How To Transfer Money From A Gift Card To A Bank Account?| MENAFN.COM

Monday, 05 December 2022 01:52 GMT

How To Transfer Money From A Gift Card To A Bank Account?


(MENAFN- ValueWalk)

Gift cards are a popular gift option, but what to do if you don't want to use them? Or maybe the card is for a store that doesn't have a location near you. You can quickly transfer money from a . Here's how to do it.

There are several ways to transfer money from a gift card to a bank account. One option is to link the gift card to an online payment service like PayPal, Venmo, or Cash App. Once the card is connected, you can simply forward the money to your bank account. Another option is to use a prepaid debit card that you can link to your bank account.

You can use these cards to withdraw Cash from an ATM or make purchases anywhere that accepts debit cards. Check out this guide for more information on how to do it!

Fund Manager Profile: Kris Sidial Of Tail Risk Fund Ambrus Group

A decade ago, no one talked about tail risk hedge funds, which were a minuscule niche of the market. However, today many large investors, including pension funds and other institutions, have mandates that require the inclusion of tail risk protection. In a recent interview with ValueWalk, Kris Sidial of tail risk fund Ambrus Group, a

Table of Contents
What is A Gift Card?

A gift card is a prepaid debit card that you can use to make purchases at various retail stores, online merchants, or even restaurants. Gift cards are an increasingly popular gift choice because they allow recipients to choose the perfect present.

Gift cards usually come with a set value, such as $50 , which is pre-loaded onto the card by the purchaser. The recipient can then use the card to spend up to that amount, depending on the merchant's policy. Once the balance on the card is depleted, you cannot use the card anymore.

A gift card can be a convenient way to give someone a gift, especially if you don't know what they want. They can also be an excellent way to save money on your shopping. However, it's important to remember that gift cards are not the same as Cash. They often have expiration dates and fees , so it's essential to read the terms and conditions before you buy or use one.

Types Of Gift Cards

There are many types of gift cards available on the market today. Here is a look at some of the most popular types:

  • Store Gift Cards – You can use these cards only at a specific retail store or chain of stores. They are usually reloadable, which means you can use them multiple times. Store gift cards are an excellent choice for those who want the flexibility to shop at various locations.
  • Restaurant Gift Cards – These cards are specific to some restaurants or chains of restaurants. You can quickly load them whenever you want. Restaurant gift cards are perfect for food who love to try new things.
  • Cenima Gift Cards – You can use these cards to purchase movie tickets or rentals at a specific theatre or chain of theatres. Movie gift cards are ideal for those who love going to the cinema.
  • E-Gift Cards – These cards are functional for shopping at some online retailers. Online shopping gift cards are the ideal choice for those who prefer to shop from the comfort of their own home.
  • Travel Gift Cards – You can use these cards to book travel accommodations or airfare. These cards can help you to explore new places. Gas gift cards are ideal for those who commute or travel often.
  • Gas Gift Cards – You can get benefits from these cards to purchase gas at a few stations or chains of stations.
  • General Purpose Gift Cards – You can use these cards anywhere that . They are not usually reloadable. General purpose gift cards are an excellent choice for those who want the flexibility to use their card anywhere.
  • Custom Gift Cards – These cards are designed specifically for a specific recipient or occasion. You can use them for any purpose the card issuer decides. Custom gift cards are perfect for those who want a truly unique gift.
  • Virtual Gift Cards – These cards are purchased online and emailed to the recipient. You can use them to make purchases at the online retailer where they were bought. Virtual gift cards are great for those who prefer to shop online.
  • Now that you know about the different types of gift cards available, you can decide which type is right for your needs.

    How To Transfer Money From Gift Card To Bank Account?

    Like most people, you probably have a few gift cards you never use. Or maybe you've received a gift card as a present but don't know how to use it. Did you know that you can transfer money from your gift card to your bank account?

