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.
Does A Prepaid Card Support International Money Transfer
You can send money from anywhere to any country in the world. The world is now a global village in all matters related to information and communication technology. When sending money to someone else outside your country, you need the account number of the person and the routing number of the institution receiving the payment. You also need to understand how to transfer money using the routing number and account number.
Before hitting that send button, always confirm that all the details are correct. Again, you should always call the recipients and ask if they got the money you send to them. If they take long to receive the money, you should always make a quick follow up with your card issuer to inquire about the problem.
Prepaid card accounts can also receive money. Your friends and employers can send you money from wherever you are. So in the real sense, a prepaid card is very convenient.
Why Cant I Get Cash Off A Visa Gift Card
Gift cards are marketed as gifts, whereas prepaid cards are typically marketed as an alternative to a traditional checking account. This distinction is important because the latter type of card can be reloaded with additional funds, be used to get cash from an ATM or allow the holder to get cash back from retailers who support this.
To activate prepaid cards, you typically need to provide personal information such as your name, address, date of birth and social security or drivers license number. Merchants are also required to report suspicious purchases and track individuals buying large amounts of prepaid cards for five years. Gift cards, on the other hand, can be purchased and activated anonymously. As a result, anti-money laundering laws prevent gift cards from being used to get cash or from having a value over $1,000.
Below are a couple of scenarios to help you understand the reasoning behind this.
1. Clean Cash. A thief uses stolen money or money from drug sales to buy a prepaid card, then goes to an ATM to withdraw cash from the card. The money is now clean, but because the card has to be registered and merchants are required to track purchasers of prepaid cards, the bank has a potential way to identify the person laundering money. Since gift cards dont need to be registered, cashing out is not allowed.
Those are just a couple of examples and not even the worst.
Happy Gift Carding!
~Shelley Hunter, Gift Card Girlfriend
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Find Ways To Pay Yourself
I dont advise trying this as it is against PayPals TOS but some people have mentioned online that they paid themselves with ease. Do this at your own risk of losing your account.
The process is simple though, you could get a friend to send you money and have them use the card. The only caveat is that you would lose 3% in the process due to Paypals fees. I dont recommend this, however, it is an option.
What Happens When I Lose My Prepaid Debit Card
There is nothing to worry about when you lose your card as long as no one knows your PIN as they cannot withdraw money from your account. However, there is a danger of someone using your card to make transactions of goods and services. You should always do the following things to ensure that your account is safe.
- Keep your PIN private. I like advising people to keep their PIN only to themselves. Even your wife should not know the account number unless it is a joint account.
- Report immediately upon losing your card. Always have the card issuers contact information with you so that you can easily report any loss of the card.
- Always check your account for any illegal authorized transaction. If you discover any unusual deductions, consider changing your account details such as account number and blocking all the cards.
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Use The Cash App To Send Yourself Money
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.
Pay Your Bills With Your Visa Gift Card
Using your gift card to pay a bill is exactly the same as converting your Visa gift cards to cash although youll never actually get to see the money.
Just remember that because the Visa gift card is treated the same as a credit card, youll also incur any credit card fees, so make sure you do the math to confirm that its worth it.
How do you liquidate a Visa gift card by paying bills?
This can be done with any billing provider that accepts Visa credit cards for bill payments, as the Visa gift cards are treated exactly the same.
Not every single company will allow this, but youll almost certainly be able to use your card in this way for things like topping up your phone credit, buying groceries and gas or renewing your subscription at the local yoga studio.
Sell Your Visa Card To Other People
There are always people around you who are willing to buy gift cards cheaply. And through this, you will have evaded the commissions incurred in online exchanges.
That said, you probably have to accept less than the balance on your card for people to buy your card.
Additionally, if you are going to sell a physical card to a buyer who is far from your location, keep in mind the shipping cost.
Start by check out sites like Craigslist or eBay for such arrangements, and ensure due diligence to avoid scammers.
Give Them Out As Gifts
Sometimes, you may be required to give out gifts, and in most circumstances choosing the right gift for a friend or family member can be challenging. But if you have a Visa Gift card you, can give it to a friend and let them decide on what to buy.
What I like about this gift idea is that you can get Visa Gift cards for $1, $10, $100, $200, and all the way up to $500. This makes them a perfect alternative to high-value gifts.
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Are Visa Gift Cards Considered As Cash Advances
Depending on how you purchase a gift card, the transaction can be treated as a cash advance. This is usually applicable when you use a credit card to pay for the gift card. In such a case, you will be charged a cash advance fee, and on top of that, youll pay a high interest rate.
Altogether, visa cards are considered as cash advances when buying from a financial institution or when buying a prepaid card instead of a gift card.
Sell Your Visa Gift Card Through An App
Another option is to sell your Visa gift card on various apps that will buy it from you in order to resell it.
While this can be a quick way to convert your Visa gift cards to cash, the fees are really steep so this should probably only be your last option if the others arent possible for some reason.
For example, Raise has an app that does this for both iOS and Android, although theyll take 15% commission for doing this. Ouch.
A similar one is Prepaid2Cash, another site that has an app for iOS and Android in order to trade in your Visa gift cards for cash. This one works slightly differently, in that:
- First you tell them the brand of the gift card
- They then send you an offer through the app for the card
- You have no obligation to accept this offer but once you do, theyll deposit it into your account in up to five business days
This means that the fees they charge are incorporated into the offer, so its not entirely transparent. They state, however, that the offer will be up to 92% of the card balance, meaning the fees are at least 8%.
