Safer gift cards that you can spend in more than one place

With several big name shops having gone bust in recent years, gift cards have become a riskier present. But these cards offer a safer option.

Many people give a gift card at Christmas – after all it's an easy option. But the recent closures of big-name shops such as Woolworths and Jessops highlighted the dangers of giving gift cards that are only valid at one shop.

These shops either stopped accepting gift cards for good or during the early stages of going into administration, causing a lot of stress as people worried if they would lose their money.

So what can you do if you want to give a loved one a gift card, but without the risk of them suddenly being left unable to spend it?

One4all

The One4All gift card is one possible solution, although it comes with catches.

It's accepted at dozens of retailers in the UK. The website mentions “21,000 outlets”, but this number means every WH Smith shop, every Burton or B&Q store, and every branch of all the other retailers included on the scheme.

You can see a full list of retailers that accept the card on the One4all website.

The One4All card is issued by the Bank of Ireland and available from Post Office stores. You can order one online, though there’s a 99p fee if your order online.

There’s no expiry date, but from the 18th month following the purchase date a monthly charge will be deducted from the remaining balance. That charge currently stands at 90p.

The card can be bought in £1 denominations from £10 up to £400.

Love2shop

Another multi-retailer card is the Love2shop card. These can be spent at a range of retailers including Debenhams, Homebase, Matalan, Mothercare and Toys R Us.

You can see a full list of retailers on the Love2shop website.

The Love2shop cards come in £25, £50 or £100 denominations and delivery is free by first class post. You can also get them in paper voucher form.

BonusBonds

There are also BonusBonds. As with Love2shop, these come in both gift card and paper voucher form.

Gift cards are generally only available to corporate clients, though you can swap your vouchers for a gift card. There is a 10% fee for doing so though.

Be warned, the retailers you can spend your BonusBonds with vary depending on whether you have a gift card or voucher.

Retailers that accept BonusBonds include Argos, Moss, Boots, River Island and Top Shop.

BonusBonds come in £5 and £10 denominations, though that doesn’t include the VAT you’ll pay. You’ll also be charged a £2.95 delivery fee.

BonusBonds have an expiry date of up to two years from the date of issue.