    If you have a gift card that you would like to use to transfer money to your bank account, there are a few different ways:

    Via PayPal Wallet

    If you have a Gift Card and would like to transfer the funds to your bank account, you can do so easily via PayPal Wallet. Simply follow the steps below:

  • Log in to your PayPal account .
  • Click 'Wallet' at the top of the page.
  • Click ' Link a card or bank account .'
  • Enter your Gift Card number , expiry date, and
  • Click ' Link Card .'
  • After linked bank account card, you can transfer visa gift card funds to your bank account by clicking 'Withdraw' and select ' Transfer to a bank account .'
  • Enter the amount you wish to transfer and click 'Submit .'
  • That's it! You've now transferred the funds from your Gift Card to your bank account.

    Via Cash App

    If you have a Gift Card and want to transfer the money to your bank account, you can . To begin:

  • Open up the Cash App and tap on the '+' sign . From there, select 'Add Bank .'
  • Enter your bank information and then hit 'Add Bank .'
  • You can tap on the visa gift card 'Balance' tab and select Cash Out . From there, you can enter the amount of money you want to transfer from your Gift Card to your bank account.
  • That's all there is to it! 

    Via Venmo

    Here's how to do it:

  • Go to the Venmo website and sign up for an account.
  • Once you're logged in, click on the“ Payments ” tab.
  • Click on the “Add Payment Method ” button.
  • Select“ Gift Card ” as your payment method.
  • Enter the amount of money you want to transfer from your gift card to your bank account.
  • Enter your gift card number and PIN.
  • Click on the“ Confirm ” button.
  • Your money will be transferred from your gift card to your bank account within a few minutes!
  • Via Square

    Square is a popular payment processing service that allows you to accept and process credit and debit card payments. You can also use Square to send and receive money.

    To use Square to transfer money from your gift card to your bank account, you will first need to sign up for a free account. Once you have an account, you can link your credit or debit card.

  • Log in to your Square account.
  • Click on the“ Cash ” tab.
  • Click on the“ Withdraw ” button.
  • Select“ Gift Card ” as the withdrawal method.
  • Enter the amount you wish to withdraw from your gift card.
  • Click on the“ Withdraw ” button.
  • Your withdrawal will be processed, and the funds will be in your bank account within 1-2 business days.
  • Via MoneyGram

    If you have a gift card you would like to use to send money to someone's bank account, there are a few different ways you can do so. One option is to use a service like MoneyGram.

    Here's how to transfer money from a gift card to a bank account using MoneyGram:

  • Go to the MoneyGram website and create an account.
  • Enter the amount you want to transfer from your gift card.
  • Select 'gift card' as the payment method.
  • Enter the recipient's bank account information.
  • Send the money, which the recipient will get n their account within a few days.
  • That's all there is to it! Now you know how to transfer money from your gift card to your bank account using different websites and platforms.

    How to Convert Your Gift Card to Cash?

    It can be tricky to convert a gift card to Cash, but it is possible. If you have a Visa gift card and are looking to turn it into Cash, a few options are available.

    Sell Your Visa Gift Cards

    One option is to sell gift cards to a gift card exchange service. These services allow you to sell your gift card for Cash and typically offer a slightly higher rate than the card's face value. Another option is to exchange your Visa gift card for a different type of gift card that provides a simpler conversion method.

    For example, you might exchange your Visa gift card for a store-specific gift card that you can use to purchase items from that store and sell for Cash. Here are some different ways how can you sell your visa gift card:

    Use A Website

    Do you have a Visa gift card that you don't need? If so, you can sell it online using a website like Gift Card Granny .

    Here's how it works:

  • Go to .
  • Enter the amount of money on your Visa gift card into the“ Card Balance ” field.
  • Select“ Visa ” from the drop-down menu next to“ Card Type .”
  • Click on the “Find Buyers ” button.
  • A list of websites that buy Visa gift cards will be displayed , along with the amount of money they are willing to pay for your card.
  • Select the buyer you want to sell your card to and follow their instructions.
  • Once the transaction is complete, you will have sold your Visa gift card and will receive the payment from the buyer.
  • Selling your unwanted Visa gift card is a great way to get rid of it and earn extra money. So if you have a card you don't need, check out Gift Card Granny and sell it today!

