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Gift Card

Banks provide their customers with gift cards that either they or their loved ones could use. These cards come with various add-on deals too.

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A gift cards is a pre-loaded card that can be gifted to your loved ones for various occasions such birthdays and anniversaries or can be used by him or her which are usually given by the retailers as an alternative to cash for the purchases at malls or various shopping and business outlets.

Gift cards are being provided by various online and offline stores through which customers can shop and buy the various products from the store. 

Gift Cards are provided by many banks as well. Kotak Mahindra is one such bank giving customers various add-on deals along with the card.

Benefits of Gift Cards

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A gift card is the best way to pamper your loved ones for any occasion where the customer can provide them with various deals which they can enjoy while shopping.

If we talk about Kotak’s Gift Card, then it is very easy for the customers to purchase it from any Kotak Bank branch with a three-year validity and no prior banking relationship. The minimum loading amount in the card is Rs.5000.00 with the maximum being Rs. 50,000.

Overall Benefits of the Gift Cards are as follows:

  • Gift cards help in increasing the sales of the shopping outlets from where it is purchased so that the customers use the card to avail certain benefits provided to them while shopping.
  • Companies seek to build strong relationships with their regular as well as new customers through these initiatives. 
  • If a new store or a company has been opened, providing these cards to their customers will help them in generating the overall sales of the company by attracting more new customers to come up and avail their services.
  • These cards also help in reducing the fraud activities, as the money present within the card can be used only in the stores that provide their customers with this gift card and cannot be deducted at any other store with the complete record of money in the card available to its store manager.
  • Gift cards can be used to gift friends and relatives on special occasions such as Diwali, birthday or marriage anniversary. 

How to Operate Gift Cards?

A gift card can be operated in a simple way by following certain steps:

  1. A gift card has a specific code or a number as its resemblance and is scanned by the bar code reader machine which is present in both shopping stores and business outlets.
  2. Some gift cards also have a pin which is needed to be keyed in at the time of swipe in the electronic card machine so that your money can be deducted from it while shopping.
  3. The cards can be bought online by visiting the website of the company or the bank from which you want to avail this card and then just add money.
  4. The money once added can be used to purchase products. As it a pre-loaded card, one has to keep a track of the remaining balance in the card. In case of bank gift cards, one can easily do so through an ATM or online. If your mobile number or email is registered with the gift card, you will receive notifications about the card. 

Things to Consider 

  • Gift cards give an opportunity to the customers to buy anything they want from the store.
  • The cost of gift cards is much less than the cost of mailing packages for the gifts that the customer might purchase for their loved ones.
  • The person who receives the card is more than happy as he or she can buy anything from the store without any kind of specific consideration, as the gift cards provide them with an opportunity to buy whatever they like at the shopping or business store.

So, if the customers wish to give something special to their loved ones, then they should definitely purchase the gift card which is value for money loaded with various deals to enjoy from.

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