A Mastercard gift card is one of those gift vouchers you look at and smile about because you know it’ll be useful for shopping. But not everyone looks forward to shopping with one. Thankfully, the gift card is so versatile that you can cash it and do what you want with the money. The only question left is if you know where to trade your Mastercard gift card for cash.
For context, a Mastercard gift card is different from a regular debit card from the same company. Both serve the same function, which is to make payments. However, a regular Mastercard debit card has other features, like being reloadable. A gift card, on the other hand, is not, but it can be sold for cash when the need arises. So, let’s turn our focus to it.
In this article, you’ll learn where you can trade your Mastercard gift card for cash and how to do it as well.
Overview of Mastercard Gift Card
Mastercard gift card is a prepaid debit card issued by the payment processing company Mastercard Inc. It serves as a means of payment and is accepted by many merchants because it’s an open-loop gift card. This is an advantage for its holders as they have a wider range of stores they can shop from.
When the company started in 1966, they were called Interbank Association. It wasn’t till 1979 that they adopted the name MasterCard. As a financial services organization, it is known for providing banks and their customers a payment platform through their debit, credit and gift cards. The only card that can’t be used to withdraw cash from an ATM among the cards they provide is the gift card. However, gift card trading platforms have made it possible to trade them for cash, and we’ll show you how and where.
Why Trade Your Mastercard Gift Card for Cash?
Since Mastercard gift cards are very versatile, it might seem silly to want to exchange them for cash but different strokes for different folks. If you really consider it, there are two solid reasons why you might decide to trade your gift card for cash, and they are as follows
- You don’t want the gift card.
- You need cash urgently.
Where To Trade Your Mastercard Gift Card For Cash
Trading your Mastercard gift card can be easy and straightforward if you are trading on the right platform. There are several platforms that allow users to trade gift cards for cash. But you must be wary of fraudulent platforms or users who will take your gift cards and not pay any cash. Before you pick an exchange, you need to carry out certain checks and ensure that the one you’re considering fulfils some requirements.
How to Choose a Good Platform to Swap Your Gift Card
The following criteria will help you confirm that a platform is safe to use:
- User-friendly: It must be easy to use with a simple user interface.
- Security: The platform should have high-security encryptions and ways to weed out malicious actors. Protocols like KYC or ID verification are good indicators that a platform is safe.
- Rate Calculator: the platform must have a rate calculator that displays the rates to help you know if the trade is fair or not.
- Excellent customer support: The platform must have customer service to call if anything goes wrong.
- Speed: Ideal payout time should be within minutes.
One platform that possesses all these attributes is Prestmit. You can use the app or trade directly on the website. you can sell your Mastercard gift card at the highest rates in the market.
How to Trade Mastercard Gift Card for Cash on Prestmit
With the following steps, you can swap your Mastercard gift card for cash in minutes.
- Download the app on your iOS or Android phone.
- Create an account or sign in if you’re an existing member.
- On the dashboard, select Buy/Sell Gift Cards. Then select Sell Gift Card.
- Select your preferred payment mode. On Prestmit, you can be paid in Naira, Cedis or Bitcoin.
- Fill out the form on the next page. Under Gift card categories, choose Mastercard. Fill out the other fields and see the rate for the gift card in the denomination you provided.
- Follow the prompt to finish the transaction, and you’ll receive your payment in your Prestmit wallet.
How To Check Rates Before You Trade
Every reliable gift card exchange platform should have a gift card rate calculator. On Prestmit, you can check the current rates per time by entering the
Make sure to pick Mastercard when selecting your Gift card category. After filling out the other options, you will get an automatic calculation of what your gift card will cost in Naira.
Conclusion
Mastercard gift cards are one of the best-selling gift cards because they’re very versatile. As an open-loop gift card, a Mastercard gift card is usable for payment on any platform that accepts Mastercard debit/credit cards. So it’s always in demand. This means that you can trade yours for cash if you have no need for it. While there are myriad platforms to choose from on which you can sell your Mastercard gift card, one of the best is Prestmit. As a leading digital trading platform, Prestmit enables you to buy gift cards at unbelievably good rates and sell the ones you don’t want at the highest rates per time.
To be able to trade your Mastercard gift card for cash on Prestmit, you must have an account. Download the app on App Store or Google Play Store and swap your vouchers in minutes.
If you decide to try out other platforms, ensure you run a critical check using speed, security, ease of use and great customer support as metrics for picking a reliable and suitable platform.
