Most gift cards cannot be transferred directly to a bank account

The short answer is no—you cannot move a gift card balance into your bank account through the card issuer or your bank. Gift cards are closed-loop payment instruments, meaning the money lives on that card and cannot be withdrawn as cash or moved to another account. Visa and Mastercard gift cards sometimes allow ATM withdrawals, but store-branded cards (Target, Amazon, Starbucks) do not.

What you can do instead is spend the card down by making purchases, or use third-party resale platforms to convert the remaining balance into cash or a payment method you control. Each route has different fees, timing, and restrictions depending on the card type and the platform you choose.

Key Takeaways

  • Store gift cards (Target, Best Buy, Sephora) cannot be transferred to a bank account under any circumstances.
  • Visa and Mastercard gift cards may allow ATM withdrawals, but fees typically range from $2 to $5 per transaction.
  • Resale platforms like Raise and CardCash buy unused gift cards at a discount, usually 70 to 95 percent of face value, and pay via bank transfer or PayPal.
  • Spending the card down through normal purchases is the only way to access the full value without losing money to fees or discounts.

Why gift card balances stay on the card

Gift cards are prepaid accounts tied to a specific merchant or payment network. The money you load onto them is held in trust by the issuer, not by your bank. When you swipe a gift card, the transaction goes directly to the merchant or card network, not through your bank account. This is why your bank cannot pull the balance out—it has no access to the funds.

Store-branded cards (Amazon, Walmart, CVS) are the most restrictive. The balance exists only within that retailer's system and can only be spent there. Visa and Mastercard gift cards are slightly more flexible because they run on the payment network, but even those are not linked to a bank account and cannot be reversed into one.

ATM withdrawals on Visa and Mastercard gift cards

Some Visa and Mastercard gift cards allow you to withdraw cash at an ATM, but not all. Check your card's terms or call the number on the back to confirm whether ATM access is available. If it is, you can use any ATM that accepts Visa or Mastercard, just like a debit card.

The catch is fees. Most ATM withdrawals on gift cards cost $2 to $5 per transaction, depending on the card issuer and the ATM operator. If your card has a $50 balance and you withdraw it all, you might lose $2 to $5 to fees. Some cards also charge a monthly maintenance fee if the balance sits unused, which eats into what you have left.

This method works if you need cash quickly and the card allows it, but it is not a way to move money into a bank account—it is a way to convert the card into cash you hold in your hand.

Selling your gift card on resale platforms

Websites like Raise, CardCash, and Decluttr buy unused or partially used gift cards from you and pay you cash or a bank transfer. The process is straightforward: you list the card, a buyer purchases it, you send the card details to the platform, and they send you payment once the card is verified.

Payment typically arrives within 1 to 5 business days via bank transfer, PayPal, or check. However, you will not receive the full face value. Most platforms pay 70 to 95 percent of what the card is worth, depending on demand for that retailer. A $100 Target card might sell for $85 to $95; a $100 Amazon card might sell for $90 to $98. Popular retailers and cards with higher balances tend to fetch better rates.

Fees vary by platform. Some charge a flat percentage (typically 1 to 2 percent of the sale price), while others take a cut of the difference between face value and what they pay you. Read the terms before you list, because the payout you see may not be what you actually receive after fees.

Spending the card down through purchases

The only way to access the full value of a gift card is to spend it. This is not a transfer to your bank account, but it does put the money to use without losing it to fees or discounts.

If you have a card for a store you do not shop at often, consider buying something you would normally purchase elsewhere—groceries, gas, household items—and use the card to pay. You can also buy gift cards for other retailers or services you know you will use, though this just moves the problem to a different card.

Some people buy discounted items on clearance or during sales to stretch the card's value further. Others use it to pay for services like streaming subscriptions or phone bills if the retailer offers those options. The goal is to spend it on something you would have paid for anyway, so the card does not represent lost money.

What to do if the card is lost or damaged

If your gift card is lost or the card itself is damaged but you know the balance, contact the issuer or retailer directly. Most companies can look up the card by number (if you have a receipt or email confirmation) and reissue the balance to a new card or, in some cases, to a store account.

Store-branded cards are usually easier to recover because the retailer has your purchase history and can verify the card was yours. Visa and Mastercard gift cards are harder to trace unless you registered the card when you received it. Keep your receipt or confirmation email in case you need to prove ownership.

If the card was a gift and you do not have proof of purchase, the retailer may still help you if you can provide the card number and the approximate balance. Call customer service and explain the situation—many companies will work with you rather than let the balance go unused.

Frequently Asked Questions

Can I transfer a gift card balance to PayPal or Venmo?

Not directly. However, you can sell the card on a resale platform and request payment to PayPal, which takes 1 to 5 business days. Some platforms also offer PayPal as a payout option, so you do not have to wait for a bank transfer.

What if my gift card has a small balance left?

Small balances (under $10) are usually not worth selling because resale platforms take a percentage cut and the payout will be minimal. Spend it on a small purchase instead, or combine it with another payment method at checkout if the retailer allows it.

Do I lose money if I sell a gift card?

Yes. Resale platforms pay 70 to 95 percent of face value, so you lose 5 to 30 percent of what the card is worth. The discount depends on how popular the retailer is and how much demand there is for that card at the time you sell.

Can I use a gift card to pay my credit card bill?

No. Credit card companies do not accept gift cards as payment. You would need to spend the gift card on something else and use the money you save for your credit card payment instead.

What happens to a gift card if I never use it?

Most gift cards do not expire, but some charge monthly maintenance fees if the balance sits unused for a long time. Check your card's terms. If fees apply, you will lose money every month until the balance is gone, so it is better to spend or sell the card sooner rather than later.