Where To Sell Your Unwanted Gift Cards
The market has greatly consolidated in the last year. Most gift card websites now focus on selling cards at a discount or buying in bulk.
The two main sites that still buy unwanted gift cards from individuals are Raise and Cardpool and they have very different business models. Cardpool buys cards directly from consumers. Raise lets you list the cards you want to sell on their marketplace.
Add Visa Card To Your Paypal Wallet
PayPal is built to enable its users to transact entirely online for a fee. Normally, the service charges a fee that is equivalent to 3% of the transaction value.
Additionally, you can use prepaid Visa cards to send money through PayPal. What this means is that you can use your card balance to buy items from any merchant that accepts PayPal.
As such, you have the power to transfer money to your linked bank account or send it as a gift card to fellow PayPal users. Alternatively, you can sign up for apps such as Ibotta and earn free cashback that you can withdraw to your PayPal wallet- which is as good as cash.
Can Gift Cards Be Used To Launder Money
Yes, both store gift cards and prepaid cards have been used by criminals to launder money for the simple fact that they allow anonymity. Generally, these cards can be used to avoid causing laundering alerts.
For example, one can pre-load large amounts of money into a prepaid card and transfer small amounts into bank accounts a process known as smurfing. This is very common with drug traffickers and is obviously illegal.
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Can You Take Money Off A Gift Card
Sadly, probably not. You can’t simply take a gift card to an ATM machine and get cash immediately.
Why? Just for the simple fact that it is a gift card. However, there are plenty of options that you can do to get money in exchange for the value of the gift card.
You can likely get money off of a reloadable prepaid card. But that’s not the question. We are talking about gift cards. Based on our research, the best option to get cash in exchange for a gift card is to simply sell it for a discount instead.
Gift Card Guides: Can I Exchange A Gift Card For Another
Gift cards are a great option for those looking to give someone the perfect gift. Gift cardholders can purchase their favorite items without having to spend time searching through stores or scrolling through websites.
Gift cards also make it easy for people on your list with different tastes to buy what they want.
However, there is one question that many people have when receiving a gift card: can I exchange my gift card for another?
There are some limitations on this so this article will discuss which type of cards you can and cannot exchange as well as how you go about doing it.
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Hand Over The Gift Card To The Retailer
Handing over the gift card to the retailer is one of the better options to get your cash, but most retailers make the process too complicated. In various ways, they discourage people from using this option. Before returning a gift card to the issuer, understand the return policy of the issuer or you can request the person who gifted you to assist you with the receipt. Returning a gift card to a retailer will result in the following options.
- The retailer will exchange the gift card a lower value compared to the face value.
- You will be required to have the purchasing receipt while returning the gift card.
- The retailer can offer you an in-store credit. The disadvantage is that you will need to shop in their outlets.
How Coinstar Exchange Works
1. Visit your nearest Coinstar Exchange Kiosk in grocery stores near you.
2. Scan or swipe your gift card and accept their cash offer.
3. Verify your identity with your mobile number, drivers license or valid state-issued ID, credit/debit card, and email address.
4. Insert your gift card .
5. Print your voucher to redeem for cash at the in-store customer service center.
CoinstarExchange accepts gift cards from more than 150 stores and restaurants, and you can review the List of Accepted Gift Cards, which is updated on a regular basis.
You can sell more than 1 gift card at a time, and the kiosks are located in grocery stores where you already shop.
Please note that Coinstar Exchange kiosks operate during your local stores customer service hours, so that you can get immediate cash.
In addition, if you live in Boston, they are offering a special new online option to sell your gift cards and get cash today.
Take advantage of the new Coinstar Exchange to get instant cash for your gift cards at your local grocery stores.
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How Can I Cash In Change For Free
The best way to cash in change for free is to go to a bank that will do this for you. Not every bank offers this service, so make sure you call ahead to avoid having to carry a bunch of coins across town unnecessarily.
Some banks also require you to pre-roll the coins, which isnt so hard once you get the hang of it but can take some time to figure out. If youd rather avoid doing this, perhaps try contacting a few different banks before resigning yourself to an afternoon of wrestling with your spare change.
If you do want to attempt to do this yourself, figure out what value each roll of coins has to be, which is going to depend on the value of each individual coin. You can see the full list here.
