You cannot deposit a gift card directly into a bank account, but you have several ways to convert it to cash or use it to fund your account
A gift card is not money — it is a promise from a store or company to give you goods or services. Your bank cannot accept it as a deposit because it has no way to verify its value or convert it to actual currency. However, you can turn a gift card into usable funds through a few different routes, depending on what type of card you have and what you want to do with the money.
The most straightforward path is to use the gift card to buy something, then return it for cash if the store allows returns. Another option is to sell the gift card to someone else or to a gift card reseller. A third route — available only for certain cards — is to transfer the balance to a payment app, then move that money to your bank account. Each method has different rules about fees and how much you will actually receive.
Key Takeaways
- Gift cards cannot be deposited directly into a bank account because they are not currency and banks cannot verify their value.
- You can convert a gift card to cash by purchasing an item and returning it, selling the card to a reseller, or transferring the balance to a payment app.
- Selling a gift card usually means receiving less than its face value, with discounts ranging depending on the card type and current demand.
- Some payment apps like PayPal or Venmo allow you to add certain gift cards and then transfer the balance to your linked bank account.
- Retail gift cards are easier to convert than restaurant or specialty cards, because more people want to buy them from resellers.
Using a gift card to buy something and return it for cash
The simplest method is to use the gift card to purchase an item at the store, then return that item for a refund. Most stores will refund to the original payment method — which in this case is the gift card itself. You then have a gift card with a higher balance, or you may have a store credit that you can use later.
This works best if you actually want something from the store. If you do not, the return process becomes awkward: you are buying something you plan to when ready return, and stores sometimes flag this behavior or refuse returns without a receipt. Some stores also have return windows — usually 30 to 90 days — so you need to act quickly.
To get actual cash rather than store credit, you would need to repeat this process until the gift card balance is low enough that you can spend it on something small you genuinely want, or you would need to find another conversion method.
Selling your gift card to a reseller
Gift card reseller websites and apps buy unused gift cards from people and resell them to others. You list your card on the platform, a buyer purchases it, and you receive payment — usually through bank transfer, PayPal, or another payment method. The reseller takes a cut, so you will receive less than the card's face value.
The discount varies widely. A popular retail gift card might sell for 85 to 95 percent of face value, while a restaurant or specialty store card might sell for 50 to 80 percent. The discount depends on how much demand there is for that particular card. Cards from large retailers like Target or Amazon tend to have less discount because many people want to buy them. Cards from smaller or regional stores may be harder to sell.
Common reseller platforms include Raise, CardCash, and Gameflip, though others exist. Each has different fees, payout methods, and processing times. Some require you to photograph the card or provide the PIN before they release payment. Once you receive payment through the platform, you can transfer it to your bank account if the payment method supports it, or you may need to move it through a payment app first.
Transferring a gift card balance to a payment app
Some payment apps like PayPal, Venmo, and Square Cash allow you to add a gift card as a payment method. You enter the card details, and the app treats it as a stored card. You can then use that balance to send money to friends or, in some cases, transfer it to your linked bank account.
This method works best with Visa or Mastercard gift cards, which function like regular debit cards. Store-specific gift cards (like an Amazon or Target card) usually cannot be added to these apps because they are not recognized as standard payment cards. Check the app's help section to see which card types it accepts.
Once the gift card is added to the app, you can transfer the balance to your bank account if the app offers that feature. PayPal, for example, allows you to transfer your PayPal balance to a linked bank account, though it may take a few business days. Some apps charge a small fee for transfers, so check before you proceed.
Understanding the difference between gift card types
Not all gift cards work the same way. A store gift card — like one from Target or Best Buy — can only be used at that store or its affiliated locations. A Visa or Mastercard gift card works like a debit card and can be used anywhere those cards are accepted. A restaurant gift card works only at that restaurant or restaurant group.
Store and restaurant cards are harder to convert to cash because they have limited usefulness to a buyer. Visa and Mastercard gift cards are easier to sell or transfer because they function like regular payment cards. If you have a choice between receiving a store card or a Visa card as a gift, the Visa card gives you more flexibility later.
What to watch for when selling or transferring a gift card
Before you sell a gift card or add it to an app, check the card's balance. Most stores and card issuers have a website or phone number where you can look this up. If the card has a low balance or has expired, it may not be worth selling.
Be cautious about scams. Do not send a gift card code or photo to someone you do not know, and do not use reseller platforms that ask you to pay a fee upfront. Legitimate resellers take their cut from the sale price, not from you before the sale. If you use a reseller platform, stick to well-known ones with customer reviews.
Also check whether the gift card has any restrictions. Some cards cannot be transferred or sold, and the terms of service may prohibit it. Selling a restricted card could result in the card being deactivated, leaving the buyer with nothing and you without payment.
When it makes sense to just spend the gift card
If you are trying to convert a gift card to cash, you will almost always receive less than its full value — either through a discount from a reseller, or through the hassle of buying and returning items. If the card is for a store where you shop regularly, or for a restaurant you enjoy, it often makes more sense to straightforward use it as intended.
Gift cards also do not expire in most states, though some have inactivity fees after a certain period. Check your card's terms to see whether it has an expiration date or fees. If it does, converting it sooner rather than later makes sense.
Frequently Asked Questions
Can I deposit a Visa gift card directly into my bank account?
No, you cannot deposit a gift card itself. However, you can add a Visa gift card to a payment app like PayPal or Venmo, then transfer the balance to your bank account. The process takes a few steps but works reliably for Visa and Mastercard branded cards.
What percentage of the gift card value will I get if I sell it?
It depends on the card type and current demand. Retail cards from large stores typically sell for 85 to 95 percent of face value. Restaurant and specialty cards often sell for 50 to 80 percent. Check a reseller platform to see what buyers are currently paying for your specific card.
Is it safe to sell a gift card online?
It is safe if you use a reputable reseller platform with customer reviews and buyer protection. Avoid platforms that ask you to pay a fee upfront, and do not share your card details with individuals. Stick to established services like Raise or CardCash that handle the transaction between you and the buyer.
What happens if I try to return something I bought with a gift card?
Most stores refund to the original payment method, which means the refund goes back onto the gift card itself. You end up with a higher balance on the card rather than cash. Some stores may offer store credit instead, depending on their return policy.
Can I use a gift card to pay bills or send money to someone?
Not directly — most gift cards can only be used at the issuing store or company. However, if you add a Visa or Mastercard gift card to a payment app, you can use that app to send money to others or pay bills, depending on what the app supports.