For people, how to transfer visa gift card to bank account?
To transfer funds to your bank account, you can link your gift card to PayPal, Venmo, or Cash App. This is the least expensive method of turning gift cards into cash.
The priciest methods involve offering the gift card on a specialized website or mobile app, or even at an exchange kiosk in your mall.
Please continue reading as I provide you with more specific instructions on how to transfer a Visa gift card to a bank account.
Transfer Visa Gift Card To Bank Account
Adding Visa Gift Card To Venmo
If you’ve never heard of Venmo, it’s a well-known mobile payment app that is run by PayPal. The balance on our Visa gift card can be transferred using it to the associated bank account.
In addition to Visa gift cards, Venmo supports network-branded (Visa, MasterCard, American Express, Discover) debit, credit, and prepaid cards that are registered in your name.
Opening a Venmo account entails:
- Download the Venmo app
- Open it
- Choose a personal or a business account
- Tap on “Sign Up”
- Enter your phone number
- Enter the code you got
- Add your first and last name
- Choose a username
- Enter your email and create a password
- Check the box
- Agree to terms and conditions
- Sync phone or Facebook contacts, or skip
- Set your payment visibility to private
We can now add our gift card because we have a Venmo account. Currently, the card issuer or Venmo may reject some cards. For either the availability of funds or the prevention of fraud, there are two possible justifications.
Adding a debit or credit card, a gift card, etc.
- Open the Venmo app
- Tap on the profile icon in the lower right corner
- Tap on the Settings button (Gear icon)
- Tap on “Payment Methods”
- Tap “Card”
- Enter the card number, expiration date, CVV
- Add your ZIP code
- Tap “Add”
Now you have the option to use Venmo to transfer the money from the gift card to your bank account. Use the same procedures outlined above to add a bank account or a debit card to Venmo.
A standard money transfer that takes a few days and is free is an option, as is an instant transfer that costs 1.75% of the transfer amount (with a minimum fee of $0.25 and a maximum fee of $25).
Selling Your Gift Card For Cash
A safe and practical way to cash out on your gift card is to sell it. You’ll receive payment to your bank account or PayPal after selling your card. You’ll receive a little less money than the value of the gift card, but that’s the only catch.
Use Raise To Sell Your Gift Card
Your cards can sell with Raise in just a day. Direct deposit, PayPal, or a check are other payment options available to you.
For instructions on using the website, look at these steps.
- Go to the “Sell Gift Cards” page on the website after visiting it.
- Name, number, and balance of the retailer’s gift card should be typed.
- If you need money right away, you can set your gift card’s price to make it sell quickly. Before someone purchases the card, you can adjust the selling price with Raise.
On every gift card you do sell, Raise does charge a 15% commission. Given how convenient the process is, it’s a good trade-off.
Sell To Another Person Directly
Additionally, you can give the card to loved ones or friends who might require it. Since you’re selling it to someone else directly, there’s no chance of being conned using this method.
You can sell it on Craigslist, Facebook, or any other website that permits direct selling in addition to offering it to friends.
Here is a guide on how to sell on Craigslist.
- The “create a posting” button can be accessed by going to the website and tapping it.
- Choose the category and complete the form after selecting “for sale by owner.”
- When you are finished entering the information and adding the images, click “publish.”
- By means of the email that Craigslist sent, confirm the listing.
When selling on Facebook is your preference, you can follow these steps.
- Open the Facebook app, then tap the Marketplace icon.
- To add items to your listing, tap “Items” under “Create New Listing,” then click “Sell.”
- Enter the necessary information, add images, decide on a price, and then click “Publish.”
You may deposit the buyer’s payment into your account as soon as you receive it.
Linking The Gift Card To Paypal
PayPal can be used to transfer the remaining value on gift cards to a bank account.
You won’t forget about your gift cards if you add the balance to PayPal, especially if you have a lot of them.
You can deposit your card using PayPal by following these steps.
- After logging into your PayPal account, choose “Wallet” from the menu.
- After selecting “Link a debit or credit card,” choose “Link a card manually.””
- Then click “Link card” after entering your Visa gift card information.”
Your gift card can be used as a payment method once it has been linked. Additionally, there are no fees that PayPal will be charged for this transaction.
However, using the card to pay might present some technical challenges. In that case, your Visa gift card might need to be activated.
To sign in, refer to the location on the card’s back. You can activate your gift card by calling the company that issued it.
Thankfully, some cards are instantly activated. Therefore, you can use it as soon as you get it.
A different way to add Visa gift cards to a bank account is provided here. This approach is also cost-free.
- Visit the CardCash website, then enter the gift card amount and the name of the retailer.
- Tap “Get Offer” once you’ve entered the card’s information.”
- If you accept the offer, click “Continue.”
- For PayPal to connect, enter the gift card number and PIN.
- Your PayPal account should be logged in.
- Get My PayPal Balance can be tapped to complete the transaction.
The money should appear in your account after one business day. After that, transfer the money to the associated bank account.
Additionally, you can go to CardSell, which follows a nearly identical procedure. Within 48 hours, it deposits money into your PayPal account directly.
There is no set value for your gift card because the exchange rate varies for each business.
Paying Bills Using Your Visa Gift Card
Visa gift cards can be used to pay your bills in addition to cash and credit cards. You can use such gift cards almost anywhere that accepts Visa debit.
Even though the balance can’t technically be put on your bank account, you can still use it like a debit card. Simply hand it to the cashier or place the card into a reader.
In order to avoid problems at the register, be sure to register your card.
Several businesses that take Visa gift cards include:
- Retail stores
- Gas stations
- Online shops
Before leaving the house, you can give the stores a call to find out if they accept it or not. If you do this, you won’t have to keep going back and forth after learning that they don’t accept gift cards.
Trading For Cash Using A Gift Exchange Kiosk
Additionally, you can use an exchange kiosk to cash out the gift card and then deposit the proceeds into your bank account.
But first, where are these kiosks located?
But keep in mind that kiosk accessibility varies by location. It’s best to give a nearby store a call to confirm whether or not they have a gift-exchange kiosk before visiting.
The self-service booth has an ATM-like appearance and is simple to use.
- The information from the gift card, which is occasionally embossed on the card, must be entered. Some cards have barcodes, which you can swipe or scan using the machine.
- The cashback offer and card information will be displayed on the ATM’s display screen.
- If you’re happy with the offer, you can accept it. If not, you are free to cancel the deal without incurring any fees.
- The kiosk will print a voucher with the cash offer amount on it if you accept it.
- To receive the specified amount, show the voucher to the cashier.
- The funds are now available for deposit into your bank account for future use.
Typically, retailers add 15 to 40% to the value of your gift card. For instance, if you have a $25 card, the majority of merchants will offer a cashback of $21.25 or less. The good news is that some kiosks only take 10%, allowing you to get $22.5 back on a $25 gift card.
However, given that you can instantly obtain cash using your card, that is the cost of convenience. You don’t need to wait for days until you can deposit it into your bank account.
Linking Your Bank Account To Square
Millions of sellers have been able to sell their goods and services online thanks to Square’s payment system and eCommerce platform.
Debit, credit, and Visa gift cards can be wirelessly linked and connected with Square to accomplish this. The money on a gift card can be transferred in this manner to your bank account.
Here’s how to connect your Square account to your account.
- Enter your Square username and password, then select “Account & Settings.””
- Choose “Add Bank Account” from the list of “Bank Accounts” options.”
- Enter the routing and account numbers, then hit “Verify.””
With weekends and holidays excluded, you can anticipate the approval in 4 business days.
To transfer the balance to your account after adding your bank account, you must use a Square reader.
To make a payment to your account, place your card into the magstripe reader. Every swipe made through Square will result in a 2.75% processing charge. Manually entering the card information results in a higher fee of 3.75% if you don’t have a Square account. It is therefore best to use the reader.
There is good news: Square provides services to millions of companies, making it simple to locate a store that accepts the reader.
The following stores may have Square readers available for purchase:
- Best Buy
- Sam’s Club
- Office Depot Office Max
It costs $10 and comes with a headset jack and a lightning connector. If you purchase it from Square’s website, you will be required to provide company information, which can be difficult if you don’t have one.
Adding The Gift Card To Venmo
A Visa gift card can be transferred to your bank account via Venmo as well.
