The direct answer: most gift cards cannot go straight into a bank account
A gift card is not money — it is a promise from a store or company to let you buy things. Your bank account holds actual money. Because of that difference, you cannot deposit a gift card the way you would deposit a check. Instead, you have to convert the gift card into money first, then move that money into your bank account.
The most common way is to spend the gift card at the store or online, then transfer the remaining balance to your bank account if the retailer offers that option. Some gift cards let you do this directly through their website or app. Others require you to use the money to buy something, then return it for a refund to your bank account — which works, but takes extra steps.
Key Takeaways
- Gift cards are store credit, not money, so you cannot deposit them directly into a bank account the way you deposit a check.
- Many retailers let you transfer an unused gift card balance to a linked debit card or bank account through their website or app.
- If the retailer does not offer a transfer option, you can buy something with the gift card and return it for a refund to your bank account.
- Some third-party apps and websites buy gift cards from you at a discount and send the money to your bank account, though you receive less than the card's face value.
- Visa and Mastercard gift cards sometimes work like debit cards and can be used to transfer money, depending on the card's terms.
Transferring the balance directly through the retailer
The fastest way is to check whether the store or company that issued your gift card lets you move the balance to a bank account. Major retailers like Target, Walmart, Amazon, and Best Buy all have this option, though the exact steps vary.
Log into your account on the retailer's website or app, find the gift card section, and look for an option to transfer the balance. You will usually need to link a debit card or bank account first. The retailer will ask for your routing number and account number — the same information you would give to set up direct deposit at a job. Once linked, you can transfer the remaining balance, and the money typically arrives within one to three business days.
Not every retailer offers this. Smaller stores, restaurants, and local businesses often do not have the technology to transfer balances. If you do not see a transfer option on their website or app, move to one of the other methods below.
Buying something and returning it for a refund
If the retailer does not offer a direct transfer, you can buy an item with the gift card and return it for a refund to your bank account. This works because most stores will refund to the original payment method — in this case, your gift card — but if you ask, they may refund to a different account instead.
Buy something inexpensive that you can easily return: a household item, a gift card to another store, or something you actually want. Keep the receipt. Then return the item in person or by mail, depending on the store's policy. When you return it, tell the cashier or customer service representative that you want the refund sent to your bank account, not back to the gift card. You will need to provide your routing number and account number, just as you would for a direct transfer.
This method takes longer — returns can take one to two weeks to process, plus another one to three business days for the refund to reach your bank — but it works at almost any retailer. The downside is that you lose the gift card balance if you cannot find something to buy and return.
Using a gift card resale website or app
Websites and apps like Raise, CardCash, and Decluttr buy unused gift cards from you and send the money to your bank account. The process is straightforward: you enter the gift card number and balance, they verify it works, and they send you a payment.
The catch is that you will receive less than the card's face value — usually 70 to 90 percent of what the card is worth, depending on the retailer and current demand. A $100 gift card might sell for $80 to $90. The company keeps the difference as profit.
This method makes sense if you have a gift card you will not use and need the money quickly. The payment usually arrives within one to five business days. However, if you plan to spend the gift card anyway, you lose money by selling it this way. Only use this option if you genuinely do not want to shop at that retailer.
Visa and Mastercard gift cards: a different category
Visa and Mastercard gift cards work differently from store gift cards because they function like debit cards. You can use them anywhere that accepts Visa or Mastercard, not just one store.
Some Visa and Mastercard gift cards let you transfer the balance to a bank account through their issuer's website or app — check the card's terms or call the number on the back. Others do not allow transfers at all. If your card does not support transfers, you can use it to make a purchase online or in person, then return the item for a refund to your bank account, just as you would with a store gift card.
A few Visa and Mastercard gift cards are linked to a digital wallet like Apple Pay or Google Pay, which can sometimes connect to a bank account. Check your card's documentation to see what options are available.
What to watch out for
When you transfer a gift card balance or process a refund, the money goes to the bank account you specify. Make sure you provide the correct routing number and account number — a mistake will send the money to the wrong account, and recovering it can be difficult.
Some gift cards charge a fee if they sit unused for a long time, or if you have not used them in over a year. Check the card's terms before deciding to hold onto it. If a fee is coming, transferring or spending the balance sooner is better.
Resale websites and apps are legitimate, but they do take a cut. Read their terms to understand what percentage you will receive and how long the payment takes. Some sites hold the money for a few days before sending it to your bank account.
Frequently Asked Questions
Can I deposit a gift card directly at an ATM or bank branch?
No. ATMs and bank tellers accept checks, cash, and sometimes mobile deposits, but not gift cards. You have to convert the gift card to money first using one of the methods above, then deposit that money into your account.
What if my gift card has a small balance left — like $3?
Most retailers will let you transfer balances of any size, even a few dollars. If the retailer does not offer transfers, you can spend the remaining balance on anything at that store, or use a resale site if you do not plan to shop there. Some resale sites have minimum balance requirements, so check before you try to sell a very small card.
How long does it take for the money to show up in my bank account?
Direct transfers from a retailer usually take one to three business days. Refunds from returns can take one to two weeks to process, plus another one to three business days to reach your account. Resale websites typically send money within one to five business days, though some hold it longer.
Do I lose money if I use a resale website?
Yes. Resale sites pay 70 to 90 percent of the gift card's face value, so you lose 10 to 30 percent. Only use this option if you will not spend the gift card otherwise. If you plan to use it, keep the card and shop with it instead.
What if the retailer will not let me transfer the balance?
Buy something you can return, then ask for the refund to go to your bank account instead of back to the gift card. This works at almost any store. If you cannot find anything to return, a resale website is your last option, though you will receive less than the card's value.