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A gift card is a form of payment card that you can use to purchase goods or services from a certain business in exchange for a fixed amount of money. The card is termed a gift card since it is given as a gift. You can use a few strategies to transfer money from a gift card to your bank account.
We frequently receive gift cards and are unsure how to use them. If you need cash, you can effortlessly transfer funds from your gift card to your bank account. You can deposit gift card funds into a bank account in a number of ways.
Visa is one of the many service providers that sell gift cards to businesses. American Express, MasterCard, and Discover are among the others. A gift card is typically a one-time card that you use once and then discard.
A few are reloadable, which means you can add money to the gift card account and use it again. Reloadable gift cards are similar to prepaid cards in that they can be used without a bank account.
A gift card has the disadvantage of being insecure. Someone else can collect a lost gift card and use it for numerous purchases if you lose it on your way to the shopping center.
A gift card is not the same as a credit, debit, or prepaid card that may be used everywhere. The majority of them are store-specific, which means you can't use them elsewhere.
How to Transfer a Visa Gift Card to Bank Account
What is a Gift Card and How does it work?
Gift cards are designed to be used for purchasing goods and services, and transferring money with them can be difficult, unlike debit and prepaid cards, which can be transferred from one card to another.
When the card balance is depleted, it becomes unusable and can be destroyed. Though Some gift cards can be reloaded and used again and again.
A gift card can be used at stores in the same way as a debit or credit card can. All you have to do now is swipe your card over the POS system or use it with regular credit card terminals. To pay for a good or service, you will deduct the amount you spend from your overall balance.
What is a Visa Gift Card?
A Visa gift card is a prepaid card that has money placed on it. You can either utilize the gift card's cash balance for purchases or cash it out. The gift card can be used to:
- Send money to relatives
- For shopping purposes
- Pay for your journeys.
- Friendship gifts
How do I get a Gift Card?
Gift cards, just like prepaid cards and debit cards, are not difficult to obtain. Gift cards, are normally restricted to the purchase of goods and services.
A prepaid card, on the other hand, can be used to purchase products and services as well as send money to others. A prepaid card can also be used to transfer funds to a bank account.
You must request a gift card from the most appropriate gift card issuer available. Well, do you want a Gift card? Then we have the solution and this is by checking this guide and getting the 12 Best ways to get a Free Gift Card.
Complete Guide to Transfer Money From Gift Card to Bank Account
You can use one of the methods listed below to transfer money from a gift card to your bank account.
- Add the card to your PayPal, Venmo, or Money Gram account to transfer the balance to your own account.
- Purchase a Gift Card Exchange Kiosk voucher and deposit the funds into your account.
- Choose a gift card selling program that pays you via direct deposit, allowing you to transfer your Visa gift card to your bank account using the selling price.
- Purchase a money order with your card, which will be put into your account.
1. Transfer Visa Gift Card to Bank Account Venmo
Well, there are many ways you can transfer your gift card balance to your Bank account and transferring to Venmo is one of the methods. Well, Venmo is an online Bank and if you have a Venmo account, then you will be able to send money to your bank account. To do that, you can follow the steps below. They are;
The first thing to do will be to download the Venmo app on Play Store or on Apple Play.
After downloading and Installing, then you will have to sign up if you don't have an account, or sign in if you already have an account.
In the application, you will see the option to add gift card in the transfer tab.
Then you will add your gift card, fill in your bank details, then click on send for the transfer to be completed.
If you have done this and you are not a Venmo user, but a Cash App user, then you can use the below method and transfer the money from your Venmo account to your Cash App account.
2. How to Transfer Gift Card Balance to Bank Account Paypal
The Visa gift card can be transferred to your PayPal balance and then to your associated bank account. If you want to convert Visa gift cards to cash, go to the Card Cash website and transfer gift cards to PayPal for quick payout.
