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Banks have been fast increasing and online banks too have been fast increasing. Many people now, prefer to have an online bank account rather than having a physical bank account. This is because of the wonderful advantages of being a user of a virtual bank account.
With some of these advantages being; able to access account 24/7 and this will permit someone to transact any time and anywhere. Also, because of the fact that they can access their account anywhere. Also,; some people prefer this virtual bank because they can do online transactions with them.
Do you have some money you deposited into your Prepaid card and then you will want to withdraw the money online? Well today is your lucky day because in this article, we have pilled up some few methods that you can use to withdraw money online for free from your Prepaid Card.
How To Easily Withdraw Money From Your Prepaid Card Online
First things first: What is a Prepaid Debit card and how does it work?
A prepaid debit card is a non-bank account that only allows you to spend the money you put onto it. Prepaid cards, like debit cards, can be used at any merchant that accepts Visa or Mastercard's payment network. They're more secure and convenient than cash.
Prepaid debit cards are simple to obtain because they don't involve credit checks. Prepaid cards can be a safe way to spend money without having to use a bank if you're one of the roughly 7 million families in the United States without access to one. This article explains how to get a prepaid debit card and how they work.
Prepaid cards come in a variety of shapes and sizes, but they all share the following characteristics:
- Fees: It's possible that you'll have to pay to activate or receive a card, make deposits, or use out-of-network ATMs. There is usually a monthly cost, which can be removed in some cases — for example, by having direct payments. Some credit cards levy a fee for each purchase and ATM withdrawal.
- Some have ATM access, while others do not.
- You may normally load money onto a card in a variety of methods, including direct deposits, loading cash at participating stores, depositing checks at ATMs, and even making online transfers.
- Maximum amounts: Some cards include a limit on how much you can withdraw, reload, or spend in a given day or month.
- Many cards include government deposit insurance, which means your money is protected if the issuer goes bankrupt.
- There are expiration dates on prepaid cards. Although the funds on the cards should not expire, you will need to be reissued a card before it expires in order to keep using it.
- Check writing, online bill pay, and numerous copies of a card for family members are all features of some prepaid cards. A select handful even offer perks like cash back on purchases, comparable to rewards credit cards.
Is It Possible To Transfer Funds From A Prepaid Card To A Bank Account?
The first step is to see if your card allows you to transfer assets to your ledger in the first place. Then the good news is that in almost all circumstances, you can transfer money from a prepaid card to a bank account. However, the method you use depends on the type of prepaid card you have. Prepaid cards are divided into two categories:
- Prepaid Gift Card
- Regular Prepaid Card
How to Transfer Money from Prepaid Visa Gift Card to Bank Account
How can a Visa gift card be transferred to a bank account? However, there are a few options for transferring the Visa gift card to your bank account. The money will thereafter be available for withdrawal as cash.
Well, there are may ways to transfer money from your visa gift card to your bank account and some of the methods including MoneyGram, Venmo, Paypal, Selling to someone else who can deposit the money in your account, and many more ways. You can read more about this and learn how to transfer Visa Gift Card to Bank Account Easily.
How to Withdraw Money from Regular Prepaid Card Online
You can transfer funds from your prepaid card to your bank account using various prepaid cards. To get started, go to the prepaid card issuer's website or mobile app. It may take one to three business days to execute an online bank account transfer.
If your card does not enable bank transfers, you can use MoneyGram to get around the limitation. If you don't already have a MoneyGram account, go to their website and create one. Click the Send Money button once you're in the account center.
Enter the desired amount, choose a debit/credit card, and then select Account Deposit or Debit Card Deposit. Then you'll enter your bank information and follow the steps. A little fee will be levied for the convenience.
You might also access your money online by using your prepaid card with Venmo, Apple Pay, or PayPal.
I. How To Transfer Money From Your Prepaid Card To Your Bank Account Using MoneyGram
You may send money to your bank account quickly, cheaply, and safely with a remittance service like MoneyGram.
So, here are the steps for utilizing MoneyGram to transfer money from your prepaid card to your bank account and then withdrawing the money:
Step 1: To create an account using your email address, go to the MoneyGram website and click "Sign Up." You may be asked to show photo identification to prove your identity.
Step 2: After you've signed up, go to the menu and select "Send Money" Option. And after that, you will be directed to another page where you will have to do the following;
- Enter the amount you'd like to send.
