You may have received or earned a Visa gift card and don’t know what to do with it. Perhaps you want to convert the card into cash so you can use it later or for other purchases? Show
According to Blackhawk Network, 42% of consumers use their gift cards right away. If you’re one of the 58% who wants to use it for later purchases, this article’s for you. We’ve found the best ways to transfer money from a visa gift card to your bank account and listed them in this article. You can find the most convenient and cheapest way to transfer your vanilla gift card balance to your bank account, so don’t skip this article. This way, you can avoid fees and lengthy processes. Without further ado, here are 10 ways to transfer money from a Visa gift card to your bank account easily. In this article
Method 1: Transfer visa gift card Balance to bank Account via PayPalYou can transfer a gift card balance to a bank account by using PayPal. By putting your card balance to PayPal, you’ll avoid forgetting your gift cards, especially if you have many of them. Here's how to link your gift card to your PayPal account:
After linking your gift card, you can choose it as a payment option. Also, PayPal will not collect any charges for this transaction. However, be sure to activate your Visa gift card beforehand to avoid experiencing any technical difficulties when you're paying with the card. To activate it, refer to the back of your card, so you know where to sign in. You can also call your gift card’s provider to activate it. Fortunately, some cards are automatically activated. So, you can use it immediately after receiving it. How to transfer gift card balance to bank account via Paypal:
And voila! You'll successfully transfer your vanilla visa gift card money to your bank account with these steps. Method 2: Transfer visa gift card to bank account via VenmoYou can also use Venmo to transfer money from your Visa gift card to your bank account. This method is free and lets you transfer your vanilla gift card to bank directly! Check out the following steps for the linking process:
When you've completed these steps, you can now choose it as a payment method when purchasing items. To deposit the money into your bank account, you need to choose the Standard and not the Instant Transfer options. When you select the Standard method, you can receive the money within three business days. Some users report that Venmo shows a warning message regarding fraud prevention. Other cards may also request a zip code connected to the gift card. If you experience those issues, you can contact the company at (855) 812-4430. You can also submit a request at Venmo Help Center. Method 3: Transfer Money From Gift Card To Bank Account via Prepaid2CashHere’s another method to deposit Visa gift cards to a bank account using Prepaid2Cash. While convenient, do note that Prepaid2Cash has a pretty high transaction fee for visa gift cards which you can find below.
It is, however, one of the more convenient methods on our list. If you'd like to try this method out, here's what you need to do.
After that, the money from your visa gift card will be transferred to your linked bank account within the period you opted for! Method 4: Transfer Visa Gift Card money to bank account via MoneyGramYou can also use MoneyGram to transfer the gift card balance to your bank account. This process is completely online, so you don’t need to commute to any MoneyGram branch.
You can expect the money to reflect on your account after a few minutes. But take note that MoneyGram collects a $1.99 fee if your transfer is less than $200. If you send more than $200, you’ll be charged 1% of the amount on top of the $1.99 fee. Method 5: Trade Gift Card for cash using a gift exchange kioskYou can also use an exchange kiosk to cash out the gift card, then deposit the money into your bank account. But first, where can you find these kiosks?
Note, though, that the availability of kiosks varies per location. It’s best to call a nearby store to make sure that they have a gift exchange kiosk. The kiosk looks like an ATM and is a self-service booth that you can easily operate.
Store: WalmartBalance: $50Card ending in xxxCash offer: $45
Usually, stores charge 15 to 40% of your gift card’s original amount. For example, if you have a $25 card, most retailers will offer a cashback of $21.25 or lower. Fortunately, some kiosks collect only 10%, so you can get $22.5 on a $25 gift card. But that’s the price of convenience since you can instantly get cash from your card. You don’t need to wait for days until you can deposit it into your bank account. Method 6: Buy A money order With Your Visa Gift CardSince a Visa gift card works like a debit card, you can use it to pay for money orders. You can avoid issues like bouncing checks and lost cash with money orders. Some stores that let you buy a money order with a gift card:
Take note that only some branches accept this mode of payment, so you need to contact the store first before buying a money order. You can check out these general steps on how to purchase one.
Remember to keep the purchase receipt, so you can contact the store if you experience any issues. You can now deposit the money order in your bank account. It’s free of charge since banks treat money orders like checks. You only need to present the money order, show proof of identity, and provide your account details. Method 7: Sell your Gift Card for CashSelling your gift card is a sure and convenient way to get money off your card. Once you sell your card, you'll get paid to your bank account or PayPal. The only catch is that you'll get a little less than the value of the gift card. Sell to another person directlyYou can offer the card to friends or family members who might need it. There’s no chance of being scammed with this method since you’re directly selling it to another person. Aside from offering it to friends, you can also use Craigslist and Facebook or any website that allows direct selling. Here’s how you can sell on Craigslist.
You can follow these steps when you prefer selling on Facebook.
After receiving the money from the buyer, you can already deposit it into your account. Wrapping Up: Fund your bank account through Visa gift cardsReceiving a gift card is a pleasant surprise, but you don’t need to spend it right away. You can save your gift card balance by transferring it to your bank account. Fortunately, there are many ways to do this: using PayPal, Venmo, Prepaid2Cash, money orders, and exchange kiosks. You can also sell your gift cards, either to a website or to another person. After that, you send the money to your account for later purchases or savings. It’s also easy to buy a money order, then deposit the check into your bank account. Through these tips and tricks, you can add money to your savings account. Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder. Can I transfer money from a Walmart Visa gift card to my bank account?You can link your gift card to PayPal, Venmo, or Cash App and forward the money to your bank account. This is the cheapest way to exchange gift cards for cash.
Can I transfer money from Walmart gift card to debit card?Can I transfer the balance or funds from my Gift Card to another Card or account? Funds on the Card are not transferable to another Card or account.
How do I turn Walmart gift card into cash?Gameflip is the simplest way to sell unwanted Walmart gift cards for cash. You can sell any unused, prepaid and non-reloadable gift cards on Gameflip. Popular gift cards on Gameflip are Steam cards, PSN, Xbox Live, Amazon, iTunes, and Google Play cards.
Can I cash out a Walmart gift card?Notwithstanding anything contained in these Terms and Conditions, Walmart plastic Gift Cards and eGift Cards (“Walmart Gift Cards”) are not returnable or refundable for cash except in states where required by law. Resale of Walmart Gift Cards is strictly prohibited.
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