Originally Posted by
iowa guy
I have been looking a Visa and Vanilla gift cards. Is it correct that the largest gift card amount is $200?
Also, what is a reasonable expectation for the percentage of the manufactured spend that will be fees for the gift cards and fees for money order purchasing? For example, if I manufacture spend $1000 what would you expect the fees/cost should be? It seems to be about 4%. Is that correct?
Vanilla comes in $500. Available at CVS, Walgreens, and other places. Grocery stores also sell $500 vgc, but I don't think they're Vanilla.
Fees usually run around $7 for a $500 card, plus $1 for a money order, so $8 per $500 card which is 1.6%. $200 cards cost about the same, but $8 per $200 is 4%. Obviously, you're better with larger denomination cards, plus it requires fewer trips. Once you get started, you'll find ways to lower the fees even more, but it's good to start small and make sure it works in your area.