Question 1

Can the credit on the card be replenished?

Accepted Answer

The balance can only be deposited on the card when it is initially purchased and the card is unusable when the balance is complete.

Question 2

Does a gift card has a chip and PIN number?

Accepted Answer

No, the card is chip-free and no PIN is provided. The card is used electronically by sliding its magnetic stripe into the retailer's pouch at the stores that allow magnetic stripe confirmation and signature.

Question 3

How is the card used?

Accepted Answer

Gift card is a traditional prepaid credit card that can be used at stores and online stores around the world that allow magnetic stripe verification and signature. The card can be used for online purchasing at retailers using the CVC code. Credit can be paid out at Íslandsbanki's cashier for a fee according to Íslandsbanki´s price list.

Question 4

How much does a gift Card cost?

Accepted Answer

Íslandsbanki's gift card costs 500 kr. but Íslandsbanki's customers receive a 50% discount. The fee is for the cost of issuing the card.

Question 5

Is it possible to max the balance of a gift card?

Accepted Answer

Íslandsbanki's gift card is a prepaid credit card. Each time the card is used an authorization for balance is tested and therefor the card balance can not be maxed.

Question 6

What do I do if I lose my gift card?

Accepted Answer

You call the Service center of Íslandsbanki (440 4000) and close the card. In order to close the card, it is necessary to know the card number and can prove that you are the right owner. Once the card is closed, the remaining card can be reissued on a new card.

Question 7

What happens when the card balance runs out?

Accepted Answer

When the total card balance is complete, the card can no longer be used as a payment method and the cardholder can safely discard the card. New balance cannot be placed on used gift card.

Question 8

What if you buy for a higher amount than the card balance allows?

Accepted Answer

It is important for the user to always know the card balance before using it. If the cardholder tries to buy for a higher amount than the gift card balance allows, the card will be rejected, even though there is a balance on it.

Question 9

What is the validity of the card?

Accepted Answer

Validity is always two years at a time. The card does not refresh automatically. After the card expires, the cardholder has three months to get the remaining card reissued on a new gift card according to Íslandsbanki's price list.

Question 10

Where can I view the balance and movement on the map?

Accepted Answer

The status of the card and where it has been used can be viewed at the top of this page or by scanning the QR code on the back of the card. Transactions will appear on the next business day. No account statements for the cards transactions are send home to cardholder.

Question 11

Who can buy Íslandsbanki gift card?

Accepted Answer

Íslandsbanki's customers can purchase gift cards.

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