Buying a store gift card is pretty easy. You simply pick the retailer and buy the card in the store or over the phone. Or you can buy an e-gift card online that’s e-mailed to you or your little nephew and can be used online or in stores. But there are a few issues you should consider before committing to a store card, which we’ll describe below.

Buying a bank-issued gift card requires a little more research. Terms and conditions vary widely, and information about these gift cards isn’t always easy to find. Be sure to confirm anything you’re told over the phone with information at the bank’s website. While you’re at the bank’s site, read over the frequently asked questions section (FAQ).

Consider these factors before you spring for a store or bank gift card:

• Age limits. Ask if the issuer prohibits owners under a specific age from using the card.

• Purchase fee. Find out if you’ll be charged a fee to buy the card.

• Expiration date. See if the card has an expiration date and what will happen to the balance when that date arrives.

• Maintenance fees. Ask the bank if there’s a fee charged after a period of 6-12 months. Also, see if there’s a fee if the card isn’t used for a period of time.

• Balances. Find out how a cardholder can check the balance left on cards. Some issuers offer a toll-free telephone number for inquiries. Also find out if the owner is charged for balance inquiries.

• Replacement rules. If a retailer-issued card is lost or stolen, see under what conditions the issuer will replace it—and if there’s a fee to do so. In most cases, the card must be registered by the cardholder, and a loss must be reported immediately. Save your receipt in case your little nephew needs to prove the card existed.

• Cash flip rule. Some stores and banks will let your little nephew exchange a card for cash. Ask if there are charges to make the swap.

• Renewal dates. Most stores do not charge a fee to buy a card. But some may require your little nephew to send it in to swap for a new one after a period of time. Ask if this is the case and if there’s a charge.

• Transaction fees. Some banks charge the card a small fee each time it is used.

• Transaction limitations. Ask the issuer where and when the card can’t be used. Some cards may not be valid in specific states.

• Wind-up limits. Ask what happens when there’s a tiny balance left. Some issuers won’t let the owner use the card for partial payment in stores or online.

If your little nephew gives you a gift card:

• Register. Some retailers won’t replace a lost or stolen card unless it’s registered.

• Expiration date. Call the issuer and find out when the card expires and what happens to the cash at that point. Jot the expiration date on the card if it doesn’t appear there already.

• Rules. Check the issuer’s website for all of the rules, fees and FAQs.

• Beefs. If your card was issued by a national bank and there’s a card problem the bank won’t address, file a complaint with the Office of the Comptroller of the Currency (click on "contact us").

• Retain. Hold onto the card after your last transaction. If you return merchandise, the retailer may require the card.