What you can and cannot do with a Way2Go card

A Way2Go card is a prepaid debit card issued by your state to deliver unemployment benefits, pandemic information, or other government payments. You cannot transfer the card itself to a bank account — the card stays with you. What you can do is move the money sitting on the card into a checking or savings account you own at a bank or credit union.

The method depends on how your card works and what your bank accepts. Most people use one of three routes: an ATM withdrawal followed by a deposit, a direct transfer if the card issuer allows it, or a peer-to-peer payment app. Each has different costs, speed, and limits.

Key Takeaways

  • You can withdraw cash from an ATM using your Way2Go card and deposit it at your bank, which is free but takes time and carries the risk of losing cash.
  • Some Way2Go card issuers allow you to link the card to your bank account and transfer money directly, though this varies by state and issuer.
  • Peer-to-peer apps like Venmo or PayPal let you send money to yourself or a trusted person, but they may charge fees and have daily limits.
  • The fastest and safest route is calling the customer service number on the back of your Way2Go card to ask whether direct transfer is available for your specific card.

ATM withdrawal and bank deposit

This is the most straightforward method and costs nothing. Withdraw cash from any ATM that accepts your card's network (usually Visa or MasterCard), then walk into your bank branch or use your bank's ATM to deposit the cash. The withdrawal is when ready, but the deposit may take one to two business days to show in your account, depending on your bank's processing time.

The downside is that you are handling physical cash, which can be lost or stolen. If you withdraw a large amount, you may also trigger your bank's reporting requirements or feel unsafe carrying that much cash. For amounts under $500, this method works well. For larger sums, explore the other options first.

Direct transfer from the card issuer

Some states and card issuers allow you to set up a direct transfer from your Way2Go card to a linked bank account. This is the fastest and safest method if it is available to you. The money moves in one to three business days, and you never handle cash.

To learn about your card supports this, call the customer service number printed on the back of your Way2Go card. Have your bank account number and routing number ready. The issuer will tell you whether they offer transfers, what the daily or monthly limit is, and whether there is a fee. Some issuers charge $1 to $3 per transfer; others do not charge at all. If your card does support transfers, the issuer will walk you through linking your bank account over the phone or through their website.

Peer-to-peer payment apps

Apps like Venmo, PayPal, Square Cash, and Zelle let you send money from your Way2Go card to another person or to yourself. If you send money to yourself, you can then withdraw it to your bank account. This works if your card issuer does not offer direct transfers, but it adds an extra step and may cost more.

Most peer-to-peer apps charge no fee when you link a debit card, but some charge $0.50 to $2.50 per transaction. Daily limits vary — Venmo caps transfers at $300 per week for unverified accounts, while PayPal allows up to $5,000 per day. If you use this method, send a small test amount first to make sure the card works with the app you choose.

What to avoid and why

Do not use a check-cashing service or payday lender to move money from your Way2Go card. These services charge 2 to 10 percent of the amount you cash out, which means you lose money unnecessarily. A $500 withdrawal can cost $10 to $50 in fees alone.

Avoid giving your card number to anyone else, even if they promise to transfer the money for you. This is how card fraud happens. The only people who should have your card number are the card issuer's customer service team and legitimate payment apps you trust.

Timing and limits you should know

ATM withdrawals are when ready, but bank deposits take one to two business days. Direct transfers from the card issuer take one to three business days. Peer-to-peer transfers can take one to three business days as well, depending on the app and your bank.

Most Way2Go cards have daily ATM withdrawal limits of $500 to $1,000, depending on the state and card type. Direct transfers and peer-to-peer transfers may have separate daily or monthly limits. If you need to move more than your daily limit allows, you will need to spread the transfers across multiple days.

If your bank rejects the transfer

Sometimes a bank will reject a deposit or transfer because the account name does not match the card name, or because the bank flags the transaction as unusual. If this happens, contact your bank first to ask why the transfer was rejected. They will tell you whether the issue is on their end or the card issuer's end.

If your bank rejected it, you may need to verify your identity or update your account information. If the card issuer rejected it, call their customer service line — they can often override the rejection or suggest an alternative method. Keep a record of the rejection notice so you can show it to either party if needed.

Frequently Asked Questions

Can I transfer my Way2Go card balance to someone else's bank account?

Not directly. You can only move money to a bank account in your own name. If you want to give money to someone else, withdraw cash and give it to them, or use a peer-to-peer app to send them money directly from the card.

Does transferring money from my Way2Go card cost anything?

ATM withdrawals and bank deposits are free. Direct transfers from the card issuer may charge $0 to $3 per transfer, depending on the issuer. Peer-to-peer apps usually charge nothing for debit card transfers, but some charge $0.50 to $2.50. Always ask the issuer or app before you transfer.

How long does it take to move money from Way2Go to my bank account?

ATM withdrawals are when ready, but bank deposits take one to two business days. Direct transfers and peer-to-peer transfers take one to three business days. Weekends and holidays may add extra time.

What if I lost my Way2Go card?

Call the customer service number on your statement or your state's unemployment office right away to report it lost. They will freeze the card to prevent fraud. You can request a replacement card, which usually arrives in five to ten business days. In the meantime, ask whether the issuer can transfer your balance to a temporary account or issue a check.

Can I set up automatic transfers from my Way2Go card to my bank account?

Some card issuers allow recurring transfers, but most do not. Call the customer service number on your card to ask whether your specific card supports automatic transfers. If it does, they will explain how to set it up and what the limits are.