The short answer: it depends on the card
You cannot deposit a physical gift card directly into a bank account the way you would a check. But you can move the money from most gift cards into your bank account through a few different routes — the one available to you depends on what kind of card it is and which bank you use.
The most common path is to spend the gift card balance at a retailer or online, then transfer money from your checking account to cover it — which nets you nothing. The routes that actually move money into your account are: linking the card to a payment app, requesting a cash-out feature if the card issuer offers one, or selling the balance to a third-party buyer. Each has different fees and timing.
Key Takeaways
- Visa and Mastercard gift cards can be linked to payment apps like PayPal or Venmo, which then transfer the balance to your bank account, though fees vary by app.
- Some gift card issuers — including American Express and certain bank-issued cards — offer a cash-out or balance-transfer feature built into their app or website.
- Third-party marketplaces like CardCash and Raise let you sell unused gift card balances, but you will receive less than face value and the sale takes several days to process.
- Retail gift cards (Target, Amazon, Starbucks) have no direct path into your bank account and require you to spend the balance or sell it to a marketplace.
- Fees, processing time, and how much money you actually receive vary significantly by method and by card type.
Linking a gift card to a payment app
If your gift card is a Visa, Mastercard, or American Express card (not a store-specific card), you can usually add it to PayPal, Venmo, Square Cash, or Google Pay. Once linked, you can send the balance to your bank account, though the process and fees differ by app.
PayPal lets you add a Visa or Mastercard gift card as a payment method. You can then transfer the balance to your linked bank account, but PayPal charges a fee for bank transfers — typically 1% of the amount, with a minimum of $0.25 and a maximum of $2. The transfer itself takes one to three business days.
Venmo accepts Visa and Mastercard gift cards but does not have a direct "cash out to bank" feature. Instead, you can send the balance to another Venmo user, who then transfers it back to you through Venmo's standard transfer (which costs 1% for when ready transfer, or is free if you wait one to three business days). This is slower and more complicated than other methods.
Square Cash (now called Cash App) allows you to add a Visa or Mastercard gift card and transfer the balance to a linked bank account. Transfers are free if you wait one to three business days, or $1.50 for an when ready transfer.
Using the gift card issuer's own cash-out feature
Some gift card issuers built a cash-out option directly into their system. This is the fastest and cheapest route if your card offers it.
American Express gift cards often include a balance-transfer feature. Log into your Amex account online or through the app, find the card, and look for an option to transfer the remaining balance to a linked bank account. There is typically no fee, and the transfer takes one to two business days. Not all Amex gift cards have this feature — check your card's terms or contact Amex customer service to confirm.
Bank-issued gift cards (from Chase, Bank of America, Wells Fargo, and others) sometimes allow you to transfer the balance back to your checking account through the bank's app or website. Log in, find the gift card in your accounts, and look for a transfer or cash-out option. Again, not all bank gift cards offer this — it depends on the specific product and when it was issued.
If you are unsure whether your card has this feature, call the customer service number on the back of the card or check the issuer's website. It takes five minutes to confirm.
Selling your gift card balance to a marketplace
If your gift card is store-specific (Target, Amazon, Starbucks, Best Buy) or the issuer does not offer a cash-out feature, you can sell the balance to a third-party marketplace. You will receive less than the full face value, but the money does go into your bank account.
CardCash and Raise are the two largest platforms. You list your gift card, a buyer purchases it, and the site deposits the proceeds into your bank account. The discount ranges from 5% to 40% depending on the card type and current demand — popular cards like Amazon and Target typically sell for 85% to 95% of face value, while less common cards sell for much less.
The process takes three to five business days from the time a buyer purchases your card until the money reaches your bank account. Both sites verify that the card balance is legitimate before releasing payment to you, which adds a day or two.
Both CardCash and Raise charge a small fee to the seller — usually 1% to 2% of the sale price. So if you sell a $100 Amazon gift card for $90, you will receive roughly $88 after fees.
What does not work
You cannot deposit a physical gift card at an ATM or bank branch. Gift cards are not checks, and banks have no way to read or process them as deposits.
You also cannot use a gift card to fund a wire transfer or ACH payment from your bank account. The card itself is not connected to your bank account, so your bank cannot pull money from it.
Some people try to buy a money order or prepaid debit card with a gift card, then deposit that. This works in theory — you can buy a money order at a grocery store or post office with a gift card, then deposit the money order at your bank. But you will pay a fee for the money order (usually $0.70 to $2), so you lose money on the transaction. It is slower than the other methods and makes sense only if you have no other option.
Fees and timing compared
| Method | Card type | Fee | Time to bank account |
|---|---|---|---|
| PayPal transfer | Visa, Mastercard, Amex | 1% ($0.25–$2) | 1–3 business days |
| Square Cash transfer | Visa, Mastercard | Free (standard) or $1.50 (when ready) | 1–3 business days or when ready |
| Amex cash-out feature | American Express gift cards only | None | 1–2 business days |
| Bank cash-out feature | Bank-issued gift cards only | None | 1–2 business days |
| CardCash or Raise | Any gift card | 1–2% of sale price; 5–40% discount on face value | 3–5 business days |
| Money order | Any gift card | $0.70–$2 per order | 1–2 business days |
Which method to choose
Start by checking whether your card issuer offers a built-in cash-out feature. If it does — and you have an American Express gift card or a bank-issued card — use that. It is free and takes one to two business days.
If your card is a Visa or Mastercard without a cash-out feature, use Square Cash (free standard transfer) or PayPal (1% fee). Both are straightforward and take one to three business days.
If your card is store-specific or you need the money faster, sell it on CardCash or Raise. You will lose 5% to 40% of the value, but the money reaches your account in three to five days and you do not have to spend the balance yourself.
Frequently Asked Questions
Can I use a gift card to pay my credit card bill and then withdraw the money?
No. Your credit card company will not accept a gift card as a payment method. Even if you could somehow charge the payment, you would be moving money in a circle — you would owe the credit card company the amount you charged, so you would gain nothing.
What if my gift card has only a small balance left?
Payment apps like PayPal and Square Cash have no minimum balance requirement, so you can transfer even $5. Marketplaces like CardCash and Raise do have minimums — usually $5 to $10 — so very small balances may not be worth selling. In that case, spend the remaining balance at the retailer.
Do I have to pay taxes on the money I receive from selling a gift card?
No. A gift card is your own property, and selling it for cash is not taxable income. You are converting an asset you already own into a different form.
Can I link a store gift card (like Target or Starbucks) to PayPal?
No. PayPal and other payment apps only accept Visa, Mastercard, and American Express branded cards. Store-specific gift cards cannot be linked to these apps. Your only option is to sell the balance on CardCash or Raise, or spend it at the store.
How long does it take for money from a marketplace sale to show up in my bank account?
CardCash and Raise both deposit funds via ACH transfer, which takes one to three business days after the sale is verified. Verification itself takes one to two days, so the total time is usually three to five business days from the moment you list the card.