How Do You Convert A Gift Card To Cash
There are several ways to convert your single-use gift card to cashheres what you can try:
|Kiosk||Many grocery and department stores have vending machines that offer cash in exchange for gift cards|
While these methods are options, all of them have the same drawbackyou will not get the full value remaining on your card. Typically, you will be offered a maximum of 8590% of the true balance on your gift card.
Your next option is to get a cash reimbursement directly from the vendor.
National Use Your Gift Card Day
Did you know this is a holiday? Its held on the third Saturday in January. This year, its on Jan. 15, 2022. Its simple: find your gift cards, organize your gift cards and use your gift cards! Its not just a reminder to use them, some retailers offer discounts and perks if you do use them on this day. to visit the website for more information.
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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With Raise Youll Get To Set Your Own Price For Your Unused Gift Cards
- Payout value: You set the value of your gift card!
- Payout options: Check by mail , ACH deposit, or PayPal.
- Retailers accepted: More than 4,000 brands, though there are many brands with restrictions.
Likely one of the most well-known websites on this list, Raise.com is another great place to sell your unwanted gift cards. Its a bit different from the other websites mentioned as you have the freedom to set your own price for the sale. Sweet!
At Raise, after you enter in the amount of your card & card information, you choose your selling price , and the website will show how much you can earn from the sale after they take their cut of the selling fees. So while it may seem like you could get more for your card on Raise, dont forget to take the websites commission into account.
Looking to buy a gift card? For a limited time, get an extra 10% off all of Raises discounted gift cards when you enter promo code FIRST on your first purchase.
Tips On How To Sell Gift Cards Online Instantly
Have the following in mind when you sell gift cards instantly.
- Sell gift card online instantly instead of physically to avoid shipping costs.
- It is also possible to sell gift cards online instantly that are partially used and if possible, opt to trade a gift card instead of selling it.
- Finally, since gift cards do not have expiry dates, you can wait to sell it at your preferred price.
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How To Convert Your Visa Gift Card To Cash
If you notice how your wallet is being weighed down or wont close all the way, youre probably like I am with a bunch of Visa gift cards stuffed in there that you forgot about. The cards are often for places like restaurants or movie theaters with Visa, Target, and sometimes Starbucks cards mixed in there.
Truthfully, those gift cards get lost in the folds of my wallet. I find myself shuffling through them months later forgetting they were even there only to wish they had actually been cold, hard cash instead. I have often wondered if there was a way I could turn my Visa gift cards into cash.
Nowadays, there is no shortage of ways to convert a Visa gift card to cash. While gift cards are typically a well meaning gift from others, lets be honest that the cash is more appealing. The ways listed here to get cash for your gift cards can fill your bank account instead of filling your wallet with unnecessary weight.
When You Cant Get Cash For Gift Cards
If you find it is impossible to get cash for gift cards youre looking to sell, dont lose hope. I have some additional tips of how you can make the most of those unwanted gift cards. In some instances you might still be able to make a little money from them but not in a way you might have expected. Here are three additional tips on what to do with unwanted gift cards.
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Ways To Convert Your Visa Gift Cards To Cash
Visa offers prepaid gift cards you can use for any special occasion. Whether its a birthday, wedding, or holiday, these cards are a welcome exchange.
Since they are monetary in nature, the question arises can I turn a gift card into cold hard cash? Anyone can convert a Visa gift card to cash, but you have to do it in a specific manner.
Allow me to explain in detail how you can perform this action. Before I start, I should let you know the type of Visa gift cards that can be converted.
This post may contain affiliate links. That means if you purchase an item through these links, I may earn a commission at no additional cost to you. Please read the full disclosure policy for more info.
How To Convert Visa Gift Cards To Cash
There are a bunch of different ways to get your Visa gift card balance converted to cash. In a few cases, theyll let you end up with actual cash in your hand, while others will let you treat the card as if it were cash in terms of how you use it.
There are a few ways though that involve a transfer of the Visa gift card to your bank account. From there, youll then be able to withdraw the money as cash.
Want to get started with a free $5 Visa gift card? Simply and youll get a free $5 welcome bonus, which you can then convert into a Visa gift card
Whichever option you choose though, the outcome is the same. So it just becomes a question of which one is easier for you.
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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.
A Note On Fraud Prevention
Speaking of fraud prevention, what stops someone from selling a gift card then quickly making an online purchase with the card number? Fraud prevention steps such as requiring the seller to provide identification, a credit card that will be charged if the value suddenly drops and other contact information are helpful. Many resellers have other proprietary measures in place as well. Situations like this, however, are exactly the reason I suggest only working with a reseller that offers customer service and a money-back guarantee.
Think youre the victim of a gift card scam? Read this post on Gift Card Scam Protection.
With so many options to choose from, you should have no problem finding a place to exchange your gift card for cash. My boys sold their Christmas gift cards one year and used the money to pay for things theyd been saving for. Although they hesitated at first, both decided having a little money is better than having unused plastic.
Do you have any other questions about selling gift cards for cash or need other gift card help? Reach out to me in the comments below, on Twitter or on Instagram .
Happy Gift Carding!
~Shelley Hunter, Gift Card Girlfriend
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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.
Sell It To A Gift Card Exchange Website
Using a gift card exchange website, like Gift Card Granny or CardCash, is the most straightforward method for converting your gift cards into cold hard cash. All you have to do is go on their website and sell your gift card.
