You cannot deposit a gift card directly into a 53 checking account
A gift card is not money — it is a promise from a store or company to let you buy things from them. Your bank cannot accept it as a deposit because the bank has no way to turn it into cash on its own. You have to spend the gift card at the place that issued it first, then deposit the money you would have spent from your own pocket instead.
The one exception is a Visa or Mastercard gift card that works like a debit card everywhere those cards are accepted. Even then, you are not depositing the card itself — you are using it to pay for things or to move money into your account through a transfer or ATM withdrawal.
Key Takeaways
- Store gift cards (Target, Amazon, Starbucks) cannot be deposited into any bank account because they only work at that specific store.
- Visa and Mastercard gift cards can be used to transfer money into your 53 account through a bill pay feature or by withdrawing cash at an ATM and depositing it.
- The fastest way to get gift card money into your account is to spend it on something you would buy anyway, then deposit the cash you save.
- Some gift cards let you check your balance online, which helps you plan how much to spend before the card expires.
What happens when you try to deposit a store gift card
If you walk into a 53 branch or try to deposit through mobile banking with a store gift card, the teller or app will reject it. Banks only accept items that represent actual money — checks, cash, or transfers from other accounts. A Target gift card is a contract between you and Target, not between you and 53.
The same rule applies to restaurant gift cards, movie theater cards, or any card that only works at one business. Your bank has no way to convert that into dollars because the store is the only place that can do that conversion.
How to use a Visa or Mastercard gift card with your 53 account
A Visa or Mastercard gift card works differently because Visa and Mastercard are payment networks that thousands of businesses accept. You can use these cards almost anywhere a regular debit card works. To move money from a Visa or Mastercard gift card into your 53 checking account, you have a few routes.
The first route is to use the gift card to pay a bill through 53's bill pay system. Log into your 53 account, set up the gift card as a payment method, and pay yourself or transfer money to your account if that option is available. Not all banks allow this, so check with 53 directly about whether they accept gift cards as a payment source.
The second route is to withdraw cash from an ATM using the gift card, then deposit that cash into your 53 account at a branch, ATM, or through mobile deposit. This works with any Visa or Mastercard gift card that has a PIN. You will need to know the PIN or set one up through the card issuer's website before you can withdraw.
The third route is to use the gift card to buy something you need, then use the money you would have spent from your own pocket to make a deposit instead. This is the simplest method if you were planning to buy something anyway.
Checking your gift card balance before you spend it
Most gift cards have a website or phone number where you can check how much money is left on them. Store gift cards usually have this information on the back or on the store's website. Visa and Mastercard gift cards typically have a customer service number printed on the front.
Knowing your balance before you try to use the card prevents the embarrassment of the card being declined at checkout. It also helps you plan whether you have enough to buy what you want, or whether you need to add your own money to the purchase.
What to do if your gift card is about to expire
Store gift cards do not legally expire in most states, but some companies make them hard to use after a certain date or charge fees if they sit unused. Check the terms on the card or the company's website to see if there is an expiration date or inactivity fee.
If you have a gift card you are not going to use, some stores let you transfer the balance to another card or sell the remaining balance to a gift card reseller. Websites like Raise or CardCash buy unused gift cards for a percentage of their value. This is not the same as depositing into your bank account, but it converts the card into cash you can then deposit.
Why banks do not accept store gift cards as deposits
A bank's job is to hold and move money. A store gift card is not money — it is a liability for the store. If 53 accepted a Target gift card as a deposit, the bank would have to figure out how to turn it into actual dollars, which only Target can do. That would make the bank responsible for managing thousands of different store relationships and converting each one.
This is why banks only accept deposits that are already in a form they can move: cash, checks, or transfers from other financial institutions. Everything else has to be converted to one of those forms first.
Frequently Asked Questions
Can I deposit an Amazon gift card into my 53 account?
No. Amazon gift cards only work on Amazon's website and app. You would need to spend the card on Amazon purchases first, then deposit cash or transfer money from another source into your 53 account. If your Amazon gift card is a Visa or Mastercard branded card, you can withdraw cash from an ATM and deposit that instead.
What if my gift card is a Visa but I do not know the PIN?
Contact the card issuer using the number on the back of the card or their website. They can help you set up a PIN or reset one you forgot. Once you have the PIN, you can withdraw cash at any ATM that accepts Visa.
Can I transfer money from a gift card to my 53 account online?
It depends on the gift card and 53's policies. Visa and Mastercard gift cards sometimes work as a payment method in bill pay systems, but not all banks allow this. Contact 53 directly to ask whether they accept gift cards as a payment source for transfers.
Do I lose money if I use a gift card to withdraw cash from an ATM?
You might be charged an ATM fee by the ATM operator, just like you would with a regular debit card. The fee varies by location and ATM network. Using an ATM owned by the gift card issuer (if they have one) usually avoids the fee.
What happens to money left on a gift card after I use part of it?
The remaining balance stays on the card until you use it or the card expires. You can check your balance anytime through the issuer's website or phone line. Some cards charge inactivity fees after a long period of no use, so check the terms.