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Cash Your Gift Card On Jour Cards Store
Are you struggling to find a simple route to exchange Visa cards for cash? Try Jour Cards Store. This is an online payment and games e-shop. The platform comes highly recommended with a 4.3-star rating on Trust Pilot.
They offer several services including the exchange of Visa gift cards for liquid cash. The store uses online currency through platforms such as PayPal and Bitcoins.
Jour Cards gives you 80% of the total value of your Visa Gift Card, and take the remaining 20% as commission. Before the deal goes through, the company tests your card for viability through their exchange department.
Jour Cards store will either wire your money to your e-wallet or account email. The whole process takes around 1 to 3 days.
Other Jour cards offers include steam wallet gift cards.
Complete Your Bank Details
After you click Next, you will be taken to another page. Enter your Receivers details there. This will be data like your name, address and account or debit card information. As soon as you do this, click on the Next option. As per the MoneyGram site, many account deposits are finished in no time, subject to banking hours and the accessibility of the system.
Can Gift Cards Be Used To Launder Money
Yes, both store gift cards and prepaid cards have been used by criminals to launder money for the simple fact that they allow anonymity. Generally, these cards can be used to avoid causing laundering alerts.
For example, one can pre-load large amounts of money into a prepaid card and transfer small amounts into bank accounts a process known as smurfing. This is very common with drug traffickers and is obviously illegal.
How To Cash Out Money Off A Gift Card Through Paypal
- Log in into your PayPal account
- Select Wallet option
- Click Link a card or bank and continue through the prompts
- When PayPal asks for your personal information, add your Visa Card details. Then click link card
In case an error occurs, which is normal, there will be a need for you to register the card with your issuer so that an address is linked to the Visa card. After that, PayPal should have no problem accepting it.
Create a PayPal account here.
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How Does A Prepaid Debit Card Differ From Debit And Credit Cards
Although all the cards look alike, there are a few differences that arise with them. For instance, you do not need a bank account to have a prepaid card. Debit and credit cards require you to have a bank account to acquire them.
However, you can link your prepaid card into a bank account if you wish so. Most prepaid debit card issuers typically request you to connect your card to a bank account. Linking your prepaid card to your bank account makes it possible to access money in your account quickly.
Most prepaid debit cards with a mobile check deposit link to a bank account so that the check can undergo secure processing. Mobile check depositing involves using the camera of your smartphone to take pictures of your check both front and back and transmitting them to your bank for processing. The process requires a unique app from your card issuer that ensures that all the information is safe.
Secondly, a prepaid debit card is different from a credit card in that you only spend your card account, while credit cards allow you to borrow money from your bank to pay later at the end of the month. On that issue, the prepaid debit card works the same as the ordinary debit cards.
Buy Other Gift Cards Using Your Visa Card
If a particular store prohibits you from buying items using your visa card, you can use your card to buy the stores gift card and now use it to pay for items in that store. This method is as good as getting liquid cash for in-store use.
Moreso, if you search the web keenly, you will find some store gift cards that are 20% off meaning you will get 20% more value from your Visa Card balance on popular stores like Walmart and Amazon.
Apart from the discounts, you can reap other benefits such as getting free Amazon credit for exchanging Visa for Amazon Gift cards.
Download the Survey Junkie Pulse app to take surveys and get paid. Earn Cash or GiftCards to get started!
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Can I Use My Gift Card At Merchants Where A Tip May Be Appropriate
Yes. To make an online or phone purchase, youll need to register your card by visiting navyfederal.org/mygiftcard, entering your username in the Username field and clicking Sign In. Please note, if you have not created a username for your gift card, select Need Username? under the Username field. After signing in, select My Profile under My Settings and enter your name, address and phone number.
Be sure the balance on your card is enough to cover the bill and the tip. If not, the transaction will be declined.
Transfer Visa Cards To Bank Account
You can transfer Visa gift cards to your bank account, although not directly. As much as gift cards are treated as credit cards, the balance isnt transferable to a bank.
But there are some ways to make the conversion. Much of this involves going through digital wallets, money transfer services, and gift exchange kiosks.
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Another Way To Convert Your Gift Card Balance To Become As Good As Liquid Cash Is By Using It To Pay Your Bills
How to withdraw cash from a visa gift card. Converting your visa gift card into cash can be done, but you have to know how to do it because it isnt as easy as going to the bank and asking for the cash. Use a google wallet card to withdraw cash from visa gift cards. Again, you can use some tricks to convert your visa gift card to cash and then deposit the money to your bank account, but you have to take this step first.
We provide visa/master/gift card solution. Inc.the visa gift card can be used everywhere visa debit cards are accepted in the us. What you are referring to is a gift card that has the form and functionality of a debit card.
No hidden cost or extra fee. Is a visa gift card the same as cash? Ask the bank representative if you can use your card at an atm or banking center to withdraw cash.
Withdraw cash from wallet, local bank & atm. Pay your bills using your visa gift card. Carefully review the terms and conditions that came with the visa gift card.
In this scenario, be sure to choose the option for payment between friends & family and not the option for purchasing goods and service. Can i withdraw cash from my visa gift card? A visa gift card is definitely not the same as cash as it has some limitations.
The only 1 visa gift card is a prepaid card that can be used wherever visa cards are accepted and processed electronically. Open an account in minutes. These are called open loop gift cards.
Give them out as gifts.
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