Both Gift Card Granny and CardCash take a wide variety of gift cards, including Visa ones. You can easily trade Visa gift cards for cash payments. The best part is they offer up to 90% cashback during the entire process.
First, youll need to select an offer. Once you choose the Visa gift card with an appropriate balance, you can submit it and go through a verification process.
After this is done, youll be able to get paid. This online method allows you to earn more money compared to more expensive rates of gift card kiosks. Keep in mind it might not work for every Visa gift card, as offers come and go.
Can you sell a Visa gift card to another person?
Yes, you can sell your Visa gift card to another individual without it affecting the gift card. If you go this route, youll likely find that people will only be interested in buying it from you if its offered at a discount.
Otherwise, they could avoid the hassle by buying a gift card from a regular retailer. This is a valid option though if you can sell it for more money than a gift card exchange offers you.
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How Can I Cash In A Gift Card
If you are looking for ways to exchange your gift card for cash, you can actually do that online. One of the faster and legit ways you can get cash for a Visa gift card is by selling it on platforms such as Gift Cash.
With this site, you can sell your unwanted gift cards by submitting the gift cards corresponding merchant and balance. After that, Gift Cash will submit an offer to you, and if you accept the offer, they will process your payment and send you cash.
You can also check out selling your unwanted gift cards on Gift Card Granny. This site has been seen in Forbes, NBC News, Oprah Magazine, and much more.
Can You Transfer Money From Visa Gift Cards To Paypal
Using the Card Cash website, you can sell your unwanted gift cards and get money for them.According to the PayPal site, you can transfer money from a gift card right into your balance on PayPal.
Keep in mind that you will have to buy another merchants gift card with your Visa gift card first and then upload that gift card onto the Card Cash website.
From my knowledge, it looks like the Card Cash website only accepts gift cards from stores such as Target, Walmart, Jewels-Osco, etc. Therefore, you will have to purchase a gift card with your Visa gift card from one of the accepted Card Cash merchants.
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Are Visa Gift Cards Like Cash
Visa gift cards are like cash, in that they are preloaded with money to a given dollar value. One way is to use them as cash is by buying things in a store, physically or online.
However, unlike cash transactions whereby you get your balance in notes and coins, gift cards retain the balance after the purchase value is deducted.
Also, not all sellers accept gift cards as a mode of payment which is unlike cash that is universally acceptable.
Buy And Sell The Items
If you have a knack for spotting deals and buying and selling, then you might want to try this option. You can use the unwanted gift card to buy some sale items from a specific store.
You can then sell the items for a profit and for cash. There are various places to sell goods, including markets, fairs, and garage sales.
You can also sell the goods online on sites like eBay. Many people make a lot of money by buying and selling sales items.
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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.
How To Stay Safe When Selling Gift Cards
Among the best sites to sell gift cards online for cash instantly is a marketplace where they verify the card balance and also offer protection both to the buyer and the seller. Once you have sold the gift card, it is essential that you keep it for up to 180 days just in case the buyer is unable to redeem the card balance.
If you find another platform yourself to trade gift cards online instantly, be sure to always check them on trustpilot first.
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How Do You Transfer Money From A Visa Gift Card To Paypal
PayPal accepts Visa gift cards, and you could use your Visa gift card to fund your transaction in PayPal. All you need to do is to link your card to your PayPal account, and then add cash from the Visa gift card to your PayPal account.
As well, you can always use the Visa gift card balance to fund your transactions whenever necessary. This is the same way you link credit cards and debit cards to your PayPal account to use the card balances for various transactions. Linking a card to PayPal is easy. Even the second chance credit card with no security deposit attaches so easily with PayPal so long as it is active.
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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Where To Buy Gift Cards
Before you buy a gift card, ask if there are any restrictions on what you can buy.
Gift cards for various retailers are available:
- at Canada Post outlets
When you buy a gift card, make sure the retailer activates the card.
When you buy a gift card, you dont pay tax on the gift card. The retailer will charge tax when you buy a taxable item with the gift card. For example, you pay tax on a sweater you buy with a gift card, the same as you would when you pay with cash or credit.
Can You Withdraw Cash From A Prepaid Visa
You can withdraw cash from a prepaid Visa, with the card being treated the same way as any Visa debit card. This means that you can use the prepaid Visa to make purchases online or in-person, make bill payments and withdraw cash.
Just keep in mind that a prepaid Visa is different from a Visa gift card, with the latter being more restricted in terms of how you use them. While a Visa gift card can be used the same way as a prepaid Visa when it comes to making purchases, its usually isnt possible to use a Visa gift card for ATM withdrawal or as cash back in a store.
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The Secret World Of Gift Card Trading
You might not realize the internet is home to a savage gift card shadow economy. People utilize a variety of websites to buy, sell, and trade gift cards safely.
While it might sound disturbing, these websites are the safest and easiest way to exchange unwanted cards for cash. Unlike eBay, these sites guarantee you wont get ripped off. They work with digital or physical gift cards, and they sometimes give you the option to name your price through auction or negotiation systems.
Thats not to say these sites are perfect. They sell your cards at a reduced rate and charge listing fees, so you usually only end up with about 70 to 90 percent of whatever your card was initially worth.
Plus, they have to process your gift card or wait for somebody to buy it, so it might be a few days before you get paid.
However, if cash sounds better than hanging on to all those gift cards, here are some of the best places you can sell them: