The simplest way: use the gift card to buy something, then return it for cash
If your gift card is from a store that allows returns, you can buy an item, return it when ready, and ask for cash back instead of store credit. This works at most major retailers. You walk out with cash, deposit it at your bank like any other money, and you're done.
The catch is that some stores limit cash returns to a certain dollar amount, or require you to return the exact item you bought rather than swapping it for something else. Call the store's customer service line before you try this — they can tell you their specific policy in two minutes.
Key Takeaways
- Most gift cards cannot be deposited directly into a bank account because they are not the same as cash or a check.
- The fastest route is usually to spend the gift card at the store, return the item for cash, and deposit that cash at your bank.
- Some gift card companies offer transfers to a linked bank account, but this only works if the card issuer supports it and you set it up beforehand.
- Third-party resale sites buy gift cards for cash, but they pay less than face value — typically 70 to 90 percent of what the card is worth.
- Never give your gift card number to someone offering to "transfer" it for you, as this is a common scam.
Transferring directly from a gift card company (if available)
Some gift card issuers — particularly Visa and Mastercard gift cards — let you link the card to your bank account and transfer the balance directly. This only works if the card was set up to allow transfers when you first received it, and not all gift cards have this feature.
To learn about yours does, look at the back of the card or visit the card issuer's website. You'll need your bank account number and routing number, which you can find on a check or by logging into your bank's website. The transfer usually takes one to three business days.
Store-specific gift cards — like Target, Amazon, or Starbucks cards — almost never offer direct bank transfers. For those, the return-and-cash method is your best option.
Selling the gift card for cash (at a discount)
If you don't want to spend the money at that store, you can sell the gift card to a resale marketplace. Websites like Raise, CardCash, and Decluttr buy unused gift cards and pay you cash or a deposit to your bank account.
The trade-off is that you won't get the full face value. A $100 gift card might sell for $75 to $90, depending on the store and current demand. The more popular the store, the closer to full value you'll get. The process usually takes a few days: you list the card, a buyer purchases it, you send the card details, and the site deposits money into your bank account once they verify the card works.
Only use established resale sites with buyer protection. Never sell a gift card through a classified ad or to a stranger, and never give the card number to anyone before payment clears.
Using the gift card to pay bills or buy things you'd buy anyway
This isn't moving money into your bank account, but it accomplishes the same goal: freeing up your own cash. If the gift card is from a store where you regularly shop — a grocery store, pharmacy, or gas station — use it there and deposit the cash you would have spent into your bank instead.
This works especially well for gift cards to places like Amazon or Walmart, where you buy things monthly anyway. Spend the gift card there, and put that month's grocery or household budget into savings or checking instead.
What doesn't work: scams to avoid
Do not trust anyone offering to "transfer" your gift card balance to your bank account for a fee or a percentage cut. These are scams. Legitimate gift card transfers either happen directly through the card issuer's website (and cost nothing) or through established resale sites (which buy the card from you, not transfer it).
Similarly, do not give your gift card number to someone on social media, a text message, or an email claiming they can move the money for you. Once they have the number, they can spend the balance and you have no way to recover it.
Comparing your options
| Method | Time to get cash | Amount you receive | Best for |
|---|---|---|---|
| Return item for cash | Same day | Full value | Store gift cards, when you can return easily |
| Direct bank transfer | 1–3 business days | Full value | