Frequently Asked Questions
Q: What equipment do I need for your Prepaid Gift Card program?
A: Selling Agent: You only need a personal computer with internet access (according to certain specifications). BB&T Prepaid will supply 1 card swipe & receipt printer at no cost to you.
Merchants: NO SPECIAL EQUIPMENT NECESSARY to accept Prepaid Gift Cards; only need to be able to accept specified network of credit cards (Visa or Discover).
Q: What assurances are there that BB&T Prepaid will pay outstanding balances on cards?
A: BB&T Prepaid is a division of BB&T Financial, FSB, a subsidiary of BB&T Corporation (NYSE: BBT), the nation’s 8th largest depository firm and an FDIC-insured institution. This financial strength and stability insures that funds are safeguarded and will be available.
Q: What kinds of reports will my company have access to for my program?
A: Your company will have access to daily, monthly & annual sales reports, as well as monthly merchant redemption reports that show where the Prepaid Gift Cards are spent.
Q: How does a customer know a Prepaid Gift Card is from my company / property?
A: Your company / property logo is imprinted on the front of EVERY card, for maximum exposure and branding opportunity.
Q: What are some advantages of a Prepaid Gift Card program over a Gift Certificate program?
A:
A: Selling Agent: You only need a personal computer with internet access (according to certain specifications). BB&T Prepaid will supply 1 card swipe & receipt printer at no cost to you.
Merchants: NO SPECIAL EQUIPMENT NECESSARY to accept Prepaid Gift Cards; only need to be able to accept specified network of credit cards (Visa or Discover).
Q: What assurances are there that BB&T Prepaid will pay outstanding balances on cards?
A: BB&T Prepaid is a division of BB&T Financial, FSB, a subsidiary of BB&T Corporation (NYSE: BBT), the nation’s 8th largest depository firm and an FDIC-insured institution. This financial strength and stability insures that funds are safeguarded and will be available.
Q: What kinds of reports will my company have access to for my program?
A: Your company will have access to daily, monthly & annual sales reports, as well as monthly merchant redemption reports that show where the Prepaid Gift Cards are spent.
Q: How does a customer know a Prepaid Gift Card is from my company / property?
A: Your company / property logo is imprinted on the front of EVERY card, for maximum exposure and branding opportunity.
Q: What are some advantages of a Prepaid Gift Card program over a Gift Certificate program?
A:
- No more cash back for unredeemed funds! Dollars stay on the card.
- Redemptions reports show where funds are being spent.
- BB&T Prepaid handles abandoned property & escheat.
- Plastic cards are more durable than paper certificates.
- Cards are easier to carry & find than a folded piece of paper.
Q: What is a “closed-loop” Prepaid Gift Card & how does it work?
A: Our “closed-loop” Prepaid Gift Card is a stored value card that may be used to purchase merchandise or services from participating retailers only. It is redeemed by the merchant as a prepaid debit card and will be treated the same as a Discover Network Card.
This program is designed to keep money limited to specific merchants with no more expense than processing a normal credit card transaction.
Q: How are Prepaid Gift Cards redeemed?
A: Prepaid Gift Cards transactions are processed at the point-of-sale just like a credit card sale. An authorization is obtained via the specific network. Like with ALL Prepaid Gift Cards, the customer must know their balance.
Q: How can customer’s find out the remaining balance on a Prepaid Gift Card?
A: There are at least four ways to determine the available balance on your Prepaid Gift Card:
- Present your card to the staff where it was purchased / issued;
- Visit the network specific website for balance & transaction history;
- Check the authorization number on the receipt on your last purchase ( i.e. authorization code 001735 is $17.35 remaining balance);
- Call the toll-free number and follow the voice prompts (minimal fee applies).
Q: How much does your Prepaid Gift Card program cost?
A: The costs of our program vary. Some key factors in determining pricing include annual volume and average load per card. In some cases, our program can be a revenue source.
We work with your company to develop the right program to meet your specific goals and objectives. Please contact us today for more information and a full pricing proposal.
Q: How soon can we launch a Prepaid Gift Card program?
A: From a signed agreement to installation and training, we can have a program up and running in as little as 6 weeks.