Direct transfers from gift cards to bank accounts are not possible
Most gift cards cannot transfer money directly into a bank account. The card issuer does not allow it, and your bank will not accept a transfer from a gift card the way it accepts transfers from another bank account. A gift card is a prepaid card tied to a specific retailer or payment network—it holds a balance you can spend at that retailer or network, but it does not connect to the banking system in a way that lets you move the balance elsewhere.
What you can do instead is spend the gift card balance on something you would normally buy, then use the money you save for other purposes. Or you can convert the card's value into cash or a bank deposit through a few specific methods, each with different costs and timelines.
Key Takeaways
- Gift cards cannot transfer directly to bank accounts because they are not connected to the banking system the way debit cards are.
- You can sell a gift card to a reseller like CardCash or Raise, receive cash or a bank deposit, and keep a percentage of the card's face value.
- Some retailers let you use a gift card to buy a money order or gift card to a different retailer, which you can then convert to cash.
- Peer payment apps like PayPal or Venmo do not accept gift card numbers directly, but some let you link a gift card as a payment method and then transfer your PayPal balance to your bank.
- The fastest route is usually a gift card reseller, which can deposit money into your bank account within one to three business days.
Selling your gift card to a reseller
Gift card resellers buy unused cards from you at a discount and resell them to other buyers. You receive cash or a bank deposit equal to a percentage of the card's face value. The percentage varies by card type, retailer demand, and the reseller's fees. A card worth $100 might sell for $85 to $95, depending on the retailer and current demand.
Common resellers include CardCash, Raise, and Decluttr. You list the card on their platform, they verify the balance (usually by asking you to enter the card number and PIN), and once a buyer purchases it, they deposit money into your bank account or send you a check. The timeline is typically one to three business days from sale to deposit. Some resellers also offer immediate payment at a lower percentage if you need the money faster.
Check the reseller's fee structure before you sell. Some charge a flat fee per card; others take a percentage of the sale price. Read the terms carefully, because some resellers hold your payment in escrow for a period after the sale in case the buyer disputes the card's balance.
Using a gift card to buy something you would purchase anyway
If you do not want to sell the card, you can spend it on items you would normally buy with your own money. This frees up cash in your bank account that you can then use for other purposes. This is not a direct transfer, but it achieves the same result: your gift card balance becomes available money in your account.
For example, if you have a $50 grocery store gift card and you normally spend $50 per week on groceries, use the gift card for that week's shopping. The $50 you would have spent from your bank account stays in your account instead. This works best when the gift card is for a retailer you use regularly.
Converting a gift card through a money order or secondary card
Some retailers let you use a gift card to purchase a money order or a gift card to a different retailer. Walmart, for example, sells money orders at its customer service desk. You can use a Walmart gift card to buy a money order, then deposit the money order into your bank account at an ATM or branch. Money order deposits typically clear within one to three business days.
Alternatively, some retailers sell gift cards to other retailers. You could use a Target gift card to buy an Amazon gift card, then sell the Amazon card to a reseller. This adds an extra step and may not save you money, but it can work if you have a card for a retailer that resellers do not accept.
Check your retailer's policy before you try this. Not all retailers allow gift card purchases with another gift card, and some restrict money order sales to customers with accounts or ID.
Linking a gift card to a payment app
Some payment apps like PayPal let you add a gift card as a payment method. You enter the card number and PIN, and the app treats it as a funding source for purchases or transfers. However, this does not move the gift card balance into your bank account directly. Instead, you can use the gift card to fund PayPal transactions, and then transfer your PayPal balance to your bank account if you have a PayPal Cash account.
This route is slower and more complicated than selling the card outright. You have to create or access a PayPal account, link the gift card, make a transaction or transfer, and wait for the bank deposit to clear. Most payment apps do not let you simply load a gift card balance into your account without a transaction in between.
What does not work
Do not try to use a gift card at an ATM or to deposit it like a check. ATMs only accept debit cards, credit cards, and bank cards—not gift cards. Banks will not accept a gift card as a deposit because it is not a negotiable instrument like a check.
Do not send a gift card number to someone else and ask them to deposit it for you. This is a common scam vector, and you lose all protection if the card is misused. Gift card resellers are the legitimate way to involve a third party.
Do not assume a gift card app or digital wallet will let you transfer the balance to your bank. Most do not. Read the terms of service for the specific card or app before you assume it has this feature.
Comparing your options by speed and cost
| Method | Timeline | Cost to You | Best For |
|---|---|---|---|
| Sell to a reseller (CardCash, Raise) | 1–3 business days | 10–20% of face value, plus fees | Fast conversion to cash; cards for any retailer |
| Buy a money order at retailer | 1–3 business days | $1–3 money order fee | Small cards; retailers that sell money orders |
| Spend the card on regular purchases | Immediate | None | Cards for retailers you use often |
| Link to PayPal and transfer | 3–5 business days | Varies by PayPal account type | If you already use PayPal; smaller amounts |
Frequently Asked Questions
Can I transfer a Visa or Mastercard gift card to my bank account?
No, not directly. Visa and Mastercard gift cards are prepaid cards, not bank accounts. You can sell them to a reseller, use them to buy a money order, or spend them on purchases. Some resellers specialize in Visa and Mastercard gift cards and may offer a higher percentage than for retailer-specific cards.
What if my gift card has a small balance left?
Small balances (under $5) are often not worth selling to a reseller because the fee will eat most of the value. Spend the card on a small purchase instead, or combine it with another payment method at checkout if the retailer allows it.
Do I lose money when I sell a gift card?
Yes. Resellers buy cards at a discount because they resell them at face value and need a margin. You typically receive 85–95% of the card's face value, minus any reseller fees. The exact amount depends on the retailer and current demand for that card.
How do I know if a gift card reseller is legitimate?
Use well-known resellers like CardCash, Raise, or Decluttr. Check their privacy policy and terms of service before you enter your card number. Legitimate resellers use encryption to protect your card data and have clear policies about payment timing and refunds.
Can I use a gift card to pay off a credit card or loan?
Not directly. Credit card companies and lenders do not accept gift card numbers as payment. You would need to convert the gift card to cash or a bank deposit first, then use that money to pay the bill.