While it’s true that you can’t simply go to an ATM and withdraw money from a gift card, there are still several ways on how to get cash from a Visa gift card.
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Perhaps you earned the gift card through survey sites and rewards programs, someone gave it to you last Christmas, or maybe you bought it yourself as part of a promotion. But this time, for whatever reason, you just want to have cold hard cash.
Again, if that’s the case, I’ll be sharing some tested and proven ways on how to cash out Visa gift cards.
7 Ways to Turn Visa Gift Cards Into Cash
Feel free to try the different ways below on how to get cash from a Visa gift card:
1. Add Your Visa Gift Card to Your PayPal Wallet
There are several ways to add a source of funds to your PayPal account, and one of these is through gift cards. To do this, first, you need to add your Visa gift card to your PayPal wallet. Once you are done, you are all set to use the balance in your gift card to purchase from any merchants that accept payments from PayPal.
Also, with this option, you can transfer the fund from your Visa gift card to your linked bank account or send the money from your gift card to other PayPal accounts/users. But before you do any of these, remember that PayPal charges a transaction fee which can be equivalent to up to 3% of the amount that you’re transferring.
2. Pay Your Bills Using Your Visa Gift Card
Another way to convert your gift card balance to become as good as liquid cash is by using it to pay your bills. Billers and companies that accept credit cards are most likely to accept Visa gift cards, too since the latter are also perceived as credit cards.
3. Add Your Visa Card Balance to Your Venmo Account
Just like PayPal, you can put your Visa gift card balance to your Venmo account. And because Venmo doesn’t charge a fee to transfer your balance from your card to your bank, this makes it a better alternative than PayPal.
4. Sell Your Visa Gift Card to a Friend
Probably one of the best and easiest ways to convert your gift card balance to cold cash is by selling it to a friend. It doesn’t hurt to ask around your circle if someone needs a Visa gift card, or simply ask if anyone is interested.
They might say “No,” but chances are, they might also say, “Yes.” After all, who wouldn’t want to help a friend, right?
5. Sell It Through a Website
If you don’t want to sell your Visa gift card to your friends or anyone in your inner circle, consider selling it through a website, instead. There are several sites that you can check out such as Raise, Gift Card Granny, CardCash, and GC Spread.
6. Use Your Gift Card to Buy a Money Order
There are stores, including Walmart and several grocery stores that allow the purchase of money orders using your gift card, but the availability of this offer varies per region. Once done, the money order can then be deposited into your bank account and be used as cash.
However, you should not overdo this because some banks shut down accounts with too many money order deposits.
7. Make Money From Your Gift Card by Buying and Reselling Items
This may not be the solution if you are looking for quick cash, but it can give you greater returns if you know what and when to buy and sell a particular item. Like I’ve said earlier, most stores treat gift cards as credit cards. This means that you can use your gift card to purchase anything from their online shop.
The trick here is to keep an eye on items that are on sale or in high demand and with low supply in your area as of the moment. Once you found some, buy these products and resell them at a profit. And if you are wondering how you can use your Visa gift card for this purpose, it’s simple – add it to your PayPal wallet and from there, you can use it to pay your online or even in-store purchases.
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How to Transfer Visa Gift Card to Bank?
Most of the time, you can’t straight up transfer a Visa gift card balance or any other gift cards directly to a bank account, there are some roundabout ways to do so.
Transfer the balance of your Visa gift card to bank account by using some of the steps mentioned above, such as by:
- Adding your Visa gift card to your PayPal or Venmo account, and then transfer the balance to your bank account;
- Buy money order and deposit the value to your bank;
- Sell your gift card through a website, which will then pay the agreed amount through direct deposit.
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Do You Want More Gift Cards for Free?
Now that you’ve learned that you can make cold cash from your gift cards, you might want to check out my other post on how to get free gift cards. And if that is not enough, feel free to try out the ways that I’ve listed in the following articles: