You cannot deposit a gift card directly into a bank account, but you have several ways to convert the balance to cash or move it to a linked account
A gift card is not a bank account and does not connect to the banking system the way a debit card does. Your bank will not accept a gift card number as a deposit, and you cannot transfer the balance through an ATM or online banking portal. However, you can move the money off the card through a few concrete routes: spend it at the retailer or partner merchants, transfer it to a digital wallet, use a third-party service to convert it to cash, or in some cases ask the issuer to send you a check.
The method that works depends on the card type, the issuer, and whether you want the money as spendable funds or as a bank deposit. Some paths are free; others charge a fee. Some are instant; others take days or weeks.
Key Takeaways
- Gift cards cannot be deposited directly into a bank account because they are not linked to the banking system.
- You can transfer many gift card balances to a digital wallet like PayPal or Apple Pay, then withdraw the money to your bank account.
- Some retailers let you use a gift card to buy a prepaid debit card or reload an existing one, which you can then link to your bank.
- Third-party services like CardCash or Raise buy gift cards at a discount, but you receive cash or a bank transfer minus their fee.
- Requesting a check from the card issuer is slow but free, though not all issuers offer this option.
Transfer the gift card balance to a digital wallet
Many gift cards can be added to digital payment apps like PayPal, Apple Pay, Google Pay, or Amazon Pay. Once the card is linked, you can often transfer the remaining balance to a bank account connected to that wallet. The process varies by card type and app, but the general path is: open the app, select "Add Payment Method" or "Link Card," enter the gift card number, and then look for a "Transfer to Bank" or "Withdraw" option.
PayPal is one of the most flexible options. If you add a Visa, Mastercard, or American Express gift card to your PayPal account, you can transfer the balance to a linked bank account, though PayPal may hold the funds for a few days depending on your account history. Apple Pay and Google Pay let you add gift cards but typically only for spending at merchants that accept those wallets—they do not offer direct bank transfers. Amazon Pay works similarly: you can use the gift card to fund your Amazon account, but transferring that balance to a bank account is not a standard feature.
Check the specific app's help section before you start, because not all digital wallets accept all card types, and some have minimum balance requirements.
Buy a prepaid debit card or reload card with the gift card
If the gift card is from a major retailer like Target, Walmart, or Best Buy, you can often use it to purchase a prepaid debit card or a reload card for an existing prepaid account. Prepaid debit cards function like bank accounts and can be linked to your actual bank for transfers. This route requires you to buy the prepaid card first (which may have an activation fee of $5 to $10), but once it is active, you can move money between it and your bank account.
Some retailers also sell reload packs for services like Green Dot or NetSpend. If you already have an account with one of these services, you can use your gift card to add funds directly, then transfer the balance to your bank account through the prepaid card's app or website. This is faster than buying a new card and avoids a second activation fee.
The catch: you are spending money on the prepaid card itself, so you lose a portion of the gift card balance to fees. If the gift card has $50 and the prepaid card costs $10 to activate, you end up with $40 in the prepaid account. Only use this method if the gift card balance is large enough to absorb the fee.
Sell the gift card to a third-party service
Services like CardCash, Raise, and Gameflip buy unused gift cards from you and pay you in cash or a bank transfer. The process is straightforward: you enter the card details on their website, they verify the balance, and they make you an offer based on the card type and remaining balance. If you accept, they send payment to your bank account or PayPal, usually within a few business days.
The trade-off is that you will not receive the full face value. A $100 gift card might sell for $85 to $95, depending on the retailer and current demand. CardCash and Raise typically take 5 to 15 percent of the balance as their fee. The exact percentage varies by card type—popular retailers like Amazon or Target command higher prices than smaller or regional chains.
These services are legitimate and have been operating for years, but they do require you to provide the card number and PIN (if applicable) to a third party. Only use a service with clear privacy policies and user reviews. Read the terms before you proceed, because some services hold funds in escrow for a short period to verify the card balance is accurate.
Request a check from the card issuer
Some gift card issuers, particularly those for Visa, Mastercard, or American Express, allow you to request a check for the remaining balance. This is usually a last resort because it is slow and not all issuers offer it, but it is free and requires no third-party service.
To learn about this option is available, contact the card issuer's customer service number (usually printed on the back of the card) and ask if they can mail a check for the balance. They may require you to provide proof of the card number and your mailing address. Processing times vary widely—some issuers send a check within two weeks, others take a month or longer. Once you receive the check, you deposit it into your bank account through mobile deposit, an ATM, or a branch visit.
This method works best if you have a small balance remaining and do not need the money urgently. It also avoids fees, which makes it attractive for low-value cards that would lose too much to a third-party service's cut.
Spend the gift card at the retailer or partner merchants
The simplest way to use a gift card is to spend it on what it was intended for. If it is a store gift card, use it to buy something you need, then use your bank account or debit card for other purchases. If it is a Visa or Mastercard gift card, you can use it anywhere those cards are accepted—online, in stores, or to pay bills.
This does not move money into your bank account, but it frees up money in your bank account that you would have spent anyway. If you have a $50 gift card and use it to buy groceries, you keep $50 in your bank account that you would have withdrawn for the same purchase. The net effect is the same as a bank deposit, just without the transfer step.
Some gift cards also work with partner merchants. For example, a Visa gift card works at any Visa-accepting business. A store-specific card might work at related retailers or online partners. Check the card's terms or website to see where you can use it.
Understand the fees and timing for each method
| Method | Fee | Timing | Best For |
|---|---|---|---|
| Digital wallet transfer | None (usually) | 1–3 days | Visa/Mastercard gift cards; fast access to funds |
| Prepaid debit card | $5–$10 activation | 1–2 days | Large gift card balances; ongoing account use |
| Third-party reseller | 5–15% of balance | 3–5 business days | Any gift card type; quick cash conversion |
| Check from issuer | None | 2–4 weeks | Small balances; no urgency |
| Spend at retailer | None | Immediate | Any gift card; no conversion needed |
The fastest and cheapest method is usually a digital wallet transfer, but it only works for certain card types. The most flexible method is a third-party reseller, but you lose a percentage of the balance. The slowest method is a check from the issuer, but it costs nothing.
Before you choose a method, calculate whether the fee is worth it. If you have a $20 gift card and a third-party service takes 10 percent, you receive $18. If you have a $100 gift card, you receive $90. The larger the balance, the more sense it makes to convert it. For small balances, spending the card or requesting a check may be better.
Frequently Asked Questions
Can I deposit a gift card directly into my bank account online?
No. Banks do not accept gift card numbers as deposits because gift cards are not connected to the banking system. You must first convert the balance to cash or move it to a digital wallet that links to your bank, then transfer from there.
What if my gift card is from a small store or restaurant?
Small or regional gift cards are harder to convert because third-party resellers may not accept them, and digital wallets typically only work with major card networks like Visa or Mastercard. Your best options are to spend the card at the retailer, contact the issuer to ask about a check, or look for a local reseller in your area.
Do I lose money when I transfer a gift card to PayPal?
PayPal does not charge a fee to add a gift card or transfer the balance to your bank account. However, if you use PayPal's standard transfer to your bank, the funds may take 1–3 days to arrive. Instant transfers to your bank are available but may have a small fee (usually $0.25 to $1.50).
Is it safe to sell my gift card to a third-party service?
Established services like CardCash and Raise have been operating for years and are generally safe, but you are sharing your card number with a third party. Only use services with clear privacy policies, strong user reviews, and transparent terms. Avoid services that ask for more information than the card number and balance.
How long does it take to get money from a gift card into my bank account?
It depends on the method. Digital wallet transfers usually take 1–3 days. Third-party resellers take 3–5 business days. Checks from the issuer take 2–4 weeks. Prepaid debit card transfers are usually instant or next-day once the card is activated.