Wednesday, October 5, 2022

Can I Turn My Gift Card Into Cash

Examples Of How Much Cash Your Gift Cards Could Earn

How To Turn Visa Gift Card into Cash Using Paypal or Venmo | Transfer GiftCard Money to Bank Account

To help you determine the best place to sell your unwanted gift cards, weve compared several price estimates from popular stores. Heres how the five gift-card marketplaces stack up.

$21.25$21.25

*Note: Estimated exchange prices for Gameflip and Raise were based on the rates of digital gift cards currently listed and selling on their marketplaces, minus the applicable seller fees .

Sell Your Visa Gift Card For Cash

I hate these options out of most because you wont get 100% of your value, but with the right site, you could get up to 95% back. I would only consider this option if you dont have a PayPal/Venmo or you dont want to deal with the hassle of it.

To sell your Visa gift card for cash online, its relatively easy. Just head to one of the many sites Im about to mention, ask for a quote and then follow the prompts if you want to sell it to them.

In most cases, you can get your cash almost instant while some may have a 24-48 hour waiting period. You should know the terms before you sell them, however.

If interested, here are some websites that buy Visa gift cards:

Again, dont expect 100%. Instead, maybe 95% at most. For instance, I could get $22.50 for my $25 Visa gift card. You have to ask yourself if its worth it.

TIP: If you dont want to sell your Visa gift card, you can trade them on these platforms, too!

Can You Transfer A Visa Gift Card To The Cash App

You cant transfer a Visa gift card to the Cash App as this app doesnt allow gift cards to be used as a payment option. Instead, you have to find a way to convert the Visa gift card to cash and then add that as a balance to the Cash App.

Id particularly recommend checking out some of the options in this article on how to add the money from your Visa gift card to your PayPal account. This is because, from there, its very easy to add this amount to your Cash App account.

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Sell Your Gift Cards For Cash

Once youve officially made the decision to part ways with your gift card, there are plenty of official websites that can help you sell your gift cards to people who might actually want to use them.

Companies like Raise and CardCash let you sell gift cards for as much as 92 percent cash back. While you wont walk away with 100 percent of the value of the card, you can use these sites to turn old gift cards into cashwhich you can then use to buy whatever youd like.

Reputable gift card resale sites also ensure that your gift card transactions stay safe with money-back guarantees and fraud protection. Why is this important? Well, when youre weighing the pros and cons of selling a gift card via a resale site vs. selling directly to someone on social media, you need to consider all potential security issues. If you sell gift cards person-to-person, you could run into online scammers or people who take your gift cards without giving you your promised payment.

How We Make Money

Turn gift cards into cash with Coinstar Exchange Kiosks ...

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Check The Balance Of Your Gift Card

Even though the Gift Card Exchange machine will verify the balance of the gift card, youll want to know for yourself before accepting an offer. Plus, the kiosk will only accept gift cards with a balance minimum of $20. The easiest way to check the balance of your gift card is to look at the back of the card and either call the telephone number or go to the website listed.

Should You Liquidate Your Gift Card

When deciding whether or not to liquidate your Visa or Mastercard gift cards there are some factors to consider. First the pros of liquidation:

  • You have the cash in your hand or bank account
  • The full amount of the gift card can be used once exchanged for cash, after all, how often do you end up with a gift card with a few dollars left on it that never gets used?
  • Once you have the cash you can use it for whatever you need such as paying off debts, investing, or adding to a savings account or emergency fund
  • Cards often have expiry dates or may charge a fee if not used within a certain timeframe, once converted to cash you dont have to worry about this as cash doesnt expire

The pros of liquidating a gift card usually outweigh the cons. Sometimes keeping a gift card is best though. Here are the cons of liquidating a Visa or Mastercard gift card to help you make a balanced decision:

  • You get to spend the full balance as liquidating can mean losing part of the balance due to fees and other related costs
  • Can be time-consuming to find a workable liquidation solution

In the next section, you can read about some of the best ways to convert a gift card to cash. This will also highlight that sometimes you can lose out on the value of a gift card. Reasons for this include either having to pay a flat fee to convert the card or only receiving a percentage of the gift card value in return for exchange.

