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HomeFactsHow To Take Money Off Of A Visa Gift Card

How To Take Money Off Of A Visa Gift Card

Is It Easy To Get A Prepaid Debit Card

How To Get Money Off A Visa Gift Card | Getting Paid For Surveys Online | Part 2 Of 3

Just like debit cards, it is easy to get a prepaid debit card. There are no restrictions on or credit histories, as it happens with unsecured credit cards. Issuing out prepaid cards is a business, and the concerned institutions make a lot of money. When making transactions, some deductions accompany your transactions, which go as a profit to the card issuer.

The same applies to debit cards. Any bank would like to issue a debit card to you since they know that a debit card brings a lot of profits to them when you buy goods and services, as well as when you withdraw money in an ATM. Statistics show that people using payment cards to shop and pay for products and services usually spend a lot as compared to those using cash.

Link Visa Gift Card To Your Paypal Wallet

PayPal allows you to link your Visa gift card to your account just like a credit card or debit card and use it at checkout.

Whats even better is that you can transfer your funds to your PayPal-linked bank account, essentially getting cash out of the card.

So, how do you link your visa gift card to your PayPal wallet? Simple. Log in to your PayPal account and click on the Wallet tab followed by Link a card on the next page.

Itll open a form where you fill in the card details.

You may have to register your billing address with the card issuer in case of an error message when trying to link the card to your wallet, but thats about it. The process should be straightforward.

Withdrawing the funds to your bank account is free for a standard transfer that takes one to three business days which is great if you dont mind the wait.

If youd like to speed up the process, you can opt for an instant transfer that attracts a 1% fee, calculated from the withdrawal value.

Converting Visa Gift Cards To Cash

These are the top ways to get cash for your Visa gift card. I hope you found this article useful.

If you wanted to find ways to make Visa gift cards you can check out these apps that pay you real money.

Do you know of any ways to get cash out of a Visa gift card that I missed?

None of the authors, contributors, administrators, or anyone else connected with My Millennial Guide, in any way whatsoever, can be responsible for your use of the information contained in or linked from these web pages.

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Can I Buy Something And Return It To Get Cash Back

Many people ask if they can just buy something using a gift card and then return it to get cash back. This round-about solution depends on the sophistication of the merchant point-of-sale system. Many stores have their transactions on lock-down where money given back to the consumer for merchandise returned is automatically credited back to the card used to pay for the item. Youll also get a merchandise credit if you return an item without a receipt. Though I understand some people have successfully returned products to get cash back, I cant guarantee youll have a similar experience. Stores are increasingly looking to prevent this type of transaction so I would say getting cash off your gift card in this manner wont be a solution for long.

Five: Follow Additional Instructions From The Prepaid Card Company And Perform The Transfer Online To Your Bank Account

TARGET VISA GIFT CARD

Every prepaid card provider will have a slightly different set of instructions so make sure to follow the instructions carefully.

At any point, if youre unsure of what to do, your prepaid card provider should have a customer service hotline that you can call for help.

Here is an example of the detailed instructions provided by the Key2Benefits Prepaid Card website.

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Sell Gift Card To A Friend

An easy and quick way to convert a prepaid card to cash is to sell the gift card to a friend. If you have gift cards you want to liquidate into cash, ask your friend groups if they want to buy it.

The benefit of selling a gift card this way is that you can avoid paying any commissions or fees that are normally charged when selling a gift card online.

To make it worthwhile for the buyer It would usually be a simple case of offering the gift card for a little less than the value on the card. For example, the gift card has a $20 balance, you could ask for $15 cash for it.

Pro Tip Hit up your Facebook friends for a fast turnaround time on converting your gift cards into cash. You would be surprised how many people will reply when you offer a small discount!

Using this method to convert a visa gift card to cash is quick and easy. You will have the cash straight away to use for your own needs.

Bank Of America Edd Card

If you have the Bank of America EDD Prepaid Debit Card or the EDD Prepaid Digital Card, you can transfer money to your checking or savings account. You can also choose to perform a one-time transfer or a recurring direct deposit transfer to your bank account.

The EDD Digital Card is actually designed for people who prefer to directly transfer the funds to their personal bank account.

  • Go to the Bank of America EDD Debit Card website
  • Follow the instruction to set-up a one-time transfer or a recurring transfer for EDD Digital Cards
  • If you enroll in a recurring transfer, the funds will automatically transfer to your bank account within 1-2 business days after the EDD deposits the funds to your Digital Card.
  • Alternatively, you can also call Customer Service 1.866.692.9374.
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    Add Gift Card To Paypal Wallet Online

    A feature of using PayPal is the option to add Visa gift cards to your PayPal wallet. Once you have added the gift card to your wallet you can use the balance just like cash. This means you can make a purchase from any merchant that offers PayPal as a payment method. Most online retailers accept PayPal so you now have a huge range of retailers that you can use the gift card balance with.

    Not only could you spend it like cash with merchants that accept PayPal, but as it is now cash there are other ways you can use the balance. You can transfer the money to your linked bank account or send the money to other PayPal users. Keep in mind that fees may apply of up to 3% when transferring money using PayPal.

    How do you add a gift card through PayPal?

    Adding a gift card through PayPal is extremely easy. You just have to follow 4 simple steps, they are:

    • Log in to your PayPal account.
    • At the top of the page click on Wallet
    • You should now see an option on the left-hand side that says, Link a card, click this option.
    • On the next screen fill in the gift card information and click add card

    Thats it! In 4 easy steps, your gift card is now linked to your PayPal account and the balance can be used as cash.

    If you do experience any problems adding the card such as an error message, contact the card issuer. Sometimes a card must be registered first to make sure the address matches. Once that is done there should be no trouble linking the card to your PayPal account.

    Convincing Square To Accept The Visa Gift Card

    How To Get Cash Off A Visa Gift Card | How To Get Cash Out Of A Visa Debit Gift Card
  • 1Appear like a merchant. While Square indicates it accepts Visa gift cards, there are mixed reports that Square will reject a Visa gift card if it believes you are using the service once to transfer a balance. In order to avoid this, you need to convince Square that you are a regular merchant or find a friend that is an established merchant to make the transfer for you.
  • There is no guarantee this will work, but it will increase the likelihood of success.
  • You can skip this part and try to make the gift card transfer following the steps in the next part. Just be aware that it may fail.
  • 2Open the Square app and enter an amount for a transaction. This is a transaction that you create and pay with your own funds or credit card. You are not actually buying or selling anything. This creates a transaction record in Square before trying to transfer the Visa gift card balance. It is recommended that you enter an amount in Square that is not too large since it charges a transaction fee. You will get this money back in the bank account that is linked to Square, it is not disappearing.
  • 3Input the credit card information for the charge. You are not using the Visa gift card yet, so choose another card for this transaction. It does not matter what kind of card you use.
  • 4Conduct a few more small transactions with your own funds. This will make you appear more like a merchant and also serve as a test ahead of a the larger balance transfer.
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    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.

    Can I Return A Store Gift Card That I Dont Want

    There are not federal or state laws that dictate whether or not a gift card can be returned so it is up to each merchant to set that policy. Most store and restaurant gift cards that I see have terms printed on the card, on the packaging or on a website that say, This card is non-refundable and non-returnable.

    I have seen, however, that some stores will allow you to return a gift card within a short period of time after purchase so long as you have the purchase receipt and havent used the card. Target, for example, has a generous return policy.

    The Target.com FAQ says, Physical Target GiftCards can be returned in store with a receipt if unused and Your Target® Visa®, Mastercard® or American Express® Gift Card can be returned to any Target store with a valid, original-purchase receipt. Your card must be new, unopened, contain all original packaging, and must be returned within 90 days of purchase.

    Still, this is an exception. Even Nordstrom, the department store well-known for having a generous customer return policy says, Gift Cards may not be returned or applied as payment on any account.

