Open Loop Gift Card

A single-use prepaid card that is purchased by a gift giver to give to a gift recipient. The recipient can use the card for the gift of their choice. They are accepted everywhere the card network is accepted including in-stores and online. In 2015, open-loop gift card loads totaled CAD$ 1.03 billion in Canada and the average load per card was CAD$ 83.

  • Spend them anywhere, even online. Open-loop gift cards can be used anywhere the card network is accepted, even online, so look for the best deals.

  • Check your balance easily. Gift cards allow you to check your balance by phone, text, or online. Check your card balance before you go shopping, so you know how much you can spend. The back of the card provides instructions on how to check the balance.

  • Look for personalization options. Many gift cards come with a variety of options for branding and packaging personalization, so you can give your friends and family a unique experience. Additional fees may apply.

  • Keep the card literature. Keep important information about your card in safe place, including terms and conditions, the website address, and the card’s expiration date and policy. Do not keep your PIN information with your card.

  • Report fraud or loss immediately. If the card is lost, stolen or used for purchases without authorization, it may be reissued and the funds can be replaced. Make sure to report any losses or unauthorized purchases to the customer service number immediately. You must register the gift card in order to take advantage of this benefit.

  • Choose a gift card as a safer option versus cash. Gift cards that carry the American Express, Mastercard, UnionPay or Visa logo are protected by the zero liability policies of the card brand, so unlike cash, if you lose your card or it is stolen, the funds can be reimbursed. Be sure to register your card in order to take advantage of this feature.