Are you trying to figure out how to transfer the balance of your Visa gift card to your bank account? Look no further!
In this article, I’ll explore several different methods for transferring your gift card balance to your bank account. From using peer-to-peer payment apps to selling your gift card for cash, there are several options to choose from.
But which method is right for you? Keep reading to find out!
How to transfer a Visa gift card balance to a bank account
1. Venmo
Venmo is a popular peer-to-peer payment app that allows users to send and receive money from friends and family. It’s also a great option for transferring the balance of your Visa gift card to your bank account.
Here’s how to do it:
- Download and open the Venmo app on your phone.
- If you haven’t already, create a Venmo account by entering your email address, phone number, and a password. You’ll also need to add a payment method, such as a debit card or bank account.
- Once you’re logged in to your Venmo account, tap on the “☰” icon in the top left corner of the app to access the menu.
- Select “Settings” from the menu and then tap on “Payment Methods.”
- Tap on “Add Bank or Card” and select “Debit Card” as the payment method.
- Enter the details of your Visa gift card, including the card number, expiration date, and security code.
- Once your gift card is added, you can transfer the balance to your bank account. To do this, tap on “☰” again and select “Transfer to Bank.”
- Enter the amount you want to transfer and select the bank account you want to transfer the funds to. If you haven’t already added a bank account, you’ll need to do this first by selecting “Add Bank or Card” and following the prompts.
- Review the details of the transfer and tap “Transfer” to complete the transaction.
And that’s it! The funds from your Visa gift card should now be on their way to your bank account.
Keep in mind that Venmo charges a 1% fee for instant transfers, so if you’re not in a rush, you can opt for a standard transfer, which is free but may take a few business days to complete.
2. PayPal
Here’s how to transfer the balance of your Visa gift card to your bank account using PayPal:
- Log in to your PayPal account or create a new one if you don’t have one already.
- Once you’re logged in, click on “Wallet” at the top of the page.
- Next, click on “Link a bank account” and follow the prompts to add your bank account information. This will allow you to transfer the funds from your Visa gift card to your bank account.
- After your bank account is linked, click on “Add Money” on the PayPal homepage.
- Select “Add a debit or credit card” and enter the information for your Visa gift card.
- Once your card is added, select it as the funding source and enter the amount you want to transfer to your bank account.
- Click on “Add” to initiate the transfer. The funds should arrive in your bank account within 1-3 business days.
…and with just those few simple steps, the balance of your Visa gift card will be on its way to your bank account.
It’s worth noting that PayPal charges a fee of 2.9% plus $0.30 per transaction for instant transfers, so if you don’t need to transfer your Visa gift card balance to your bank account straight away, perhaps choose a standard transfer, which is free but may take a few business days to complete.
Also, be sure to check with your Visa gift card issuer to make sure they allow transfers to PayPal before attempting this method.
Related: 13 Simple Options to Convert Visa Gift Cards to Cash (Today!)
3. Cash App
Cash App is another peer-to-peer payment app that allows you to send and receive money from friends and family, as well as add funds directly into your bank account.
Here’s how to deposit the balance of your Visa gift card to your bank account using Cash App:
- Download and open the Cash App on your phone.
- If you haven’t already, create a Cash App account by entering your phone number or email address and following the prompts to set up your account.
- Once you’re logged in, tap on the “My Cash” tab at the bottom of the screen.
- Next, select “Cash Out” and choose the bank account you want to transfer the funds to.
- Enter the amount you want to transfer and select “Standard” or “Instant” transfer.
- To fund the transfer with your Visa gift card, select “Add Cash” and enter the gift card details, including the card number, expiration date, and security code.
- Once your gift card is added, you can complete the transfer to your bank account.
- Review the details of the transfer and tap “Cash Out” to complete the transaction.
From there, the funds from your Visa gift card should now be on their way to your bank account.
Like the other options on this list, Cash App charges a 1.5% fee for instant transfers, so a standard transfer will be the cheaper option. It’s free but may take a few business days to complete.
And as always, be sure to check with your Visa gift card issuer to make sure they allow transfers to Cash App before going ahead with this.
