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This method could be used for anything that you normally pay with cash. Provided the vendor accepts Visa or Mastercard, then you can do this. You could use gift cards to pay large bills, small bills, or just for your regular purchases at the local store.
Whatever you use the gift card for, you now have the equivalent amount of cash still that you can use for any purpose. The cash could be saved in the bank, used to pay other debts, or added to an investment account.
What Is Manufactured Spending
Manufactured spending is the act of artificially spending money solely for the purpose of generating rewards points or to accelerate meeting your minimum spending requirement.
You artificially spend by purchasing virtual gift cards, products, tools, or services at the lowest cost possible.
Think of manufactured spending as spending arbitrage. If you can earn 5% cash back spending money at a store but it only costs you less than 1% to transact, you are inherently making money on that purchase.
Previously, you could purchase virtual gift cards to convert to cash that would enable you to earn points for virtually no cost.
That involved a bit of a run around the town.
Now, manufactured spending continues to evolve.
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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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.
How Do I Transfer Money From A Visa Gift Card To My Bank Account
You cannot directly transfer funds from a Visa gift card to your bank account, but you can find a workaround by following the steps outlined below.
Some of the options include:
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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.
Use Your Visa Gift Card To Buy A Money Order
You can purchase a money order at Walmart and select grocery stores with your Visa gift card, which you can then turn into cash by depositing it into your bank account.
Be sure to set a PIN on your gift card first because Walmart only accepts cash and debit cards for money order purchases.
The maximum charge for purchasing a money order from Walmart is $1, making it really affordable.
One major downside of money orders is that they can raise suspicion of fraudulent activity if done frequently, leading to account closure.
Therefore, it doesnt work well as a long-term strategy. Once or twice is good enough.
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Where Can I Trade In Gift Cards For Cash
Most of the ways listed in this guide allow you to trade in gift cards for cash. To get cash in your hand, sell them to friends or exchange it at a kiosk. Add the balance to PayPal or cash app and transfer it to your bank account.Sell the gift cards via apps such as Raise and once sold withdraw the balance to your bank account. Visit participating stores and use the gift card to buy a money order which can be deposited into your bank account and you now have the cash to use. Ultimately all methods result in you getting cash, but some will deposit into your bank account rather than cash in hand. Just remember that fees may apply depending on the method you use and to check these before completing any exchange.
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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Purchase A Money Order With Your Gift Card
A money order acts very similarly to a check but you have to have it issued by your bank or a specialty institution. The good news is that Walmart and some grocery stores customer service areas now issue money orders.
Youll have to check with each individual money order issuer, but you may be able to purchase your money order using your Visa gift card. This is no different than paying for your money order using a debit card.
Just make sure you have enough money on the gift card to cover the balance of the money order. Then you can cash the money order or deposit it into your bank account.
Transfer The Amount To Paypal
A great way to convert your Visa gift card to cash is to use PayPal to transfer the money.
You can add Visa gift cards to PayPal and then use the balance as cash at retailers that accept PayPal as payment.
Its one of the easiest methods to use to exchange Visa gift cards for cash if you have a PayPal account so definitely consider using this method.
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Give Them Out As Gifts
Sometimes, you may be required to give out gifts, and in most circumstances choosing the right gift for a friend or family member can be challenging. But if you have a Visa Gift card you, can give it to a friend and let them decide on what to buy.
What I like about this gift idea is that you can get Visa Gift cards for $1, $10, $100, $200, and all the way up to $500. This makes them a perfect alternative to high-value gifts.
Using A Visa Gift Card At An Online Casino
You can fund your online casino account safely with Visa gift cards. Some gambling sites like them so much they offer special promotions to encourage players to use them.
US online casino players can buy a Visa gift card at many retail stores across the country, including Walmart, Target, CVS, Walgreens, and most grocery stores. Additionally, you can buy them online at Amazon.com.
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How To Transfer A Visa Card To A Bank Account
- Add your gift card to your Venmo or PayPal account and proceed to transfer your balance to your own account.
- Visit a Gift Card Exchange Kiosk, get money for your voucher, and deposit it to your account.
- Sell your gift card to a website or app that pays you direct deposit to your account.
- Buy a money order using the Visa card, then deposit it in your bank account.
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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.
Use Your Visa Gift Card To Pay Your Bills
Another option you may not have considered is simply using it to pay some bills. Its as good as cash, after all.
Not all online payment systems will accept it, but most do. So consider paying your phone bill, gym membership, gas, groceries, or other recurring expenses with it.
Its honestly a pretty effective way of using your Visa gift cards full value instead of losing money when trying to sell it.
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How To Liquidate Prepaid Debit Cards And Gift Cards Using Amazon Payments
January 6, 2014 by Angelina Aucello
Update: This feature has been discontinued as of October 2014.