Check out the following steps for the linking process:
- On your Android or iOS device, launch the Venmo app.
- Enter your username, email address, or mobile number to sign in, then type your password.
- Select “Payment Methods” from the “Preferences” tab in Settings after going there.
- To enter information like the card number and expiration date, click “Add Bank or Card.”
Now, you can select it as a payment option when making purchases.
Additionally, it is free to deposit the money into your bank account. You must select the Standard option in order to accomplish this, not Instant Transfer. Within three business days, if you choose the Standard method, you can get your money.
According to some users, Venmo displays a fraud prevention warning message. Additionally, some cards might ask for the gift card’s associated zip code.
You can get in touch with the business at (855) 812-4430 if you encounter those problems. At the Venmo Help Center, you can also make a request.
Buying A Money Order
You can buy money orders with a Visa gift card because it functions like a debit card. Money orders help you avoid problems like lost cash and bounced checks.
The following retailers allow you to use a gift card to purchase a money order:
Keep in mind that only a select few branches will accept this method of payment, so before purchasing a money order, make contact with the retailer first.
You can look at these basic instructions for making a purchase.
- Visit your preferred retailer or business that sells money orders.
- When purchasing a money order, let the staff know.
- You can pay with the gift card. Once you’ve received the money order, write the recipient’s name and your own.
Keep the receipt for your purchase so you can speak with the retailer if there are any problems.
The money order is now available for bank deposit. Since banks treat money orders like checks, there is no fee.
The money order, identification documentation, and account information are the only things you need to bring with you.
Transfering Via Moneygram
To transfer the remaining balance on your gift card to your bank account, use MoneyGram. You don’t need to travel to a MoneyGram branch because the entire process is done online.
- Go to the MoneyGram website, then tap the “Sign Up” button in the top right corner.
- You should enter your password and email address.
- To verify your account, wait for MoneyGram to email you.
- Go to the top menu bar and click “Send Money.”
- The website will ask you to enter the payment information, including the amount, on another page.
- Enter your bank information, including the recipient’s name, address, and credit card details.
- To have MoneyGram handle the fund transfer, click “Next.”
After a short while, you should see the funds appear on your account.
However, be aware that if your transfer is under $200, MoneyGram will charge you $1.99. In addition to the $1.99 fee, you will be charged 1% of the amount you send if it is more than $200.
Transfering Through Paypal
This is simple to do because PayPal allows you to add prepaid cards, including Visa gift cards, to your Paypal wallet. Then, you can transfer the balance from your card to your own account.
You then have the option of transferring the funds to one of your linked accounts. Just remember the cost.
As an example of how to do that, consider the following:
- If you don’t already have one, open a PayPal account now. If you do, log in.
- The “wallet” option is located at the top of the page.
- The option to “Link a Card or Bank” is located on the left side of the screen. To continue, click it.
- Put the information for your Visa gift card in when PayPal asks for the pertinent details. Following that, select “Link Card.”
If you experience a problem after completing these steps, double-check that your Visa gift card is registered and associated with an address. Following completion of these steps, PayPal will have no trouble accepting your card.
Describe The Visa Gift Card
A Visa gift card is a prepaid card loaded with a predetermined amount of money that can be used for a variety of purchases as long as there are funds left on the card and for controlling sending.
It is easy to use and is available everywhere. In fact, you can use it without having a bank account. To get a card, all you have to do is ask for one and supply the funds to load onto it. Then, the card is usable.
You Can Do The Following Things With A Visa Gift Card:
- Send money to family
- Shopping spree
- Purchase products and services both online and offline
- Pay for trips
- Control reckless spending
- Help spend money on a budget
- A perfect gift for friends
The instructions for transferring a Visa gift card to a bank account were the main topic of the post.
If you’re anything like me, you probably receive a number of Visa gift cards each year, typically around the holidays. I occasionally do not want to use them for shopping, though.
The gift card balance should be transferred to my bank account. There are no straightforward methods for doing it, so how do I go about doing it? The best solutions are listed below, though.
Have you finally figured out how to transfer a Visa gift card to a bank account? I’m grateful that you read. Have a great day, and thanks for reading!