So say you want a roll of dimes youre going to need 50 coins equalling $5. Do a stack of these and measure how long they are, then add around three to four inches on each end. This is how long each piece of paper is going to be.
Cut a bunch beforehand using some spare paper that you have lying around, as this is going to be easier than stopping and starting to cut more. From there, good luck! and maybe check a few YouTube videos beforehand to see the best, quickest, least frustrating way to do this.
Reddit Gift Card Exchange
- Official website: Reddit.com/r/giftcardexchange
While you might not think of Reddit as a place to sell stuff, you can trade your gift cards on there.
Theres a dedicated sub-Reddit, which weve linked to above, for selling and buying unwanted gift cards.
Simply create a post about your card, and set your price.
Then, simply wait for other users to respond.
In this sub-Reddit, users sell their cards, generally for cash via PayPal, or they exchange them for other gift cards.
All you need to get started on Reddit is an account, which is free to create.
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Remind Yourself How Much Is On Each Gift Card
If you were to look in my wallet right now, you would see a gift card in there. Written on the back in Sharpie is this: $12.80. Thats because the last time I went to that store and used my gift card, I wasnt buying enough stuff to use up the whole amount. The receipt told me I had $12.80 left on the gift card so I wrote it on the back. This simple gift card hack helps you remember how much is left on a gift card so you can use it up smartly.
While some retailers can handle the notion of partial purchases with gift cards, others cannot. And if you cant make a purchase for that $12.80, then using up the remaining balance could become a problem. Which is why using the entire amount on your gift card the first time youre using it can often be the best way to get the most from a gift card.
Giftcardbin: Good For Customer Satisfaction
Reasons to avoid
If the other companies we tested aren’t giving you the results you want, you might want to consider GiftCardBin. You can search by discount, store, category or your own favorites once you create an account. You can buy electronic or physical gift cards and if you choose the latter you can expect it in the mail within ten business days. Digital cards will appear in your account within two business days – longer than some promise.
You can also get vouchers printable at home and redeemable in-store for certain retailers. We saw discounts as high as 31% during our testing, which meant you could buy a $140 Lane Bryant card for less than $100. That said, youd need to be confident in making a large purchase for this deal to pay off.
We saw some impressive savings with GiftCardBin, so its worth signing up for alerts in case any of your favorite retailers crop up with a great deal. Whilst not accredited, an A+ BBB rating indicates a high level of customer satisfaction – one of the major perks of GiftCardBin in comparison with leading sites.
- Read our GiftCardBin review
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Online Gift Card Exchanges
If you have an unused gift card that you want to sell for cash, I recommend trying some of the online gift card exchange websites. This option could work out more conveniently and more lucrative than visiting a physical kiosk, depending on the cash offer you get.
Here are a few of the websites where you can exchange your gift cards for some cash.
What Is The Fee For The Coinstar Gift Card Exchange
The Coinstar gift card exchange rate is one-to-one when it comes to gift cards. That is, whatever the value of the coins you put into the kiosk is how much the gift card it gives you will be worth. There is, however, an 11.9% service fee for exchanging coins for notes.
This is pretty steep, especially as it means that if you deposit $100 of coins, youll lose almost $12 of this. This is why it can be a good idea to check for other options where you can cash in change for free.
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Sell Your Gift Card In Person
If you want to sell your gift card in person, rather than dealing with online gift card exchanges, you have a few options.
- Cardpool.com gift card kiosks: If you dont want to make your swap online, you can visit certain in-store kiosks, operated by Cardpool.com. These machines, once owned and operated by Coinstar, accept gift cards from more than 150 retailers and restaurants, as long as they have a balance of at least $15. The kiosk will make you an offer for the cardand if you accept the offer, you’ll get a voucher that you can redeem for cash at the register of the shop the kiosk is located in.
- Target trade-in: If you love shopping at Target, youll be pleased to know the big-box retailer will trade store credit for gift cards from more than 100 different retailers and restaurants through its own in-store exchange. Not all Target stores participate in the program, so you should check the website to see if your local store is part of the Target trade-in program.
Typically, in-store trade-ins offers lower resale returns than the online exchange marketplaces, says Hunter, but the payout is more immediate: Youve got to ask yourself if you value the dollar amount or convenience more.
