The holiday shopping frenzy is looming and since gift cards have been the most requested gift for the last nine years , many consumers will have them on their shopping lists this season. Just in time, Blackhawk Network has partnered with Stockpile, an innovative startup based in Palo Alto, Calif., to offer “Gift Cards for Stock” available at select U.S. retailers. This new prepaid gift card product can be redeemed online to open and fund a brokerage account with stock.
In a September 2015 poll of over 2,000 Americans commissioned by Blackhawk, we were surprised to learn that only 28 percent owned shares of U.S. stock primarily because they didn’t know how to buy it. Investing in the stock market can be confusing and intimidating and Gift Cards for Stock are an easy way for people of all ages to get involved.
As we approach the holidays, we think Gift Cards for Stock will appeal to consumers who want to give something more meaningful. It is an enriching and educational gift to teach someone about investing or dip their toe in the market for the first time. After all of the other holiday gifts are outgrown and overused, Gift Cards for Stock could be one of those standout gifts that keeps on giving beyond the holidays.
The gift card comes in fixed denominations of $25, $50 and $100, and may be redeemed for a variety of popular stocks or exchange traded funds (ETFs) such as the NASDAQ or S&P 500. When you redeem a Stockpile gift card and open a brokerage account, you get fractional shares of real stock that you choose.
This is how it works: