How To Make Money From Gift Cards

How Can I Cash In A Gift Card?

If you are looking for ways to exchange your gift card for cash, you can actually do that online. One of the faster and legit ways you can get cash for a Visa gift card is by selling it on platforms such as Gift Cash.

With this site, you can sell your unwanted gift cards by submitting the gift card’s corresponding merchant and balance. After that, Gift Cash will submit an offer to you, and if you accept the offer, they will process your payment and send you cash.

You can also check out selling your unwanted gift cards on Gift Card Granny. This site has been seen in Forbes, NBC News, Oprah Magazine, and much more.

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Can Apple Refund an iTunes Gift Card for Cash?

iTunes gift cards aren’t redeemable for cash unless required by law. Eleven U.S. states and Puerto Rico allow getting cash back for gift cards, and they are:

  • Rhode Island
  • Vermont
  • California
  • Colorado
  • Maine
  • Massachusetts
  • Montana
  • New Jersey
  • Oregon
  • Washington
  • Connecticut

If you’re located in one of these states, you can contact Apple’s customer support and request a refund. You will be required to provide the following information:

  • Your Apple ID
  • The remaining balance on your gift card
  • Your most recent shipping address

The easiest and the most efficient way to get money back from your iTunes gift card is to use DoNotPay. Leave all the work to us and use our Gift Card Cash Back product—we’ll send the request in your stead.

2. Add it to your Venmo

With over 50 million users in 2020, Venmo is top on the list for Millennials. 

With its little to no fees (depending on the type of transaction), Venmo also allows users to convert their Visa gifts cards to cash.

Just add your card to your Venmo account and transfer the funds to your bank account. 

The money should hit your bank in one to three days, and there is no fee for this type of transaction.

To set up the transfer of your Visa gift card to your Venmo account, follow these simple steps:

  1. Open up the Venmo app on your mobile device.
  2. Open the menu bar and select “Settings.”
  3. Select “Payment Methods”
  4. Tap on “Add a Bank or Card”
  5. Enter your card’s information and select “add card to your account”

How to get cash from a Vanilla Visa gift card?

While you can’t get cash from a Vanilla Visa gift card directly, you have options like selling the gift card either online or in person or having the money transferred to your PayPal account. You will then receive money in exchange for the gift card.

That is, much like the other cards in this article, you can’t transfer money or withdraw money from your Vanilla Visa gift card. However, there are several workarounds available.

In fact, the process of how to get cash from a Vanilla Visa gift card is the same as how to convert any Visa gift card to cash, allowing you to use the balance in exactly the same way as cash. Check out some of the options earlier in this article to see which one may work best for you.

7. Give The Visa Gift Card Away As A Gift

Another great way to convert Visa gift cards to cash is by giving them away as a gift. One of the great things about Visa gift cards is that they can serve as a “cash” gift. If you are attending a special occasion such as a birthday or baby shower, you can give a Visa gift card to the person.

The person will be able to use the gift cards like cash to purchase the items of their choice. This is a great way to give someone a gift that is similar to money. Instead of giving someone something like cash in a card, you can simply put the Visa gift card in a special card and give it to them as a gift.

How to transfer money from a Visa gift card to a debit card?

As you’ve probably noticed, most ways of converting Visa gift cards require a few different steps before obtaining the desired outcome. 

So yes, you can get cash into your debit card in a few of the ways we confirmed. 

  • You can add your Visa gift card to your Paypal Wallet or Venmo account and transfer the funds to your debit account afterward.
  • You can obtain a money order and then deposit the check into your chequing or savings account to use with your debit card.
  • Sell your Visa gift card (Raise, CardCash, Prepaid2Cash, GiftCardBin) and receive a direct deposit, cash, or a cheque as payment. 

How To Check A Visa Gift Card Balance

Before you try to trade in your gift card for cash, I recommend you check the current balance on your Visa gift card. Even if a friend gave you the card as a gift, it’s smart to know the balance.

You have a few options for checking your balance.

1. Call the Toll Free Number

There will be a toll-free phone number on the back of your gift card that you can call. Once you call, the automated system will have you enter your card number and some other information before telling you the remaining balance.

2. Go to the Gift Card Issuer’s Website

If you don’t have access to a phone, no worries. You can also check your card balance through the issuer’s website.

To find out who issued your gift card, look on the back of the card near the phone number. There should be a URL listed that you can go to and find out your card’s balance.

You can also go here for a list of the card issuer websites.

Prepaid Cards Can Be Used

Visa also offers prepaid credit cards, which you can purchase for yourself and load with a certain amount of money. Because these credit cards come with a PIN, they can be used to withdraw money from ATMs.

Can You Get Cash From A Vanilla Visa Gift Card?

The short answer is not exactly, but the longer answer is it depends on the method you use. Vanilla Visa gift cards are the more popular choice for consumers since it’s easy to use.

There is a difference between a Vanilla gift card and a prepaid reloadable one. The former cannot get cashback from local ATMs, while the latter does.

What you can do is use a Vanilla card to transfer to PayPal or Venmo. Remember they take any prepaid card from Visa, which includes these gift cards.

You can always check the balance to make sure everything is correct. It’s as good a method as any to ensure you can cash from a gift card without having to use the gift card itself.

You can also use exchange kiosks, although these might be in rare locations. The kiosks do take a fair amount of money from the fees, but they are the easiest method to get your cashback from the gift cards.

If you can find any nearby grocery store with this machine, I highly recommend doing so. It’s arguably one of the most dependable methods to transfer any Visa gift card to cash.

You can even sell to any merchant in the local market but beware of transaction fees. If you plan on selling a smaller card, the costs don’t really add up to anything noticeable.

Visa gift cards with more considerable sums lose a good chunk through fees, so be careful when you consider this option. These fees vary depending on the vendors themselves. If they are too expensive, I suggest not going through with it and choosing another method.

Avoid redeeming credit card rewards for gift cards

There’s one more thing you need to know about making money from gift cards—in most cases, redeeming credit card points, miles or cash back for gift cards isn’t the best use of your hard-earned rewards. While you can redeem credit card rewards for gift cards, you’ll often get a lower value than you could have earned if you’d redeemed your rewards for statement credits, travel bookings or online shopping.

If you want to maximize your credit card rewards, it’s best to avoid turning your points, miles or cash into gift cards. Instead, take some time to learn which rewards redemption methods offer the biggest bang for your buck. If you have a Chase travel credit card, for example, your points are often worth more when you redeem them for travel through Chase Ultimate Rewards—which means you’re leaving money on the table if you redeem your Chase Ultimate Rewards points for gift cards.

How to transfer a Visa gift card to a bank account?

You can transfer money from a prepaid card to your bank account indirectly by trying some of the following options, which we go into more detail about above:

  1. Add the card to your PayPal or Venmo account and transfer the balance to your own account
  2. Get money for a voucher issued by a Gift Card Exchange Kiosk and then deposit it into your account
  3. Choose an app or website to sell your gift card to that pays you through direct deposit, letting you then use the selling price as a way to transfer the Visa gift card to your bank account
  4. Use the card to buy a money order, with the value of this then placed in your account

Wrapping Up: Fund your bank account through Visa gift cards

Receiving a gift card is a pleasant surprise, but you don’t need to spend it right away.

You can save your gift card balance by transferring it to your bank account. Fortunately, there are many ways to do this: using PayPal, Venmo, Raise, Square, MoneyGram, and exchange kiosks. 

You can also sell your gift cards, either to a website or to another person. After that, you send the money to your account for later purchases or savings. It’s also easy to buy a money order, then deposit the check into your bank account.

Through these tips and tricks, you can add money to your savings account.

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