The direct answer: most gift cards cannot transfer to a bank account
You cannot move money from a gift card directly into a bank account the way you would transfer between two bank accounts. Gift cards are closed-loop systems—the money lives on the card itself and is designed to be spent at specific retailers or networks. The card issuer does not have a mechanism to push that balance into an external bank account.
What you can do instead is convert the gift card balance into usable money through a few specific routes: spend it at the retailer or network it belongs to, sell it to a third party, load it onto a reloadable prepaid card linked to your bank, or in some cases use a cash advance service. Each route has different costs, timing, and restrictions.
Key Takeaways
- Gift card balances cannot transfer directly to a bank account because they are stored value, not bank transfers.
- Selling the card to a reseller like CardCash or Raise typically nets 70 to 90 percent of the card's face value, with payment to your bank account in 1 to 5 business days.
- Cash advance services charge a fee (usually 5 to 15 percent) to withdraw the balance as cash, which you can then deposit yourself.
- Loading the balance onto a reloadable prepaid card works only if that card is linked to your bank and allows transfers out, which most do not.
- Spending the card at the retailer or network it belongs to is free but requires you to use the balance where it was issued.
Selling the gift card to a reseller
Gift card resale marketplaces buy unused cards at a discount and resell them. When you sell, the marketplace pays you—usually to your bank account via ACH transfer or PayPal. The amount you receive depends on demand for that card and how much balance remains on it.
Major resellers include CardCash, Raise, and Decluttr. You photograph or enter the card number and PIN, the reseller verifies the balance, and if they accept it, you receive an offer. Offers typically range from 70 to 95 percent of face value, though cards for less popular retailers or with small balances may be offered lower. Once you accept, the reseller sends payment to your chosen account within 1 to 5 business days.
The trade-off is the discount you take—a $100 card might net you $75 to $90. But if you have no use for the card, this converts it to spendable money without fees beyond the discount itself. Some resellers also charge a small processing fee (typically $0.50 to $1) when you cash out.
Using a cash advance or ATM service
Some gift cards, particularly Visa or Mastercard branded ones, can be used at ATMs or through cash advance services to withdraw money. This is not the same as a bank transfer—you are withdrawing cash, which you then deposit into your bank account yourself.
Visa and Mastercard gift cards often allow ATM withdrawals, though the card issuer charges a fee per withdrawal (usually $2 to $5). American Express gift cards typically do not allow ATM access. You insert the card at an ATM, enter your PIN, and withdraw cash up to your available balance. The fee is deducted from the card balance.
This route works if you have a physical ATM nearby and do not mind paying the withdrawal fee. The cash arrives in your hands when ready, but you then need to deposit it into your bank account yourself—a step that takes time and requires you to visit a branch or use mobile deposit.
Loading onto a reloadable prepaid card
Some reloadable prepaid cards allow you to load a gift card balance onto them. This does not move the money to your bank account, but it consolidates multiple cards into one account that may offer better features or lower fees.
The process varies by card. Some prepaid cards have a feature that lets you transfer a gift card balance during signup or through their app. However, most reloadable prepaid cards do not allow you to transfer the balance back out to a bank account—they are designed to hold and spend money, not to move it elsewhere. Before choosing this route, confirm with the prepaid card issuer that you can later transfer the balance to your actual bank account if you need to.
Spending the card at the issuing retailer or network
The simplest route, if it fits your needs, is to spend the card where it was issued. A Target gift card works at Target, a Visa gift card works anywhere Visa is accepted, and so on. No fees, no discount, no waiting—you just use the balance.
This is free and when ready, but it requires you to actually spend the money at that retailer or network. If you have no use for the card's issuer, this is not a practical option. If you do shop there regularly, it is the most straightforward way to use the balance.
Why direct bank transfer is not possible
Gift cards are not linked to a bank account or payment network in the way that debit cards are. The card issuer holds the balance in a separate system and only allows you to spend it through their network or at their partner merchants. There is no account number, routing number, or connection to the banking system that would allow a transfer out.
This is by design—gift cards are meant to be spent, not converted to cash or moved elsewhere. The issuer benefits from cards that go unspent (called breakage) and from keeping the money in their system. Some states have laws requiring gift card issuers to honor the balance or allow cash-out after a certain period, but these vary widely and do not create a standard transfer mechanism.
Comparing your options
| Route | Time to money in bank | Cost or loss | Best for |
|---|---|---|---|
| Sell to reseller (CardCash, Raise) | 1 to 5 business days | 10 to 30 percent discount | Cards you will not use, wanting cash quickly |
| ATM withdrawal + deposit | Same day (if you deposit when ready) | $2 to $5 per withdrawal | Visa/Mastercard gift cards, having an ATM nearby |
| Spend at issuer | when ready | None | Cards for retailers you shop at regularly |
| Load onto prepaid card | Varies (usually 1 to 3 days) | Depends on prepaid card fees | Consolidating multiple cards, if transfer-out is allowed |
Frequently Asked Questions
Can I transfer a Visa gift card to my bank account?
Not directly. You can withdraw cash at an ATM (if the card allows it) and deposit that cash, or sell the card to a reseller. Visa gift cards typically allow ATM withdrawals for a $2 to $5 fee per transaction.
What if the gift card has a small balance left on it?
Resellers may offer a lower percentage of face value for small balances, or decline to buy them altogether. Spending the remaining balance at the issuer is often the most practical option for cards under $10.
Do I have to pay taxes on money from selling a gift card?
No. Selling a gift card is not taxable income—you are converting an asset you already own into cash. The original giver may have paid tax on the purchase, but you do not owe tax on the sale.
How long does it take to get paid by a gift card reseller?
Most resellers send payment within 1 to 5 business days after you accept their offer and they verify the card balance. Some offer faster payment for a slightly lower payout percentage.
Can I use a gift card to pay off a credit card balance?
Not directly—credit card companies do not accept gift cards as payment. You would need to convert the gift card to cash or a bank transfer first, then use that money to pay the credit card bill.