Visa gift cards are a great way to teach teenagers about money management. They also make great gifts, whether for a wedding, birthday, high school or college graduation. Visa gift cards are convenient and work just like debit cards. You can use them anywhere visa debit are accepted, including online. They can also be replaced if lost or stolen, which makes them better than giving cash. Visa gift cards are issued by participating banks for any amount between $5 – $500. You can also buy them at denominations of $25, $50, $100 and $200 at most drug and grocery stores.
However, like other bank issued gift cards, Visa gift cards come with fees, including purchase fees, which are typically $4.95, monthly maintenance fees (which are charged after 6 or 12 months of purchase), and replacement fees, among others. They also carry expiration dates.
Nonetheless, Visa gift cards are very popular, which shows that consumers are happy with the convenience they offer and see the fees as a trade off.