Get Cash For Gift Cards
Many people wonder how they can get cash for gift cards. This usually comes up when they receive a gift card as a present. The gift card is to a place they dont shop or have no interest in shopping.
Or, people may be wondering who buys used gift cards or about how to get cash for gift cards. This usually happens when theyre looking to put more money back in their budget. When money is tight, exchanging unwanted or unused gift cards for money makes a lot of sense.
In this blog post Im going to address three solutions related to the notion of cash for gift cards. First, Ill remind you how to make the most of gift cards you already own. Next, Ill review places that give you cash for gift cards, when youre looking to sell them. Finally, Ill offer suggestions on what you can do with those unwanted gift cards when selling them for cash is not an option.
Giftcash Is A Trusted Website With Some Of The Highest Payout Rates In The Industry
- Payout value: Up to 92% of the value of your gift card depending on the retailer.
- Payout options: ACH, Cryptocurrency
- Retailers accepted: More than 150 brands.
You can sell your unwanted gift cards with confidence on GiftCash.com! Although their expected payout turnaround time is among the longest on this list , youll receive communication from them throughout the process so youll always know where your transaction stands.
In the end, many users report that it only took about half as long as expected to receive their payment!
Heres an awesome Hip2Save reader testimony:
Ive used ALL of these services. Ive only ever purchased from Raise but I have sold gift cards to the other companies listed above that I wasnt using. I had a great experience with all of them and highly recommend! Heather, Hip2Save reader
Consumer Reports Checks Out Four Gift Card
Your cousin no doubt meant well when he gave you a $50 gift card to Outback Steakhousehe just didnt remember that you had become a vegan. But you can convert the card to cash.
Numerous card-exchange websites have emerged in recent years, offering to pay as much as 92 percent of a cards face value from merchants of all stripes: gas stations, hotels, department stores, restaurants, supermarkets, movie theaters, and specialty chains.
Although we have warned consumers about buying cards from those retailers, companies say they verify the cards as legitimate and confirm their value. Once they do that, they send you a check, then try to resell the cards at a profit, though still at less than face value.
We checked out four sites that you can use to exchange gift cardsGiftcards.com, Cardpool.com, Giftcardrescue.com, and Monstergiftcard.comeyeballing their policies and using their online calculators to determine how much we would get for 13 cards, each with a $100 face value. Here are the key lessons we learned in our experiment:
Not all cards are equally valuable. The purchase price depends on a merchants popularity. Resellers were generally willing to pay more for Walmart and Whole Foods cards than for those from Brooks Brothers and Bass Pro Shops.
Prices vary from site to site. Monstergiftcard.com, for example, paid generously for Bed Bath & Beyond cards, but other sites paid a lot more for Coach cards. So it pays to comparison shop.
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Convert Your Visa Gift Card To Cash By Selling It To A Website
There are plenty of websites that will pay cash for your Visa gift card. In addition to the ones mentioned above that have apps for this, there are also others like Gift Card Granny, CardCash and more.
If your gift card is digital, then the process can be instantaneous. But even if you have a physical card, some of these sites will pay for your postage to send them the card, so you wont end up losing any money on that front.
Like with the apps, the sites will take a fee based on a percentage of the balance of the card, so make sure you know just how much this is before agreeing to the sale.
Also, it can be a good idea to do some searches for the site youre considering using, just to get the most up to date reviews on whether other people have had a good experience with them.
Bring Your Id And Credit Card
I took my son with me to a Gift Card Exchange machine once and he asked the obvious question, How does the machine know that theres money on the gift card? Couldnt someone just say it has $20 and get cash back? The answer is no. The Gift Card Exchange kiosk will check the balance of the gift card before accepting it. But just to avoid any potential tomfoolery, youll need to provide your mobile phone number and email address, plus scan your drivers license and a credit or debit card in order to complete the transaction.
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Give Out The Visa Gift Card As A Gift
Sometimes, you may be required to give a gift to a friend or a family member for special occasions such as weddings.
Since the prepaid Visa gift cards are usually bought in denominations of $100, $200 or $500, it can be an excellent gift and will essentially serve as cash.
Instead of giving a check, a Visa gift card is just as good.
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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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Donotpay Can Help You Convert Your Apple Gift Card To Cash
Using DoNotPay is the best way to get your money back from an Apple gift card. We will send your request to one of the company locations in states that allow cash back on gift cards, and they will send you the money back within 14 business days.
All you need to do is follow the instructions:
Can You Transfer Money From A Visa Gift Card To A Bank Account
Yes, it is possible to transfer money from a Visa gift card to a bank account but you have to go about it in a roundabout way. But dont worry! Its less difficult than you think to get around it.
Theres nothing worse than losing a gift card or forgetting you have it around so below Ill cover some options to help you liquidate your Visa gift card.
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Mall Kiosks And Other Stores
At my local mall, there is a kiosk where gift cards can be sold for cash. Run by one of the prominent online resellers, the cashier will make an offer for your card. If you accept the offer, the reseller takes the plastic and you walk away with the money. At this particular venue, the highest amount you can get is 75 percent of the gift cards value. Although the amount you receive may be less, if youre conveniently located near a kiosk, you can obtain money quickly.
Target may also accept gift cards, but you wont get cash payment in return. Youll get a Target gift card to spend instead. Please call your Target before going to the store to be sure they are still accepting cards.
Register Your Card For Extra Perks
When you get a Starbucks gift card, it makes sense to register it right away so you can participate in the My Starbucks Rewards program. When you register the card, youll get a freebie. You can also upload the gift card to the Starbucks app and reload it that way, too.
