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Visa offers prepaid gift cards that you can use to buy gifts for people who are special. Visa gift cards are great for any occasion; they can be used for a birthday, a wedding, or even a holiday.
Visa gift cards are great for people who are looking for gifts, but at times you may need cash to buy something else. Anyone can buy money with a Visa gift card, but there are some specific steps that need to be taken in order for it to be converted into cash.
In this article, you will find the easiest and cheapest way to transfer the money from a Visa gift card to your bank account. Don’t waste time transferring money to your bank account. By doing this, you can avoid paying fees and long-running processes.
Can You Transfer Gift Card Money Into a Bank Account?
Yes, moving money from a gift card to an existing bank account is doable, but it takes a little bit of brain power to do it. But don’t worry — there are plenty of other ways to get cash for gift cards. It’s easier than you think to get around this problem, too.
There is nothing worse than losing a gift card or forgetting that you have one. If you want to swap your gift card for a real cash gift, you can actually do that online. Selling your VISA gift card on sites such as Gift Cash is one of the fastest ways to get cash for it. There are other legitimate ways you can get cash for a Visa gift card, too, so make sure you keep reading!
Add it to your PayPal Wallet
PayPal is probably the best way to transfer funds from a gift card to your bank account. You probably already have a PayPal account, so you can easily transfer funds directly from your gift card to your bank account. When that happens, you’ll be able to link your gift card to your PayPal account. Just link the balance of your gift card to your PayPal account, and you’ll be able to pay with the gift card by linking it to your account.
It takes about five business days to transfer the money, but there are no fees associated with the standard transfer method. Pay attention to the transfer fees, because some methods can cost you up to 3% of the amount in your gift card account. See if they charge you extra for transferring funds from your gift card to your bank account.
Use a Gift Card Exchange Kiosk
You may have seen a machine that looks like an ATM in a shopping mall or at a big box store. You can easily sell gift cards using a kiosk at any store. That way, you can get cash for your cards immediately.
Just swipe your gift card and see what the store offers you for your money. But like buying gift cards online, the fees involved with this process can be quite high. You may not like the price that the exchange machine gives you, as many other people have said. This kiosk looks like an ATM and is easy to use.
Note that the availability of gift exchange kiosks varies by store. Call ahead to find out if they are available in your area. Make sure to call in the store to find out whether they have a gift exchange kiosk in their stores. Most stores charge you 15 to 40% of the amount that you paid when you bought the card. Sometimes it costs you more because you can get cash instantaneously from your credit card.
Link the Gift Card to Venmo
You can use this service similar to PayPal, but you also have access to the mobile app Venmo. It allows you to add balances to your gift cards online. It’s also a better option if you want to transfer money from your card to your bank account.
Follow the steps to create an account, add your gift card, and link it to your bank account. It takes one to three business days for a transfer to happen, but it’s completely free unless you choose the free instant transfer option.
There is a risk that Venmo may decline your gift card by mistake. They may decline it because they think that your bank information may be wrong. This is to protect their customers from being scammed. You can always contact Venmo Customer Support to resolve this.
Get a Money Order
Visa gift cards work similarly to debit cards, so you can also use them to pay for money orders. You will not have to worry about bouncing checks or losing cash using money orders. Only some stores accept money orders, so you need to check with them first before buying a money order.
Remember to keep the receipt that you received when you bought the goods, so that if there are any problems with the purchase, you can contact the store.
Banks take money orders the same way they take regular checks, so you don’t need to worry about extra fees. All you need to do is to present your money order and give your bank account details. You just need to show that you own the money order, and that you are able to show that you are the one who bought it.
Sell Your Gift Card Elsewhere
It’s really simple to turn your unwanted gift cards into cash by using a site that allows you to sell your gift cards online. It’s easy to sell your gift cards by going to an online gift card exchange website. All you have to do is go to their website and buy the gift card.
First, you’ll need to choose a good offer. If the offer is good, you can submit the card to the website. After that, the seller will review the card and send you an invoice.
After that, you should be able to receive the money that you earned. This method lets you get more money than buying gift cards at store kiosks. Keep in mind that not every seller wants to buy your Visa gift card, since offers come and go.