Economy May Force Governments to Claim Unused Gift Cards

Dublin, California (EastBayDaily) — With gift cards being the number one gift exchange in America, billions of dollars go unclaimed in the form of unused gift cards., an online retailer of gift cards at discounted prices based out of Dublin California, has launched a buy back program that empowers individuals with the ability to get cash for any unwanted or unused gift cards.

GiftCardBin has developed a process that is not only secure, but is also exceptionally quick and convenient. GiftCardBin seeks to expand its reputation as a trusted online source by integrating the world’s most popular online payment system, Paypal.

New York is an example of a states effort to claim unused gift cards as unclaimed property. Growing deficits are forcing States to exhaust all and any potential resources. In 2008 under New York’s abandoned property fund, the state collected 9.6 million dollars in unredeemed gift cards.

Each year Americans spend about $65 billion in gift cards but $6.8 billion go unredeemed, according to research by TowerGroup, a financial-consulting firm.

“We are the resource that many didn’t know they had,” states COO, John Topete. “Many individuals hold on to gift cards simply because they don’t know their options. With the heightened awareness of unredeemed cards in America, we want to outreach individuals to let them know they can sell their unused gift cards for a good cash payout. It’s a win win.”

GiftCardBin continues to streamline its buy back process to cater to its users. GiftCardBin has recently launched a new, updated site that makes the process more refined and the content easily accessible and secure. For additional information about GiftCardBin, contact John Topete (925) 335-6651.


John Topete