Gift cards are extremely convenient but they’re not all the same. That’s obvious. There are gift cards for specific stores, restaurant gift cards, credit card gift cards that can be used anywhere, and gift cards to specific services that can be used at several locations nationwide. There’s also our personal favorite — local currency — that can be used at any participating local merchant including restaurants, spas, shops, and personal services.
With all these choices, how do you decide which gift card is best for your recipient?
Why Local Currency Beats Out Any Other Type of Gift Card
The ease of gift cards is that they can be purchased in multiple places, including online. They come in a variety of denominations to fit any budget and people can generally find something they like with it. But there are downsides about some gift cards that you should consider.
Limited buying to one place. Unless you know for sure the recipient loves the restaurant or store you’re giving, selecting an individual card issued by one spot is always risky. Local currency gives people a much broader choice of businesses and services.
Limited by denomination. Let’s say your gift card is a small token of thanks and you just want to give $5-10. That’s perfect for Starbucks or some sort of coffee shop but will not cover much at the movies or a restaurant. Local currency can be given in a number of denominations and can be used accordingly. You can give confidently without embarrassment.
Excessive fees. Credit card gift cards are wonderfully flexible and can be used anywhere the credit card is accepted. However, many of them have activation fees that add to your cost but not the recipient’s enjoyment. Avoid fees with local currency. It gives you the same flexibility of shopping at a number of spots at no additional cost.
No local benefit. Love to get two for ones? Or how about bonus points on your purchase? Local currency gives you a bonus — you buy a gift for someone, and your community benefits with more money staying in your area.
Learn more about local currency and all of its gift-giving benefits.
