Today I volunteered my time for an event and as a result the organizer decided to give everyone that participated a $25 prepaid credit card which was a nice gesture as I wasn’t really expecting anything. I was then reading the label on the card where there is about a $3.95 activation fee for this card. I was thinking how that is pretty high considering the actual amount in the card.
Usually people would do this to give presents as I suppose in many ways it’s weird to give cash. But would high fees to have the funds in a card make you think twice. Considering they must have gave it to at least ten people or so that’s actually a lot of extra expense too. Imagine if you were a business where it as a regular practice to buy these prepaid cards and you gave them away. That’s a pretty hefty expense.
I would be inclined to look at alternative ways to donate funds or even use digital donations. Even things as simple as PayPal doesn’t have that high of fees and is pretty straight forward. Is it too weird still nowadays to give like E-transfers as gift funds to save money?