What you can actually do with a gift card balance
Most gift cards cannot transfer their balance directly to a bank account. The money on a gift card is locked into that card's system — you cannot call the card issuer and ask them to send the balance to your checking account. What you can do instead depends on the type of card and the retailer behind it.
Some retailers let you convert a gift card balance into a store credit account that links to a payment method. Others let you use the card to buy a prepaid debit card, which then functions like a bank account. A few will let you request a refund to your original payment method if you paid for the card with a debit or credit card. The fastest and most reliable option is usually to spend the balance at the retailer or transfer it to someone else who will.
Key Takeaways
- Direct transfers from gift cards to bank accounts are not possible with most retailers, because gift card funds are stored in the retailer's system, not in the banking system.
- Some retailers will refund a gift card balance to the original payment method if you paid for the card yourself with a debit or credit card.
- You can sometimes convert a gift card balance into a prepaid debit card or digital wallet, which can then be used like a bank account.
- Selling a gift card through a resale platform or giving it to someone else are the most straightforward ways to convert it to usable funds.
- Retailer policies vary widely, so contact the gift card issuer directly to learn what options are available for your specific card.
Refunds to your original payment method
If you purchased the gift card yourself using a debit card or credit card, some retailers will refund the remaining balance back to that same card. This is the closest you can get to moving money into a bank account, because the refund goes to your bank, not to a separate account.
To request this, contact the retailer's customer service with your gift card number and the original receipt or proof of purchase. They will verify that you bought the card and may ask why you want a refund. Some retailers have a minimum balance requirement — they might only refund balances above $5 or $10. Processing times vary; some refunds appear within a few business days, while others take two to three weeks.
This option does not work if someone else gave you the gift card, because the retailer will not refund money to a card you do not own. It also does not work if the original card you used to buy the gift card has been closed or replaced.
Converting a gift card to a prepaid debit card
Some retailers, particularly large chains, let you load a gift card balance onto a prepaid debit card. This card then works like a bank debit card — you can withdraw cash at ATMs, use it online, or transfer money to a bank account through the card's app or website.
Amazon, Target, and Walmart all offer this option through their own prepaid card products. You typically load the gift card balance into the prepaid card account through the retailer's website or app, then use the prepaid card as you would a regular debit card. Some prepaid cards charge monthly fees or ATM fees, so check the fee schedule before you load money onto one.
Once the balance is on a prepaid debit card, you can transfer it to a bank account by linking the prepaid card to your bank through an ACH transfer, or by withdrawing cash at an ATM and depositing it. This takes an extra step compared to a direct refund, but it works even if you did not buy the gift card yourself.
Using digital wallets and store accounts
Many retailers now let you add a gift card balance to a digital wallet or online store account. Apple Pay, Google Pay, and PayPal all accept gift card numbers. Once the balance is in your digital wallet, you can sometimes transfer it to a linked bank account, though this depends on the wallet's rules.
PayPal, for example, lets you add a gift card balance and then transfer money from your PayPal account to your bank account. Apple Pay and Google Pay are primarily designed for spending rather than storing or transferring money, so they are less useful for moving a gift card balance to a bank.
Check the specific wallet's terms before you add a gift card. Some wallets treat gift card balances as store credit that cannot be transferred out, while others treat them as regular funds that can move freely.
Selling or trading a gift card
If the retailer offers no refund or transfer option, you can sell the gift card through a resale platform. Websites like Raise, CardCash, and Decluttr buy unused gift cards at a discount — typically 70 to 90 percent of the card's face value — and pay you through PayPal, bank transfer, or check.
The process is straightforward: you enter the gift card details on the platform, they verify the balance, and they send you payment once the card is confirmed. Payment usually arrives within a few business days. The tradeoff is that you lose 10 to 30 percent of the balance, but you get the money in a form you can move to a bank account when ready.
Be cautious about platforms that ask you to pay a fee upfront or that may provide prices that seem too high. Legitimate resale sites do not charge you to sell a card, and they do not pay more than 90 percent of face value.
What does not work
You cannot transfer a gift card balance to a bank account by calling your bank and asking them to pull the money. Banks do not have access to gift card systems, and gift card issuers do not have access to banking systems. The two operate separately.
You also cannot use a gift card to fund a bank account directly through a mobile app or website. Some banking apps let you deposit checks by photograph, but they do not accept gift card numbers as a deposit method.
Peer-to-peer payment apps like Venmo and Cash App do not accept gift card numbers either. If you want to send money to someone else, you would need to first convert the gift card to cash or a prepaid card, then transfer that.
How to find out what your specific card offers
The fastest way to learn your options is to contact the retailer or card issuer directly. Look for a customer service number on the back of the gift card or on the retailer's website. Tell them you want to know whether you can request a refund, load the balance onto a prepaid card, or link it to a digital wallet.
If you no longer have the physical card, you can usually look up the balance and contact information on the retailer's website by entering the card number. Many retailers now offer this through their mobile app as well.
Keep in mind that policies change. A retailer that did not offer refunds two years ago may offer them now, so it is worth asking even if you have tried before.
Frequently Asked Questions
Can I use a gift card to open a bank account?
No, banks do not accept gift cards as an initial deposit. You would need to convert the gift card balance to cash or a prepaid debit card first, then deposit that into a new bank account. Some banks let you open an account online with a small deposit, so you could withdraw cash from the gift card and deposit it that way.
What if the gift card has a very small balance left?
Many retailers will not process a refund for balances under $5 or $10. In that case, your best option is to spend the remaining balance at the retailer, give the card to someone else, or sell it through a resale platform — though the platform may also have a minimum balance requirement.
Can I transfer a gift card balance to someone else's bank account?
Not directly. You would need to either give them the gift card itself, sell it and send them the proceeds, or convert it to cash and transfer that. Some retailers let you email a digital gift card, but that creates a new card rather than transferring an existing balance.
Do I need the original receipt to get a refund?
Most retailers ask for either the original receipt or proof that you purchased the card, such as a credit card statement showing the purchase. If you cannot provide proof, they may not refund the balance. Keep receipts for gift cards you buy yourself.
How long does it take to transfer a gift card balance?
Refunds typically take two to five business days. Prepaid card transfers may be when ready or take up to a day. Resale platforms usually process payment within three to five business days after the card is confirmed. Bank transfers from a prepaid card can take one to three business days depending on your bank.