Transfer The Balance Using Square
You can try using a company called Square to transfer a Visa gift card balance to your bank account. This method allows moving the entire gift card balance right into your account.
However, it may not work for everyone as the company Square has caught on and doesnt allow it. If you wanted to give this method a shot, there is an explanation here.
Buy Items On Sale And Resell
One cool way to liquidate Visa gift cards is to use them to buy some stuff that is on sale and reselling those items. I know of people who take advantage of Boxing day sales to buy things like clothes.
Just a few minutes of a Google search can alert you to some amazing deals that you can take advantage of. You can for example for words like, closing down sale, sale everything must go. And similar words to find bargains in your area.
It is then just a case of whether you have enough money in your Visa gift card to afford the goods being sold. You can then use that money on your card to buy something you can resell at a profit. I have seen sales that offer a 50 percent discount.
As a result, you will thereforenot only get cash but get even more money if you can resell at a profit.
I know some of you might not wantto follow this method as it is time-consuming.
However, the fact is that nothingcomes for free in this world.
If you want to do well in thisworld and make extra money you have to be willing to put in the time.
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Pay Your Bills With Visa Gift Card
You can also use your Visa gift card to pay your bills. This is a great option if you have a bill that you need to pay but dont have the cash on hand.
To do this, simply enter your gift card number and PIN when prompted. Youll then be able to choose how much you want to pay toward your bill.
The service provider should accept visa gift cards and keep in mind that there may be a fee for using your gift card to pay bills.
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How To Swap An Unwanted Gift Card For Cash
- Americans are expected to spend close to $30 billion on gift cards this holiday season, according to the National Retail Federation.
- However, many of these cards will end up either unused or hawked online.
- Here’s how to make sure you get the most out of the hottest gift of the season.
The hottest gift of the season could also be the least used.
For the 12th year running, gift cards remain the most popular items on wish lists, according to the National Retail Federation’s annual holiday report.
Gift cards topped all other potential presents, including jewelry, clothing, books, movies, music, electronics and sporting goods. The NRF polled more than 7,000 adults in October. The survey has a margin of error of 1.2 percentage points.
Altogether, Americans are expected to spend close to $30 billion on gift cards alone this holiday season, buying four cards, on average, with each worth about $49, the NRF also found.
However, many of those cards will end up either unused or hawked online.
Despite gift cards being the most desired Christmas and holiday present year after year, Dec. 26is, according to Cardpool, typically the company’s single busiest day of the year for unloading unused cards.
The problem arises when recipients don’t get the exact gift card they wanted, said Mike Jack, the general manager of Cardpool.
More from Personal Finance:
How To Convert A Visa Gift Card To Cash
Wondering how to convert a Visa gift card to cash? Read our tips for making the most out of an unwanted present.
Kaite just got a $100 Visa gift card for a graduation present. While shes appreciative of the gift, shed much rather have cash than a prepaid plastic card.
This is a common issue that Visa gift card holders often face. Fortunately, when it comes to converting your reloadable Visa gift card to cash, there are plenty of options.
Keep reading to learn how to liquidate a Visa gift card and change it to cold, hard cash.
In This Article
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Sell The Visa Gift Card Online
In addition to Raise.com, there are some additional sites that you can sell your Visa gift cards on. Check out the sites below.
- Gift Card Granny: This site has been seen in places such as Forbes, NBC, and Oprah Magazine. On this site, you can sell your unwanted gift cards, and its not limited to just Visa gift cards. You can sell any type of gift card from stores you may have laying around your house. to check out Gift Card Granny.
- Gift Cash: Like Gift Card Granny, this site lets people sell their unwanted gift cards and send them payment for it. This site is great because they are constantly updating their list of accepted merchants. So if you happen to have a gift card that isnt on their list, you can just let them know and they will look into adding them to the list.
- Card Cash: With Card Cash, you can sell your gift cards on this site or buy discount gift cards to save money quickly.
- Game Flip:Game Flipis another site where you can sell unwanted and non-reloadable gift cards to earn cash.
Use Your Visa Gift Card To Buy Other Merchants Gift Cards
If theres a particular store you shop at that doesnt accept your Visa gift card for purchases, you can use this card to buy a gift card from the store where you want to buy something.
And if you look online, you can sometimes find these for sale for up to 20% off meaning youre getting 20% of the Visa gift card balance for free.
This could include stores like Amazon, Walmart or even Starbucks if you were planning to convert your Visa gift cards to cash simply to get a caffeine hit.
Alternatively, you could earn gift cards to all these stores and dozens more just by signing up for an app like Swagbucks. Its basically like earning free coffees from procrastinating on your phone!
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Write Down The Starting Balance
Its a good idea to write down the starting balance of the card so you have an idea of how much youre working with before using it.
This is important because you dont want to get into a situation where the card gets declined by charging too much to it.
For example, you may be in a rush to buy a train ticket or out to eat at a restaurant. Always know the approximate balance of the card so that you can budget accordingly and avoid a potentially embarrassing situation.
Regift The Visa Gift Card
If youve ruled out all of the other options above, it may be time to think about regifting. If you were going to spend money buying a friend or family member a gift anyway, you can instead gift them your gift card instead.
