailers and gift card issuers out there who allow you to register gift cards online for additional security. This provides an extra layer of protection and also enables you to view the gift card balance and transaction history, that way if you see a purchase you do not remember making you can promptly take action against it. If your gift card is lost or stolen, having your gift card registered may allow you to recover the funds without too much hassle. Remember to keep your receipt, as some retailers will request proof of purchase in order to assist with the claims. 

Monitor Gift Card Activity 

One of the most obvious things you can do to protect your gift card funds is to keep a close eye on your gift card activity. Regularly monitoring your gift card activity and being aware of any unauthorized transactions can help you detect fraud early on, giving you a better chance to immediately report suspicious activity to the gift card issuer. 

There are many retailers who offer online access or mobile apps where you can check gift card balances and review purchase history, allowing you to see the transactions you have made and to stay aware of the activity occurring on your account. 

Keep Gift Card Secured

As with any credit or debit card, you should do your best to securely handle your gift card and treat it as you would cash. Physical gift cards should be kept in a safe, secure place where you know you will not lose track of it. A wallet designed to counteract electronic theft would be a smart choice for when you have to carry your gift card on your person; otherwise, try storing your gift card in a secure part of the house. Do not just leave it laying around where anyone could have access to it. 

In regards to digital or virtual gift cards, you should treat the gift card number and associated details as any other sensitive information. Do not write down any important information in unsecure places, and do not give out your information to other people. Ensure digital gift cards are registered to secure email accounts with strong passwords and two-factor authentication wherever possible. Paying attention to where and how your gift card is stored can help prevent unwanted or unauthorized use. 

Consider GiftYa As an Alternative to Traditional Gift Cards

If you want to completely circumvent the possibility of losing a gift card and its funds, then there are alternative solutions to traditional gift cards that make it nearly impossible to lose track of your funds or have them stolen. Digital or e-gift cards are much like physical gift cards in how they operate, but rather than keeping them in your wallet, these gift cards typically remain behind a screen, which makes them incredibly difficult to misplace or have stolen. 

For even more security, we suggest trying out gift cards from GiftYa. GiftYa gift cards remain digital and are usually received via text, so your recipient has the gift card stored conveniently on their phone and registered to their respective GiftYa account. This makes it leagues more difficult to misplace your gift card and basically ensures that you will have access to your funds no matter what happens. 

Buy a digital GiftYa gift card

How Does GiftYa Work?

GiftYa makes it super simple to send and receive gift cards in a matter of moments. Plus, everything is digital, which means you won’t run the risk of losing your plastic or cardboard gift card. Hooray!

The steps to GiftYa are as follows:

1. Choose from more than 190k national and local locations 
2. Create a unique and personalized unwrapping experience
3. Send one gift card or multiple to various people
4. Deliver the gift through text or email, then let them choose how to use the gift
5. Stay informed on when your recipients open and use their gifts

Using a GiftYa digital gift card is the perfect way to indulge in gift card traditions and convenience without the possibility of misplacing your gift card. It’s still important to keep your gift card information secure so that you do not run the risk of potential theft, but the enhanced security that GiftYa offers makes it an excellent alternative to traditional gift cards. 

Stay Protected

We sincerely hope that you are able to use the information provided above to help you recover the funds of a lost or stolen gift card. Remember to stay informed in regards to your rights as a consumer and the local regulations of the state you live in. Knowing what the replacement policies are ahead of time can save you from major headaches in the future. Even if it is a digital gift card, it is still important to stay informed and alert so that you can best protect yourself and your loved ones.