Amazing Apps: Prepaid2Cash

There's a brand new app – and the only of its kind – that enables people to cash out Visa, Mastercard, Discover and Amex gift cards – simply by scanning them.

Prepaid2Cash, an established startup that just before the holiday weekend launched both itsiOS and Android apps to enable people to Cash for the value of the card is deposited directly into the consumer’s bank account (clears within 2-3 business days), or they can request a paper check to arrive as well.

Over $300 billion dollars in cards are issued every year and anywhere from 25-50 percent of them go unused (if you’re not math-ish that is anywhere from $75B - 150B left on the table).

While there are some companies that buy store gift cards (from retailers like Sephora, Home Depot, Game Stop etc.) Prepaid2Cash is the ONLY company that cashes out what is called “open loop” cards from the big network companies.

With the Prepaid2Cash app consumers can recover from holiday spending, offload cards they received as gifts and relish the following benefits:

·       Deposit in their bank to pay bills (or rent!) or save

·       Avoid the embarrassment and frustration as cash is universally accepted while many of the cards have restrictions and oftentimes diminishing values or expiration date.

·       Avoid the hassle of carrying your cards, remembering to use them or tracking unused balances

Prepaid2Cash charges a 7.5% processing fee, plus delivery ($1.50 for direct deposit, $2.50 for mailed check).

Here is a link to the calculator to determine how much money consumers will receive.