- Choose a credit/debit card.
- If you don't see the 'Account Deposit' option, select the 'Debit Card Deposit' option. You'll need a debit card linked to the bank account you're sending money to in order to do this.
Step 3: You'll be directed to a page after clicking next. Enter the information of your receiver. This will include details such as your name, address, and account/debit card information.
Step 4: Select 'Next.' Many account deposits are handled within minutes, according to the MoneyGram website, depending on banking hours and system availability.
From there now, you can withdraw the money and then start using it as you wanted to use it easily.
Note that the maximum amount you can send money online is $10,000 per transaction and $10,000 every 30 days. If you need to send more money, you'll have to do so in person at a MoneyGram agent location; however, most agent locations only accept cash, according to the MoneyGram FAQ.
II. How To Transfer Money From Your Prepaid Card to Your Bank Account Via PayPal
You can transfer the funds from your prepaid card to your PayPal account. PayPal will charge you a little fee, but the transaction is simple and may be completed entirely online.
Step 1: The first thing obviously is to sign in to your Paypal Account. And if you don't have one, you will have to create your own Paypal Account and start using it online.
You’ll need to provide the following:
- Full name
- A valid ID
- Phone number
- Address
Step 2: Next, link your PayPal account to your prepaid card account. This enables you to transfer funds from your card to your PayPal account.
Follow these steps to link your prepaid card to your Paypal Account:
- Go to your PayPal account and sign in.
- Select "Wallet."
- "Link a Bank Account" is the option.
- Enter some random letters in the bank details area and push enter. This will prompt you to manually enter the prepaid card information.
- Fill up your prepaid card's account number and routing number.
- Click "Agree" to create a link.
- Don't press the "Confirm Instantly" button. To finalize the transfer, you will need to enter into your personal bank account.
- Instead, select "Request Deposits" and wait for PayPal to approve your request. You will be able to transfer money from your prepaid card to your PayPal account using this method.
- Wait for confirmation. PayPal will charge your card and bank account with a test charge. This will be returned to you.
- Once you get a notification that the charges were approved, you can then send money from your prepaid card to PayPal.
You must also link your account to an active bank account, debit card, or credit card. This is where you will deposit the funds from your prepaid card.
Follow these procedures to link your bank account:
- Go to your PayPal account and sign in.
- Select "Wallet."
- Depending on the type of account you have, select "Link a Card" or "Link a Bank."
- Complete the verification procedure by entering the essential information.
Step 3: Now that you have linked your Prepaid card, the next thing to do will be to go to your Paypal account;
- Then Click on “Wallet.”
- Choose “Send Money,” then, “Add Money Online.”
- Choose your link prepaid card as the source of funds.
- Fill in the amount to transfer, then complete the transaction.
The transfer will be completed in less than no time. then you will have to transfer the money from your Paypal to your Bank account to withdraw the money very easily and get it in cash.
Frequently Asked Questions on prepaid card online withdrawal
Can I transfer money from a prepaid card to my bank account?
By connecting onto your prepaid card's app or website, you may usually transfer money from your prepaid card to your bank account online. If your prepaid card does not allow transfers to bank accounts, you can make the transfer using a third-party provider like MoneyGram.
How do I transfer money from a prepaid card to cash App?
No, a Prepaid Card cannot be added to Cash App and used to make Cash App payments. To your Cash App account, you can only add or link a bank account and a regular debit/credit card.
On the other hand, you can link and send money from your Prepaid card to your Paypal account, and from your Paypal account to your Cash app account. To do that, you can use this article and send money to your paypal, then read below how to send money from Paypal to Cash App instantly.
Does Paypal and Venmo Accept Prepaid Cards?
Yes. Anywhere that PayPal Venmo is accepted you can use prepaid gift cards that have a Visa®, MasterCard®, American Express®, or Discover® logo on it.
Conclusion on how to Send Money from Prepaid Card to Bank Account and Get Cash
With all these said and done, you will be able to get your cash in hand after reading this article and doing it correctly step by step. As a quick recap, we provided the method how to transfer to MoneyGram and withdraw to get cash, and we also showed how to send from prepaid card to Paypal and from Paypal to bank account and then getting your cash in hand.
If this was helpful to you, also help others by sharing this article and letting them know that they can withdraw Prepaid card Cash Online Easily with just a few clicks.
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