What Visa Gift Cards Can Be Used At An Atm
If you currently have a Visa gift card and want to know if you can use it directly at an ATM, the short answer is no. Because these types of gift cards are coded to be used in stores or at restaurants, you cant directly get money from an ATM from them.
You can, however, use some of the methods listed in this post such as selling the gift cards for cash on places such as Facebook Marketplace or Gift Card Granny.
Four: Link Your Bank Account To The Prepaid Card By Providing The Routing Number And Account Number Of Your Bank Account
To perform the transfer, most prepaid card providers will ask you to link your bank account by entering your bank accounts routing number and account number.
Your routing number is a 9 digit number that tells you where your bank account was opened. One place to search for it is at the bottom of your checkbook.
Its also known as your ABA or RTN number.
Make sure you have this ready. If you dont have the routing number of your bank account, check with your banks website.
Most banks have a page where all their routing numbers are listed. Have a look at U.S. Banks website for example.
Buy Other Merchants Gift Cards
Sometimes the easiest way to convert your generic Visa gift card is to buy a new gift card at a merchant you use and love. You can make your gift card go further if youre able to find a gift card sale.
Some gift card deals let you save 20% or more on a gift card. This means that you could buy a $100 gift card for $80.
Amazon is a retailer that often has gift card deals. If youre a Prime member, you can double or triple up your benefits by combining it with these Prime money-saving secrets.
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How To Get Cash From A Vanilla Visa Gift Card
While you cant get cash from a Vanilla Visa gift card directly, you have options like selling the gift card either online or in person or having the money transferred to your PayPal account. You will then receive money in exchange for the gift card.
That is, much like the other cards in this article, you cant transfer money or withdraw money from your Vanilla Visa gift card. However, there are several workarounds available.
In fact, the process of how to get cash from a Vanilla Visa gift card is the same as how to convert any Visa gift card to cash, allowing you to use the balance in exactly the same way as cash. Check out some of the options earlier in this article to see which one may work best for you.
Add It To Your Venmo Account
Similar to PayPal, you can convert your Visa gift card to cash via Venmo by putting your gift card balance on your Venmo account. And this is actually a better option than PayPal if you were planning to transfer the money to your own account as cold, hard cash.
This is because Venmo doesnt charge any fee to transfer money from your Venmo account to your bank account, unless you select the Instant Transfer option. Otherwise, the money should arrive in your account within one to three business days.
To do this, go into the Venmo app and find the option that lets you add gift cards. Theres a chance that youll get a warning message here for fraud prevention, so either try again or give Venmo customer service a call at their helpline to see if they can clear up the issue.
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Use It To Buy A Money Order
Stores like Walmart as well as certain grocery stores will let you buy money orders using your Visa gift card. That said, the availability of this can vary, so check if this is an option in your area.
But once youve done this, the money order can then be deposited into your bank account to be used as straight up cash.
One thing you should keep in mind, however, is that some banks have had a habit of shutting down accounts if too many money orders are deposited. As such if you do choose to do this, perhaps combine it with some of the other options on this list.
What Happens When I Lose My Prepaid Debit Card
There is nothing to worry about when you lose your card as long as no one knows your PIN as they cannot withdraw money from your account. However, there is a danger of someone using your card to make transactions of goods and services. You should always do the following things to ensure that your account is safe.
- Keep your PIN private. I like advising people to keep their PIN only to themselves. Even your wife should not know the account number unless it is a joint account.
- Report immediately upon losing your card. Always have the card issuers contact information with you so that you can easily report any loss of the card.
- Always check your account for any illegal authorized transaction. If you discover any unusual deductions, consider changing your account details such as account number and blocking all the cards.
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Ways To Convert Amex Gift Cards To Cash
Do you have an Amex gift card, but need cash instead? Here is how to convert AmEx gift cards to cash.
Gift cards can be a kind and thoughtful gift. If youve received one, the giver probably intended for you to be able to purchase something for yourself that you either want or need.
However what do you do if you need cash for the gift card instead? While it can take a bit of creativity, there are ways to get the balance of your gift card so that you can use it for other purposes. Today, were sharing some tips to make this process easier.
Use Visa Card To Buy A Money Order
Walmart and other grocery stores will let you purchase money orders using your gift card. However, first, check if this option is available in your area since the service is dependent on state law. The money order can be deposited into your bank account for you to access the money.
One more thing is that, if you have too many money order deposits, there is a possibility of banks closing down your account for security purposes.
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Simple Options To Convert Visa Gift Cards To Cash
Receiving gift cards is great but making sure youre actually able to use the balance is the best part of all. Thats why seeing how to convert Visa gift cards to cash can be a great way to make sure that you use whats on the card with the added flexibility of being able to spend the balance anywhere!
Perhaps you were given the card as a gift or you bought it as part of a promotion. The latter is pretty common, as youll often find stores that offer discounts or bonus deals if you buy Visa gift cards from them. This can, in turn, save you a good amount on the actual value stored on the card.
You could even have gotten it by having earned it yourself! Sites like Swagbucksoffer this from time to time, by letting you earn Visa gift cards for free by watching videos, playing games and searching the internet.