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How Much Do You Get For Gift Cards At Coinstar

Coinstar discontinued its gift-card-buying services at all Coinstar terminals. However, if youre using Coinstar to count your change, you can maximize your payout by choosing to accept payment by gift card. This option allows you to skirt the fees associated with cash payout.

Dana Sitar is a former branded content editor at The Penny Hoarder. Adam Hardy is a former staff writer for The Penny Hoarder who specializes in stories on the gig economy.

Add Gift Card To Paypal Wallet Online

How To Turn Gift Cards Into Cash Tutorial

A feature of using PayPal is the option to add Visa gift cards to your PayPal wallet. Once you have added the gift card to your wallet you can use the balance just like cash. This means you can make a purchase from any merchant that offers PayPal as a payment method. Most online retailers accept PayPal so you now have a huge range of retailers that you can use the gift card balance with.

Not only could you spend it like cash with merchants that accept PayPal, but as it is now cash there are other ways you can use the balance. You can transfer the money to your linked bank account or send the money to other PayPal users. Keep in mind that fees may apply of up to 3% when transferring money using PayPal.

How do you add a gift card through PayPal?

Adding a gift card through PayPal is extremely easy. You just have to follow 4 simple steps, they are:

  • Log in to your PayPal account.
  • At the top of the page click on Wallet
  • You should now see an option on the left-hand side that says, Link a card, click this option.
  • On the next screen fill in the gift card information and click add card

Thats it! In 4 easy steps, your gift card is now linked to your PayPal account and the balance can be used as cash.

If you do experience any problems adding the card such as an error message, contact the card issuer. Sometimes a card must be registered first to make sure the address matches. Once that is done there should be no trouble linking the card to your PayPal account.

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Buying Products To Resell

I know youve probably heard about this method, but if you havent, here is how it goes.

The technique not only offers you a chance to get cash out of your Visa gift card, but you can also make some extra money. In essence, its about taking advantage of great deals.

Platforms like PayPal allow you to pay for products through prepaid gift cards, and various retailers accept online payments.

Therefore, you can make an online or in-store purchase using Visa gift cards through PayPal.

If you spot a deal that is ideal for a product you can buy, you can do so and then resell the product at a profit or at a breakeven price to get your cash.

This can be a great option if you are able to get cheap deals for useful products that you can later resell.

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Easy Ways To Convert Gift Cards To Cash

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase or sign up through my links, at no cost to you. Please read my disclaimer for more info.

Do you have a Visa gift card that you wish to exchange for cash? Here are several easy methods you can use to convert gift cards to cash.

Visa gift cards are a great way of saving on shopping. Most are sold during promotions where stores offer incentives for shoppers to buy and use them. However, sometimes people need to convert a Visa gift card to cash.

Well, no cause for alarm.

If you wish to convert your gift cards to cash, there are numerous ways to do it.

In this article, we will explore the most feasible ways available to convert that Visa gift card to liquid cash.

But why would you want to convert your Visa card? Well, there are a number of reasons why someone may wish to do this.

If you are like me and check your net worth on Personal Capital daily, you likely think gift cards are a waste of time and space. Why carry virtual money when you can have cold hard cash to invest or pay down debt?

These Visa gift cards cannot be used to withdraw money at an ATM, which therefore makes them somewhat inflexible.

Preferred Method for Converting Plastiq

Our preferred method to use to convert a Visa card is with Plastiq. It’s completely free to join and you can pay for anything with credit cards. Even where credit cards aren’t accepted.

Free

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Give Them Out To Friends Instead Of Cash Or Gifts

If you get a Visa gift card there is nothing to prevent you from passing it on to others too. After all it is not in anybodys name so legally anyone can use it.

For example, if one of your friends is celebrating a birthday you can give them your Visa gift card as a birthday gift. IIn this way you will avoid the hassle of going to shops trying to look for things to buy. This is especially cool for a person like me who hates shopping.