Gift cards from particular businesses and restaurants are accepted by Card Cash only. As a result, you'll need to buy a gift card from a store who accepts Card Cash. But to transfer visa gift card cash to Paypal, then follow the steps below;
Visit the Card Cash website and click "Sell gift cards" to transfer money from a gift card to a PayPal account.
- Then, enter the merchant's name as well as the gift card balance.
- Click "Get Offer" after that. You'll see how much you can get with your gift card.
- Click "Get Cash" and then "PayPal Express" if you accept the offer.
- Click "Connect with PayPal" after entering your gift card number and pin.
- You can then transfer your PayPal balance to your associated bank account once you've received it.
This is it and you can now send Gift card money to your Paypal Account. If you are not really a Paypal user, but a Cash App user, then check this article and transfer money from your Paypal Account to Your Cash App.
3. How to Transfer Visa Gift Card Balance to Bank Account MoneyGram
MoneyGram is the United States' second-largest money-transfer company. It's fast, cheap, dependable, and, most importantly, secure. To get started, go to MoneyGram.com and click the Sign-up button. The following step is as follows.
- Sign up by entering your email address and creating a secure password.
- Check your email to see if you've successfully created an account.
- Then log into your MoneyGram account and select Send Money. Decide how much money you'd like to send.
- You can pay with a debit or credit card. Then choose between Debit Card Deposit and Account Deposit.
- Check to determine if the bank account to which you're sending the money is linked to your visa gift card. If not, submit bank account information.
- Give the cardholder's name and address.
- After you've entered these details, click Next to complete your money transfer.
In a couple of minutes, money will be sent from your visa gift card to your bank account and that will be all.
4. Sell Your Gift Card
Sell my Gift card? Yea many would be surprised but that's it. There are several websites that permit one to Sell gift Card and get cash in return via bank account or any other means depending on the buyer.
Though these sites usually sell gift cards much more cheaper and you might be on the losing side. Check the article and get some of these sites that permit one to sell his or her gift card like Card Cash or Gift Card Granny.
Must Read: The Best Sites or Platforms to Sell Gift Cards Instantly and get real Cash
These websites will help you get real cash and after you have received the cash, then you can transfer it to your Bank Account and then feel free to use your Money.
5. Use Gift Exchange Kiosk To Trade In For Cash
Several gift card exchange booths can be located in supermarkets and large shopping malls where you may exchange your gift card for cash.
The cash can then be put in your local branch bank account. Finding a Gift Card Exchange Kiosk is a simple and quick way to exchange Visa gift cards for cash.
Simply enter the information on your gift card, including the set of digits on the front of the card, into the kiosk. Following that, you'll be given a voucher to produce to the cashier in order to get your money.
6. Use a Square reader
Square is a point-of-sale (POS) payment platform. If your Square account is linked to a bank account, you can simply swipe your card over the scanner to authorize a specific amount of money to be transferred to your Square account. You can then transfer the monies to your bank account. Each swipe costs 2.75 percent of the total transaction value.
Frequently Asked Questions(FAQs) on How to Send Visa Gift Card to Bank Account
Can I use an ATM to withdraw funds from a gift card?
A prepaid gift card can be used to withdraw cash from an ATM. Certain credit cards, however, do not enable this type of purchase.
Is it possible to transfer money from a gift card to the Cash App?
You won't be able to send money from your gift card to Cash App since you can't add it to your Cash App account.
But in the same way, you can add your Paypal and your Venmo account to Cash app and so you can use Paypal or Venmo as a middle man to send your money from Gift Card to your Cash App. We already provided this way in this article above.
Final Thoughts on Transfer Gift Card to Bank Account Easily
Gift cards are payment cards that you can get from a retailer and load with a specific amount of money to give to someone special. You can apply for gift cards either online or in person.
The cards are typically used at a single location. Some can be reloaded, while others are just good for one use.
You can't transfer money from a gift card to a bank account without going via an intermediary. Nevertheless, you can transfer money from a gift card to a bank account using any of the methods listed above.