You cannot deposit a gift card directly into a bank account, but you can convert the card's balance to cash or a bank transfer in a few ways

A gift card is not money — it is a promise from a store or company to let you buy things up to a certain amount. Your bank account holds actual money that you can move anywhere. These are different systems, so you cannot straightforward scan a gift card and have the balance appear in your checking or savings account.

What you can do is turn the gift card into money first, then deposit that money. The path depends on what kind of gift card you have and which store or company issued it. Some let you transfer the balance online. Others require you to spend the card at their store, then deposit the cash you would have spent instead. A few can be sold to a third party for less than face value.

Key Takeaways

  • Gift cards cannot be deposited directly into bank accounts because they are store credit, not money.
  • Some retailers and payment networks let you transfer a gift card balance to a linked bank account or payment app through their website or app.
  • You can spend a gift card at the store, then deposit the cash you saved into your bank account instead.
  • Third-party websites buy gift cards for cash, but they pay less than the card's face value.
  • Prepaid debit cards issued by Visa or Mastercard can sometimes be linked to your bank account like a regular card, though this does not add the balance to your account.

Transferring a gift card balance directly to your bank

Some companies let you move a gift card balance to a bank account, but this is not common and depends entirely on who issued the card. Visa and Mastercard gift cards sometimes offer this option through their website — you log in, verify the card, and request a transfer to a linked bank account. The process takes a few business days.

Retail gift cards — from stores like Target, Walmart, or Amazon — rarely offer direct bank transfers. Target and Walmart let you check your balance and spend the card online, but not move the money out. Amazon gift card balances stay in your Amazon account and can only be used for Amazon purchases.

Before you assume a transfer is impossible, visit the card issuer's website and look for "transfer balance" or "cash out" options. If the option exists, it will be in your account settings or under a help section. If you cannot find it after a few minutes of looking, the card does not offer this feature.

Spending the gift card and depositing your own cash instead

The simplest method for most gift cards is to use them for purchases you were already planning to make, then deposit the cash you would have spent into your bank account. This does not technically move the gift card money into your account, but it frees up your own cash to deposit.

For example: you have a $50 grocery store gift card and planned to spend $50 on groceries this week. Use the gift card at the store instead of your debit card. Take the $50 you would have spent and deposit it into your bank account. The result is the same — your bank account is $50 richer — but the gift card balance never touched your account.

This works best for gift cards to places you shop regularly anyway. It does not work well if the card is for a store you do not use, or if the balance is too large to spend in a reasonable time.

Selling a gift card for cash through a reseller

Websites like Raise, CardCash, and Decluttr buy unused gift cards from people and resell them to others. You list your card, they verify the balance, and they send you cash or a payment to your bank account. The catch is that they pay less than the card is worth — typically 70 to 90 percent of face value, depending on the card type and current demand.

A $100 Target gift card might sell for $85 to $90 through one of these sites. A $100 restaurant gift card might sell for $70 if the restaurant is less popular. The exact price changes based on how many people want that particular card right now.

The process takes one to two weeks from the time you mail the card (or provide the code) until the money reaches your account. Read the site's terms carefully — some charge fees, and some require you to mail the physical card rather than just providing the number. If the card is worth less than $10 or $15, the reseller may not accept it because the processing cost is too high.

Using a prepaid debit card as a workaround

Some gift cards are actually prepaid debit cards issued by Visa or Mastercard. These cards have a card number, expiration date, and security code just like a regular debit card. You can use them anywhere Visa or Mastercard is accepted, including to pay bills or shop online.

You cannot move the balance into a bank account, but you can link the prepaid card to payment apps like PayPal, Venmo, or Cash App, then use those apps to send money to your bank account. This is a workaround, not a direct transfer — you are using the card to fund a payment app, which then sends money to your bank. Some apps charge fees for this, and some do not allow it at all.

Check whether your gift card is a prepaid debit card by looking for a Visa or Mastercard logo. If it has one, try adding it to a payment app you already use. If the app accepts it, you can test whether you can move small amounts to your bank account.

What does not work

You cannot deposit a gift card into an ATM the way you would a check. ATMs only accept cash and checks, not cards. You cannot call your bank and ask them to add the gift card balance to your account — they have no way to access a gift card's funds. You cannot transfer a gift card balance between gift cards or to someone else's bank account, with rare exceptions.

Some scams promise to convert gift cards to cash when ready or with no loss of value. These are not real. If a website or person claims they can move a gift card balance to your bank account for free and when ready, they are either lying or setting up a theft scheme. Legitimate conversions take time and cost money in the form of a discount.

Frequently Asked Questions

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

No. Banks require an initial deposit of cash, a check, or a transfer from another account. A gift card cannot be used as an opening deposit. If you want to convert a gift card to cash first, you can do that through one of the methods above, then use that cash or bank transfer to open an account.

What if my gift card has a very small balance left?

Small balances are hard to convert. Reseller sites often have minimum card values of $10 or $15. Your best option is to spend the remaining balance at the store, or combine it with another payment method if the store allows split payments. Some stores let you use a gift card for part of a purchase and pay the rest with cash or a debit card.

Can I add a gift card to PayPal or another payment app?

It depends on the card. Prepaid debit cards with a Visa or Mastercard logo can usually be added to PayPal, Venmo, and similar apps. Retail gift cards cannot. Once you add a prepaid card to an app, you can use it to make purchases, but moving the balance to your bank account may not be possible — check the app's rules first.

Do I lose money if I sell a gift card?

Yes, reseller sites pay less than face value. How much less depends on the card type and current demand. Popular cards like Amazon or Target typically sell for 85 to 90 percent of face value. Less popular cards or restaurant gift cards might sell for 70 to 80 percent. The discount is how the reseller makes money.

Is it safe to sell a gift card online?

Established reseller sites like Raise and CardCash are generally safe, but read reviews and check their return policy before you send a card. Never sell a gift card through an unknown website or to a stranger. If a site asks you to pay money upfront to sell a card, it is a scam.