Gift Card Purchase & Activation Pricing

(Effective June 26, 2014)

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, Facebook, printed right at your desk, or delivered as a physical card.

LEAF charges a small fee for purchaser options such as the mailing of physical cards, which can be sent to the gift giver or the recipient.

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.
Purchase Amount Fee
$25 $2.95
$26-$50 $3.95
$51-$75 $4.95
$76-$100 $5.95
$101-$125 $6.95
$126-$150 $7.95
$151-$175 $8.95
$176-$200 $9.95
$201-$225 $10.95
$226-$250 $11.95
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)
Purchase Amount Fee
$25-$1,000 $2.95
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.
Physical Card
USPS First Class Mail®
$2.95 Physical gift card in LEAF or custom design using your own photo will be mailed to you or your recipient by USPS First Class Mail®- 3-6 days.
Physical Card
USPS Priority Mail®
$9.95 Physical gift card in LEAF or custom design using your own photo will be mailed to you or your recipient by USPS Priority Mail® - 2-3 days.
Physical Card
USPS Express Mail®
$24.95 Physical gift card in LEAF or custom design using your own photo will be mailed to you or your recipient by USPS Express Mail® - 1-2 days.

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. All refunds will be posted back to the payment method initially used.
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 will automatically refund the face value (not including the issuance fee) to the purchaser’s original payment method. Prior to the refund, LEAF may offer the purchaser by email the option to re-gift the original gift value to a new recipient and incur no new issuance fee.
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, during which time LEAF will send at least a reminder six (6) months from the date of dormancy and again thirty (30) days from dormancy, 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 will automatically refund the face value (not including the issuance fee) to the purchaser’s original payment method. Prior to the refund, LEAF will offer the purchaser by email the option to re-gift the original gift value to a new recipient and incur no new issuance fee.

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, during which time LEAF will send at least a reminder six (6) months from the date of dormancy and again thirty (30) days from dormancy, 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.