The Direct Transfer Method (When It Works)

Most gift cards cannot transfer money directly to a bank account. The card itself holds a balance that you can only spend at the retailer or their partners. However, some cards—particularly Visa, Mastercard, and American Express gift cards—do allow you to link them to your bank account through their issuer's app or website, then move the remaining balance to a connected debit account.

The process varies by card type. Visa and Mastercard gift cards sometimes let you transfer funds through their official apps if the card was issued by their company (not a retailer). American Express gift cards have their own portal where you can request a transfer. Check the back of your card or the issuer's website for a customer service number—they can tell you in minutes whether your specific card supports transfers.

If your card does support transfers, the money typically lands in your bank account within 3 to 5 business days. Some issuers charge a small fee (usually $1 to $3) for the transfer, though many waive it if you meet certain conditions.

Key Takeaways

  • Most retail gift cards (Target, Amazon, Starbucks) cannot transfer money to a bank account—you can only spend the balance at that retailer.
  • Visa, Mastercard, and American Express gift cards may allow transfers through their issuer's app or website, but you must contact the issuer to confirm your card supports it.
  • If a transfer is available, the money reaches your bank account in 3 to 5 business days, and some issuers charge $1 to $3 for the service.
  • Selling the gift card through a resale platform is the most reliable workaround for retail cards, though you typically receive 70 to 90 percent of the card's face value.
  • Using the card to buy something you would purchase anyway, then returning it for a refund to your bank account, works only if the retailer refunds to the original payment method.

Selling the Gift Card on a Resale Platform

If your card does not support direct transfers, selling it is the most straightforward option. Platforms like Raise, CardCash, and Decluttr buy unused gift cards and pay you through bank transfer, PayPal, or check. You list the card, set a price (usually 70 to 90 percent of face value), and once a buyer purchases it, you receive the funds.

The process takes 1 to 3 days from sale to payment, though some platforms hold funds briefly while they verify the card works. You will need to provide the card number and PIN, so only use platforms with established track records and buyer protection policies. Read the reviews on each platform before listing—some have faster payouts than others, and some charge small seller fees.

The trade-off is that you lose 10 to 30 percent of the card's value. If the card is for a retailer you do not use, this is usually worth it. If you have time and the card has a high balance, waiting for a buyer who will pay closer to face value can reduce your loss.

Converting the Card Through a Purchase and Refund

Some people buy something with the gift card, then return it and request a refund to their bank account. This works only if the retailer refunds to the original payment method—and since the original payment was the gift card, the refund goes back to the card, not your bank account. You end up with the same problem you started with.

The exception is if you buy something, return it, and the retailer offers you a refund in a different form (store credit, a different payment method, or cash). This is rare and depends entirely on the retailer's policy. Call the store's customer service line before attempting this—they can tell you whether they will refund to a bank account instead of the card.

Using a Third-Party Payment App

Apps like PayPal, Venmo, and Square Cash sometimes let you add a gift card as a payment method, but this does not transfer the balance to your bank account. Instead, you are linking the card so you can spend from it through the app. The money stays on the gift card until you use it.

Some payment apps do offer a workaround: you can load the gift card balance into the app's wallet, then transfer from the app to your bank account. However, this only works if the app supports loading gift cards (not all do) and if the gift card is a network card like Visa or Mastercard. Retail-specific cards almost never work with these apps.

What to Do If the Card Has a Small Balance

If the remaining balance is under $10, selling the card usually costs you more in lost value than the money is worth. Instead, spend it. Use the card at the retailer, combine it with another payment method if the balance does not cover the full purchase, or give it to someone who shops there regularly.

If you are determined to convert it to cash, some platforms do accept low-balance cards, but the payout after their fee may be just a few dollars. Check the platform's minimum balance requirement before listing.

Protecting Yourself From Scams

Never share your gift card number or PIN with anyone who contacts you first, even if they claim to represent the card issuer or a resale platform. Legitimate platforms ask you to enter this information directly into their find website, not through email or text.

When selling on a resale platform, use only established companies with buyer protection and money-back guarantees. If a buyer claims the card did not work, the platform should hold your payment while they investigate. Avoid platforms that ask you to send the card information before payment is confirmed.

Frequently Asked Questions

Can I transfer a Visa gift card to my bank account?

Some Visa gift cards allow transfers through the issuer's app or website, but not all. Contact the customer service number on the back of your card and ask whether your specific card supports bank transfers. If it does, the process takes 3 to 5 business days and may include a small fee.

What if I lost the PIN for my gift card?

Contact the card issuer's customer service number (on the back of the card or the receipt) and request a PIN reset. You will need to verify your identity and may need the original receipt. Once reset, you can use the card or sell it on a resale platform.

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.

Which resale platform pays the fastest?

Raise and CardCash both process payments within 1 to 3 days for most cards, though some platforms hold funds briefly for verification. Check the platform's FAQ or contact their support team before listing to confirm their current payout timeline.

Can I use a gift card to buy something, then return it for cash?

Most retailers refund to the original payment method, which means the refund goes back to the gift card. Some stores offer exceptions—call ahead and ask whether they will refund to a bank account or provide cash instead. This varies by retailer and location.