Is There A Limit To How Many Gift Cards I Can Buy?

What’s the maximum amount of gift cards you can buy? It’s a question that often confuses customers interested in purchasing multiple gift cards. Some retailers put limits on the amount and number of gift cards customers can purchase. We’ve compiled some common gift card limitations and how to get around them.

What’s The Limit On How Many Gift Cards I Can Purchase?

The maximum number of gift cards you can purchase will vary depending on the store. These limitations are often to deter gift card scams. Here’s a breakdown of a few common store people ask about.

Is There A Limit On How Many Gift Cards You Can Buy At Walmart?

There is no specific limit to the number of Walmart gift cards you can buy. However, like many retailers, Walmart has a maximum dollar amount that can be spent on gift cards in a single transaction. The maximum amount for Walmart gift cards is $1000. If customers would like to buy over $1000 in Walmart gift cards, they will need to sign up for a special bulk gift card account. The amount on an individual gift card is limited to $500 for Walmart gift cards.

Also, depending on the store location, stock availability, and store policies the exact limits on gift cards purchase may vary. Customers should contact their nearest Walmart store or check with store employees for a location’s specific policy. This will help avoid confusion at the register prior to purchasing. We should also mention that employees at a regular cash register may be unable to complete certain Walmart gift card purchases. Customer service often had more latitude for abnormal or unique purchases.

Is There A Limit On Target Gift Cards I Can Buy?

Like Walmart, Target’s gift card policy dictates that individual gift cards customers purchase from Target are limited to an amount of $500. There is also no maximum number of gift cards that can be purchased in a store transaction.

Based on our research, we believe the single transaction limit for Target gift cards to be $2,000. This means a customer looking to max out multiple gift cards would be allowed to purchase four $500 gift cards. This limitation is very relevant for frequent Target shoppers, as Target gift cards often sell at discounts during special promotions.

How many gift cards can you buy at once at CVS?

Customers attempting to buy any prepaid cards from CVS will be subject to a $2,000 limit per day. The company limits individual gift card amounts to $500. Customers also cannot purchase more than 10 prepaid cards in a day. CVS request that users who need to purchase more join the CVS corporate gift card program.

Is There A Federal Law Limiting Gift Card Purchases?

woman working cash register

When it comes to gift card purchase limits, the most relevant federal rule is the Prepaid Access Rule. The Prepaid Access Rule is a regulation issued by the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Department of the Treasury, that aims to prevent money laundering and other financial crimes by regulating the use of prepaid access devices, such as gift cards.

The rule requires that certain businesses, known as “issuers” of prepaid access, register with FinCEN and establish anti-money laundering programs. The rule also includes record-keeping and reporting requirements for transactions involving prepaid access.

The rule asks that “issuers” or companies create a policy that places a threshold of $10,000 as the maximum amount of prepaid access that may be sold to a single person or entity on a daily basis unless other special requirements are met. So if you’re purchasing gift cards over $10,000 per day it would be considered illegal. This threshold is put in place to prevent money laundering, and to make it more difficult for criminals to use prepaid access products to move and hide illegal proceeds. Tracing gift cards can be difficult and these rules help companies get ahead of fraud prevention efforts.

It’s important to note that most retailers will not sell gift cards in amounts above the threshold limit set by the Prepaid Access Rule, so it’s unlikely that an individual would need to be concerned about this rule when purchasing gift cards.

Why Buy Multiple Gift Cards?

You might be wondering why someone would go to a store and purchase several gift cards in a single transaction, but there are certain circumstances where this might be necessary.

  1. As a gift for multiple people: Someone might need to buy many gift cards as gifts for friends or family members. This could mean they need to purchase gift cards from different stores for varying amounts. Since they are prepaid cards, it makes them easy to transfer to others who can later redeem them. Buying gift cards in bulk is also a quick way to make progress on shopping during the holidays. The fact that you can send gift cards via email also makes them convenient gifts.
  2. To save money: Some people buy gift cards at a discount to save money on purchases they were planning to make anyway. If you always do grocery shopping at Target, buying discounted gift cards will allow you to save money long term. You would simply redeem the gift cards individually during your weekly shopping trips.

    Several websites in addition to stores sell discounted gift cards. While it can be simple to purchase online, buying in stores may be more convenient for some.
  3. As a budgeting tool: Some people use gift cards as a budgeting tool by pre-loading them with a set amount of money each month to use for specific expenses. This allows consumers a creative way to keep monthly spending in check.
  4. To gain rewards or benefits: Some credit card companies offer rewards or benefits when purchasing gift cards, so some people may buy multiple gift cards to take advantage of these perks. This is particularly popular with people that practice credit card churning.
  5. To use them as a fundraising tool: Some Non-Profit organizations and schools do fundraising by purchasing gift cards in bulk to resell at face value, hence raising money for the organization or school. Some companies also similarly buy a lot of gift cards to giveaway to employees.

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