Activation Fees, Shipping, Lost or Stolen Card
(Effective June 8, 2022)
LEAF College Savings charges a small activation fee to the gift card purchaser just like prepaid debit gift cards from your local grocery store.
A LEAF gift card recipient, or their parent, can redeem the card on the LEAF website and transfer the full face value into any college savings 529 plan in the US for no additional fee.
LEAF cards can be gifted by email or printed right at your desk.
Redeemed LEAF gifts hold their value for one year (two years in some states) and then are subject to inactivity/dormancy fees as described below.
For answers to Frequently Asked Questions, please visit our FAQs About LEAF page.
Here is a complete list of activities and related LEAF Fees and a few important notes about unused, lost or stolen cards:
Gift Card Purchase/Activation
| Activity | Amount | Description | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Activation Fee if payment is made by Credit Card. |
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The amount of the processing fee depends on the value of your LEAF purchase. This fee is to cover the costs to provide the Account. | ||||||||||||||||||||||
| Activation Fee if payment is made by E-Check (an electronic representation of a paper check) |
|
This fee is to cover the costs to provide the Account. |
Purchase Options
| Activity | Amount | Description |
|---|---|---|
| Custom Photo | FREE | Upload your own photo to customize a virtual or physical gift card. |
Inactivity / Dormancy & Other Activities
| Activity | Amount | Description |
|---|---|---|
| Refunds | No Fee | If, within fourteen (14) calendar days of gift purchase, a purchaser requests a refund and the gift has not yet been redeemed, LEAF will refund the full face value and the issuance fee. For purchases of physical cards, if LEAF has not yet fulfilled the order, LEAF will also refund the shipping and handling fee. If, after fourteen (14) calendar days of gift purchase, a purchaser requests a refund and the gift has not yet been redeemed, LEAF will refund the full face value but not the issuance fee. Refunds can take up to ten (10) business days to process, depending on the type of request. |
| Unredeemed Card | Issuance Fee | If, after three months from the date of purchase or scheduled delivery (whichever is later), the gift is not redeemed, LEAF can refund the face value (not including the issuance fee) to the purchaser’s original payment method. |
| Redeemed Card / Inactivity | $5.00 after one year, $5.00 if funds are escheated by Bank |
For gift cards redeemed-but-not-transferred after one year LEAF on behalf of CBW will issue a check in the amount of the card value minus fees and mail it to the recipient’s known address. If after ninety (90) days the check is not cashed, CBW Bank will send the remaining value to the escheat / treasurer’s office of the state known for the recipient’s address. The bank will charge an inactivity fee of $5.00 at the end of one year, and an escheat fee of $5.00 if the check is not cashed. |
| Online Transaction History | FREE | You are not charged to view and print online statements. |
| Paper Transaction History | $3.95 | Printed transaction statements are not provided free of charge. You will be charged each time a paper Transaction History is mailed. Transaction Histories are mailed only upon request. |
What if the recipient doesn't redeem the gift card?
If, after three months from the date of purchase or scheduled delivery (whichever is later), the gift is not redeemed, LEAF can refund the face value (not including the issuance fee) to the purchaser’s original payment method.
What if the parent redeems the card but doesn’t transfer the funds to a 529 plan?
For gift cards redeemed-but-not-transferred after one year, LEAF on behalf of CBW will issue a check in the amount of the card value minus fees and mail it to the recipient’s known address.
If after ninety (90) days the check is not cashed, CBW Bank will send the remaining value to the escheat / treasurer’s office of the state known for the recipient’s address.
The bank will charge an inactivity fee of $5.00 at the end of one year, and an escheat fee of $5.00 if the check is not cashed.
What if the card is lost or stolen?
Please notify LEAF immediately upon discovery of a lost or stolen gift card. LEAF will replace the card at no charge except for a shipping and handling fee in the case of a physical card.
For answers to additional Frequently Asked Questions, please visit our FAQs About LEAF page.
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LEAF Gift Cards and Accounts issued by CBW Bank. Member FDIC.