How to Transfer Visa Gift Card to Bank Account? – 10 Simple Ways

How to transfer Visa gift card to bank account? – The question is asked time and time again whenever someone receives a gift card.

Well, gift cards are probably the most convenient and last-minute gifting option that fits right for every occasion. 

If you have a Visa prepaid card lying around, it’s time to make use of it, and you’ll be surprised to know the multiple ways of using it. In this blog, we’ll learn how to transfer Visa gift card to bank account and the steps involved. 

So let’s dive straight into it!

What is a Visa Gift Card?

Prepaid Visa Gift Cards are cards that are preloaded with some amount by the person gifting them. It is accepted for the purchase of goods and services at physical stores, online retailers, and phone orders, as well as anywhere Visa debit cards are accepted.

At the time of purchase, you can select the preloaded amount of money. The recipient can use the card until the balance runs out. The card offers an additional degree of privacy because it doesn’t require a bank account, credit check, or connection to any personal data.

Furthermore, because the recipient can select their gift, it’s a practical and adaptable gift option for a range of occasions.

The best part is that card issuers help you get your money back if your card is lost or stolen and you have the card number. These might have maintenance costs or expiration dates, and they are typically not reloadable.

How to Transfer Gift Card Balance To Bank Account? (5 Easy Methods)

If you most likely own a few gift cards that you never use, then you must use them now. If you were given a gift card as a present but are unsure of how to use it. You must be thrilled to know that you can without money from prepaid cards via several methods.

Let’s discuss all the ways in which you can transfer Visa gift card to bank account.

MoneyGram is a money transfer company that helps to transfer money domestically and internationally within a few seconds. 

There are various methods available if you want to transfer funds from a gift card to someone’s bank account, and utilizing a service such as MoneyGram is one of them.

Here’s how to use MoneyGram to move funds from a gift card to a bank account:

• Visit MoneyGram’s website and register for an account.
• Enter the amount from your gift card that you wish to transfer.
• Choose a gift card as the mode of payment.
• Put the recipient’s bank account details here.
• Transfer the funds, and the recipient will have access in a few days.

That is all there is to it! You now know how to transfer gift card money.

If you are a PayPal wallet user, moving funds from a gift card to your account will be a lot easier. Follow the steps written below to do the same:

• Access your PayPal account by logging in.
• Select Wallet from the menu at the top.
• Select Link a bank account or card.
• Enter the security code, expiration date, and number.
• Select Link Card.
• Once your bank account and Visa have been linked, click Withdraw and choose Transfer to a bank account to move the funds to your bank account.
• Click Submit after entering the desired transfer amount.

And that’s it! The money from your prepaid card has now been deposited into your bank account.

Venmo is a great digital platform that lets you make digital transactions. If you have a Venmo account, follow the steps below to transfer the prepaid amount to your bank account:

• Visit the Venmo website to create an account.
• After logging in, select the Payments tab.
• Click on the Add Payment Method button.
• Choose Prepaid Card as the mode of payment.
• Enter the amount you want to transfer money from your prepaid card to your bank account
• Enter the PIN and card number.
• Finally, select the Confirm option.

In just a few minutes, the funds will be moved to your bank account!

You must create a free account with Square before you can use it to transfer funds to your bank account. You can link your credit card or debit card once you have an account.

• Open your Square account and log in.
• Select the Cash tab.
• Select the Withdraw option.
• Choose a Gift Card as your withdrawal option.
• Enter the amount to transfer and select the Withdraw option.

After processing, the money from your withdrawal should arrive in your bank account in one to two business days.

Another great way to transfer funds from a Visa card to an account is by using Cash App. If you already have an account, follow the steps below: 

• Launch the Cash App and tap on the + symbol. After that, select Add Bank.
• After entering your bank’s details, select Add Bank.
• You can pick Cash Out by tapping on the Balance tab of the Visa gift card. 
• Finally, just enter the amount you wish to move to your bank account.

So these are some straightforward methods to transfer money from a Visa card to your account. 

5 More Methods for Transferring Money from Gift Card to Bank Account

In case you don’t want to use any digital payment applications to withdraw money from your brand-new card, here are a few options that you might like:

Sell Your Visa Gift Card Online 

With an exchange service, you can merchandise your gift card. In this manner, you can generate income that is significantly greater than the card’s face value.

