FAQ

iTech Redeem is a Gift Card Redemption service. We help individuals convert their gift cards into cash. Although gift cards can be a thoughtful and valuable gift option, we believe people should have the flexibility to spend their money wherever and whenever they choose.

Open-loop prepaid gift cards have increasingly faced usage constraints. They are often non-reloadable, and many merchants have begun blocking transactions involving these cards. Additionally, issuers frequently impose restrictions on where and how the cards can be used.

With these restrictions, many owners of open-loop prepaid gift cards find themselves leaving money unused on the cards, essentially forgotten. iTech Redeem offers a solution by providing anyone who would prefer cash over the hassle an opportunity to recapture the money that is rightfully theirs.

Gift card redemption is the process of exchanging unused or partially used gift cards for cash or other forms of payment. Instead of letting a gift card you might not use go to waste, you can redeem it for a percentage of its value.

There are many reasons someone would redeem their gift card value! Redeeming a gift card can be a great option if you don’t plan on, or can't, use it yourself. Instead of letting it sit unused, you can convert it into cash that you can spend anywhere, anytime. It’s especially useful for open-loop gift cards that you can't combine with another payment method. For example, popular online shops like target.com don't allow you to combine multiple payment methods at checkout. This means if you have a $100.00 Visa Prepaid Gift Card and your order total is $102.54, you'd be unable to use any of your Gift Card towards the order.

Absolutely! Before you redeem your gift card you will be presented with all the information needed to make your decision. Until you agree to the quote, we won't ask you for any card information that would allow us to redeem your gift card without your consent. All transactions are encrypted, and we adhere to strict privacy policies to protect your personal information. We also use secure payment gateways for all transactions.

Open-loop prepaid gift cards are gift cards that can be used anywhere the card's network (like Visa, MasterCard, American Express) is accepted. An example of a popular open-loop gift card is the Vanilla Gift Card. Unlike store-specific gift cards, they offer the flexibility to make purchases in a wide range of locations.

Closed-loop gift cards are gift cards that can only be used at a subset of merchants. Very popular closed-loop gift cards include Amazon, Walmart, Target, etc.

We highly recommend keeping your gift card in a safe place for 180 days after you use our redemption service in case any issues arise.

The rate for redeeming your gift card can vary based on several factors, including the card issuer, current market demand, and the remaining balance on the card. To ensure you get the best possible rate, redeem your card as soon as you decide you will not use it, as rates can fluctuate.

Yes, there is a service fee for using iTech Redeem, which is deducted from the total redemption value of your gift card. The fee compensates for processing the transaction and ensures that we can provide a secure and efficient service. The amount of the fee can vary depending on the type and amount of the gift card being redeemed. You will be informed of the specific fee and the net amount you will receive before you confirm the transaction.

We aim to offer at minimum 90% of the cards value every time, but we have to use current market conditions to determine pricing.