Scammers, who have been monitoring the number they lifted, will see the card go active and the funds loaded onto it, then promptly drain said funds.
Cash back is either redeemed as statement credit or sent as a check to the cardholder also no good.
Last, limit online balance look-ups to several per hour, maximum.When they are, transferring balances to another card or converting into cash by using a third-party redeemer drains the balances out.In order to make this card work, you can go to a retailer that will accept the Nike gift card and you buy your shoes or merchandise, Detective Lohman said.Finding a gift card is easy these days, with many places like supermarkets offering a variety of gift cards on carousels inside their stores.Scratch-off stickers for sale on Ebay; June 20, 2015.By being aware of how this fraud is committed, we can spot the scams and protect ourselves.Once a gift card with funds has been verified, the scammer will then sell the gift card account information.Some have already taken steps to curb this activity, from flagging individuals who make repeated returns to requiring ID for customers returning items to requiring that secondary markets report all cash-for-gift-card transactions to law enforcement.Note that the IRS does not initially contact people via social media, email or text messages.This can be varmax discount coupon done through a multitude of methods, including phishing, SQL injection, social engineering and accidental disclosure.Avoid in-store racks that easily expose the gift cards numbers and PIN.The mag stripe number is plain text and can be read with a mag stripe reader purchased for 15 from eBay or an electronics store.We pick the gift card we want, take it to the cashier, and indicate how much money we want to load on the card.The retailer has access to find out where the card was used, so these retailers are able to trace it, he said.Acquiring numbers in bulk, slightly more difficult, but much more rewarding, is to acquire gift card numbers in bulk from the issuers, merchant, reward redemption program, etc.If you get the card home and find it drained of funds, you may be able to recoup your losses by going to the merchant that sold the card or the store where the gift card is redeemable.Never buy gift cards from auction sites, because they might be counterfeit or stolen.Because gift cards work like credit cards or debit cards, each gift card has a number associated with it typically around 16 digits long.
Some gift cards, like loadable Visas, are contained inside a small package thats intended to keep the card secure.
Stealing numbers and cloning cards.
The PIN number on some gift cards appears to look protected with a silver strip, which is typically removed or scratched off by the merchant at the time of purchase.