4. Prepaid2Cash
Prepaid2Cash is a website and app that allows you to convert the balance of your Visa gift card into cash, which can then be deposited directly into your bank account. Here’s how to add the balance of your Visa gift card to your bank account using Prepaid2Cash:
- Visit the Prepaid2Cash website or download the app on your phone.
- Once you’re logged in, select “Convert Card Balance” and enter the details of your Visa gift card, including the card number, expiration date, and security code.
- Next, select the bank account you want to transfer the funds to and enter the amount you want to transfer.
- Review the details of the transaction and submit the request.
- Prepaid2Cash will send you a shipping label to mail your Visa gift card to them. Once they receive your card, they will verify the balance and transfer the funds to your bank account within 1-2 business days.
With that, the balance of your Visa gift card will be converted into cash and deposited directly into your bank account.
Prepaid2Cash charges a fee of 5% for this service, so it’s not the cheapest option on this list, but it may be worth it if you prefer the convenience of having the funds deposited directly into your bank account or if your Visa gift card issuer won’t allow transfers with the other options.
5. Moneygram
MoneyGram is a global money transfer service that allows you to send and receive funds to and from nearly anywhere in the world.
Here’s how to transfer the balance of your Visa gift card to your bank account using MoneyGram:
- Find a MoneyGram location near you by visiting their website or using their app.
- Bring your Visa gift card and a valid government-issued ID to the MoneyGram location.
- Tell the MoneyGram agent that you want to transfer the balance of your Visa gift card to your bank account.
- Provide the agent with your bank account information, including the bank name, routing number, and account number.
- The MoneyGram agent will process the transfer and provide you with a reference number.
- Within 1-2 business days, the funds from your Visa gift card should be put into your bank account.
And just like that, Moneygram will transfer your Visa gift card to your bank account using MoneyGram.
As you can probably guess by now, MoneyGram charges a fee for their services, so be sure to check the fees and exchange rates before initiating the transfer. You should also check with your Visa gift card issuer to make sure they allow transfers to MoneyGram before committing to this option.
6. Sell the gift card for cash
Selling your Visa gift card is another option for transferring the balance to your bank account. Here’s how to do it:
- Determine the value of your Visa gift card. You can usually find this information on the card itself or by contacting the issuer.
- Decide where to sell your Visa gift card. There are many websites and marketplaces that allow you to sell your gift card for cash, such as Cardpool, Raise, and Gift Card Granny. You can also sell your gift card in person at certain retailers, such as Walmart or at certain Coinstar gift card exchange kiosks.
- Create an account on the website or marketplace where you plan to sell your gift card. This will usually require providing some personal information and verifying your identity.
- Enter the details of your Visa gift card, including the card number, expiration date, and security code.
- Set the selling price for your gift card. Keep in mind that the resale value of your gift card may be less than its face value, as the buyer is looking to make a profit.
- Once you find a buyer, you will usually be required to mail the physical gift card to them. Be sure to use a secure and trackable shipping method.
- After the buyer receives the gift card and verifies the balance, they will send you payment for the agreed-upon amount.
- Deposit the payment into your bank account.
That’s it! By selling your Visa gift card, you’ve effectively transferred the balance to your bank account.
Selling your gift card may come with fees or restrictions, so be sure to read the terms and conditions before proceeding. Additionally, if you’re selling your gift card in person, be sure to check the hours and availability of the retailer before making a special trip.
You may also be interested in: Gift Card Exchange Kiosks: How to Get Quick Cash (Today!)
7. Buy a gift card that allows cash withdrawals
One option to transfer a Visa gift card to a bank account is to purchase a prepaid card, such as a prepaid debit card or a reloadable prepaid card, that allows you to withdraw cash from an ATM and then deposit it into your bank account.
To do this, you would need to:
- Find a prepaid card that allows cash withdrawals. Some popular options include Bluebird by American Express, Green Dot Prepaid Visa, and NetSpend Prepaid Mastercard.
- Purchase the prepaid card with your Visa gift card. Be sure to check the fees and restrictions associated with the prepaid card before making your purchase.
- Activate the prepaid card and set up a PIN number for ATM withdrawals.
- Use the prepaid card to withdraw cash from an ATM.