    Use A Selling App

    If you have a Visa gift card that you're not using, you can sell it using an app . There are a few different apps that you can use to do this, but we recommend using Cardpool.

    Cardpool is an app that allows you to sell your gift cards for Cash. They will buy Visa gift cards from you and resell them to other people. This is a great way to get rid of a gift card you don't want or need.

    To sell your Visa gift card using Cardpool: 

  • Simply download the app and create an account.
  • Then, add your Visa gift card to the app and set a price .
  • Once someone buys your card, you'll get paid via PayPal .
  • If you're looking for a quick and easy way to sell your Visa gift card, Cardpool is an excellent option.

    Directly To Another Person

    If you'd rather sell your Visa gift card directly to another person, you can do so by finding someone interested in buying it. You can ask around family and friends or search for potential buyers online. Once you find a buyer, agree on a price and payment method before completing the sale.

    A few options are available if you want to sell your Visa gift card directly to another person. You can list it for sale on a site like Craigslist or eBay, or you can find someone interested in buying it now from you .

    Set a reasonable price if you decide to sell your Visa gift card on Craigslist or eBay. You'll also need to be careful when dealing with buyers , as there is always the potential for scams .

    Pay Bills With Gift Cards

    You can use gift cards to pay your bills. This can be a great way to avoid late fees or interest charges . Simply enter the gift card number and expiration date when prompted during bill payment. You can also use gift cards to pay for other services, such as online subscriptions or memberships.

    You can often redeem your points or miles for gift cards if you have a rewards credit card. This can be a great way to get a discount on your bill payments. Some rewards programs even allow you to transfer points or miles to a designated billing account. Check with your credit card issuer to see what options are available.

    Paying bills with gift cards can be a great way to stay on top of your finances . With some planning, you can use gift cards to save money and keep your .

    Use A Gift Exchange Kiosk

    If you've ever received a gift card that you can't use, you know how frustrating it can be. But did you know there are kiosks where you can convert your unwanted gift cards to Cash? These Kiosks include Target, Walmart, Walgreen, Krogers, and CVS. Let's check how it works for each:

    Target

    You can easily convert your unwanted gift cards to Cash using a gift exchange kiosk at Target. Here's how it works:

  • Find a gift exchange kiosk at your local Target store . The locations are usually near the service desk.
  • Insert your gift card into the kiosk and follow the prompts on the screen.
  • Once your card is verified, they will allow you to receive cash or Target gift cards in exchange for your card.
  • Choose the cash option , and they will give you a voucher to take to the customer service desk.
  • You're done to exchange your voucher for Cash at the customer service desk !
  • It's that easy to convert your unwanted gift cards into Cash.

    Walmart

    If you have a gift card you don't want or need, you can exchange it for Cash at a Walmart gift card exchange kiosk. Here's how to use a gift card exchange kiosk at Walmart:

  • Find the kiosk .
  • Insert your gift card into the kiosk.
  • Enter the amount of Cash you want to receive.
  • 4. Take your Cash and receipt .
  • Remember that you will likely only receive a fraction of the value of your gift card when you exchange it for Cash at a Walmart gift card kiosk.
  • Walgreens

    If you would like to convert your gift card to Cash, you can use a gift exchange kiosk at Walgreens. Here's how it works:

  • Find a gift exchange kiosk at a participating Walgreens location.
  • Insert your gift card into the kiosk.
  • Enter the amount of Cash you would like to receive.
  • Receive your Cash from the kiosk.
  • It's that easy! With a gift exchange kiosk at Walgreens, you can quickly and easily convert your unwanted gift cards into Cash.

