Who Offered The Best Deal
In my research, I wanted to see who offered me the best rate for my hypothetical example. In my example, I chose a $50 Kohls gift card, seeing just about every website would accept it.
Heres what I was offered.
As you can see, the quotes were close, but some were much less than others. This goes to show you that you should always get multiple quotes before accepting the first one you see if you want an instant quote. Other than that, selling via Raise is often the best way to go.
Sell New Or Used Gift Cards On A Fixed
You may not able to get cash back on a Visa gift card in the traditional ways, such as at an ATM or cash back after a purchase, so you can consider selling it online.
You can sell it on sites like Raise, CardCash, Giftcard Zen, and Cardpool thatll buy your Visa gift card in exchange for cash. If your gift card is a virtual one, you can get instant cash for it.
You can also opt to cash it out through an app called Prepaid2Cash or find a gift card kiosk near you. The Prepaid2Cash app makes getting cash for your prepaid cards and gift cards easier than ever before.
Prepaid2Cash charges the lowest fees in the market and you can choose to receive your money the next business day or in 4-5 business days. It is available for both iOS and Android devices.
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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How Can I Turn My Egift Card Into Cash
Check the balance of your gift card. Take the gift card to a Gift Card Exchange kiosk. Enter the gift card information into the system. Review the cash back offer and decide if you want to accept it. Upon acceptance, print the voucher. Take the voucher to a cashier and get paid.
Can You Redeem A Target Gift Card For Cash
Target gift cards are not redeemable for cash unless required by state laws. If you live in Puerto Rico or one of the 11 cash back states, you can get money for your gift card. In case you dont, theres no need to worryDoNotPay can turn the situation around!
With our Gift Card Cash Back product, you can redeem your Target gift card for cash in a flash. The amount you can claim depends on the cash back state in which Target has a store. Check out the table below for details:
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Millions Of Unused Gift Cards Go To Waste
According to , experts estimated that $750 million in gift card money went unused in 2014 alone. This number continues to increase every year, which means money is literally just sitting around not being used!
Keeping track of several gift cards that have smaller balances can be tricky. If you have several small gift cards, they can add up! Easily turn these balances into cash through our gift card exchange.
How Do I Spend My Egift Card
Go to Shop. Click the eGift Card merchant you wish to shop at. Select the payment source from your list. Enter the amount of the transaction or the denomination you want to purchase. Click Purchase. Click Confirm. Once the barcode appears, show it to the cashier or enter the gift card number to complete your purchase.
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.
Check The Balance Of Your Gift Card
Even though the Gift Card Exchange machine will verify the balance of the gift card, youll want to know for yourself before accepting an offer. Plus, the kiosk will only accept gift cards with a balance minimum of $20. The easiest way to check the balance of your gift card is to look at the back of the card and either call the telephone number or go to the website listed.
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Donate Your Gift Cards
Fundraising committees are always looking for donations for their upcoming events. Whether theyre looking for prizes for their charity Bingo or needing some items to add to the upcoming silent auction, gift cards of any type are profitable options to generate income for a worthy cause.
If you happen to have a gift card to a popular retailer such as Sams Club, or you have a Walmart gift card, a fundraising committee may use it to purchase supplies they need for an upcoming event.
Another option is to save your gift cards for an annual Angel Tree event. An Angel Tree is a holiday season charitable cause that requests specific gift cards that would benefit a family with young children. Just make sure you check the balance and assure that the cards youre gifting do not expire anytime soon.
Whatever method you choose, donating your card to a cause you are passionate about is a way to purge the unused gift card and get the most value from it at the same time.
Add It To Your Venmo Account
Another awesome way to convert a Visa gift card to cash is by adding it to your Venmo account. Not a lot of people know this but Venmo actually allows their users to add Visa gift cards to their Venmo accounts.
How do I transfer a Visa gift card to my bank account on Venmo?
Here is how to transfer a Visa gift card to your Venmo account:
Once you do that, you will be able to transfer your funds to your bank account. If you come across any issue, simply reach out to the Venmo support team for help.
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How Can You Protect Yourself
These simple steps will keep you safe against unscruplous sellers and fraudulently obtained gift cards
- Check your gift card balance before going to the store.
- Use full balance of the card within 45 days of the purchase. Even if you checked the balance and it was fine within 45 days, the guarantee expires at 45 days from your purchase date.
- All you need to do is use the card within 45 days.
Turn unused gift cards into cash or buy discount gift cards to save money every time you shop with CardCash.
How Do I Turn My Vanilla Visa Gift Card Into Cash
The Vanilla gift card is a Visa prepaid gift card that is available for purchase in amounts from $10 to $500. Its great for special occasions and a great gift to give to people if you arent sure what to get them for an occasion.
Similar to a regular Visa gift card, if you are looking to convert a Vanilla Visa gift card to cash, you can use all the options recommended in this post to get started. So even though you cant get money directly from a Visa Vanilla gift card, you can use the options in this post.
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First Check Your Balance
Before you throw any of your single-use gift cards away, make sure to check the remaining balance.
With almost every card, there will be multiple ways to do this:
- Online on the vendors website
- In store at one of the vendors outlets
Any remaining balance is good news. If it is a considerable sum, you can decide whether you want to use it to spoil yourself with something from the vendor.
If its a smaller amount, $5 or less, you may want to convert it to cash.
Buy A Money Order With The Visa Gift Card
Places such as Walmart let you purchase a money order using a Visa gift card. Keep in mind this can vary depending on the location, so make sure to call the Walmart you are going to visit to make sure this option is available in your area.
Once you receive your money order, you can deposit it into your bank and use it as cash. If you arent sure how a money order works, check out this article by Nerd Wallet. It goes through everything that you may need to know before getting started with getting a money order.
