Prepaid Gift Cards - All You Need to Know

Prepaid Gift Cards have become a popular choice for gifting, providing flexibility and convenience for the recipient to choose their desired purchases. These cards, which function similarly to debit cards, offer a modern and practical alternative to traditional gifts. This article provides a detailed overview of Prepaid Gift Cards, including their functionality, purchase process, associated charges, and conditions.

A Prepaid Gift Card is a plastic card pre-loaded with a fixed amount of money by the giver. It functions like a debit card but does not require a bank account for the recipient. The card can be used for various transactions, including online purchases and in-store shopping at locations that accept cards from networks such as Visa or Mastercard.

Key Features:

• Preloaded Amount: The card comes with a predetermined balance.
• Usage: Can be used for online and in-store purchases.
• Non-Customer Use: The recipient does not need to be a customer of the issuing bank.

For Non-Customers

1. Visit a Bank Branch: Non-customers must go to a branch of the issuing bank.
2. Fill Out the Application Form: Complete a Gift Card application form which requires:
   • Purchaser’s Details: Name and address.
   • Recipient’s Details: Name and address.
   • Amount to Load: Specify the amount to be loaded onto the card.
   • Payment Details: Cheque or demand draft details.
   • Purpose of Gifting: Indicate the reason for the gift.
      
3. Submit Documentation: Provide a filled Know Your Customer (KYC) form along with identity and address proof.
4. Payment: Submit the payment amount, including any applicable fees, via cheque or demand draft.

For Existing Customers

1. Online or Phone Banking: Existing customers can purchase the Gift Card through:
   • Net Banking: Fund transfer through the bank's online platform.
   • Phone Banking: Request the card via the bank’s phone banking service.

• Purchase Fee: Typically, no additional fee is charged for existing bank customers.
• Usage Fees: No charges for card usage. However, checking the balance at an ATM may incur a small fee.
  

1. Card Activation: Once the card is issued, the preloaded amount is available for use as soon as the bank processes the transaction.
2. Usage: The recipient can use the card to:

• Make Online Purchases: Enter the card details during checkout.
• In-Store Purchases: Swipe the card at locations accepting the card’s network.

3. Balance: The card balance decreases with each transaction until the funds are exhausted. Note that cash withdrawals are not permitted with Prepaid Gift Cards.
   

1. Geographical Restriction: The card can only be used within India.
2. Cash Withdrawals: The card cannot be used to withdraw cash.
3. Load Limit: The maximum amount that can be loaded onto a Prepaid Gift Card is Rs 10,000, as per HDFC Bank’s guidelines.
4. Single-Load: The card is a one-time load card and cannot be reloaded with additional funds after the initial amount is used.
   

Prepaid Gift Cards offer a convenient and flexible gifting solution, allowing recipients to enjoy the freedom of choice. They function similarly to debit cards but with specific limitations, such as no cash withdrawal and a fixed load amount. Understanding the purchase process, associated fees, and conditions can help ensure a smooth gifting experience. Whether you are a current customer or not, obtaining a Prepaid Gift Card is straightforward, with various options available to suit your needs.

Looking to apply for an e-GiftPlus Card? Click here now!

* Terms & conditions apply. GiftPlus Card approvals are at sole discretion of HDFC Bank Ltd