Gift cards have become the new gold standard for scammers. You might be wondering why. They’re quick and easy to buy, and once the card is drained, your chances of getting your money back are about as high as seeing snow in Lagos. The worst part? Scammers are hitting both buyers and sellers and if you’re not careful, you can also get scammed. But not to worry! By the time you’re done reading this, you’ll know how to spot these scammers and, more importantly, how to avoid falling into their trap.
How to Spot Gift Card Scammers Tricks as a Buyer
Whenever you’re trying to buy a gift card, maybe for a service or to send to a friend, and suddenly, you get an offer that looks too good to be true. Before you jump on it, here are the red flags to watch out for.
1. Suspiciously Cheap Deals
If you’re being offered a ₦100,000 gift card for as low as ₦30,000, alarm bells should be ringing in your head. Scammers know how to tempt you with a deal so good that you’ll forget all logic. They’ll say things like, “I need cash urgently” or “I’m selling it at a loss,” but trust me, the only thing you’ll lose is your money.
2. Fake Websites and Links
Scammers have gotten pretty good at creating fake websites that look almost identical to trusted platforms. You think you’re on a legit site, but the moment you input your card details, poof! Your money’s gone, and you’re left with an empty wallet and a fake promise.
3. Demands for Upfront Payment Without Proper Verification
Some fraudsters are slick. They’ll make the process look legitimate, even showing you receipts or screenshots of “unused” cards. But the moment you send payment, they disappear faster than your data balance after streaming TikTok.
How to Avoid Gift Card Scams as a Buyer
- Stick to buying gift cards from reliable sources. If someone approaches you online or via social media with a huge discount, walk away. Legit deals are never generous.
- Always double-check the URL of the website. Look for signs like HTTPS encryption (the padlock symbol) and be wary of any strange-looking web addresses. When in doubt, don’t click on random links. Stick to well-known and verified websites.
- Always verify who you’re dealing with before making any payment. If possible, use an escrow service that holds your money until you’re sure the gift card is valid. But it’s better to purchase your gift cards from trusted retailers or verified platforms to avoid any shady business.
How to Spot Gift Card Scammers Tricks as a Seller
Don’t you think you can’t get scammed even if you’re a seller. They know you’re eager to turn your gift card into naira, so they’ll try to catch you off guard with their sneaky tactics. Here’s how they do it;
- Fake Buyer Offering a Higher Price: If someone is offering to pay a ridiculously high price, higher than the market value of your card, you should be suspicious. It always sounds like a sweet deal because, they’ll use flattery, promise high returns, and then ghost you once you’ve handed over the card details.
- Request to send the gift card code first: One of the most common tricks is the scammer asking you to send your gift card code upfront “just to verify,” promising they’ll send payment after. Spoiler alert: they won’t. Once they have the code, they’re gone, and you’re left wondering why you trusted them.
- Fake Payment Proofs: Some scammers are bold. They’ll send you fake screenshots of bank transfers or alerts, hoping you’ll send the gift card code based on their “payment proof.” You think you’ve received the money, only to realize hours later that your bank balance hasn’t moved a kobo.
Also Read: Why Coast is the Best Platform for Trading Gift Cards
How to Avoid Gift Card Scam as a Seller
- Before selling your gift card, you should be aware of the market price so you won’t be swayed by over-generous offers from fake buyers. Stick to selling your gift cards at reasonable rates, and only to trusted buyers.
- Never send your gift card code before receiving payment. Always use trusted platforms like Coast where payment is secured before the code is released. Protect your gift card codes like they’re your ATM PINs.
- Always confirm payment in your bank account before releasing your gift card. Scammers are good at faking transfer receipts, but your actual bank balance doesn’t lie. No alert, no code. It’s as simple as that.
What to Do If You Get Scammed
If the worst happens and you realize you’ve been scammed, act quickly. Report the scam to the platform or bank involved, and block the scammer. It’s also worth spreading the word to prevent others from falling for the same trick.
Conclusion
Scammers are out to get both buyers and sellers. Whether you’re purchasing or offloading gift cards, always stay vigilant and don’t let the lure of easy money cloud your judgment.
To avoid falling victim, always deal with trusted individuals and platforms. For sellers, if you want to make sure you get proper value for your gift cards without worrying about scammers, consider selling to a reliable buyer like Coast. At Coast, you get the best market rates and ensure you get the best value for your gift cards without drama. And for buyers, stick to verified sellers and platforms where you can be sure you’re getting a legitimate card.
Remember: scammers are good, but you’re smarter. Stay one step ahead, and don’t let anyone make you the next “maga” in their dubious scheme. Keep your money safe, and keep the scammers out of business!
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