Last Updated on January 29, 2023 by Mike Bush
For hustlers who work online, gift cards are one of the simplest ways to receive and give money. But the major drawback is transferring the money from the gift card into actual cash. You might lose your money if you decide to sell to fake vendors. The best way would be to find a legit service to help you transfer the gift card balance into your bank account. In this article, I will guide you on the step-by-step process to easily and quickly transfer money from gift card to your bank account in just a few steps.
To transfer money from a gift card to your bank account, visit online payment services like PayPal, Venmo, and CashApp and link the gift card to your online account. Select “transfer money to the bank, using the gift card payment option.
If these payment services aren’t functional in your country, we will also discuss other methods you can use to get cash for your gift cards.
Types of Accepted Gift Cards
Here are some popular gift cards that are accepted on major platforms. If you don’t have any of these gift cards, then you might have to sell them to a 3rd party. But if your gift card appears here, then it will be accepted on platforms like PayPal, Venmo, or CashApp.
Gift Cards Cash Cards
One of the most popular gift cards can be used anywhere in the Cash Card Gift Card. You can use the card to buy things online and pay for things anywhere that take credit card payments. Companies like Visa, Discover, and American Express have put their names on Cash Card Gift Cards.
Gift Cards for Stores
One of the most popular gift cards that can be used in specific stores is the Store Cards Gift Card. Some stores, like Amazon, AliExpress, and Victoria’s Secret, are the only ones that sell the cards.
These are the best online gift cards because they are personal store cards. But all store cards have an expiration date of either 30 or 90 days. And some get to lose value after some months.
These are the two popular categories of gift cards that are accepted on major FinTech platforms and allow to transfer of money from a gift card to a bank account.
If you have other customized gift cards like cinemas, fuel stations, and local stores, you can redeem those in specific places.
Ways to Transfer Money From Gift Card to Your Bank Account
These are some of the methods that have worked well for me. I am writing this based on a recommendation, and these methods to transfer money from gift card to your bank account are perfect.
3rd Party Vendors
This method is specifically for people who can’t use payment services in their countries.
Also, if your country doesn’t support a PayPal account that can receive and send money, you can learn how to open a stealth PayPal account.
If you have a gift card and want to move the money to your bank account, you can transfer money from a gift card to a bank account with a 3rd party vendor service.
First, you’ll need to find a reliable website that offers this service. There are a few different ones, so take the time to read reviews and find one that works well for you.
Once you’ve found a website, you’ll need to make an account and enter the information from your gift card. After that, the website will give you a unique link you can send to your bank.
Once you send the link to your bank, they can process the transfer and put the money in your account. That’s all there is to it!
When moving money from a gift card to a bank account, there are a few things to remember. First, ensure that your website is reliable and has good reviews. Second, ensure you put in the right information about your gift card so the transfer goes smoothly. And finally, be patient. The money might not show up in your account for a few days.
If you have a CashApp account, follow the steps below. But if you don’t have a CashApp account due to geolocation restrictions, you can learn how to open a CashApp account outside the US.
- Tap on the “+” sign when you’re in the Cash app. Choose “Add Bank” from there.
- Enter the information about your bank, and then click “Add Bank.”
- You can tap the “Balance” tab on the visa gift card and choose “Cash Out.” From there, you can enter the amount of money you want to move from your Gift Card to your bank account.
If you have a Gift Card and want to move the money to your bank account, PayPal Wallet makes it easy. Follow the steps below.
- Go to your PayPal account and sign in.
- At the top of the page, click “Wallet.”
- Click “Link a bank account or credit card.”
- Enter the number, expiration date, and security code on your Gift Card.
- Click “Card Link.”
- Once you’ve linked your bank account card to your Visa gift card, you can move money from your Visa gift card to your bank account by clicking “Withdraw” and then “Transfer to a bank account.”
- Type in the amount you want to send and click “Submit.”
All done! You have now moved the money from your Gift Card to your bank account.
Through Square Square, a popular payment processing service, you can accept and process payments made with credit and debit cards. You can also send and receive money with Square.
Signing up for a free Square account is the first step to allow you to transfer money from your gift card to your bank account. You can link your credit or debit card once you have an account.
- Sign in to your account on Square.
- Click on the tab labelled “Cash.”
- Click on the button that says “Withdraw.”
- Choose “Gift Card” as the way to get your money.
- Enter how much money you want to take out of your gift card.
- Click on the button that says “Withdraw.”
Within two working days, you will have the monetary equivalent of the gift card sitting in your bank account.
It is possible to send money using a gift card to someone’s bank account in a few ways. One option is to use a service like MoneyGram. Using MoneyGram, you can transfer money from a gift card to a bank account:
- Create an account on the MoneyGram website
- You must enter the amount you want to transfer from your gift card.
- The payment method should be selected as ‘gift card’.
- The recipient’s bank account information should be entered.
- The recipient will receive the money within a few days.
There you have it! Now you know how to transfer money from your gift card to your bank account using different websites and platforms.
Video Tutorial to Transfer Money from Gift Card to Your Bank Account
Alternative Options for Using Your Gift Card Funds
If you have a gift card and don’t want to use it to purchase something, there are a few alternative options for using your gift card funds. You can transfer the money from your gift card to your bank account, use it to pay bills online, or donate the money to charity.
Paying bills online
With your gift card is also an easy process. Simply enter your billing information and the amount you want to pay on the website of the company you’re paying. Your payment will be processed and deducted from your gift card balance.
Donating your gift card funds to charity
This is a great way to give back and help those in need. There are many websites that allow you to donate money to charities of your choice. Simply select the charity you want to donate to and enter the amount you would like to give. Your donation will be processed and sent directly to the chosen charity.
Tips to Successfully Money from Gift Card to Your Bank Account
The proper steps make it possible to transfer money from a gift card to a bank account. Here are some tips:
- 1. Ensure the gift card is activated and has enough balance to cover the amount you wish to transfer.
- If the gift card issuer offers direct deposit of funds from the card to your bank account, follow their instructions on how to set it up.
- If your gift card does not offer direct deposit, you need to use a third-party service to facilitate the transfer. Many reputable services can do this for you, so research your options.
- Be patient while transferring funds from your gift card to your bank account takes a few days. Follow the instructions provided by the service you chose.
- Check your bank statement or balance once the funds have been transferred.
- If you follow these tips, you can successfully transfer money from a gift card to a bank account.
To transfer money from gift card to bank account doesn’t have to be difficult or time-consuming. By following the steps outlined in this article, you can quickly and easily transfer funds without any hassles. The entire process usually takes just minutes and can save you time, energy and hassle when managing your finances.
So if you ever need cash fast, don’t forget that transferring money from gift cards is an option!