You cannot deposit a gift card directly into a bank account

Banks do not accept gift cards as deposits. A gift card is a prepaid card issued by a retailer or payment network—it holds a balance you can spend at specific stores or online, but it is not money in a bank's sense. Your bank account holds actual currency; a gift card holds a merchant's promise to let you buy things. The two systems do not connect.

What you can do instead depends on what kind of gift card you have and what you want to accomplish. Some gift cards can be converted to cash through resale platforms or by spending them strategically. Others can be linked to your bank account as a payment method without moving the balance into the account itself. Understanding which option works for your situation saves you from wasting the card's value or falling for scams.

Key Takeaways

  • Gift cards cannot be deposited into a bank account because they are not currency—they are prepaid cards tied to a specific retailer or payment network.
  • You can spend a gift card by linking it to your bank account as a payment method, but this does not move the gift card balance into your account.
  • Resale platforms like CardCash and Raise let you sell unused gift cards for cash, which you can then deposit into your bank account yourself.
  • Some gift cards can be converted to cash at the issuing retailer's customer service desk, though most retailers do not offer this option.
  • Never give anyone access to your gift card number or PIN to "deposit" it for you—this is a common scam.

How gift cards and bank accounts work differently

A gift card is a stored-value card. When someone buys it, they load money onto it at the point of sale. That money stays on the card and can only be spent at that retailer (or network of retailers, if it is a Visa or Mastercard gift card). The card itself is the account—there is no separate banking relationship.

Your bank account is different. It is a contract between you and a financial institution. Money deposited into it is held by the bank, insured by the FDIC up to $250,000, and can be moved to other accounts, withdrawn as cash, or spent through checks, debit cards, and transfers. The bank tracks the money; you do not own a physical card that holds the balance.

Because gift cards and bank accounts operate on different systems, one cannot feed into the other. A gift card is not a check, wire transfer, or direct deposit—the three main ways money enters a bank account. Banks have no way to read a gift card's balance or move it into your account.

Linking a gift card to your bank account for spending

Many retailers let you add a gift card to their app or website so you can use it to pay for purchases without physically carrying the card. This is not the same as depositing the balance into your bank account, but it does let you access the money.

If the gift card is a Visa, Mastercard, or American Express gift card (not tied to a specific retailer), you may be able to register it with your bank's bill-pay system or link it to a digital wallet like Apple Pay or Google Pay. Again, this does not move the balance into your account—it just lets you spend it more easily. The balance stays on the gift card until it is exhausted.

Some banks let you set up a transfer from a linked card to your account, but this only works if the card is a debit card or prepaid card you own. A gift card issued by a retailer will not work this way because the bank has no relationship with the retailer's payment system.

Selling a gift card for cash

If you want actual money in your bank account, you can sell the gift card on a resale platform. These sites connect people who want to sell unused gift cards with buyers who want to use them. You list the card, a buyer purchases it at a discount (usually 70 to 90 percent of the card's face value), and the platform pays you via bank transfer, PayPal, or check.

The most established platforms are CardCash, Raise, and Decluttr. Each has slightly different fees and payout methods. CardCash typically pays within one business day if you sell instantly; Raise can take longer because it waits for a buyer. Both charge the seller a small percentage of the sale price.

The discount you receive depends on the card's brand and how much demand exists for it. Popular retailers like Amazon, Target, and Walmart gift cards sell closer to face value. Niche or regional retailers may sell at a steeper discount or not sell at all. You will know the offer before you commit to selling.

To sell, you will need the card number and PIN (if it has one). The platform will ask you to verify the balance before listing. Once a buyer completes the purchase, you provide the card details and receive payment. The buyer then owns the card and can use it.

Asking the retailer to convert the card to cash

Some retailers will exchange a gift card for cash at their customer service desk, but this is rare and varies by store. Most major retailers—including Walmart, Target, and Best Buy—do not do this as a standard policy. A few smaller or regional chains may offer it, but you have to ask.

If you do find a retailer willing to convert the card, expect to receive less than the card's face value. The retailer may deduct a processing fee or offer you store credit instead of cash. Always ask what the terms are before handing over the card.

This option is worth trying only if you have a gift card from a local business or a smaller chain. For major retailers, resale platforms are faster and often yield a better rate.

What to avoid: gift card deposit scams

Scammers often target people who want to convert gift cards to cash. A common scheme works like this: someone offers to "deposit" your gift card into your bank account for a fee, or promises to buy your gift card at face value when resale platforms only offer 70 percent. They ask for the card number and PIN, take the money, and disappear.

Another version involves a scammer posing as a bank representative or payment processor. They call or text claiming they can move your gift card balance into your account if you provide the card details and verify your identity. This is always a scam. No legitimate bank or payment processor will ask for a gift card number this way.

Protect yourself by using only established resale platforms with buyer and seller protections, never sharing a gift card number with someone you do not know, and remembering that no one can magically move a gift card balance into your bank account—the systems do not work that way.

Frequently Asked Questions

Can I use a gift card to make a bank deposit?

No. A gift card is not a form of payment a bank accepts for deposits. You can only deposit currency (cash or checks), wire transfers, direct deposits, or transfers from another account. If you want to get cash from a gift card, you must sell it first or spend it and use the money you save for other purposes.

What if my gift card has a very small balance left on it?

Resale platforms typically have minimum balance requirements, often $5 to $10. If your card is below that, selling it is not worth the effort. Spend the remaining balance at the retailer, or donate the card to someone who can use it. Some platforms will accept lower balances, so check before giving up.

Do I lose money when I sell a gift card?

Yes, usually. Resale platforms pay 70 to 90 percent of face value on average, depending on the retailer and current demand. You lose the difference as a discount. This is the cost of converting the card to cash. If you need the money urgently, the discount is worth it; if not, spending the card yourself preserves its full value.

Can I deposit a Visa or Mastercard gift card into my bank account?

No, not directly. A Visa or Mastercard gift card is a prepaid card, not a bank account. However, you can use it to pay bills, make online purchases, or link it to a digital wallet. If you want to move the balance to your bank account, you must sell the card on a resale platform or spend it and deposit the cash separately.

Is it safe to sell my gift card online?

It is safe if you use an established platform like CardCash, Raise, or Decluttr. These sites have buyer and seller protections and hold payment until the transaction is verified. Never sell through a private message, email, or unknown website. Always check reviews and confirm the platform is legitimate before listing your card.