The short answer: it depends on the card
You cannot deposit most gift cards directly into a bank account the way you would a check. But you have several paths to move the money: you can spend the card's balance at the retailer, convert it to cash through a third-party service, sell it to someone else, or — if the card is a Visa or Mastercard gift card rather than a store card — use it like a debit card to pay bills or transfer funds online.
The method that works depends on what kind of gift card you have, whether you want the full balance or can accept a discount, and how quickly you need the money in your account.
Key Takeaways
- Store gift cards (Target, Amazon, Walmart) cannot be deposited into a bank account directly, but you can spend the balance and use the freed-up money elsewhere.
- Visa and Mastercard gift cards can be linked to online payment systems like PayPal or used to pay bills, which moves the money out of the card and into your regular spending.
- Third-party services and gift card resale sites will buy your card for less than face value — typically 70 to 90 percent — and deposit cash into your account.
- Some banks let you add a gift card as a payment method, which effectively converts the balance into funds you can use for any purchase.
Store gift cards and how to use the balance
A Target, Walmart, Amazon, or other retailer gift card is not a bank product and has no connection to the banking system. The card holds a balance at that retailer only, and that balance can only be spent there.
If you want the money in your bank account instead, you have to spend the card first. Buy something you would normally purchase anyway — groceries, household items, gas — and use the freed-up money from your regular budget for other things. This is not moving money into your account, but it accomplishes the same goal: the gift card value becomes available for your other needs.
Some retailers let you check your balance and spend it online, which makes this easier if you do not want to visit a store. You can also combine a store gift card with another payment method — spend $50 of the card and pay the remaining $20 with your debit card, for example.
Visa and Mastercard gift cards: treating them like debit cards
A Visa or Mastercard gift card is different from a store card. It is a prepaid card issued by a bank, and it works anywhere Visa or Mastercard is accepted — online, in stores, for bill payments. You can use it to pay your electric bill, your phone bill, or any other recurring expense, which effectively moves the money out of the card and into your regular cash flow.
You can also link a Visa or Mastercard gift card to PayPal, Venmo, or similar services. Once linked, you can transfer the balance to your bank account or use it to pay other people. The process is the same as linking a regular debit card: you provide the card number, expiration date, and CVV, and the service treats it as a payment method.
Some banks also let you add a prepaid card as a payment source in their mobile app. This does not move the money into your account, but it lets you spend the card's balance through your bank's bill-pay system or transfer it to another account you control.
Selling your gift card for cash
If you want actual money in your bank account rather than just the ability to spend the card, you can sell it to a third party. Sites like Raise, CardCash, and Decluttr buy gift cards at a discount and deposit cash into your account.
The discount varies by card type and current demand. A popular retailer like Amazon or Target might sell for 85 to 95 percent of face value. A less common card or one from a struggling retailer might sell for 60 to 75 percent. You list the card, the buyer pays the site, the site verifies the balance, and then the cash goes to your bank account — usually within a few business days.
The trade-off is clear: you lose 5 to 40 percent of the card's value to get when ready cash. This makes sense if you need money urgently or if the card is for a store you do not shop at. It makes less sense if you can spend the card yourself.
Using a gift card to pay bills or transfer money
If your gift card is a Visa or Mastercard, you can use it to pay bills directly through your biller's website. Log into your electric company, insurance provider, or credit card company, add the gift card as a payment method, and pay your bill. The money leaves the card and goes to the biller, freeing up money in your regular budget.
You can also use a Visa or Mastercard gift card to send money to someone else through apps like Venmo or Square Cash. Link the card, send money to a friend or family member, and ask them to send it back to your bank account. This is not a direct transfer, but it moves the money out of the card and into a form you can access more easily.
Some people use this method to move money between their own accounts: they link the gift card to a payment app, send money to themselves, and receive it in their bank account. The process takes a few days and may involve small fees, but it works when other options are not available.
What happens if you try to deposit a gift card directly
Banks do not accept gift cards as deposits. If you walk into a branch with a store gift card or even a prepaid Visa, the teller cannot deposit it into your account. The card is not a check, not a money order, and not a bank product — it has no routing number or account number tied to your bank.
Some ATMs let you deposit checks and cash, but they do not accept gift cards. Mobile deposit apps work the same way: they scan checks and photographs of cash, not gift cards.
If someone tells you that you can deposit a gift card directly into your bank account, they are either mistaken or describing a workaround like the ones above — using the card to pay a bill or linking it to a payment app — rather than an actual deposit.
Comparing your options side by side
| Method | Card Type | Money in Bank Account? | Time to Complete | Cost or Loss |
|---|---|---|---|---|
| Spend the card at the retailer | Store cards, Visa, Mastercard | No — frees up your budget instead | when ready | None |
| Link to PayPal or Venmo | Visa, Mastercard only | Yes, if you transfer to your bank | 1–3 days | Small transfer fee possible |
| Pay a bill with the card | Visa, Mastercard only | No — frees up your budget instead | when ready to next business day | None |
| Sell to a gift card site | Any card | Yes | 3–5 business days | 5–40% discount on face value |
Frequently Asked Questions
Can I deposit a Visa gift card into my bank account?
Not directly. But you can link it to PayPal, Venmo, or your bank's bill-pay system and move the balance that way. You can also use it to pay bills or send money to yourself through a payment app, which effectively moves the money into a form your bank recognizes.
What if the gift card has a small balance left on it?
Small balances are hard to sell because resale sites have minimum thresholds, often $5 or $10. Your best option is to spend it at the retailer, combine it with another payment method, or link it to PayPal and transfer the balance to your bank account even if it is just a few dollars.
Do gift card resale sites charge fees?
No — the fee is built into the discount you receive. If you sell a $100 card for $85, you have already paid the $15 fee. Some sites charge a small withdrawal fee when you cash out to your bank account, usually $1 to $2, so check their terms before you list.
Can I use a gift card to open a bank account?
No. Banks require a deposit from a real bank account, check, or cash. A gift card is not a valid funding source for opening an account.
What if my gift card is expired?
Most gift cards do not expire, but some do — check the card or the retailer's website. If it has expired, you cannot spend it or sell it. Contact the retailer directly to ask if they will honor an expired card; some will, especially if the expiration is recent.