- Deposit the cash into your bank account.
While it’s a bit of a roundabout way to do it, by purchasing a prepaid card that allows cash withdrawals, you’ve effectively transferred the balance of your Visa gift card to your bank account.
Like your Visa gift card, your using the prepaid card may have certain fees attached to it, such as ATM fees or monthly maintenance fees, so be sure to read the terms and conditions before making your purchase.
Additionally, some prepaid cards may have limits on the amount of cash you can withdraw from an ATM, so be sure to check the limits before attempting to withdraw your money.
8. Purchase an item you can resell for cash
Another option to transfer money from a gift card to a bank account is to purchase an item with your Visa gift card that you can resell for cash, such as an electronic device or a piece of jewelry. Once you’ve sold the item, you can deposit the cash into your bank account.
However, there are a few things to keep in mind:
- The resale value of the item may be less than the face value of your Visa gift card, so you may not recoup the full amount of the card.
- You will need to find a buyer for the item, which may take time and effort.
- You will need to factor in any fees associated with selling the item, such as shipping fees or listing fees on online marketplaces.
Overall, while it is possible to transfer the balance of your Visa gift card to your bank account by reselling an item, it may not be the most convenient or efficient method.
In particular, some of the other options on this list, such as using a peer-to-peer payment app or selling the gift card directly, may be more straightforward and require less effort.
Either way, it’s always a good idea to research your options to figure out the best one for you.
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9. Money order
Yet another option for transferring the balance of your Visa gift card to your bank account is to use a money order. Here’s how it works:
- Purchase a money order with your Visa gift card. You can typically purchase a money order at a post office, bank, or grocery store.
- Fill out the money order with your bank account information, including the bank name, routing number, and account number.
- Mail the money order to your bank’s address or deposit it at a branch location.
- The funds from the money order should be deposited into your bank account within a few business days.
There are often fees associated with purchasing a money order, so be sure to read the terms and conditions before making your purchase.
You will also need to ensure that you have the correct bank account information on the money order to avoid any delays or issues with the deposit.
That said, these aren’t difficult hurdles to get over and so, overall, using a money order can be a straightforward and reliable method for transferring the balance of your Visa gift card to your bank account.
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10. Mobile wallet
Another option for transferring the balance of your Visa gift card to your bank account is to use a mobile wallet, such as Apple Pay or Google Wallet. Here’s how it works:
- Add your Visa gift card to your mobile wallet. To do this, open the mobile wallet app on your phone, select “Add Payment Method,” and enter the details of your Visa gift card, including the card number, expiration date, and security code.
- Link your mobile wallet to your bank account. To do this, select “Add Bank Account” in the mobile wallet app and follow the prompts to enter your bank account information.
- Use your mobile wallet to make a payment. This could be a payment for goods or services, or you could send the payment to yourself.
- Once the payment is received, the funds will be deposited into your mobile wallet.
- Transfer the funds from your mobile wallet to your bank account. To do this, select “Transfer to Bank” in the mobile wallet app and follow the prompts to transfer the funds to your linked bank account.
This won’t work for every Visa gift card but if it accepts yours, it’s a super simple way to get a gift card into a bank account.
Can you transfer a Visa gift card to Venmo?
Venmo is a popular peer-to-peer payment app that allows you to send and receive money from friends and family. But can you transfer the balance of your Visa gift card to Venmo? The answer is: it depends.
Some Visa gift cards may be compatible with Venmo, while others may not. It’s always a good idea to check with the issuer of your gift card to see if transfers to Venmo are allowed.
Additionally, even if your gift card is compatible with Venmo, the transfer process does take a few steps. Luckily, I’ve set them out for you earlier in this article – just scroll up a bit and there you’ll find step by step instructions on how to do this!
That said, if you’re hoping to transfer the balance of your Visa gift card to Venmo, it’s important to do your research and make sure you fully understand the process before attempting it. There may be fees or restrictions associated with transferring gift card balances to Venmo, and it’s always a good idea to read the terms and conditions carefully.
Can you transfer a Visa gift card to Cash App?
