Gift cards cannot be deposited directly into a bank account, but you have several ways to convert them to money you can deposit

A gift card is not a bank instrument—it's a stored-value card issued by a retailer or payment network. Your bank will not accept it as a deposit the way it accepts checks or transfers. However, you can convert most gift cards to cash or a bank transfer through a few concrete routes, each with different timelines and fees.

The fastest and most straightforward path depends on what kind of gift card you have. Visa, Mastercard, and American Express gift cards (the ones that work anywhere) can often be transferred directly to your bank account through their issuer's app or website. Retailer-specific cards like Amazon or Target require you to sell them, spend them and withdraw remaining balance, or use a third-party service.

Key Takeaways

  • Visa, Mastercard, and Amex gift cards can often be linked to your bank account through their mobile app and transferred as a direct deposit or account-to-account transfer.
  • Retailer gift cards (Amazon, Target, Walmart) cannot be deposited directly but can be sold on resale platforms, though you will receive less than face value.
  • Some retailers let you use the card to buy a money order or reload a prepaid card, which you can then deposit, though this adds steps and may carry fees.
  • PayPal, Square Cash, and similar services can accept some gift cards as payment and hold the balance in your account, but transferring to your bank takes an additional step.
  • Scams involving gift card resale platforms are common—never send a card code before confirming the buyer's payment has cleared.

How to deposit a network gift card (Visa, Mastercard, Amex)

If your gift card is branded Visa, Mastercard, or American Express, it was issued by a bank or financial company, not a retailer. These cards often come with a mobile app or online account where you can manage the balance. Log into the issuer's website or app—the card number on the back will direct you to the right company—and look for options like "transfer funds," "link to bank account," or "cash out."

Some issuers let you transfer the full balance to a linked bank account in one transaction. Others require you to set up the card as a payment method in your bank's bill-pay system, then pay yourself. The transfer usually clears within one to three business days. A few issuers charge a small fee (typically $1 to $3) for this service; most do not.

If the card does not have an app or online account, you can use it to make a purchase at any retailer that accepts that network, then return the item for a refund to your bank account. This works but is inefficient and depends on the retailer's return policy.

Selling a retailer gift card on a resale platform

Retailer-specific cards (Amazon, Target, Walmart, Best Buy, etc.) can be sold on dedicated resale platforms. The largest are Raise, CardCash, and Decluttr. You list the card, a buyer purchases it, and you receive payment to your bank account or PayPal. The process typically takes three to seven business days from sale to payout.

The catch: resale platforms take a commission and buyers know the card is secondhand, so you will receive less than face value. A $100 Amazon card might sell for $85 to $95. The discount varies by retailer, card balance, and current demand. You can check the current rate on each platform before listing.

To protect yourself, never share the full card code until the buyer has confirmed receipt and the platform has released payment to you. Scammers will ask you to send the code first, then disappear. Legitimate platforms hold your payment in escrow until the buyer confirms the card works.

Converting a gift card to a money order or prepaid card

Some retailers let you use a gift card to buy a money order or load a prepaid card like Green Dot or NetSpend. You then deposit the money order at your bank or transfer the prepaid card balance to your checking account. This route works but adds steps and fees.

For example, you could use a Target gift card to buy a money order at the customer service desk, then deposit it at your bank. Money orders typically cost $0.70 to $2 depending on the issuer. Prepaid card loads may carry a fee as well. This method is slower than direct transfer but does not require you to sell the card at a discount.

Not all retailers offer this option, and policies vary by location. Call the store or check their website before you visit.

Using PayPal, Square Cash, or similar payment apps

Some payment apps let you add a gift card as a payment method, then transfer the balance to your bank account. PayPal, for instance, allows you to link certain gift cards and use them to fund transfers. Square Cash has similar functionality for some cards.

The process is indirect: you add the card to the app, use it to send money to yourself or a linked account, then withdraw to your bank. This can take several days and may involve small fees depending on the app and card type. It is useful if you already use the app for other purposes, but it is not faster or cheaper than the direct methods above.

What does not work and why

You cannot deposit a gift card itself into a bank account the way you would a check. Banks do not accept gift cards as deposits because they are not negotiable instruments—they are proprietary payment tools issued by private companies. Your bank has no way to verify the balance or clear the transaction.

You also cannot use a gift card to open a bank account or meet a minimum deposit requirement. Banks require actual currency or a transfer from another bank account. Some online banks let you fund an account with a debit card, but a gift card will not work for this either.

Avoiding gift card scams during resale

The most common scam happens on resale platforms: a buyer asks you to send the card code before payment clears, or a seller offers an unusually high price to rush you into listing without checking the balance first. Never send a card code until you see confirmed payment in your account.

A second scam targets people trying to deposit gift cards: fraudsters pose as bank representatives and ask you to "verify" a gift card balance by reading the code aloud or taking a photo. Banks will never ask for this information. If someone contacts you claiming to be from your bank and asking about a gift card, hang up and call your bank directly using the number on your statement.

Before listing a card on any platform, check the site's reviews and verify it is the official domain (not a lookalike URL). Raise, CardCash, and Decluttr are legitimate, but counterfeit sites exist.

Frequently Asked Questions

Can I deposit a Visa gift card directly into my bank account?

Most Visa gift cards issued by banks or financial companies have an online account or app where you can transfer the balance to your linked bank account. Check the back of the card for the issuer's website. If the card does not have an online account, you can use it to make a purchase and return the item for a refund to your bank account, though this is slower.

How much will I get if I sell a gift card on a resale platform?

You will receive less than face value because the platform takes a commission and the buyer knows the card is secondhand. A $100 card typically sells for $80 to $95, depending on the retailer and current demand. Check the current rate on Raise, CardCash, or Decluttr before you list.

Is it safe to sell a gift card online?

It is safe if you use a legitimate platform and never share the full card code until the buyer has confirmed receipt and the platform has released payment to you. Scammers will ask for the code first, then disappear. Stick to well-known sites and always wait for payment confirmation before sending the card details.

What if my gift card has a small balance left on it?

Resale platforms usually accept cards with any balance, though the payout will be proportionally smaller. If the balance is very low (under $5), the commission may make the sale not worth your time. In that case, spend the card at the retailer or use it to buy a small item you need.

Can I use a gift card to open a bank account?

No. Banks require actual currency or a transfer from another bank account to open an account or meet a minimum deposit. Gift cards are not accepted as deposits because they are not negotiable instruments and banks cannot verify the balance.