What happens to the remaining balance on a gift card?

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What happens to the remaining balance on a gift card? - Mon - Sep 9, 2019 - 11:15am

Posted by Stacy Updated: Aug 2023 0 Comments Gift Certificates

For example, If someone buys a gift card and only redeems $27 of the $30 on the card, whose bank account stores the $3? Who earns the interest on the $3?

You receive the money at the time the gift card is purchased so any interest is yours. The revenue from the gift certificate purchase would be processed in your payment gateway, and eventually deposited into the bank account connected to your payment gateway. This is the same as any purchase within ThunderTix -- we never collect or hold your funds.

View Our Video Tutorials Related Discussions How gift certificates work Are we only charged for a purchased gift card once? What about when it's redeemed? Does ThunderTix automatically create a gift card form for our website? If we have an event that is $90 per person, can we create a $90 gift card? How do I void a gift certificate? How can I refund a purchase as a credit or gift card? How can I change the balance of a gift card?