Yes, you can transfer the balance of your Visa gift card to Cash App. Cash App allows you to add a debit card or credit card to your account, which means that you can add your Visa gift card as well.
If you haven’t heard of Cash App, it’s another popular peer-to-peer payment app that allows you to send and receive money from friends and family. While it’s very widely used these days, there are a few things to keep in
First, make sure that your Visa gift card has enough funds to cover the transfer. Additionally, be aware that Cash App charges a fee for instant transfers, so you may want to opt for a standard transfer to avoid any fees.
Finally, while it is possible to transfer the balance of your Visa gift card to Cash App, the process may not be straightforward. It’s always a good idea to check with the issuer of your gift card to see if transfers to Cash App are allowed, and to read the terms and conditions of Cash App carefully before attempting a transfer.
Overall, while there may be some hoops to jump through, it is possible to transfer the balance of your Visa gift card to Cash App. If you’re interested in using Cash App as a way to transfer your gift card balance to your bank account, be sure to do your research and read the fine print carefully.
Can I transfer my Visa gift card to PayPal?
Yes, PayPal does allow you to add a debit card or credit card to your account, which means that you can add your Visa gift card as well. From there, it’s very easy to transfer the balance of your Visa gift card to PayPal.
That said, before going ahead with this, make sure that your Visa gift card has enough funds to cover the transfer. Additionally, be aware that PayPal charges a fee for instant transfers, so you may want to opt for a standard transfer to avoid any fees.
Furthermore, it’s always a good idea to check with the issuer of your gift card to see if transfers to PayPal are allowed, as some gift card issuers may have restrictions on transferring gift card balances to online payment systems.
Overall, while it is possible to transfer the balance of your Visa gift card to PayPal, the process may not be straightforward. Be sure to read the terms and conditions of PayPal carefully before attempting a transfer, and keep in mind any fees or restrictions that may apply.
With a little research and careful planning, you should be able to transfer the balance of your gift card to PayPal and access your funds in no time!
How to transfer money from a Visa gift card to a bank account online?
There are several online options for transferring the balance of your Visa gift card to your bank account. Here are a few popular options:
- Venmo: Venmo is a peer-to-peer payment app that allows you to send and receive money from friends and family. Some Visa gift cards may be compatible with Venmo, allowing you to transfer the balance of your gift card to your bank account.
- PayPal: PayPal is an online payment system that allows you to send and receive money from individuals and businesses. You can add your Visa gift card as a debit card or credit card to your PayPal account, allowing you to transfer the balance of your gift card to your bank account.
- Cash App: Cash App is another peer-to-peer payment app that allows you to send and receive money from friends and family. You can add your Visa gift card to your Cash App account and transfer the balance to your bank account.
- Prepaid2Cash: Prepaid2Cash is a website that allows you to convert your Visa gift card to cash and transfer the funds directly to your bank account. Simply enter the details of your gift card on the website, and Prepaid2Cash will offer you a cash value for your gift card.
- MoneyGram: MoneyGram is a money transfer service that allows you to send and receive money from individuals and businesses. You can use MoneyGram to transfer the balance of your Visa gift card to your bank account.
- Cardpool: Cardpool is a website that allows you to sell your gift cards for cash. Simply enter the details of your gift card on the website, and Cardpool will offer you a cash value for your gift card. You can then choose to receive payment via check or direct deposit to your bank account.
- Raise: Raise is another website that allows you to sell your gift cards for cash. You can list your gift card on the website and set your own price, or you can accept an offer from a buyer. Once your gift card is sold, you can choose to receive payment via check or direct deposit to your bank account.
- Gift Card Granny: Gift Card Granny is a website that allows you to sell your gift cards for cash or exchange them for other gift cards. Simply enter the details of your gift card on the website, and Gift Card Granny will offer you a cash value for your gift card. You can then choose to receive payment via check or direct deposit to your bank account.
As you can see, there are several online options for transferring the balance of your Visa gift card to your bank account. This includes the fact that selling your Visa gift card to a reputable website can be a convenient and straightforward way to transfer the balance to your bank account.
Whichever way you choose to go, check the terms and conditions and be aware of any fees that may apply, so you can get as much of the balance of your Visa gift card in your bank account as possible.