Check Cash Stores buy Gift Cards | 101 KXL

Check Cash Stores buy Gift Cards

Written by FM News 101 KXL on January 3, 2014

Check cashing and pay day loan stores are finding new business in gift cards.  Sandra Katz is the owner of Check Cash Pacific.  She has been buying gift cards for a few years, in response to customer demand.  She buys them for half the value and then sells them to a 3rd party in Sacramento, who then resells them.

Some people who work in retail don’t approve of this though.  Workers tell me that people are returning stolen merchandise for gift cards, and then selling the gift cards to the check cashing stores.  Katz says she is worried about illicit activity, but says she has safe guards in place.  She makes everyone show photo ID and has them sign a contract.  The contract states that the seller came in possession of the gift card legally.  If it was a gift, Katz makes the seller name who gave it to them.  Katz also limits gift card sales to $300 dollars per person, per month.

Not every check cashing store offers this service.

Posted Under: Local Headlines

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