Is there a trick to using prepaid gift cards? Why can’t they go to PayPal or Venmo type apps? Is there a trick??
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To avoid requiring customers to fully register cards with personal information and compliance with anti money laundering laws, such prepaid cards typically are forbidden from being exchanged for cash: they are intended to be used for purchases only
As such, they often can’t be used with payment providers such as PayPal, since such transactions are often considered to be a cash equivalent in the eyes of banks
Some people don’t have bank accounts. Also other people don’t want to put their bank info online due to too much fraud and scammers.
I am Canadian and travel to the USA a lot and cannot use Venmo and many stores do not accept PayPal. I don’t want to carry a lot of cash and it is easier with a card.
Also if I want to give my 14 yr old nephew a gift i don’t want to send cash in the mail to him.
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