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But now that youve got the card, you may be struggling to figure out what to do with it. Or you could just prefer to have straight up cash to be able to use it how you want.
Should You Purchase Gift Cards With A Credit Card
Theres nothing wrong with paying for gift cards with a credit card, but you should know there are some major pros and cons in doing so.
Advantages include the potential for rewards on your spending, although how much youll earn depends on the cash back credit card or rewards credit card you have. Its also common to find ways to buy gift cards at a discount so you can save money on a large purchase. For example, many people buy Disney gift cards at Target with the Target RedCard in order to secure 5 percent off. That may not sound like a big deal, but saving 5 percent off a Disney vacation that costs thousands can be worth the extra trouble.
As a side note, buying gift cards from small businesses can also be a helpful move if you are looking for a way to help small businesses recover from the economic impact of COVID-19. By buying gift cards now, you can send businesses some much-needed cash and wait to redeem your gift card for goods or services at a later date.
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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.
Use The Cash App To Send Yourself Money
This option is new and gives you the ability to transfer the full Visa gift card balance. However, it may not work for everyone as the app has caught on and doesnt allow it. But its pretty easy to do, first, download the free Cash app for iOS or Android.
Then you can send yourself money using your Visa gift card as the funding source. In order to receive your money simply add your bank account in order to receive your full balance. Just know that there is a 3% fee when personal payments are sent from a credit card when using the Cash app.
However, thats not that high compared to other options. For example, If you are trying to cash out a $50 gift card, youll only lose $1.50 in fees.
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Are Visa Gift Cards Considered As Cash Advances
Depending on how you purchase a gift card, the transaction can be treated as a cash advance. This is usually applicable when you use a credit card to pay for the gift card. In such a case, you will be charged a cash advance fee, and on top of that, youll pay a high interest rate.
Altogether, visa cards are considered as cash advances when buying from a financial institution or when buying a prepaid card instead of a gift card.
Can You Use Visa Card For Cash App
Cash App, just like PayPal, accepts prepaid and credit cards from Visa, American Express, and MasterCard alongside Discover.
Almost every government-enabled prepaid card is supported by the app but you cannot use Cash App to deposit money to any of the cards. When it comes to Visa gift cards, add the card to your PayPal balance, then cash out as you normally do with PayPal.
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What Is The Difference Between A Pending Transaction And A Posted Transaction
Pending transactions are authorized transactions with a hold for the purchase amount until the transaction clears. Posted transactions are purchases that have cleared on your card. There are some pending transactions that are more or less than the amount you actually spent. Some retailers place a pre-authorization amount to ensure the account is active and that you have enough money to cover the purchase. Once the transaction posts to your account, the pending transaction will be removed within a few business days, and you can use the funds again.
Why Should I Register My Visa Gift Card
There are several benefits:
- It enables you to make purchases online. Your registered address will serve as the billing address that retailers require.
- It enables representatives to more quickly assist you when you need assistance.
- It protects you if your card is ever lost or stolen, so that you can be reimbursed for funds lost.
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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!
Complete Your Bank Details
After you click Next, you will be taken to another page. Enter your Receivers details there. This will be data like your name, address and account or debit card information. As soon as you do this, click on the Next option. As per the MoneyGram site, many account deposits are finished in no time, subject to banking hours and the accessibility of the system.
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How To Get Cash From A Gift Card
Gift cards have been the preferred present or gift of choice for nearly every occasion, including holidays, birthdays, Valentine’s Day and you get the point.
Gift cards seem to be the king of gifts when you don’t know what to get that special someone.
But what if you don’t get the right gift card?
That money shouldn’t have to go to waste now, should it?
What if I were to tell you that you could get cash off of that gift card? Don’t worry, this is perfectly legal and rather simple.
Chase Freedom Unlimited: Best For Drugstores
The Chase Freedom Unlimited starts you off with a $200 cash bonus when you spend $500 within three months of account opening. You also earn at least 1.5 percent back on all purchases, 5 percent back on travel booked through Chase Ultimate Rewards, 5 percent back on Lyft purchases , 3 percent back on dining and drugstore purchases and 1 percent back on other purchases. No annual fee applies.
Why this card is ideal for gift cards: The Chase Freedom Unlimited lets you earn 3 percent back when you buy gift cards from drugstores.
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Three: Register Or Log
After finding out whether your prepaid card provider allows such a transaction, you can sign-up for an account or log in if you already have an account.
If you need to do registration, then you will need your prepaid card with you. After signing-up, you can use the log-in details for future transactions.
Costco Anywhere Visa Card By Citi: Best For Gas Stations
The Costco Anywhere Visa® Card by Citi doesnt charge an annual fee when you have a Costco membership , yet youll earn 4 percent back on the first $7,000 you spend at eligible gas stations each year , 3 percent back on restaurants and eligible travel purchases, 2 percent back at Costco and on Costco.com and 1 percent back on other purchases. You do need to be a paid Costco member to qualify.
Why this card is ideal for gift cards: This card lets you earn 4 percent back on gift cards purchased at gas stations, up to annual limits. Costco.com and Costco stores also offer a broad selection of gift cards you could earn 2 percent back on, including gift cards offered at a discounted rate.
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