Can You Take Money Off A Gift Card
Sadly, probably not. You can’t simply take a gift card to an ATM machine and get cash immediately.
Why? Just for the simple fact that it is a gift card. However, there are plenty of options that you can do to get money in exchange for the value of the gift card.
You can likely get money off of a reloadable prepaid card. But that’s not the question. We are talking about gift cards. Based on our research, the best option to get cash in exchange for a gift card is to simply sell it for a discount instead.
How Can I Have My Amazon Gift Card Transferred To My Bank Account
This is a question that is frequently posted on the internet. However, whatever sum you have on your Amazon gift card cannot be transferred to your bank account. Furthermore, the chances of your bank accepting an Amazon gift card as a payment method are little to none. So, forget about transferring your Amazon account balance to your bank account. Its best if you use Amazon to redeem it.
Donate Your Gift Card
If youd rather keep another service from profiting off your gift card or dont find the exchange worthwhileor if you’d feel less Scroogelike by giving your unwanted card awaycontact your favorite charitable nonprofit and ask if they accept donated gift cards. Giving the card away could even lower your tax bill, if you itemize, and extend that holiday generosity even more.
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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.
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.
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Give Them Out As Gifts
One approach to change over Visa gift cards to cash is to utilize them like money. We referenced things like utilizing them to cover tabs, however you can likewise give them as a present. This can be an incredible option in contrast to giving somebody, state, cash in a card or a store-explicit blessing voucher.
Buy A Money Order With It
If you have a PIN you can go to a retailer like Wal-Mart or any place that sells money orders, purchase a money order then deposit the money order into your account. Money orders will only cost you a .70 cent fee and youre done.
This method may not work anymore as stores force non-chip cards to use credit rather than debit, even with a PIN. However, not all retailers have integrated this into their POS system.
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Do Gift Cards Expire Or Have Fees
Depending on the card, it’s possible that a gift card may expire if the money loaded onto it is not used within a specific time period. You may also pay fees to activate a new gift card or reload money onto an existing gift card. Some prepaid gift cards may also charge monthly or dormant account fees.
Gift Cards Suck Just Give Cash
Mashable’s series takes unpopular opinions and backs them up with… reasons. We all have our ways, but we may just convince you to change yours. And if not, chill.
Supply chain issues plaguing the lead up to the holiday season have payment services predicting that gift cards will make up a good portion of this year’s presents. Purchases of gift cards also saw a surge last year, as COVID-19 warded shoppers away from stores and apparently toward bad gift ideas.
The spirit of giving is nice and all, but this trend needs to die. Gift cards are just less useful money that expires, and it’s high time we stopped using them. Just hand over the cash.
Despite their popularity, gift cards are an inherently flawed proposition. The very nature of a freely given gift demands that it come with no strings attached, allowing your recipient to enjoy it as they see fit. But gift cards are tangled in strings, binding your giftee to a preselected vendor and imposing a deadline on their transaction.
A gift card’s value is also rarely utilised satisfactorily. Either your recipient purchases something within the card’s limit, leaving a few extra dollars for your sponsored corporation to claim, or they surpass the limit and have to supplement it with their own money, which is cash they otherwise wouldn’t have spent. Gift card users reportedly spend an average of 40 percent more than the value of the card, making it less of a gift and more of a subsidy.
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Regift Unwanted Gift Cards
I know some people frown on the notion of regifting all together. I have no problem with the practice. Because if you received something that you think someone else will love even more, why not give it to them as a gift?
So if you have a gift card or gift cards that are sitting unused, why not regift them to someone who might enjoy them? It will save you money in having to buy this person a gift. Of course, the one caveat with regifting gift cards is this: make sure the gift cards has 100% of its value on it.
Also, make sure the gift card was actually activated. Both of my daughter have been on the receiving end of gift cards that were never activated. They took them to Targetthey were Target gift cards, obviouslywent to use them to pay for something, and were told that the cards had never been activated. So, in essence, they received a worthless gift that they just had to toss in the trash.
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.
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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 Save On The Transfer Fee
If you are going to use this service regularly, you can save on fees by enrolling in the MoneyGram Plus Rewards.
With this program, you will save 20% on fees on your second transfer and 40% OFF on fees every fifth transfer.
If youre transferring a large amount, then taking advantage of the MoneyGram Plus Rewards program will save you lots of money!
