It’s official. The US Postal Service will start selling pre-paid gift cards starting in June 2011 at about 2,000 locations. They will only sell “open loop” gift cards issued by Visa, MasterCard, American Express, and Discover. These cards can be used anywhere the issuer’s cards are accepted. We originally blogged about this back in January 2011 and it’s exciting to see it come to fruition.
Cards will be issued in $25 and $50 denominations and will carry a purchase fee of $4.95. There will also be an option to by cards with variable amounts between $26 and $100 and those come with a fee of $5.95. All cards will have to be purchased at a counter from a clerk.
So, the next time you have a need to send a last minute gift, just to a participating post office, buy a prepaid gift card and mail it right there. How’s that for one stop shopping and mailing?