Hi @NWp24. I can’t tell whether you are asking about the SALE of gift cards or the REDEMPTION of gift cards. So I’ll answer both.
When you sell a gift card to a customer, the amount of the card minus the GC load fee will be added to your Square Balance and available for transfer to your bank account.
When a customer uses a gift card to make a purchase from you, the since you obviously were already paid the money for the gift card it is treated as a discount and you will not receive any more money. That’s why some sellers (like me) create a special holding account to put funds received from gift card sales in. Then, when customers use them, I don’t take a hit on sales.
I hope that helps.
Hi @NWp24. I can’t tell whether you are asking about the SALE of gift cards or the REDEMPTION of gift cards. So I’ll answer both.
When you sell a gift card to a customer, the amount of the card minus the GC load fee will be added to your Square Balance and available for transfer to your bank account.
When a customer uses a gift card to make a purchase from you, the since you obviously were already paid the money for the gift card it is treated as a discount and you will not receive any more money. That’s why some sellers (like me) create a special holding account to put funds received from gift card sales in. Then, when customers use them, I don’t take a hit on sales.
I hope that helps.