I like giving people Visa gift cards rather than actual gifts as they allow the receiver to buy the things they really want. During birthdays people end up receiving gifts of things they already have. I remember during my wedding we received all sorts of things such as plates that we really did not need. I wish people had given me Visa gift cards instead.

Another advantage of sending Visa gift cards is the cost of sending them is much less than sending a shoe for instance.

Can I Return A Gift Card For Cash And How

Can I Get Cash Off My Visa Gift Card?

Have you found out that there is still a small balance on your gift card, but you dont feel like spending it on the retailers goods? We bet your first thought is to return it to the store and reclaim the unused cash. The bad news isthis isnt always so simple.

There are three possible scenarios, and they are listed in the following table:

Situation

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Proven Ways To Convert Visa Gifts Card To Cash

While its true that you cant simply go to an ATM and withdraw money from a gift card, there are still several ways on how to get cash from a Visa gift card.

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  • Perhaps you earned the gift card through survey sites and rewards programs, someone gave it to you last Christmas, or maybe you bought it yourself as part of a promotion. But this time, for whatever reason, you just want to have cold hard cash.

    Again, if thats the case, Ill be sharing some tested and proven ways on how to cash out Visa gift cards.

    Sell Gift Card On Raise App

    One way to convert a Visa gift card to cash is to use an app. There are many apps that buy the card from you, then resell it for a profit. This method can be a fast way of converting those Visa gift cards into cash.

    However, a word of caution to bear in mind. The fees involved can be high which means this method is best if no others are available or if you need the cash quickly.

    A great app to use is offered by Raise. The Raise app is available on App Store and Play Store. Once downloaded you can easily sell your gift cards, but Raise does take a 15% commission. When you sell a gift card on Raise you can get paid via PayPal, check, or straight into your bank account.

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    Turn Your Visa Gift Cards To Cash By Buying And Reselling Items

    This may take a few extra steps to do but it may be the only other option on this list that lets you make money from converting your Visa gift cards to cash .

    As mentioned, most stores treat Visa gift cards like credit cards. This means that you can generally use them to buy items at almost any store, so keep an eye out for things that are either heavily reduced or in high demand.

    In both cases, theres a good chance you may be able to resell the item at a higher price than what you paid. This, in turn, will let you eventually get cash from your gift card.

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    Convert Your Gift Card To Cash With Donotpay

    Turn Your Visa Gift Card Into Cash 2017

    DoNotPay always finds a way to make complicated processes simple!

    All you have to do to get cash for the remaining balance on your gift card is follow these steps:

  • in your web browser
  • Click on our Cash Back on Gift Cards product
  • Fill in your card details, such as vendor, date of purchase, and the remaining balance
  • We will send your claim to the nearest outlet for them to process. It doesnt matter if you dont live in a state with a cash back policywe will make sure your request is sent to an outlet where your cash back is required by law. You should get your money within 14 days.

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    A Few Tips About Giving Gift Cards

    Before long, youll likely turn from a gift recipient to a gift giver. Gift cards are one of the most requested holiday gifts each year, according to the National Retail Federation.

    Avoid placing your friends and family in a precarious gift card position by selecting your gifts carefully. Aside from opting for a store you know they like, here are some other trusty gift card tips from the Federal Trade Commission:

    • Take the financial situation of the retailer into account. If a business files for bankruptcy, the gift recipient may be left in limbo.

    • Give the receipt along with the gift card so the receiver has verification of the purchase.

    • Read the fine print. Check for expiration dates and fees.

    Pay Yourself With Square

    If youre a freelancer of sorts and accept credit cards, then I highly recommend a Square reader if you dont already have one. Its a great way to swipe credit cards and get paid on the spot.

    If you already have one or youre interested in one, the reader is free and lets you accept credit cards anywhere as long as you have your smartphone. Generally, you can get paid the next day.

    In this case, you could pay yourself with the gift cards full value, but you will have to pay a fee in doing so, usually 2.6% + $0.10. Nonetheless, its a quick way to get cash if need be, but I would only do so if you have the reader and use them consistently. If you sign up to do this, you may get a warning email.

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