Content of the material
- Many Ways to Sell Gift Cards for Cash
- 5. Enter the Gift Card PIN
- How to transfer a Visa gift card to a bank account?
- Can you put a Visa gift card in your bank account?
- Can you withdraw cash from a prepaid Visa?
- Can I Sell Used Gift Cards or Get Cash Back?
- Trade your gift cards for cards you like better
- Can You Get Cash From A Vanilla Visa Gift Card?
- Get cash for gift cards from these places
- The bottom line
Many Ways to Sell Gift Cards for Cash
There are many ways to sell gift cards for cash. The most common way is to sell a gift card online to a gift card reseller that buys the unwanted gift card, sends payment to the seller and then resells the gift card to another customer. In addition to true resellers, there are also online sites that match gift card sellers up with gift card buyers, facilitating transactions without actually touching the cards.
One of the benefits of selling your gift card to an online reseller is that the cash back offer will generally be higher than any other method. The one drawback to using these sites, however, is that you’ll generally have to wait for payment to arrive. Depending on the reseller and payment method selected, you might wait a couple of days for a PayPal deposit or a few days for a check to arrive in the mail. Because the cashback offer is so good, however, I think online resellers are the best choice when you don’t mind waiting to get your money.
5. Enter the Gift Card PIN
Once you confirm the type of card you’re selling, you’ll be asked to enter additional information such as the Personal Identification Number (PIN) or Sequence Number on the back of the card.
How to transfer a Visa gift card to a bank account?
- The optimal solution is to set up an account with either PayPal or Venmo. You can transfer the funds directly, but it does take a few business days without fees.
- Opt for exchange kiosks, if you want immediate cash. The only downside to this method is finding a store that carries the machine and pays the cashback fees.
- Buying money orders with your gift card allows you to then liquidate it for cash right after.
- Sell your gift card on an app or webiste. Choose the option with the lowest fees for maximum cash.
- You can also pay your bills with your gift cards. If you have no use for a particular one, you can use these cards to cover your monthly bills.
Even in this day and age, cash is still a reliable source of payment. If you have a gift card but want to use a more traditional payment method, you can transfer Visa gift cards into cash via the above procedures. Now the next time you are given a Visa gift card, you turn that piece of plastic into dollar bills.
Can you put a Visa gift card in your bank account?
You can deposit a gift card to your bank account, although not directly. Visa gift cards are treated like Visa credit cards, meaning the balance isn’t transferable to an account.
However, as shown above, there are some roundabout ways to achieve this. For example, there are several options to transfer money from a gift card to your bank account via PayPal. All you do is follow the steps outlined above for getting the balance into your PayPal account and, from there, transfer that money to your bank account.
Keep reading to find out which specific options are available for this, if you’d prefer the money end up in your account rather than converting your Visa gift card to cash in hand.
Can you withdraw cash from a prepaid Visa?
You can withdraw cash from a prepaid Visa, with the card being treated the same way as any Visa debit card. This means that you can use the prepaid Visa to make purchases online or in-person, make bill payments and withdraw cash.
Just keep in mind that a prepaid Visa is different from a Visa gift card, with the latter being more restricted in terms of how you use them. While a Visa gift card can be used the same way as a prepaid Visa when it comes to making purchases, it’s usually isn’t possible to use a Visa gift card for ATM withdrawal or as cash back in a store.
Can I Sell Used Gift Cards or Get Cash Back?
Yes! Even if you used a gift card to purchase an item or two, you can sell it for cash, especially if there is still a lot of money on the card’s balance.
If the remaining balance is only a few dollars and you can’t purchase anything else with it, you probably won’t be able to sell it. You should contact the store and request cash back instead.
The law in some states dictates that retailers must give back the money when a gift card that’s under a certain balance. The balance limit varies from state to state. California currently has the highest limit—$10 per gift card.
Trade your gift cards for cards you like better
If you like having gift cards but just don’t like any of the gift cards you have, there’s always the option to swap your gift cards for cards to other stores.
CardCash, for instance, lets you trade in your gift cards for gift cards of the same value—or, in some cases, cards worth up to 7 percent more. When you use a site like CardCash to trade gift cards, not only are you making money on a gift card you otherwise wouldn’t use, but you might get a couple of extra dollars to spend at a store or restaurant where you’d actually like to treat yourself.
Can You Get Cash From A Vanilla Visa Gift Card?
The short answer is not exactly, but the longer answer is it depends on the method you use. Vanilla Visa gift cards are the more popular choice for consumers since it’s easy to use.
There is a difference between a Vanilla gift card and a prepaid reloadable one. The former cannot get cashback from local ATMs, while the latter does.
What you can do is use a Vanilla card to transfer to PayPal or Venmo. Remember they take any prepaid card from Visa, which includes these gift cards.
You can always check the balance to make sure everything is correct. It’s as good a method as any to ensure you can cash from a gift card without having to use the gift card itself.
You can also use exchange kiosks, although these might be in rare locations. The kiosks do take a fair amount of money from the fees, but they are the easiest method to get your cashback from the gift cards.
If you can find any nearby grocery store with this machine, I highly recommend doing so. It’s arguably one of the most dependable methods to transfer any Visa gift card to cash.
You can even sell to any merchant in the local market but beware of transaction fees. If you plan on selling a smaller card, the costs don’t really add up to anything noticeable.
Visa gift cards with more considerable sums lose a good chunk through fees, so be careful when you consider this option. These fees vary depending on the vendors themselves. If they are too expensive, I suggest not going through with it and choosing another method.
Get cash for gift cards from these places
By some estimates Americans end up leaving $1 billion (with a B) worth of store credit, via gift cards, unused because of gift cards they don’t want or can’t use. That’s just ridiculous. Imagine how much you could have bought–or cash you could have received–from these unused gift cards. That’s why I’m offering these three places you can go to get cash–or a gift card you actually do want–for your unwanted gift cards.
Like Raise, Giftcards.com is an online marketplace for buying gift cards at a discount. As far as selling gift cards and getting cash for gift cards you no longer want, Giftcards.com can do that, too.
The bottom line
Chances are, if you don’t use a gift card within the first few months of receiving the gift, you simply won’t use it all. That’s why it’s a good idea to know how to turn gift cards into cash, how to trade gift cards for cards you might actually use and how to get the most value out of a gift card that might otherwise sit unused in a desk drawer or an online account.
Rather than collect a stash of gift cards that are unwanted, find the method that works for you and turn the card into cash you will actually use.