The most direct way: load it to a digital wallet first
You cannot deposit a physical gift card directly into a bank account the way you would a check. But you can move the money from the card into your bank account in two steps: first load the gift card balance into a digital wallet (Apple Pay, Google Pay, PayPal, or a retailer's own app), then transfer from the wallet to your bank account.
The speed and fees depend on which wallet and which bank you use. PayPal, for example, lets you add most Visa and Mastercard gift cards to your account, then withdraw to your linked bank account within one to three business days at no cost. Apple Pay and Google Pay work differently — they let you use the card to pay for things, but do not offer a direct withdrawal to your bank.
If your gift card is from a specific retailer (Target, Amazon, Best Buy), check whether that retailer's app lets you link the card directly to a bank account. Some do; most do not. The retailer app usually lets you spend the balance in their store or online, but moving money out requires a third-party wallet or service.
Key Takeaways
- Physical gift cards cannot be deposited directly into a bank account; you must move the balance through a digital wallet or payment service first.
- PayPal is one of the most straightforward options — add your gift card, then transfer the balance to your linked bank account for no fee within one to three business days.
- Visa and Mastercard gift cards work with most digital wallets; retailer-specific cards (Target, Amazon) may have fewer transfer options.
- Some services charge a fee to convert gift card balance to cash; always check the terms before you start the transfer.
Using PayPal to move gift card money to your bank
PayPal accepts most Visa, Mastercard, and American Express gift cards. Log into your PayPal account, go to your wallet, and select "Link a card." Enter the gift card number, expiration date, and CVV. PayPal will verify the card with a small temporary charge (usually under $2), which it refunds once verification is complete.
Once the card is linked, you can transfer the balance to your bank account. Go to "Transfer Money," select "Transfer to Your Bank," and choose the linked bank account. PayPal will show you the available balance from the gift card and the transfer timeline — typically one to three business days for standard transfers, or up to one hour for instant transfers (which may carry a small fee, usually 1% of the amount).
The gift card balance will be drawn down as the transfer processes. If the card has a remaining balance after the transfer, you can leave it linked and use it for future PayPal purchases, or remove it from your account.
Moving retailer gift cards through third-party services
If you have a gift card from a specific store — Target, Best Buy, Walmart, Amazon — you have fewer direct options. Most retailer apps do not allow you to transfer the balance to a bank account. Instead, you can spend the balance in their store or online, or use a gift card exchange service.
Gift card exchange platforms like Raise, CardCash, and Decluttr let you sell your gift card for cash, though usually at a discount (typically 5 to 15% below face value). You list the card, the buyer purchases it, and the service deposits cash into your bank account or PayPal account. The timeline is usually three to seven business days, and the discount is the trade-off for converting the card to cash.
These services are legitimate but not free. If you are willing to spend the gift card balance at the retailer instead, that avoids the discount entirely. If you need cash and the retailer does not accept the card online or in a store you can reach, an exchange service may be your only option.
Visa and Mastercard gift cards: the easiest path
Visa and Mastercard gift cards (as opposed to retailer-specific cards) are treated like regular debit cards by most digital wallets and payment services. This makes them the simplest to move into your bank account.
Beyond PayPal, you can also link a Visa or Mastercard gift card to Square Cash, Venmo, or your bank's own mobile app if the bank offers card linking. Each service has different rules about whether you can withdraw the balance directly to your bank account or only use it to send money to other people. Check the app's help section or contact customer service to confirm what your specific card and service combination allows.
The advantage of Visa and Mastercard gift cards is that they work almost everywhere a regular card does, so you have multiple paths to move the money. Retailer-specific cards lock you into that retailer's ecosystem unless you use an exchange service.
What happens if your gift card has a small remaining balance
Most gift cards have a minimum balance requirement before you can transfer or withdraw. If your card has $2 left and you are trying to move $100, the service will transfer only the full amount and leave the remainder on the card. Some services will not process a transfer if the balance is below their minimum (often $5 or $10).
If you end up with a small remainder, you have a few options: spend it at the retailer or with a merchant that accepts that card type, leave it linked to your digital wallet for future use, or contact the card issuer to ask about combining balances if you have multiple cards from the same issuer.
Fees and timelines to expect
Most transfers from a digital wallet to your bank account are free if you choose standard processing (one to three business days). Instant or next-day transfers usually carry a fee of 1 to 3% of the amount, depending on the service.
Gift card exchange services charge a discount rather than an upfront fee — you receive less than face value, and the service keeps the difference. This is how they make money. PayPal and most digital wallets do not charge a fee to link a gift card or transfer the balance, though some may charge if you request expedited processing.
Always read the terms before you start a transfer. The fee structure and timeline can vary significantly between services, and choosing the wrong one can cost you money or time.
Frequently Asked Questions
Can I deposit a gift card directly at my bank's ATM or branch?
No. Banks do not accept gift cards as deposits. You must first move the balance to a digital wallet or payment service, then transfer from there to your bank account. Some banks let you link a gift card to your account for spending, but that is not the same as depositing it.
What if my gift card is expired or damaged?
An expired gift card cannot be used or transferred. Contact the card issuer (the retailer or the card brand) to ask about reissuing it or recovering the balance. A damaged card may still work if the number is readable; try linking it to a digital wallet. If that fails, contact the issuer with proof of purchase if you have it.
Do I need to spend the entire gift card balance at once?
No. Most digital wallets and payment services let you transfer the full balance or a partial amount. If you transfer $50 from a $100 card, the remaining $50 stays on the card. You can leave it linked and use it later, or transfer it in a separate transaction.
Is it safe to link my gift card to PayPal or another app?
Yes, if you use the official app or website. Linking a gift card to PayPal, Apple Pay, or Google Pay is as safe as using the card itself — these services use encryption and fraud protection. Never link your card through a third-party website or app that is not the official service.
How long does it take to see the money in my bank account?
Standard transfers take one to three business days. The digital wallet sends the money to your bank, and your bank processes it on its own schedule. Weekends and holidays can add time. Instant transfers (if available) usually post within one hour but may carry a fee.