    If you have a store gift card that youd like to return, check the back of the gift card for terms and conditions, check the retailers website for information or drop by the store to ask.

    If you are willing to accept less than face value for the gift card, then you could sell it to a gift card reseller for cash instead.

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    Gift Card Terms And Conditions

    Exchanging gift cards for cash using one of the listed methods is extremely simple. In most cases, you can have the cash quickly and with no fuss.

    However, to successfully liquidate gift cards for cash it is important to keep in mind the terms and conditions of the gift card. Terms and conditions could include:

    • Expiry date Make sure the card is valid and check existing cards to know when they expire
    • Inactivity fees Some cards may charge a fee if not used within a certain time, check this to avoid charges
    • Non-transferrable Although rare, some cards may not allow others to use them
    • Specific retailers Certain cards may only be redeemable at specific retailers

    This list isnt exhaustive, but these are the main terms and conditions to be aware of. If you manage your gift cards, then you can avoid things like missing out due to the card expiring.

    Whenever you get a gift card its worth checking the terms and conditions for any exclusions that may hinder liquidating for cash.

    How To Use A Visa Gift Card At An Atm

    Buying Money Orders at Walmart (2017)

    Visa gift cards are like prepaid credit cards. You can purchase one for yourself or, as the name suggests, for a gift. These cards come preloaded with an amount of money and usually can be refilled, too. These cards can be used at all retailers that accept credit cards with the Visa logo. However, only some gift cards can be used to withdraw cash from ATMs.

    Tips

    • Although Visa gift cards are universally accepted at retailers who accept Visa credit cards, there are very few gift cards which can be accepted by ATMs for cash withdrawal. You should review the terms of your gift card in order to determine whether or not this action is possible.

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    Visa And Mastercard Gift Cards As Gifts

    One method we mentioned earlier was to use gift cards to pay bills, then you have the cash you would have used for the bill to use for whatever you like.

    A similar idea to this is to give gift cards as presents. Doing this means you still have the cash you would have used for the present and the recipient has the gift card to use for whatever they like.

    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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    Sell Trade Recharge Or Regift

    There are many people who try to sell their unused gift cards on Ebay. This may work for larger cards, but its still a hassle. Id much rather make it work some other way. Also, sites that allow you to trade unused gift cards are becoming popular but again, I dont want to have to mess with mailing addresses and postage for a tiny balance. There is still the possibility of reloading a card, if its allowed .

    Maybe you could regift a card that had its original balance on it? Any other ideas?

    Use The Cash App To Send Yourself Money

    â How To Add Visa Gift Card To Paypal Balance ð´

    This option is new and gives you the ability to transfer the full visa gift card balance. However, it may not work for everyone as the app has caught on and doesnt allow it. But its pretty easy to do, first, download the free Cash app for iOS or Android.

    Then you can send yourself money using your visa gift card as the funding source. In order to receive your money simply add your bank account in order to receive your full balance. Just know that there is a 3% fee when personal payments are sent from a credit card when using the Cash app. However, thats not that high compared to other options. For example, If you are trying to cash out a $50 gift card, youll only lose $1.50 in fees.

    Pro-Tip: If you sign up using this link, youll get a free $5 to help cover the fees. Or check out the latest Cash app referral codes.

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    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.

    Resell Your Visa Gift Card

    This is a pretty straightforward method of converting your Visa gift card to cash. You can list your Visa gift card on local selling apps and get cash right away if you can find an interested local buyer. Keep in mind that you will likely lose 5% face value of the value of your gift card by selling it here as many buyers will low-ball you with offers.

    But you can increase your odds of selling it by listing it online on classified sites such as Craigslist or eBay to liquidate your Visa gift card. While selling it locally reduces the fees you pay, youll likely get a solid exchange rate by selling it online.

    For example, on eBay, at times you can get the exact value on the Visa gift but just keep eBay fees in mind. They are known as selling fees and theyre a percentage of an items total sale price. For most sellers, its 10% or lower in 2020.

    Overall, selling your gift card is a great choice if you wanted to get rid of it quickly and get straight cash.

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