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.
Prepaid Vs Gift Cards
A gift card is essentially like cash you can only spend at a specific store. You use the card until the balance is gone and then discard it, though some retailers allow you to add more money to the card so you can continue spending with it. Not all stores allow you to reload existing cards, and there’s a chance the store could give you a new gift card every time you want to add money. One red flag to look for are fees, as gift cards shouldnt have any. If a retailer tries to charge you a fee for using a gift card, we recommend using another method of payment or simply shopping elsewhere.
Prepaid cards are designed to be reloadable, and as such, they sometimes carry fees. These vary by card, so its important to read the fine print if you go this route. These cards are often available from credit card companies like Visa and can be used on everyday expenses. Wallet Hub found prepaid cards can cost a person up to $311 per year in fees though, so if you can, you should opt for cards directly from a bank because they have fewer fees and a more secure guarantee. Or, you can avoid this quagmire altogether and opt for a gift card. If the person can’t find anything at the store it’s good at, they can use a gift card exchange to swap it for one theyll love!
Prepaid Cards Vs Gift Cards: An Overview
Prepaid cards and gift cards are both pieces of plastic that can be used to make purchases. They make popular presents as well: A versatile way to give a recipient the funds to buy whatever they like that seems safer and a touch classier than a wad of cash, and more convenient than a personal check. The biggest difference between the two reflects their permanence: prepaid cards can be reloaded and used indefinitely, while gift cards can generally only be used until the dollar amount on them is exhausted.
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Final Thoughts On Converting Visa Gift Cards To Cash
Visa gift cards are pretty flexible in terms of how you can use them. Given that theyre accepted anywhere that also takes Visa credit cards, you already have a huge array of options on where to spend the balance on your gift card.
But its true that sometimes having cold, hard cash is preferable. Its easier to track as part of your overall net worth, for example, and youre not limited in case you plan to use the money somewhere that a Visa credit card wouldnt work.
In those cases, one of the options on this list will definitely help you out. Just keep an eye on the fees to make sure theres not a more affordable option for what you intend to do with the money.
But once youve decided how to proceed, in only a few clicks, that money will be yours!
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Problem #: Not Always Easy To Use
Clarks second problem with Visa gift cards is that a lot of people say its difficult to use up the entire balance on the card, especially when theres only $5 or $10 left.
Although the cards can be used at millions of retailers where Visa debit cards are accepted, both online and offline, there are times when purchases are declined.
For example, a member of Team Clark received a Visa gift card that was disabled at gas pumps and had to go inside the station to use it.
Restaurants can also be tricky. Some of them authorize an additional temporary 20% gratuity charge to your bill, but the actual charge is the price of the meal plus any gratuity you add.
If your bill is $50 before tip, your $50 gift card may be declined due to the preauthorization hold.
Hotels and car rental companies also place preauthorization holds. You must always make sure you have enough money on the card to cover the purchase amount and the hold.
Explanation of pre-authorization holds from the terms and conditions:
When making a purchase at a merchant that provides certain services or accepts tips, a preauthorization hold may be placed on your card for the estimated total price of your transaction.
This estimated total price will be for an amount greater than the initial purchase, 20% or more, to allow for tips, incidentals or additional services and will reduce your available balance.
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Can I Sell My Visa Gift Card
No. Though Visa®, Mastercard® and other bank-issued gift cards are accepted at a wide range of placesonline, in stores, over the phonethey cannot be sold for cash at a Gift Card Exchange kiosk. Since we were standing in the grocery store, however, I suggested she use the card to buy groceries or pay for her prescriptions next time she visits the store.
Having never used this kiosk before our trip, I can honestly say that it is something I will consider trying again depending on the card I have and how quickly I want the money.
The process of exchanging a card for cash in this way takes a few minutes because you have to enter information about the card as well as provide personal identification, but it only takes a few seconds to get an offer. So theres no harm in walking up to the machine, scanning your card, selecting a retailer and seeing how much money you can get. If youve got cards that have been in your wallet for a few months, then its worth taking a few minutes to see if you could get cash instead.
Do you have other gift card questions or need gift card help? Leave a note for me in the comments below or reach out to me on Twitter . I never get tired of answering your gift card questions.
Happy Gift Carding!
~Shelley Hunter, Gift Card Girlfriend
Give The Visa Gift Card Away As A Gift
Another great way to convert Visa gift cards to cash is by giving them away as a gift. One of the great things about Visa gift cards is that they can serve as a cash gift. If you are attending a special occasion such as a birthday or baby shower, you can give a Visa gift card to the person.
The person will be able to use the gift cards like cash to purchase the items of their choice. This is a great way to give someone a gift that is similar to money. Instead of giving someone something like cash in a card, you can simply put the Visa gift card in a special card and give it to them as a gift.
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Walmarts New Gift Card Exchange Program
UPDATE: NBC just ran a story about a brand new pilot program at Walmart. For a limited time , Walmart is offering a gift card exchange service. You can bring in over 200 different kinds of gift cards and get a Walmart gift card in exchange.
They will give you anywhere from 70-95% of the value in Walmart money. Not the best exchange rate, but it beats sitting on a gift card you dont plan on using anyway.
Where Can I Buy Amazon Gift Cards
You can buy Amazon gift cards in $15, $25, $50, and $100 denominations at participating grocery, drug, and convenience stores throughout the U.S. At select stores you can also choose a variable denomination card, which can be loaded with any amount between $25 and $500. See a full list of .
