Gift Vouchers

Gift vouchers and gift certificates are a form of scrip. They can be exchanged for products or services however they are not legal tender so can only be need only be accepted by the issuer of the gift vouchers. It can be used as a form of I owe you.

Gift vouchers are also popular because they can be used to ensure that the receiver purchases a luxury item rather than a necessity. This gives the giver more of a feeling that their gift will be noticed.

Gift Certificates

A negative issue with gift vouchers (or gift certificates as they are also known) is that unlike legal tender, they will only be accepted by a single or small number of retailers. On the other hand, giving cash as a gift provides the receiver with much more freedom to do as they wish.

One third of all gift certificates issued are believed to never be cashed in. To a retailer this is money for nothing, 100% profit. Consumers suffer with the money being given away from their end. The main reasons of vouchers not being used are when they are lost or forgotten about until after their expiry date.