    Kroger

    If you have a gift card, you don't want or need, you can exchange it for Cash at a Kroger gift exchange kiosk. To get started:

  • Simply select the “Gift Cards ” option on the main screen of the kiosk.
  • Then, insert your gift card into the kiosk and follow the on-screen instructions.
  • The kiosk will provide you with a quote for the cash value of your card.
  • You'll receive Cash from the kiosk immediately if you accept the quote.
  • There's no need to wait for a check in the mail or anything like that. And that's all there is to it! Converting your unwanted gift cards to Cash has never been so easy.
  • CVS

    If you have an unused gift card sitting around, you can convert it to Cash by using a gift exchange kiosk at CVS. Here's how:

  • Find a kiosk location. Look for a bright red machine that says“ Gift Card Exchange” on it. There should be one near the customer service counter in each CVS store.
  • Insert your gift card. Once you've found a kiosk, insert your gift card into the slot on the front of the machine.
  • Choose how you want to be paid . The kiosk will ask you how you would like to accept your Cash. You can choose to receive it as a CVS store gift card.
  • Receive your Cash . That's it! Once you've selected, the kiosk will dispense your Cash (or gift card), and you're free to spend it however you like.
  • Keep in mind that the kiosk will only give you a portion of the value of your gift card.

    Buy a Money Order

    If you have a gift card that you would like to convert to Cash, one option is to buy a money order. You can purchase money orders at most post offices, grocery stores, and banks. You must pay with Cash or a debit card when buying a money order. They will deduct the money order amount from the balance of your gift card.

    Buy Other Merchant's Gift Cards

    If you have a gift card you're not using, you can convert it to Cash by buying other merchants' gift cards. Here's how:

  • Find a merchant that sells gift cards.
  • Choose the type of gift card you want to buy.
  • Enter the amount of money you want to spend.
  • Pay for the gift card with your credit or debit card.
  • Use the gift card to purchase merchandise from the merchant.
  • When you're finished shopping , return the unused portion of the gift card to the merchant.
  • The merchant will give you Cash for the unused portion of the gift card.
  • You can also convert your gift card to Cash by selling it on a gift card exchange website.

    Buy Items to Resell

    Finally, you can also use your gift card to buy items you can resell for a profit . This is a bit more work than the two methods we have discussed, but it can be a great way to make some extra money. To do this, you'll need to find items with a selling price less than the gift card's value. You can then purchase these items and resell them at a higher price.

    FAQs Does Coinstar Buy Gift Cards?

    No, Coinstar does not buy gift cards . However, you can use Coinstar to exchange your gift card for Cash. Coinstar will provide you with a cash voucher that you can use at a participating retailer. Check with your local Coinstar kiosk for more information.

    Can Vanilla Gift Cards Transfer to the Bank?

    Yes, it is possible to transfer money from a Vanilla Gift Card to a bank account . You can do this by using a service like CardCash or working with the company's customer service team that issued the card. In most cases, a fee will be associated with this transaction.

    What Gift Cards Work with Zelle?

    If you're looking to send or receive money using Zelle, you'll need to make sure you're using a prepaid card issued by one of the“ Zelle Network Banks .” Otherwise, you won't be able to take advantage of this convenient service.

    Some prepaid cards compatible with Zelle include those issued by Bank of America, Chase, Citibank, and Wells Fargo. However, this is not an exhaustive list, so check with your bank or credit card issuer to see if they offer this option.

    Can You Transfer Money From a Gift Card to Debit Card?

    Yes, you can transfer money from a gift card to a debit card. You can do this by linking your gift card to PayPal, Venmo, or Cash App and . While there may be a fee associated with this service, getting your money from a gift card to a more helpful form is generally worth it.

    Conclusion

    So, you've got a gift card burning a hole in your pocket. You're ready to spend it, but you on something dumb. Well, we've got good news: there are plenty of ways to transfer money from a gift card to your bank account without losing out on a single penny.

    We have a step-by-step guide on transferring money from your gift card to your bank account. We hope this was helpful and that you are now able to complete this process without any issues successfully.

    MENAFN03102022005205011743ID1104964379


    Legal Disclaimer:
    MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.