You can also buy Amazon gift cards on Amazon.com with any credit card. You can fund your own account balance, or send digital gift cards to others via email or text. Physical gift cards can be sent through direct mail. And heres a quick tip avid Amazon shoppers can use to secure a great reward rate on gift cards purchased directly from Amazon itself.
A good way to keep a credit card active is to load $1$2 on an Amazon gift card for your Amazon account, once every three to six months or so.
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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.
Target Redcard: Best For Gift Card Discounts
The Target Redcard is available exclusively for purchases made at Target, which means it is rather limited. However, this card doesnt have an annual fee, and youll get perks like 5 percent off everything you buy at Target and Target.com, free shipping on most items and exclusive offers and savings.
Why this card is ideal for gift cards: The Target Redcard also lets you save 5 percent off specialty gift cards for travel, restaurants, subscription services and more.
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Visa Gift Cards Are Sold In Stores
Walk into any major grocery store, drug store or gas station and you will likely find a rack of gift cards. Among the cards for stores and restaurants, youll also see general purpose gift cards powered by major credit card companies.
Though you cant personalize these gift cards, you can buy them off the rack in various denominations. Activation rates Ive seen for a $100 Visa gift card range right around $6.
What About Cardpool Kiosks
Cardpool is unique in that it offers its gift card exchange service through kiosks. These kiosks are usually located inside another store, such as a Target, and you can locate one using Cardpool’s online map search feature. Once you find a location, simply bring all your unwanted gift cards to that store and swipe them at the machine. You can also exchange electronic gift cards.
The downside is the cards must have at least $15 on them and no more than $1,000, so that Starbucks card in your wallet with a couple dollars on it wont work. You can get up to 85 percent of the card’s value at a kiosk, though your return will vary depending on the type of gift card you exchange. The kiosk prompts you to enter your personal information and then offers you cash in return for the cards. Finally, you collect your money from the store’s service desk or at the kiosk if you have a reloadable Visa gift card.
To use a kiosk you need a government-issued ID, cell phone number, email address and sometimes a credit card number. This is to prevent fraud and keep someone else from collecting your cash at the stores service desk. If you are asked to enter credit card information, Cardpool will never charge it without your permission. However, if the gift card you sell was obtained illegally, you could be charged.
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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 using an app like Swagbucks. Its basically like earning free coffees from procrastinating on your phone!
Many Ways To Sell Gift Cards For Cash
There are many ways to sell gift cards for cash. The most common way is to sell a gift card online to a gift card reseller that buys the unwanted gift card, sends payment to the seller and then resells the gift card to another customer. In addition to true resellers, there are also online sites that match gift card sellers up with gift card buyers, facilitating transactions without actually touching the cards.
One of the benefits of selling your gift card to an online reseller is that the cash back offer will generally be higher than any other method. The one drawback to using these sites, however, is that youll generally have to wait for payment to arrive. Depending on the reseller and payment method selected, you might wait a couple of days for a PayPal deposit or a few days for a check to arrive in the mail. Because the cashback offer is so good, however, I think online resellers are the best choice when you dont mind waiting to get your money.
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Flip Items Purchased On Amazon
Are you an entrepreneur that relishes the idea of thinking outside the box?
Selling items for a profit that you purchased with your Amazon gift card is a prime example of making money with retail arbitrage.
There is an extra step or two involved to make money, but it can be an enjoyable experience and more profitable than selling it for a discount online.
Plus, if you are an or own an Amazon credit card, you can earn cash rewards that can maximize your profit even more.
Use The Visa Gift Card To Pay Your Bills
The next method, which is as good as getting liquid cash, is using the gift card to cover your bills. This can be done with the free service called Plastiq as mentioned above.
You can do this in the following ways:
Pay large bills like your mortgage, car payment, and more
Since you would have used cash to pay for the installments of loans like your car loan or mortgage, using the card is as good as cash.
Some companies, such as Plastiq, allow clients to settle certain bills through credit cards.
And, since Visa cards are perceived as credit cards, you can use them with companies that allow payment by credit.
However, you should know that since the company will treat the card as a credit card, the card will incur slightly fees. Its completely free to sign up and try.
Pay everyday bills
Besides using the cards for larger bills, you can also use it to settle regular bills or, better still, make some local purchase with the Visa gift card.
This is possible since, in most cases, Visa gift cards are acceptable in stores that accept normal Visa cards.
Also, billers who accept the use of credit cards will, in most instances, take the gift card as payment.
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Where Can I Sell Unused Gift Cards
You can sell gift cards for cash online and in person.
Selling your gift card in person is the fastest way to get cash, but that doesnt mean its the most lucrative. GiftCardBin has hundreds of partners around the U.S. that offer cash for gift cards. The slower and more lucrative way to sell gift cards is online, and you can earn up to 92% of the gift cards value in cash by using one of the gift card exchanges mentioned above.
Where To Get Visa Gift Cards With No Fee
Most Visa cash gift cards come with an activation fee. In the table below, you can see how much the purchase or activation fee varies depending on the cards balance:
The purchase fee varies only if the cash gift card is physical. If you have a digital Visa gift card, the activation fee is $5.95, regardless of the balance.
To avoid paying the activation fee, you should purchase a Visa gift card in one of the following financial institutions:
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