Buying Disney gift cards with a Target gift card?

[DisneyBliss7]

I've heard conflicting answer's about this.. Can I use a Target gift card to purchase a Disney Gift card?

 

[happ]

I've heard conflicting answer's about this.. Can I use a Target gift card to purchase a Disney Gift card?

Not anymore.

 

[MrPTato]

No...I tried yesterday at self check out...no go.

 

[GreatLakes]

Nope. Buying gift cards with gift cards will be harder everywhere in coming months as FinCEN starts to more strictly enforce their rulings on pre-paid closed loop access.

 

[jujubiee4]

Nope Deal is dead.

 

[lynnzrae]

Nope. Buying gift cards with gift cards will be harder everywhere in coming months as FinCEN starts to more strictly enforce their rulings on pre-paid closed loop access.

Hi. I have never heard of this before and do t quite understand. Can you please explain a little more?

 

[Marionnette]

Hi. I have never heard of this before and do t quite understand. Can you please explain a little more?

People would acquire Target GCs cheaply, either thru rewards programs, CC points or on websites where GCs are resold for less than face value. They would then use those Target GCs to purchase Disney GCs. In the end, they would end up paying >5% less for their Disney trip by using this method.

You can still use a Target credit or debit card to buy Disney GCs and get 5% off the purchase price.

 

[lynnzrae]

People would acquire Target GCs cheaply, either thru rewards programs, CC points or on websites where GCs are resold for less than face value. They would then use those Target GCs to purchase Disney GCs. In the end, they would end up paying >5% less for their Disney trip by using this method.

You can still use a Target credit or debit card to buy Disney GCs and get 5% off the purchase price.

Thanks. I meant I have not heard of fincen being more strict on enforcing their rulings in pre-paid closed loop access. Sorry I was unclear.

 

[GreatLakes]

Hi. I have never heard of this before and do t quite understand. Can you please explain a little more?

I'm not an attorney but my job responsibility does over overlap the payment and plastics space for my company. In short, FinCEN deals with financial crimes and fraud. Gift cards are considered pre-paid closed loop transactions and are booked as liabilities. We have had briefings related to a ruling made by them way back in 2010 about using these funds to purchase further pre-paid closed loop transactions. The ruling, as with many of their rulings, leaves a lot of room for interpretation but our interpretation is that the funds should be used only to purchase goods of real value or, in our case, POS transactions and not transferred to a different pre-paid closed loop liability. It is for both accounting fraud reasons as well as money laundering reasons. The latter is aimed at pre-paid credit cards but can be applied to any gift card booked as a liability.

This all came from our in-house attorney that is in charge of risk and compliance.

 

[lynnzrae]

I'm not an attorney but my job responsibility does over overlap the payment and plastics space for my company. In short, FinCEN deals with financial crimes and fraud. Gift cards are considered pre-paid closed loop transactions and are booked as liabilities. We have had briefings related to a ruling made by them way back in 2010 about using these funds to purchase further pre-paid closed loop transactions. The ruling, as with many of their rulings, leaves a lot of room for interpretation but our interpretation is that the funds should be used only to purchase goods of real value or, in our case, POS transactions and not transferred to a different pre-paid closed loop liability. It is for both accounting fraud reasons as well as money laundering reasons. The latter is aimed at pre-paid credit cards but can be applied to any gift card booked as a liability.

This all came from our in-house attorney that is in charge of risk and compliance.

very helpful and interesting. Thank you. Are there new changes coming to make you think all companies will stop doing this?

 

[GreatLakes]

very helpful and interesting. Thank you. Are there new changes coming to make you think all companies will stop doing this?

I suspect other companies that offer gift cards had the same meeting we had. I can't remember what exactly it was that kicked this off but all of the card networks we interact with have had policy changes around this issue.

Ours is strictly related to FinCEN and financial crimes but I suspect there's a little bit of want in retail to move actual inventory with their gift cards so this may be a justification for them.

 

[CouponGirl]

I've heard conflicting answer's about this.. Can I use a Target gift card to purchase a Disney Gift card?

The conflicting answers may be due to the fact that (in store) you can pay for a portion of a transaction using a gift card if you purchased additional merchandise outside of 3rd party gift cards that meets or exceeds the amount you have on your target gift card. The register views this as using the gift card for purchasing the physical merchandise. Purchasing only a gift card with a gift card is a no go.

 

[DisneyBliss7]

Thanks for all the info!

 

[disneyfanforlife68]

I bought a gift card with a red card last Thursday and did not get 5% off. They said they no longer do the discount on gift cards.

 

[SL6827]

I bought a gift card with a red card last Thursday and did not get 5% off. They said they no longer do the discount on gift cards.

Ughhhhhhhhhhhh!!!

 

[Marionnette]

I bought a gift card with a red card last Thursday and did not get 5% off. They said they no longer do the discount on gift cards.

Hmmm..it still works online.

 

[miztressuz]

I bought a gift card with a red card last Thursday and did not get 5% off. They said they no longer do the discount on gift cards.

That's just weird, they're still advertising it as a perk of the RedCard: https://www.target.com/c/redcard/-/N-4tfyn
(and I love that they use the Disney GC as the image for the perk)

What GC did you buy? Did you get any free target GC's on the same order (perhaps in the same amount of the GC you bought)?

 

[disneyfanforlife68]

That's just weird, they're still advertising it as a perk of the RedCard: https://www.target.com/c/redcard/-/N-4tfyn
(and I love that they use the Disney GC as the image for the perk)

What GC did you buy? Did you get any free target GC's on the same order (perhaps in the same amount of the GC you bought)?

We just got some groceries and the card. No other gift certificates. I have my receipt I plan to ask next time I am there.

 

[WIll C]

You may not be able to buy Target gift cards and get 5% off. As of last May, you could still get 5% off the Disney GCs. I'll have to try online and see with the $100 ones.

 

[miztressuz]

You may not be able to buy Target gift cards and get 5% off. As of last May, you could still get 5% off the Disney GCs. I'll have to try online and see with the $100 ones.

You never could get the 5% off Target gift cards, that has always been excluded. Same with the visa/mc/amex gift cards. Anything else listed as a Specialty gift card gets the discount.