I dont know about you, but I get nervous when I have too many prepaid debit cards and gift cards lying around. Its bad enough that I have to keep tabs on my 15+ active credit cards that are stuffed in my wallet the last thing I want to do is worry about losing a gift card with a balance on it, then Im purely SOL. Whats even worse is when you use the prepaid card a few times, and youre stuck with a balance of like $1.07 at the end.
Ive mentioned many times that Amazon Payments is a great way to spend money for free using a credit card . Luckily, I found that Amazon Payments is also the best way to completely zero out your prepaid cards and bank-issued gift cards and its actually simple. Whether you have $500 on it, or 5 cents on it, you can turn those gift cards into cash for free using your Amazon Payments account.
In the points and miles world, youre bound to get your hands on a prepaid card at one point or another thanks to things like manufactured spend, minimum spend requirements, sync promotions, Ink 5x promotions at office stores, etc. For instance, I bought wayyyy too many $500 Visa gift cards last month during the awesome A& P/Pathmark promotion .
Below I will guide you through the 3 simple steps to putting those gift card balances back in your checking account. I have used a real-life example of a Visa gift card I had with a balance of $139.77.
Can You Pay Bills With A Prepaid Debit Card
Yes, bill payments can be made with a prepaid debit card if there are sufficient funds loaded to the card. An important thing to take note of when seeking to make any bill payment with a prepaid card of any kind is the cards processor. All prepaid debit cards partner with one of the four major payment card processors: Visa, MasterCard, Discover, or American Express. Generally, the card processor will dictate whether or not an electronic payment card is accepted by a company for a bill payment. Store gift cards typically can’t be used for bill payment unless with that specific retailer.
Beyond that, most prepaid cards will work in the same manner that any regular payment card will. If the cards processor is accepted, payments may be made on a website, on the telephone with representatives, or by filling out a form included with a paper bill in the mail and returning it through the postal service. Transactional fees are usually not necessary although some companies may charge for payments over the phone or express payments.
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How To Make Online Casino Visa Gift Card Deposits
Making an online casino deposit with a Visa gift card is pretty straightforward. Follow the steps below, and youll be playing for real money in only a few minutes.
Register or Sign In at a Recommended Casino
Join an online casino that accepts prepaid Visa cards by creating a player account. If you already have an account, log in and move to the next step.
Navigate to the Cashier
Find the cashier in the navigation menu on the homepage. Once there, click on the Deposit option. Youll see a variety of payment methods. Pick Visa.
Enter Visa Gift Card Information
Input the 13-16 digit gift card number, three-digit security code, expiration date, and how much you wish to deposit.
Enter an Online Casino Bonus Code
Make sure to browse bonus offers and accept one that applies to you and the games you plan to play.
Play Real Money Games
Your funds should hit your account almost instantly. Browse their real money slots and casino game catalog to start playing for real money.
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.
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Can You Get Cash From A Vanilla Visa Gift Card
The short answer is not exactly, but the longer answer is it depends on the method you use. Vanilla Visa gift cards are the more popular choice for consumers since its easy to use.
There is a difference between a Vanilla gift card and a prepaid reloadable one. The former cannot get cashback from local ATMs, while the latter does.
What you can do is use a Vanilla card to transfer to PayPal or Venmo. Remember they take any prepaid card from Visa, which includes these gift cards.
You can always check the balance to make sure everything is correct. Its as good a method as any to ensure you can cash from a gift card without having to use the gift card itself.
You can also use exchange kiosks, although these might be in rare locations. The kiosks do take a fair amount of money from the fees, but they are the easiest method to get your cashback from the gift cards.
If you can find any nearby grocery store with this machine, I highly recommend doing so. Its arguably one of the most dependable methods to transfer any Visa gift card to cash.
You can even sell to any merchant in the local market but beware of transaction fees. If you plan on selling a smaller card, the costs dont really add up to anything noticeable.
Visa gift cards with more considerable sums lose a good chunk through fees, so be careful when you consider this option. These fees vary depending on the vendors themselves. If they are too expensive, I suggest not going through with it and choosing another method.
Add Your Visa Gift Card To Paypal Wallet
PayPal Wallet is a phone app thatallows you to pay with a PayPal account.
It is called a wallet because youcan add your cards to this app and use them when making payments through thisapp.
One way to get cash from a visa gift card is to add the visa gift card to your PayPal wallet.
Once added then you can send itthat another PayPal account that you are holding.
Afterward, you can use a PayPaldebit card to withdraw the cash.
In case you dont have anotherPayPal account you can send the money to a colleague who can withdrawal it foryou.
The only drawback with thismethod is that PayPal will charge a processing fee of 1.4%
If your PayPal wallet isconnected to your bank account then that is much better as you can thentransfer the money to your bank account.
Unfortunately, sometimes it maytake up to five business days to reach your bank account.