With new banking methods constantly entering the financial industry, it's certain that sooner or later, cash will lose it's place as king — that's if only its still king.
Gift cards are prepaid cards loaded with a certain amount of money that can be used for transactions and offer the convenience for easily carrying money.
However, most gift cards don't come as convenient as others — that is; some might be useless if the service dedicated for them doesn't interest you even a little.
In this case, knowing how to transfer Visa gift card to bank account can be crucial for using the balance in the gift card because once in your bank account, you can use the money for lot of transactions that matter for you.
Unfortunately, gift cards balances can't be directly transferred to a brick-mortar-bank accounts, however, you can transfer the money directly if the bank account supports the transaction.
For the convenience of everyone, it would be best to know how to transfer the money whether your bank account supports the transfer or not.
To address this issue, we've compiled the best ways to transfer Visa gift card balance to bank account.
Table of Contents
Can I Transfer Visa Gift Card To Bank Account?
Yes, you can transfer money Visa gift card from Visa gift card to bank account, though not directly.
You'll need to make sure your gift card is loaded with enough balance and that it has not yet expired before considering to transfer funds from it.
How To Transfer Visa Gift Card To Bank Account
There are a couple of ways to transfer Visa gift card balance to bank account.
While most of these ways are indirect, there's a direct way to transfer the funds.
1. Do a Direct Transfer
If you have a bank account that supports transfers from gift cards, then you can simply transfer money from the Visa gift card to your bank account.
Perhaps, this works best with online banks since a good number of them support this transfer.
For instance, Revolut is an online bank that allow users transfer money from their gift cards to their online bank accounts.
It is, however, important to check and see if your bank can support transfer from gift cards to avoid you the hassle from going through indirect methods.
Also Read: How To Transfer Money From Credit Card To Bank Account
2. Transfer Visa Gift Card to Bank Account through PayPal
PayPal is a popular payment service that allow users send and receive money online to and from any part of the world.
PayPal supports a good number of prepaid gift cards and you can just add your gift card to PayPal through the following steps:
- Log into your PayPal Wallet on PC.
- Click "Link a debit or credit card."
- Tap "Link a card manually" if given the option to link manually or through a bank.
- Enter the gift card information.
- Tap "Link Card."
Once the funds in your PayPal account, you can transfer the funds from the prepaid gift card to your PayPal balance.
After you must have transferred the funds to your PayPal balance, you can now withdraw the money from your PayPal account to your bank account.
To do this:
- Go to Wallet.
- Click "Transfer Money."
- Click "Transfer to your bank."
- Select in minutes (1.75% fee).
- Follow the instructions.
3. Use MoneyGram
MoneyGram makes it simple to transfer a Visa Gift card to a bank account. It is a quick and reliable method of transfer. To do so, simply follow these steps:
Sign up for MoneyGram and establish an account.
To open an account with MoneyGram, simply enter your email address and password. After that, you can confirm your email address.
Click "Send Money" on the MoneyGram website to be redirected to a new page where you must input the payment details.
Enter the amount to be transferred, then choose a debit or credit card and the "Account Deposit" option. Your Visa gift card must be linked to the bank to whom you are sending funds.
After you've submitted your payment information, you'll need to enter your bank information.
You will be led to a page where you must input the recipient's name, address, and credit card information. Then click the next button to have your request processed.
A fee will be assessed based on the amount transferred.
Transfers under $200 will be charged $1.99, and transfers over $200 will be charged $1.99 plus 1% of the amount transferred. The maximum amount of money you can transact per transaction is $10,000.
4. Sell Visa Gift Card for Cash
Another great way to transfer Visa gift card balance to bank account is by selling or converting the gift card for cash.
The process is easy and straightforward; — all you'll need to do is to look for a gift card exchange platform, place your gift card and wait for a seller.
To sell visa git card for cash:
- Get your gift card information.
- Place the gift card for sell on a gift card exchange platform such as CardCash, GiftCash.
- Request to get paid through direct deposit or wire transfer.
- Receive your cash into your bank account.
Transfer Visa Gift Card to Bank Account Venmo
Venmo is a popular payment service that allow users send and receive payments safely and conveniently.
You can add your gift card to Venmo and complete your transactions; — you don't even need to transfer Visa gift card balance to bank account Venmo before using the gift card money on the app.
To do so:
- Download Venmo app and open it.
- Click on Add Card option
- Enter your gift card details.
- Use the gift card as a funding source for your Venmo transactions.
Nevertheless, if you want to transfer money from a Visa gift card to your bank account on Venmo, you can simply transfer the money to your Venmo balance after you've linked the card; — it'll be similar to adding money to Venmo with a prepaid card.
After you've added funds, you can withdraw them to your linked bank account.
Also Read: How To Transfer Money From Debit Card To Bank Account
How to Transfer Vanilla Gift Card to Bank Account
The Vanilla Visa Gift Card is a prepaid Visa gift card that can be purchased online in amounts ranging from $10 to $500.
They are excellent special-occasion gifts as well as thank-you gifts for clients, employees, and business partners.
To transfer a Vanilla gift card to a bank account, go to CardCash or GiftCash and sell the gift card.
You can then enter your bank account information to get paid quickly for your Vanilla gift card balance.
How to Transfer MasterCard Gift Card to Bank Account
You can only transfer Mastercard gift card to bank account at an ATM if only the card supports it and has a PIN.
To do this, you'll first have to withdraw the funds from the card and deposit it to your bank account.
Frequently Asked Questions
Can I transfer a gift card to my bank account?
Yes, you can transfer money from a gift card to a bank account through services like PayPal, Venmo or MoneyGram.
Can you withdraw money from a Visa gift card?
Yes, there are many ways to withdraw money from a Visa gift card, of which the most common is converting it to cash through Gift card exchange platforms.
Final Thoughts
Visa gift cards are usually loaded with an amount that can be used to complete transactions.
However, if you're looking to make your funds more flexible, then transferring them to a bank account is one of the best options you can consider.
Thankfully, there are plenty of ways to transfer money from Visa gift card to bank account including a direct transfer (common for online banks), using PayPal, MoneyGram or even Venmo or sell them for cash.
While looking to transfer the funds, consider trying out all the methods to see which one works best for you.