Got some open-loop gift cards, sign up for a square account

Square, the mobile payments system that uses a small (yes, square) attachment for an iPhone, iPad, or Android phone to swipe credit cards for payment, appears to be an ideal device and system for draining your open-loop cards.  There is no monthly or annual fee, and swipes cost a flat 2.75%.  Account signup and approval seems to be pretty streamlined and at the end of the day, the money is transferred to your bank account.

It seems to be the perfect way to get the last few $$$ from your open-loop gift card.  Or better yet, drain them when you get them so they won’t drain themselves with fees once you forget about them.

Better yet, get Square and become the open-loop hero by helping all your friends drain their gift cards.


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