Because you have to include your birth date during registration, Starbucks will send you another freebie on that special day. And then every time you pay with that card, youll earn rewards points, which will add up to free food and free drink down the road.
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Gift Card Laws: An Interactive State
Get any gift cards this holiday season? They can be well worth the money and a great last-minute gift idea, but do you know your rights when it comes to gift cards?
In some states, you can actually redeem gift cards for cash once they reach a certain amount – typically between $5 and $10.If you live in one of these states, simply take the gift card to the retailer and request that you receive cash for the remaining balance.
But theres also a few catches when it comes to gift card laws if you leave your card sitting around too long, the state may be able to claim the balance for itself. You should also check to see if your state allows companies selling these cards to charge you fees for inactivity or processing, as this can make that $25 gift card a little less valuable.
While federal regulations are in place, most of the rules regarding gift cards depend on where you live and ClassAction.org has done the research for you this holiday season.
Sell Or Trade To Your Friends
Another local option is to sell or trade your card to a person you know:
- Family member
Since you already know each other, you might be able to get a better deal than dealing with a stranger.
Once again, Amazon gift cards are akin to plastic gold so it should be relatively easy to sell or make a trade.
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How Can I Get Cash For Gift Cards Immediately
When you sell your gift cards online, its possible to get a quote immediately. That is, you can easily and quickly check how much your gift card is worth. But the entire process of selling the gift card online will take much longer, especially if mailing the gift card is required.
One option for faster cash is through GiftCardBin, which partners with more than 600 businesses nationwide to buy gift cards in person. Use its store locator tool to see if a partner is nearby. Then you can sell your gift cards for fast cash. However, you should expect a quote much less than the online exchanges.
Is Raise Com Safe
Raise is a secure site, with updated SSL certification. On top of that, Raise also offers a money-back guarantee. If you buy a discounted gift card and it ends up not being active, the balance is inaccurate, or the card ends up being a different brand than you ordered, Raise will refund your money within a year.
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Get Up To 92% Back For Your Gift Cards With Cardcash
- Payout value: Up to 92% of the value of your gift card depending on the retailer.
- Payout options: Check by mail, ACH deposit, PayPal, other retailer gift card.
- Retailers accepted: More than 1,100 brands.
CardCash accepts gift cards from a wide variety of retailers and features a straightforward selling process. Plus, if youre just interested in trading your gift cards, you can even receive up to 7% more! After you accept their offer for your unwanted gift card, youll be instructed to either enter your card information to transfer the balance or mail it in to be processed.
Shopping around for a gift card? Score over 30% off select gift cards on CardCash.com no coupon or promo code needed!
How To Exchange Gift Cards For Cash
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A gift card is an easy and thoughtful holiday present and especially great for the person who seemingly has everything but sometimes the card doesnt line up with your interests or tastes. And lets be honest, sometimes you just want the cash.
You dont have to be stuck with a gift card that will sit in your wallet for a year, however, taunting you with its attractive dollar amount . Weve broken down the steps you can follow to redeem your unwanted gift cards for cash, and how to avoid potentially getting scammed in the process.
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Buy Items You Can Resell For Cash
Id mentioned earlier how I like to resell items on sites like Poshmark. Well, if I had a gift card to a retailer whose wares are popular on Poshmark, I could use that gift card to make some cash for myself. Heres what Id do.
First, Id research which kinds of clothing or accessories from that retailer people liked to buy on Poshmark. Then, Id use that gift card to buy items I plan to resell. Finally, once they arrived, I would photograph them and put them up for sale, as new with tags, on Poshmark.
So, its a roundabout way of getting cash for that gift card. But in the end, if the items sell, it would have worked.
Finally, if youre interested in signing up for Poshmark, use my link and be sure to enter the code SUDDENLYFRUGAL. That will get you $10 off your first purchase on the site.
How To Check The Remaining Apple Gift Card Balance
Most people forget about their gift card after the first use, and its hard to guess the remaining balance. If you need to check whether you have any cash left on your Apple gift card, you can do it by:
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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.
Return The Gift Card To The Issuing Retailer
This is usually the preferred way to deal with unwanted gift cards. But the complication is that not all issuers make it easy to do.
Here are some of the possible outcomes of returning gift cards to the issuing retailer:
- The retailer may exchange the card for cash, but at a discounted rate. For example, the issuer may refund 90% or less of the face value of the card.
- The issuer they refuse to accept a return of the gift card unless you have the purchase receipt. This can be awkward anytime you are returning a gift, including a gift card.
- The issuer may provide an in-store credit, which will do you very little good if you dont shop at their outlets in the first place.
Emma Johnson of WealthySingleMommy.com recommends that before you attempt to return a gift card to the issuer, that you first go back to the person who gave you the gift, and request the receipt. It will open up more options for you.
Failing that, she recommends that you investigate the issuers gift card return policy first.
Check the return policy of the issuer before attempting a return, Emma advises. You can usually do this by going to the issuers website.
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Turn Your Visa Gift Cards To Cash By Buying And Reselling Items
This may take a few extra steps to do but it may be the only other option on this list that lets you make money from converting your Visa gift cards to cash .
As mentioned, most stores treat Visa gift cards like credit cards. This means that you can generally use them to buy items at almost any store, so keep an eye out for things that are either heavily reduced or in high demand.
In both cases, theres a good chance you may be able to resell the item at a higher price than what you paid. This, in turn, will let you eventually get cash from your gift card.