Importance

Loading Importance Indicators...

Abstract

A system and method for allowing a financial institution customer or user to exchange a stored value card, such as, for example, a gift card, for its value in currency or other value, such as rewards points, is provided. The resulting value from the exchange can then be deposited in a financial account, at the financial institution, of the customer's choosing. Following the exchange for value, the stored value card is cancelled to prevent subsequent use by the customer. The method may be performed on-line through the financial institution's website or mobile application, at an Automated Teller Machine (“ATM”), a financial transaction machine or device, or at a branch location of the financial institution. The physical card may not be required for the exchange. However, the data associated with the card, such as the account number, is required for entry by the customer into an appropriate interface.

Loading the Abstract Image...

First Claim