Sell unwanted Christmas gift cards with Zeek – or get 10% cashback if you buy some

We did an article on Zeek, the online giftcard marketplace, a few weeks ago.  I thought it was worth another mention today as you may have received some gift cards for Christmas which you honestly can’t see yourself using.

Zeek is a platform where you can buy and sell gift cards, helping you save money and turning unwanted gift cards into cash.

How does it work?

Let’s say Auntie Charlie gave you a New Look gift card for Christmas but you prefer Zara.  Instead of putting your gift card in a drawer – and then forgetting about it leading to the gift card expiring – you can take your New Look gift card and stick it on Zeek.

You will get some money for it and can then use this money to buy a discounted Zara gift card instead, or simply withdraw the cash to your bank account.  The site claims that 94% of gift cards listed are sold within a day.

You need to create a Zeek account with your email, Facebook or Google account before buying or selling gift cards.  You will need to verify your phone number before your account is opened.

You can sell unwanted gift cards via this page.

You can set your own price as long as it’s at least 8% off the face value.

You will be charged a processing fee of 7% with a minimum fee of £3.

You can buy discounted gift cards via this page.  Until the end of today (28th December) Zeek will give you £10 back in Zeek credit for every £100 you spend details are on the home page here.

On the buy a gift card page you can find a list of all available gift cards.  You can choose between in-store and online cards as well as whether you want a printable voucher, physical gift card or eGift card.

Refer a friend

If you find Zeek useful, it is easy to refer your friends and pick up £5 each after their first purchase using your promo code.

You can find out more about ZEEK here.  This could be a chance to turn your unwanted Christmas gift into something useful!

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Comments

  1. Why would I want to pay £98 for a £100 voucher..? Not exactly earth shattering.

  2. Anika you’ve inspired me to give this a go. I usually sell any gift cards I have on eBay which works well so I’d be interested if this site attracts different buyers and/or is a smoother process from listing to payment.

    I’ve listed a gift card that has a £20 value and I had to list with the minimum 8% off. My payment options were £15.00 bank transfer (interesting that they round down payments so the effective 7%/£3 fee can be more) or £18.00 Zeek credit. I’ve opted for the credit and will probably just get a gift card for somewhere I shop at anyway.

    Frankly a 25% fee from face value to the vank transfer offer does not seem like a great deal so at the moment I’m not seeing any advantage vs. eBay.

    Let’s see if I’m in the 94% that sell in one day!

    • eBay gift card prices are artificially inflated for 3 reasons:

      a) laundering of money in PayPal which the recipient does not want to pass though a bank account – in these scenarios, overpaying for a gift card is seen as a cost of doing business

      b) eBay sends a lot of coupons to lapsed buyers, eg get £10 off a £20 purchase. In these scenarios it is worth paying above face for a gift card – I did this once.

      c) occasional Nectar promos offering 1p per Nectar point if used on eBay. Given the usual 0.5p value it is worth converting to eBay and marginally overpaying for a gift card – you still get well over 0.5p

      • …all of which surely points to selling your gift cards on eBay as you will make more money than selling them on Zeek.

        I never thought I would say that PayPal is good value for anything! Perhaps in this case though. it is better value than using Zeek.

        Still a rip off though, it’s a shame PayPal is not covered by the 0.3% interchange fee cap.