How To Transfer Visa Gift Card Balance to Bank Account

How To Transfer Visa Gift Card Balance to Bank Account

Visa gift cards are an excellent way to purchase gifts for yourself and your family. 

But, if you are here, we are assuming you are looking to convert visa gift card balance into cash? 

We’ve all been there. There are multiple ways to use the visa gift card balance, if you are not looking to buy yourself or someone else a gift. 

If you’ve earned yourself a visa gift card (through a Focus Group or another way), this article will present you with several ways you can turn gift card balance into cash. 

How To Cash In a Gift Card? 

One of the fastest (and easiest) ways to do this is online by selling it on one of the few very well known platforms. 

We have tried and tested two platforms: 

  • Gift Card Granny
  • Gift Cash

Both of these are very legitimate platforms. They work by giving you an offer in cash for your gift card. The offer will depend on your gift card balance and merchant. 

If you accept the offer, they will process your payment and send you cash. 

Obviously, you are going to lose a little bit of money doing it this way; none of these platforms will offer the full amount for your visa gift card. 

However, this is definitely the fastest way to do it, so if that’s your priority, make sure you consider the platforms we mentioned above. 

Can You Transfer Money From Visa Gift Card To Bank Account? 

We have not found a legitimate way to transfer money from a visa gift card directly to a bank account. 

However, Paypal gives you an option of adding prepaid cards, and through them, you can load your Visa gift card. 

Then, you can transfer the money from Paypal to your bank account. 

It’s an extra bit of hassle, and it will require you to register on Paypal (if you already don’t have an account there), but you’ll be able to get your full amount that you can use for something else. 

Can You Transfer Money From Visa Gift Cards to Paypal? 

Yes, as mentioned above, Paypal allows you to add gift and prepaid cards, and use them for spending or anything else you want.

How To Transfer Gift Card Balance To Cash? 

We’ve found the following 5 effective and fast ways to transfer gift card balance to cash. All of these are tested and proven to work effectively, so make sure you give them a try. 

Pay Your Bills With a Visa Gift Card

This method is not necessarily turning gift card balance into cash directly, but it is very close to it. We all have to pay our bills, and since we use cash or credit cards to do it, this is an alternative well worth considering. 

Most people do not take advantage of these opportunities, but paying your bills with a visa gift card is entirely possible. 

We are all taught to pay our bills first; and then use the rest of the money to cover all of our other needs. 

But if you use cash to pay your bills first, you might be left with unused gift cards with significant balances on them. 

That’s why having and using visa gift cards to pay bills is a great way to get balance off them, and have more cash left for other monthly expenses. 

One downside to this method is that gift cards, as well as credit cards, incur transaction fees. You are standing to lose some of the balance on your gift card on transaction fees. 

It is still, however, a great hack to get the money off your gift card and use it for something you must pay anyway. 

Add a Gift Card To Venmo Account

Earlier in this guide we have mentioned that Paypal might be one of the best ways of getting the balance off a gift card to another platform. 

Venmo is another company owned by Paypal, so this is an option that’s within your reach as well. 

Since they are quite the same, you might be wondering what is the reason we are listing it in our guide? 

Some people don’t have Paypal and only have Venmo. So to avoid creating an additional payment processor account, you can use Venmo, if that’s a platform you already use. 

Also, Venmo doesn’t have any transaction fees, unlike Paypal. Getting money off a Visa gift card in that case is absolutely free. 

However, the process does take a few days to complete, so if you are desperate for money today, you can use the instant transfer via Venmo for a small added transaction fee. 

Raise App

Raise App is another platform used for buying and selling Visa and other gift and prepaid cards. We haven’t mentioned it earlier, since they take a significant 15% commission for their services. 

However, they are a legitimate platform that will allow you to sell all of your gift cards. So if you have some other gift cards aside from Visa, this is the place to go. 

On this app, you can also purchase gift cards from other people, and you have a nice coupon section that will help you find the latest deals in your favorite stores. 

Raise App works with Paypal, and other banking systems, so you can either cash out to Paypal/Venmo or do a direct deposit to your bank account. 

Sell It To Another Person Online

Another great way to get the cash out of your visa gift card is to sell it to another person online. It’s quite similar to using a platform like Raise; but you are cutting out the middleman and their hefty fee. 

The obvious downside of this method is that you would have to know the person who would like to buy a Visa gift card. 

There’s an option of joining various Facebook Groups that are created for the purpose of buying and selling gift cards. 

Be cautious, however, since you will need to get the trust established before doing an exchange. 

There are a lot of scammers looking to take advantage of people here, so try and only do business with members who are trusted and have a good history. 

Facebook Marketplace

A safer and more legit way of using Facebook to sell your Visa gift card is by using Facebook Marketplace. 

In this particular case, you do not stand to get scammed since you will be protected by Facebook. 

There are still bad buyers and sellers who are a pain in the ass to work with. However, that is always reflected in their rating. 

People will leave both good and bad reviews often, so you can easily gauge who you can deal with. 

When putting your gift cards for sale, make sure you state the correct balance and put high quality images to attract more buyers. 

What Is The Fastest Way To Get Money Off a Visa Gift Card? 

People often wonder what is the fastest way to get money off a visa gift card, and it’s hard to pinpoint one. 

Selling on one of the more popular platforms or using Paypal/Venmo seems to be the quickest way. However, you still stand to lose some money on commissions, so keep that in mind. 

Can You Use a Gift Card On an ATM? 

The short answer is, NO, you can’t use a Visa gift card on an ATM. This is not only the case with Visa gift cards, but all gift cards in general. 

They are coded to be used in stores, and restaurants, so there’s no way you’d be able to get the balance off it using an ATM. 

How To Turn a Vanilla Visa Gift Card Into Cash? 

Vanilla Visa Gift card is a prepaid card that you can purchase in amounts from $10 to $500. 

This card is perfect as a gift for people when you are not sure what to buy them for a special occasion. 

If you are wondering if there’s a difference between a Vanilla Visa Gift card or any other Visa gift card, there isn’t. 

You can use any of the methods mentioned above to get the money off a gift card and into your hands. 

Better Ways To Get The Money

Instead of focusing on getting the balance of a gift card, maybe you should consider methods that will make you more money, and be worthwhile in your efforts. 

Nowadays, there are so many ways to make money online, like different apps for odd jobs that pay extremely well to finding transcription jobs you can do without any prior experience. 

All of these will make you significantly more money, and you won’t have to worry about getting a small balance off of gift cards. 

Additional Ways To Earn More Free Gift Cards

However, if you find gift cards to be a decent source of side income, maybe you should consider more ways to obtain them. 

There are dozens of platforms like Swagbucks, Ibotta or InboxDollars where you can complete small tasks and surveys, and get cash or gift cards in exchange. 

We have covered some of the best platforms in this area in our article: ‘How To Earn Paypal Money Instantly’. 

Make sure you give that one a read.