Just make sure you remove any identifying information that shows it was initially a gift FOR you to avoid potential awkwardness.
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Transfer The Amount To Venmo
Similar to the PayPal option, you can also exchange your Visa gift card for cash using Venmo.
If you have a Venmo account then you can add your Visa gift card to your Venmo balance and either use it as cash through Venmo or transfer the cash to your bank account.
In fact, using Venmo is better than PayPal when cashing out to your bank account because with Venmo you dont have to pay fees as you do with PayPal!
Just add your Visa gift cards to Venmo and then transfer the balance to your bank account, its that easy.
This is one of my favorite methods to use to exchange Visa gift cards for cash! You do need a Venmo account but its free so definitely consider using this method.
Should You Convert Visa Gift Cards To Cash
You should ask yourself whether you should even convert your Visa gift card to cash or not.
In many cases, Visa gift cards are just as good as cash because any store that accepts debit or credit cards most likely accepts Visa gift cards as well.
So it might not be worth it to convert Visa gift cards to cash because most of the time when you convert the gift card, you will get less in cash than the gift card is worth.
A few reasons why you would exchange a Visa gift card for cash are if the gift card is expiring or if you want to save the money instead of spending it, and if you desperately need hard cash.
With that said, lets check out the best ways you can convert your Visa gift cards to cash.
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Sell Your Visa Card To Other People
There are always people around you who are willing to buy gift cards cheaply. And through this, you will have evaded the commissions incurred in online exchanges.
That said, you probably have to accept less than the balance on your card for people to buy your card.
Additionally, if you are going to sell a physical card to a buyer who is far from your location, keep in mind the shipping cost.
Start by check out sites like Craigslist or eBay for such arrangements, and ensure due diligence to avoid scammers.
Buy Gas With Visa Gift Card
If you need to buy gas, you can actually use your visa gift card. This is a great option if you have a visa gift card with a high balance.
To do this, simply find a gas station that accepts visa gift cards and then pay for your gas with your card. Keep in mind that some gas stations may have a limit on how much you can spend.
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Make A Purchase With Visa Gift Card
You can also use your Visa gift card as payment toward a purchase.
This is a great way to get rid of an unwanted gift card and buy something that you actually want or need.
To do this, simply find a website that accepts Visa gift cards and enter your card information when prompted.
Select the gift card as your payment method when prompted during checkout. Youll then enter the gift card number and PIN to complete the purchase.
How Is My Visa Gift Card Different From A Store Gift Card Or Gift Certificate
Unlike store gift cards or gift certificates, the Visa gift card enables you to choose where you spend the money on your card. You are not limited to just one store. You can use it at any store or online retailer that accepts Visa Debit.
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Benefiting From Your Gift Card In Other Ways
Add It To Your Paypal Wallet
Another way to convert Visa gift cards to cash is with PayPal. That is, PayPal lets you add prepaid cards, including Visa gift cards, to your PayPal wallet. What this means is that youre then able to treat the balance like cash, by using it to purchase things from any merchant that accepts PayPal which is most major ones, these days.
How can I get money off of a gift card through PayPal?
To get money off a Visa gift card to a PayPal account, just do the following:
Theres a chance that you may get an error when trying to do this. If that happens to you, you may have to first register the card with the issuer so an address is linked to the Visa gift card. After that, PayPal should have no problem accepting it.
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Pay Your Bills With Your Gift Card
Here is an interesting method you can try. While you arent necessarily exchanging the card for stacks of dollar bills, you are still using it the same way. As long as there is money on the card, you can use Visa gift cards to pay for your bills.
Visa gift cards are usually set up like a debit card with a card number, expiration date, and security code number on the back. The main difference is that the cards have a set amount of money programmed onto them instead of being linked to a bank account.
This makes it easy to pay your bills directly with a Visa gift card that you cant with pretty much any other gift card. So if you have a water bill or phone bill coming up, pay it with your Visa gift card instead.
Most people dont think of using their gift cards for bill payment, but it has multiple benefits. For starters, you can make quick use of your gift card.
If youre running low on credit, you can also use the gift card instead. Its a convenient way to use these gift cards in the same vein as cash.
Try Visa Gift Card Cash Back
If you have a Visa card and are wondering if you can get hard cash from it, the simple answer is probably not. Withdrawing from an ATM requires you to key in your PIN .
And, because Visa gift cards do not have PINs, then you cannot get a cash advance on a visa gift card. Only prepaid cards can be used to get cash from an ATM or to claim cashback offers.
However, depending on a stores rules, you can go for cash back. Simply purchase using your gift card and return the item for cash. I have to warn you though, not many stores support this and you may be found in contravention of return policies.
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Transferring The Gift Card Balance
Why Would A Website Give Out Free Gift Cards
Before I get into my list of the 12 top ways to earn free Visa gift cards, lets talk a little bit about the types of sites that are offering these prizes.
Survey sites and other market research platforms provide a simple service to businesses: they collect data about their consumers, so that brands can improve their marketing and promotional strategies.
To gather that data, they ask regular people to answer survey questions and complete other simple tasks. In exchange, theyll reward you with cash or prizes including pre-paid Visa gift cards.
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