You cannot deposit a gift card directly into a bank account

A gift card is not a check or a transfer. Your bank has no way to read it, no connection to the retailer or platform that issued it, and no mechanism to move its balance into your account. The card itself holds a balance with that specific merchant or payment network — not with your bank.

What you can do instead depends on what kind of gift card you have. Some cards let you transfer their balance to a linked payment app. Others require you to spend the balance first, then deposit the cash or use a debit card. A few cards — primarily Visa and Mastercard gift cards — can be added to your bank account as a payment method, but that still does not move the money into your account; it just lets you spend what is on the card.

Key Takeaways

  • Retailer gift cards (Amazon, Target, Starbucks) can only be spent with that merchant or transferred to their app if that option exists.
  • Visa, Mastercard, and American Express gift cards can be linked to your bank account as a payment method, but the balance stays on the card until you spend it.
  • Some payment apps like PayPal, Venmo, and Square Cash let you add a gift card and then transfer the balance to your bank account, though fees may explore.
  • Selling the gift card through a resale platform or to a friend gets you cash, which you can then deposit normally, but you will receive less than the card's face value.
  • The fastest route to actual bank account money is a payment app that supports gift card loading and bank transfers.

Linking a network gift card to your bank account as a payment method

If you have a Visa, Mastercard, or American Express gift card, you can add it to your bank's online banking portal or mobile app the same way you would add a debit card. Log into your bank account, go to the payment methods or cards section, and select the option to add a card. Enter the gift card number, expiration date, and CVV (the three-digit code on the back).

Once linked, you can use that gift card to pay bills, make online purchases, or transfer money — but only up to the balance remaining on the card. The money does not move into your bank account. You are straightforward authorizing your bank to charge the gift card when you initiate a transaction. When the card runs out, it stops working.

This method is useful if you want to spend the gift card balance without carrying the physical card, but it does not convert the balance into bank account funds.

Using a payment app to move gift card balance to your bank

PayPal, Venmo, Square Cash, and similar apps can accept gift card numbers and hold the balance in your app account. From there, you can transfer the money to your linked bank account. The process varies slightly by app, but the general steps are: add the gift card as a payment method in the app, confirm the balance, then initiate a transfer to your bank account.

Check whether your app charges a fee for this transfer. Some apps charge a percentage (typically 1 to 3 percent) to move money from a gift card to your bank. Others charge a flat fee. A few do not charge at all. The fee is usually disclosed before you confirm the transfer, so you will know the exact amount that reaches your account.

This is the most direct route to actual bank account money, but it works only if the app you choose supports gift card loading. Not all do. PayPal and Venmo both accept most major gift cards; Square Cash is more limited. Check your app's help section or contact support before you enter the card number.

Spending the gift card and depositing cash instead

If the gift card is from a specific retailer — Amazon, Target, Starbucks, a grocery store — you cannot move the balance to your bank account directly. You can only spend it with that merchant. Buy something you would normally purchase, then deposit any cash you would have spent anyway. This does not put the gift card money into your account, but it frees up cash that you can deposit.

This method works best if you were already planning to shop at that retailer. If you have to buy something you do not need just to convert the card to cash, you are losing money on items you will not use.

Selling the gift card for cash

Websites like Raise, CardCash, and Decluttr buy unused gift cards at a discount. You list the card, they make an offer (usually 70 to 95 percent of face value, depending on the card type and current demand), and if you accept, you receive payment via bank transfer, PayPal, or check.

The discount exists because the buyer is taking on the risk that the card might not work or that they will have trouble spending the balance. Popular retailers and payment networks (Visa, Mastercard) sell closer to face value. Niche retailers or cards with low demand sell for much less.

This route gets you actual money in your bank account, but you lose a percentage of the card's value. It makes sense only if you have no intention of using the card and need the cash more than you need the full balance.

What does not work

You cannot deposit a gift card at an ATM. You cannot mail it to your bank and have them process it. You cannot call your bank and ask them to add the balance to your account. Gift cards are not bank instruments — they are merchant-specific or network-specific payment tools that your bank cannot access or convert.

Some scams promise to convert gift cards to bank deposits when ready or for a fee. These are fraudulent. If someone online offers to "cash out" your gift card for you, they are either stealing the card number or running a scheme to take your money.

Frequently Asked Questions

Can I deposit a gift card at my bank's ATM or branch?

No. ATMs accept only cash, checks, and some card deposits (like prepaid cards issued by the bank itself). Gift cards are not bank products, so your bank has no way to process them. You would need to visit a branch and speak to a teller, but they still cannot convert a gift card to a bank deposit.

Will adding a gift card to my bank account use up the balance?

No. Linking a gift card as a payment method does not move the money. It only lets you use the card to pay for things. The balance stays on the gift card until you spend it.

What if the gift card is from a store I do not shop at?

Sell it through a resale site like Raise or CardCash, or give it to someone who will use it. You will receive less than face value if you sell, but you will get cash that you can deposit into your bank account.

Do payment apps charge fees to transfer gift card money to my bank?

Some do, some do not. PayPal and Venmo typically do not charge a fee to transfer gift card balance to your bank, but fees vary by app and transaction type. Check your app's fee schedule before you start the transfer.

Is it safe to enter my gift card number into a payment app?

Yes, if you use an established app like PayPal, Venmo, or Square Cash. These companies use encryption and fraud protection. Never enter a gift card number into an unfamiliar website or an app you cannot verify.