You cannot deposit a gift card directly into a bank account, but you have several ways to convert the balance to cash or usable funds
A gift card is not a bank account and banks will not accept it as a deposit. However, you can move the money off a gift card in a few concrete ways: transfer it to a digital wallet (like PayPal or Apple Pay), use it to buy a money order or prepaid card that you can then deposit, spend it at a retailer and deposit the cash you receive as change, or in some cases transfer the balance to another card or account through the card issuer's app or website.
The method that works depends on the type of gift card you have, whether the issuer offers a transfer option, and how quickly you need the money in your bank account. Some routes are faster than others, and some cost a small fee.
Key Takeaways
- Most gift cards cannot be deposited directly into a bank account because they are not linked to a bank routing number.
- PayPal, Square Cash, and some digital wallets will let you load a gift card balance and then transfer that money to your bank account, though this usually takes one to three business days.
- You can spend the gift card at a store, receive cash as change, and deposit that cash into your bank account the same day.
- Some gift card issuers (Visa, Mastercard, American Express) allow you to transfer the balance to another card or account through their mobile app or website.
- Money order and prepaid card routes work but add time and may charge a fee of $1 to $5.
Transfer the balance through the card issuer's app or website
If your gift card is a Visa, Mastercard, or American Express branded card, the issuer may let you transfer the remaining balance to another card or bank account. Log into the card's mobile app or visit the issuer's website and look for an option called "transfer balance," "move funds," or "add to account." You will need the routing and account number of the bank account you want to send the money to.
This option is not available on all gift cards—it depends on the card issuer and the terms printed on the back or in the app. Visa and Mastercard gift cards issued by banks like Chase or Bank of America are more likely to offer this feature than store-branded cards (like a Target or Amazon gift card). Check the card's terms or call the customer service number on the back to confirm whether transfer is available.
If the transfer is available, the money usually arrives in your bank account within one to three business days. There is typically no fee for this transfer.
Load the gift card into a digital wallet and transfer to your bank
PayPal, Square Cash, and some other digital payment services will let you add a gift card as a payment method, then transfer the balance to your linked bank account. The process varies by service, but generally works like this: open the app, go to your wallet or payment methods, select "add card," enter the gift card number and expiration date, and then look for a "transfer to bank" or "cash out" option.
PayPal is the most straightforward route. Once you add the gift card, you can transfer the balance to your PayPal account and then to your bank account. The transfer to PayPal is instant, but the transfer from PayPal to your bank account takes one to three business days and requires you to have a linked bank account. PayPal does not charge a fee for this transfer if you use a standard bank account (not a debit card).
Square Cash (now called Cash App) works similarly but has stricter limits on how much you can transfer per week if your account is not fully verified. Check the app's current transfer limits before you start.
Spend the card at a retailer and deposit the cash
The simplest method for many people is to spend the gift card at a store where you shop anyway, receive cash as change, and deposit that cash into your bank account. This works best if the gift card balance is close to the price of something you actually need.
For example, if you have a $50 grocery store gift card and you buy $45 worth of groceries, you can ask the cashier for the remaining $5 in cash. You then deposit that $5 (or the full amount if you pay with the card and use your own cash for the purchase) into your bank account at an ATM or branch. This method is free and the money is in your account the same day if you deposit before your bank's cutoff time (usually 2 p.m. on business days).
The downside is that you have to spend money at that retailer to make it work, and you may not always be able to get cash back—some stores limit cash-back amounts or do not offer it at all.
Buy a money order with the gift card and deposit it
You can use a gift card to buy a money order at a grocery store, pharmacy, or post office, then deposit the money order into your bank account. Money orders are paper documents that function like checks and most banks accept them as deposits.
Go to a location that sells money orders (Walmart, CVS, USPS, or your bank branch), tell the clerk you want to buy a money order for the amount of your gift card balance, and pay with the gift card. The clerk will issue the money order in your name. You then take it to your bank and deposit it like a check—either at an ATM, through mobile deposit (if your bank offers it), or at a branch.
This method usually costs $0.70 to $2 per money order, depending on where you buy it. The deposit typically clears within one to three business days. This route is slower than others but works if you do not have access to a digital wallet or the card issuer does not offer a transfer option.
Load the balance onto a prepaid card and deposit that card
Some prepaid card companies (like NetSpend or Green Dot) allow you to load a gift card balance onto their prepaid card, which you can then link to your bank account and transfer funds from. This is a workaround that adds a step but works if other methods are not available.
The process involves creating an account with the prepaid card company, adding your gift card as a payment method, loading the balance, and then initiating a transfer to your bank account. Prepaid card companies charge monthly fees (usually $5 to $10) and may charge a fee to load funds from a gift card, so this method is more expensive than others and should be a last resort.
Why banks do not accept gift cards as direct deposits
Gift cards are not connected to a bank routing number or account number, so they cannot be deposited like a check or direct deposit. A gift card is a prepaid card issued by a retailer or payment network, and the money on it lives in the card issuer's system, not in a bank account. To move that money to your bank, it has to be converted into a form your bank recognizes—cash, a check, a money order, or an electronic transfer from an account that has a routing number.
Some gift cards (like Visa or Mastercard branded cards) do have routing numbers and can function more like bank accounts, which is why those cards sometimes offer direct transfer options. Store-branded cards (Target, Amazon, Starbucks) do not have routing numbers and cannot be transferred directly.
Frequently Asked Questions
Can I deposit a gift card into my bank account like a check?
No. Gift cards are not checks and do not have routing numbers, so banks cannot process them as deposits. You have to convert the balance to cash, a money order, or an electronic transfer first.
Does it cost money to transfer a gift card balance to my bank account?
It depends on the method. Direct transfers through the card issuer's app are usually free. Digital wallets like PayPal are free. Money orders cost $0.70 to $2. Prepaid cards charge monthly fees. Spending the card and depositing cash is free.
How long does it take to get the money from a gift card into my bank account?
Same-day if you spend the card and deposit cash. One to three business days for digital wallet transfers or direct transfers through the card issuer. One to three business days for money order deposits, depending on your bank.
What if my gift card is from a store like Target or Amazon?
Store-branded gift cards do not have routing numbers and cannot be transferred directly to a bank account. Your options are to spend the card and deposit the cash, buy a money order with the card and deposit that, or load the balance into a digital wallet like PayPal and transfer from there.
Can I transfer a gift card balance to someone else's bank account?
Not directly. You would have to convert the balance to cash or a money order and give that to them, or transfer it to your own account first and then send them money from your bank account.