Can You Exchange Gift Cards For Cash At Walmart
Are willing to pocket less than your gift cards worth? If so, then Walmart is worth looking at.
The retail giant offers a gift card trade-In Program under the Walmart exchange program. And through it, customers can get up to 97% of the original cards face value. The percentage is, however, not guaranteed due to the fluctuations in the trade-in value of different cards.
The exchange program does not apply to Walmart Gift Cards that are neither returnable nor refundable unless when required by the states law.
When purchasing a Visa gift card at Walmart its worth noting that you will be charged an activation fee on a sliding scale, depending on the cards value. For example, a $100 Vanilla Visa Gift Card costs you $5.44 extra.
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Cash Your Gift Card On Jour Cards Store
Are you struggling to find a simple route to exchange Visa cards for cash? Try Jour Cards Store. This is an online payment and games e-shop. The platform comes highly recommended with a 4.3-star rating on Trust Pilot.
They offer several services including the exchange of Visa gift cards for liquid cash. The store uses online currency through platforms such as PayPal and Bitcoins.
Jour Cards gives you 80% of the total value of your Visa Gift Card, and take the remaining 20% as commission. Before the deal goes through, the company tests your card for viability through their exchange department.
Jour Cards store will either wire your money to your e-wallet or account email. The whole process takes around 1 to 3 days.
Other Jour cards offers include steam wallet gift cards.
Sell Gift Cards For Paypal Instantly
You can sell gift cards for PayPal balance via Gift Card Granny, CardCash and Cash4GiftCardsAmerica. It usually takes one business day for your funds to deposit into your PayPal account. You can exchange as many gift cards as you want at once. Rates for gift card exchange value can differ from company to company depending on the gift cards demand.
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Sell Your Visa Card Through A Website
If you have a digital card, then the whole process can be instant. However, if you have is a physical card, some of these websites will send you prepaid postage that you can use to send in your card. This means that you wont end up spending any money on mailing.
And if you are wondering how you can email a gift card to a friend for free, sites like Gift Card Granny makes it easy for you.
When it comes to selling though, just like the apps, websites too cut a fee. So before agreeing to sell, make sure you not only know how much percentage they will take but also go through their user reviews for the best deals.
Sell Your Unused Gift Cards For Cash
There are websites available that will enable you to sell your gift cards for something very close to its face value. One such site is Cardpool.com. The site advertises that it will get you the highest price for your gift cards when you sell through the site. They also promise that they only work with the most reputable resellers to provide top-notch service and prompt payment.
Once on the site, you simply need to enter the merchant or store on your gift card to see which exchange site will offer you the most money. Just exactly how much you can sell a gift card for through the site will depend on the merchant .
For example, gift cards to a popular retailer like Target will fetch as much as $90 for a $100 card. But a $100 gift card to a much more highly specialized retailer, like Bass Pro Shops will get no more than $78.
Still another site where you can sell your unwanted gift cards is Gift Card Granny. There you can sell hundreds of popular gift cards, and providing you with the option to either redeem the proceeds by mail, or online.
The site advertises that the most popular gift cards can fetch as much as $92 , which is seriously close to the full face value, and they offer free shipping too.
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How We Found The Best Gift Card Exchange Websites
We went through every part of these gift card exchange websites to see how well they work and whether theyre worth your time. We bought gift cards from leading retailers and found out how much we could get in return for selling them. We also checked out how big the discounts were on cards available for purchase from top brands. When it was an option, we also downloaded the app to make sure it worked as advertised and while the majority of gift cards out there are digital, we also looked at shipping rates for shoppers looking for a physical gift card.
The number and variety of retailers you can buy gift cards on exchange websites changes all the time. Instead of trying to keep our thumb on how many individual retailers were available, we searched for three big players American Eagle, Macys and Walmart at the same time on the same day across all the websites we tested. We then assigned a letter grade corresponding to whether the website had cards available for purchase from those retailers.
We also used the Better Business Bureau to make sure these gift card exchange websites are legitimate. The BBB is a consumer watchdog group which assigns ratings A+ through F to companies based on information from business and customer complaints. These ratings arent a guarantee, but theyre helpful in seeing whether businesses and websites have had consistent problems or consumer complaints.