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Selling Your Gift Card Online
Selling your card online will require you to be patient and willing to accept only a percentage of your remaining balance. Heres how you can do it:
- Find a reseller websiteWhen searching for a reseller website, be wary of amateurish-looking ones. Dont forget to do proper research before selling your gift card
- List your gift card on a marketplaceMany online platforms such as Reddit, eBay, and Facebook have marketplaces for gift cards. List your card for sale and wait for a potential buyer
My Thoughts How To Convert Amazon Gift Card To Paypal
Adding your Amazon gift card balance to an existing PayPal account may be accomplished in a matter of minutes by following a few simple steps. All you need is a clear understanding of which strategy will work best for you and which will not.
However, the procedures for both approaches are extremely different but it fully relies upon what you are most comfortable with. As a result, always choose the method that appears to be trustworthy to you and will assist you in transferring your valuable funds from your gift card to your PayPal account.
Thanks for reading this far.
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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.
Buying Products To Resell
I know youve probably heard about this method, but if you havent, here is how it goes.
The technique not only offers you a chance to get cash out of your Visa gift card, but you can also make some extra money. In essence, its about taking advantage of great deals.
Platforms like PayPal allow you to pay for products through prepaid gift cards, and various retailers accept online payments.
Therefore, you can make an online or in-store purchase using Visa gift cards through PayPal.
If you spot a deal that is ideal for a product you can buy, you can do so and then resell the product at a profit or at a breakeven price to get your cash.
This can be a great option if you are able to get cheap deals for useful products that you can later resell.
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Avoid Redeeming Credit Card Rewards For Gift Cards
Theres one more thing you need to know about making money from gift cardsin most cases, redeeming credit card points, miles or cash back for gift cards isnt the best use of your hard-earned rewards. While you can redeem credit card rewards for gift cards, youll often get a lower value than you could have earned if youd redeemed your rewards for statement credits, travel bookings or online shopping.
If you want to maximize your credit card rewards, its best to avoid turning your points, miles or cash into gift cards. Instead, take some time to learn which rewards redemption methods offer the biggest bang for your buck. If you have a Chase travel credit card, for example, your points are often worth more when you redeem them for travel through Chase Ultimate Rewardswhich means youre leaving money on the table if you redeem your Chase Ultimate Rewards points for gift cards.
The Discover It Cash Back Card
This credit card is a fantastic choice for people who want to get cashback on their everyday expenditures.
While shopping for groceries, restaurants, and gas stations, you can get 5% cashback. Additionally, it gives you the chance to receive 1% cashback on all other eligible purchases.
One of the advantages of the Discover it Cash Back Card is the ability to pay money to the Cash App. This is one of the most widely used credit cards featuring this feature.
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Where Can I Sell Egift Cards
Cardpool is a fast, easy, and accessible option to sell your gift cards. One of the key factors that makes this site appealing is the option to sell online gift cards, also known as eGift cards. Some of their competitors dont offer the option, so if you find you have an abundance of eGift cards, Cardpool is your best choice.
You can use Cardpool to sell a wide variety of gift cards, too, from the Banana Republic to Bed Bath & Beyond to Home Depot.
You have the choice to receive payment through a mailed check or with another gift card, and the site boasts that users receive up to 92% of the value of the card they sell. You can choose to accept the instant offer you receive from the Cardpool site, or you can wait it out to receive a better offer from a potential buyer.
Another option to consider for eCard sales is Gift Card Granny. While we did mention that they offer in-person locations for sales, the platforms preferred sales method is online.
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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Top Questions About Gift Card Exchange
While we were at the grocery store selling this gift card, a customer approached me with three questions about how the Gift Card Exchange kiosk works. She said shed walked by the machine many times, but was afraid to try it for fear the machine would take her card. I think her concern and questions are pretty common, so I want to answer them here as well.
One: Find Out If Your Prepaid Card Can Be Used Anywhere Or Is Limited To Participating Merchants Only
Visit your prepaid card companys website and look at the cards features. Can it be used anywhere that regular debit cards are accepted?
For example, certain cards have the following features:
The Card can be used to purchase merchandise and services anywhere Visa debit cards are accepted in the United States.
However, other cards are only limited to participating merchants:
Your Card can be used to purchase merchandise and services at any grocery store, specialty foods store, food truck or online food retailer in the US where Visa debit cards are accepted.
If your card can be used anywhere in the United States , then you can move on to step two. Otherwise, read our section on transferring gift card balances to your bank account.
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Get The Most Money For Your Gift Card
To make sure you get the most for any trade, visit a couple of different gift card exchange sites and compare offers.
Start at GiftCardGranny.com. This online gift card aggregator lets you select the merchant of your card and then easily compare offers from other reseller sites, including Cardpool.com and ABCGiftCards.com, to see the best deal among their partners.
Note that each gift card exchange uses different fees and payment methods. Be sure to read the fine print so you know exactly what you’ll get in return for your card.