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Get Your Cash Payments In Just 15 Minutes With Prepaid2cash
Prepaid2Cash is an app that allows you to easily scan your prepaid Visa, Mastercard, and American Express cards. Plus, they also accept gift cards from over 100 popular brands like Walmart, Best Buy, Target, Nike, and more! The highly-rated P2C app for iOS and Android will scan your card in seconds and get you your cash payout fast!
After verifying your card details and submitting your transaction, you can choose to receive your payment for a prepaid card in as little as 15 minutes via debit card, or on the next business day via direct deposit to your bank account. For gift cards, youll receive your payment within 2-3 business days.
Best Places To Sell Gift Cards For Cash Instantly
Gift cards have always been a popular gifting option especially around the holiday season. They also make for a safe bet when youre confused about what to buy for the other person.
But for the many who get such gift cards every season it become a tad difficult more so when the cards are not exactly in sync with their tastes and when they would much rather prefer to have got cash instead.
So what do you do in situation like this?
Well you could consider trading or selling your unwanted gift cars for cold hard cash instead. Surprised? Well, dont be. Its very much possible to turn gift cards into cash.
And to make it even easier for, we have listed 17 best places to sell gift cards online which will give you some instant cash. Take a look.
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Sell It On The Raise App
Another way to convert a Visa gift card into cash is by selling it on an app called Raise. Raiseis a site where you can sell your unwanted gift cards with ease.
Its really simple! All you have to do is find all your unwanted gift cards then list them to sell on the platform. Lastly, you will get paid either via Check, PayPal, or by direct deposit when someone buys the gift card.
Raise is an amazing site if you have unwanted Visa gift cards or any other gift cards from stores such as Target, Amazon, and Walmart. In addition to selling unwanted gift cards on the site, you can save money when you buy other gift cards on their site.
You can also check out their coupon section to find some of the latest deals on popular stores and brands.
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How To Sell Gift Cards For Cash Safely Online
Sure, its the thought that counts. But sometimes you get a gift card you really dont want or cant use.
Maybe you dont eat at that restaurant. Maybe theres no store nearby. Maybe theres not enough value on the card and you would need to spend your own money to buy something.
Unless you can regift it, chances are youll toss that card in a drawer or put it in your wallet, and hope youll find a way to use it someday. But will you?
About 6 percent of all gift cards are never used, according to Anduro Marketing. If you havent used the card within 180 days, chances are you wont, according to the Paytronix Annual Gift Card Sales Report 2019.
Rather than losing money, why not sell the card? You wont get full value for it, but its better than losing the card or forgetting to use it. Thats a 100 percent loss.
Id rather see people spend their gift cards, redeem them, and get the full value, but I really like the fact that theres a backup plan if you cant do that sell them, said Shelley Hunter, Gift Card Girlfriend at GiftCards.com.
When To Sell Your Gift Card
Gift card exchanges tend to offer lower resale values immediately after the holidays, warns Romanelli. There is so much supply coming into the market that many cards dont sell for as high as they might in the summer,” he says. He notes that some people hold on to their gift cards for an extra month or so, in order to earn a few percentage points more in returns.
Just make sure you don’t wait so long that you forget to exchange your gift card at all, warns Shelley Hunter, GiftCards.com’s content manager. The longer people hold on to a gift card, she says, the more likely they are to forget about it and never exchange or sell it.
People shouldnt have heartache over not getting 100% of the cards value back, because theyre not getting any value out of it by keeping it, she says.
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Dont Sell Gift Cards On Ebay
EBay has always been a popular place for buying and selling things online but it might be the worst way to sell gift cards.
First, an eBay buyer isnt likely to buy your gift card for more than 80% to 90% of its value. For a $100 gift card, you can count on a loss of between $10 and $20 right off the bat.
On top of that, you may be responsible for eBays insertion fees, a final value fee and a performance fee if your eBay seller account isnt in good shape. These fees eat further into your earnings.
You may be thinking, hey, dont Raise and Gameflip also have seller fees? They do. But these marketplaces specialize in selling gift cards, so the base value of your gift card is much likely to be higher on Raise or Gameflip than eBay. Also with eBay, theres no built-in way to verify your gift card code or balance making the selling and shipment process much more of a hassle.
In short, stick with one of the five gift-card selling websites above to get the most money for that ol AppleBees gift card thats nearly fused together with your wallet.
Can I Get Cash From A Visa Gift Card If I Have A Pin
It used to be that gift cards had to be run as credit transactions at the point of sale because they didnt come with the PINs needed for debit transactions. Prepaid cards typically have PINs so they can be run as either. In 2013, the Federal Reserve passed a law requiring that people have the option to get a PIN for a general purpose gift card, so they have to decide which type of transaction to perform. This law, however, led people to believe they could use the PIN to withdraw cash from their Visa gift cards at an ATM or via cash back at a merchant POS. Thats not the case. The PIN simply allows gift cards to be run as debit transactions.
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What Is A Gift Card
A gift card is also a type of stored value card loaded with funds for future discretionary use. Only it contains a specific amount of money. Once this sum is spent down, the card can no longer be used. Gift cards also have expiration dates, which are often much shorter than that of prepaid cards.
Gift cards can be purchased in several different formats. The most familiar type is what’s technically known as a closed loop card: It is good only at a particular merchant or certain retailer and bears that outfit’s name and logo. Some retail groups will allow the same gift card to be used at any of their affiliated stores.
Gift cards began with specific stores. Now, however, many of the major charge or credit card issuers, like American Express, Visa, Discover, and MasterCard, are also offering gift cards, good anywhere the regular plastic is accepted. Known as open-loop cards, these are most easily confused with prepaid debit cards, especially since some of them are reloadable as well. These cards may carry a one-time activation fee.
|Prepaid vs. Gift Cards|