Yes, but the method depends on what your prepaid card issuer allows

You can transfer money from a prepaid Mastercard to a bank account, but not directly through the card itself. Prepaid cards do not have a built-in transfer feature the way a checking account does. Instead, you move the money using one of three routes: a cash withdrawal at an ATM, a balance transfer to a linked bank account (if your card issuer supports it), or a third-party service. Which one works depends on what your card issuer permits and what fees you are willing to pay.

The fastest and cheapest option, if available, is a balance transfer through your card issuer's app or website. Many prepaid card companies—including NetSpend, Chime, and some Mastercard-branded prepaid cards—let you link a bank account and move money directly. This usually takes one to three business days and costs nothing. If your issuer does not offer this, you fall back on ATM withdrawal or a service like PayPal or Square Cash.

Key Takeaways

  • Most prepaid Mastercard issuers let you link a bank account and transfer your balance directly through their app, usually for free and in one to three business days.
  • If your card issuer does not support balance transfers, you can withdraw cash at an ATM and deposit it yourself, though this costs an ATM fee and takes longer.
  • Third-party services like PayPal and Square Cash can move money from a prepaid card to a bank account, but they charge a percentage fee (usually 1 to 3 percent) and may take several days.
  • Check your card issuer's website or app first—the transfer option is usually in settings or account management, not in the main menu.

Balance transfer through your card issuer (fastest and free)

Most prepaid Mastercard issuers built a balance transfer feature into their apps or websites specifically because customers ask for it. Log into your card issuer's app or website, look for "Transfer Funds," "Move Money," or "Linked Accounts" in the settings or account management section, and select the bank account you want to send money to. If you have not linked a bank account yet, you will need your bank's routing number and your account number—both appear on a check or in your bank's app.

The transfer usually posts within one to three business days. Some issuers process transfers the same day if you initiate before a cutoff time (often 5 p.m. Eastern), but do not count on it. There is no fee on your end, though your bank might charge a deposit fee if you are not a customer there—this is rare but possible with smaller banks.

Not all prepaid card issuers offer this. Visa prepaid cards sometimes do, but Mastercard prepaid cards from smaller issuers or store-branded cards (like Walmart MoneyCard) may not. Check your issuer's FAQ or call their customer service number on the back of your card. If they do not support balance transfers, move to the ATM or third-party route.

ATM withdrawal (slower, costs a fee)

If your card issuer does not support balance transfers, you can withdraw cash at an ATM and deposit it into your bank account yourself. This works but costs money and time. Most prepaid card issuers charge $2 to $3 per out-of-network ATM withdrawal (using an ATM that is not part of their network). In-network ATM withdrawals are usually free, so check whether your card issuer has a network—Chime, for example, lets you use Allpoint ATMs for free.

Once you have the cash, you deposit it at your bank's ATM or teller window. Bank ATM deposits usually post the next business day; teller deposits post the same day. The total time is one to two business days, plus whatever time you spend getting to an ATM and your bank.

This method makes sense only if you need the money quickly and your card issuer does not support transfers, or if you are withdrawing a small amount and the ATM fee is acceptable. For larger transfers, the fee adds up—a $500 transfer costs $10 to $15 in ATM fees alone.

Third-party services (PayPal, Square Cash, others)

Services like PayPal, Square Cash, and Google Pay let you add a prepaid Mastercard as a payment method and then transfer the balance to a linked bank account. The process is straightforward: read the app, add your prepaid card, link your bank account, and initiate a transfer. The money usually arrives in one to three business days.

The catch is the fee. PayPal charges 1.75 percent for transfers to a bank account (so $1.75 on a $100 transfer). Square Cash charges 1.5 percent. Google Pay does not charge a fee for transfers to a bank account, but the transfer takes one to three business days. These fees add up on larger amounts—a $1,000 transfer costs $15 to $17.50 in fees alone.

Use this route only if your card issuer does not support balance transfers and you need the money faster than an ATM withdrawal would provide, or if you already use one of these services and the fee is acceptable. For most people, the balance transfer through your card issuer is cheaper and just as fast.

What happens to your prepaid card balance after a transfer

Once you initiate a transfer, the money leaves your prepaid card when ready—you will see the debit in your card balance right away, even though the money has not arrived at your bank yet. This means you cannot spend that money on your prepaid card while the transfer is in progress. If the transfer fails (which is rare), the money returns to your prepaid card within one to three business days.

Some card issuers hold a small amount of your balance and do not let you transfer it—this is usually $1 or less and is a system quirk. If you try to transfer your full balance and it fails, try transferring a slightly smaller amount.

Fees to watch for

Balance transfers through your card issuer are free. ATM withdrawals cost $2 to $3 per transaction if you use an out-of-network ATM. Third-party services charge 1 to 3 percent of the transfer amount. Your bank might charge a deposit fee if you are not a customer, though this is uncommon.

Some prepaid card issuers charge a monthly maintenance fee (usually $5 to $10) just for having the card, but this is separate from transfer fees. If you are transferring your full balance to close the card, check whether your issuer charges a closure fee—most do not, but a few do.

Frequently Asked Questions

How long does a balance transfer take?

One to three business days is standard. Some card issuers process transfers the same day if you initiate before their cutoff time, usually 5 p.m. Eastern. Weekends and holidays do not count as business days, so a transfer initiated on Friday may not arrive until Tuesday.

Can I transfer money to someone else's bank account?

No. Balance transfers through your card issuer go only to a bank account in your name. If you need to send money to someone else, withdraw cash or use a service like PayPal or Venmo, which let you send money to other people.

What if my prepaid card issuer does not have a customer service number on the back?

Check the card issuer's website—the number is usually in the footer or under "Contact Us." If you bought the card at a store (like Walmart or Target), the store's customer service line can sometimes help, but they will likely direct you to the card issuer's number anyway.

Do I need to close my prepaid card after transferring the balance?

No. You can keep the card open and use it again if you reload it with money. If you want to close it, contact your card issuer and ask how—some let you do it through the app, others require a phone call.

Can I transfer money back to my prepaid card from my bank account?

Yes, if your card issuer supports it. This is usually called a reload or transfer in. Check your card issuer's app for a "Reload" or "Add Funds" option. Some issuers charge a fee for reloads (usually $1 to $2), while others offer free reloads if you use direct deposit or a linked bank account.