Or, to make it easier to finish the cash transaction with the gift card, they can be traded in for a different kind of card. For instance, it’s a great idea to switch a Visa card for a card that is exclusive to a particular store. 

Via Gift Card Trading Website 

You can find many trading sites online. All you need to do is create an account and start selling. Follow the steps given below to get cash out of your Visa card;

• Check out websites like giftcardgranny.com.

  

• Locate the Card Balance field and enter the card’s available balance. 
• When prompted for the Card Type, select Visa from the drop-down menu.
• Click on the Find Buyers menu item.
• Every website will be displayed in your browser. In addition, each website will show you how much it expects to charge for your card.
• After carefully reading its instructions, decide which buyer you wish to work with moving forward.

Your Visa prepaid will be sold after the transaction is finished, and you will be paid for it.

Via Resell Apps

You may have an unused Visa gift card. But do not worry; it can be sold to resell apps for money. You’ll be happy to hear that there are a few apps out there that purchase these cards from users to sell them again.

It is certainly a simple and quick way to sell Visa gift cards through an app, but this method is not free. As a result, we recommend using this method only as a last resort. Also, before signing up, make sure to check the platform fees. 

Buy Money Order 

Another good way to turn gift cards into cash is to purchase money orders. You can exchange your Visa prepaid for money orders at certain locations, including banks, post offices, and grocery stores.

You must, however, confirm that this option is available in your area and complete the transaction offline if this option is valid in your location. After it’s finished, your money order will arrive at your bank.

Use a Gift Exchange Kiosk 

You can also trade your gift cards for cash via exchange kiosks. These include Target, Walmart, Walgreens, Kroger, CVS, and many more. Here are the steps you need to follow to get cash for the gift card:

• Visit your neighborhood stores to locate a gift exchange kiosk. 
• Place your card inside the kiosk and follow the on-screen instructions.
• They will let you exchange your card for cash after it has been validated.
• If you choose the cash option, you will be given a voucher to present to the customer service desk.
• At the customer service desk, your voucher will be successfully exchanged for cash!

So these are a few methods to convert your gift cards into cash. Moving ahead, let’s discuss the essential points you must know before carrying out the transfer procedure. 

What You Must Know About Transferring Money from Gift Card to Bank Account?

There are certain things that you need to keep in mind before transferring the balance of your card to your bank account. Let’s discuss them here.

1. Know About Your Card Balance 

It’s important to be aware of the balance before making any transfers. By doing this, you can make sure the right amount is transferred and find out if any fees have been deducted.

Call Customer Service: Turn the back of your card over. Find the customer service number and contact them. They will walk you through the process and inform you of the remaining balance once they have obtained certain card details.

Online Balance Check: Go to the relevant website to check if the issuer offers online services. There will usually be a section labeled Check Balance or something comparable. To view your balance, enter your card number, expiration date, and any other necessary information.

2. Know About Transfer Limits 

It is not possible to use every Visa prepaid for every kind of transaction. Restrictions may apply, particularly if you attempt to move the balance to a bank account. By being aware of these restrictions, you can avoid running into problems down the road.Examine the cardholder agreement: Usually, you can find this online or in a pamphlet or booklet that was included with your gift card. The dos and don’ts with your card are explained in this document.Consult your bank: Sometimes the bank is the problem, not the gift card. They may have guidelines or procedures unique to these transfers. You can learn more by calling or visiting your bank.

3. Know About the Charges 

There are usually costs associated with money transfers, particularly when there is a middleman. To avoid being taken off guard, it is imperative to be aware of any costs upfront.Consult the Cardholder Agreement: This is an important document once again. It should include information on any fees related to various transaction types.Verify With Service Providers: Always confirm the fee schedule of any third-party service you use, such as PayPal or another platform for money transfers. Typically, they will provide detailed information about this on their website or through customer service.

So these are the few things that you must know before proceeding to transfer Visa prepaid card to account. Once you are familiar with these things, you are good to go. 

We hope this article will guide you in performing all the methods accurately. Also, don’t forget to share it with your friends too!

Frequently Asked Questions 

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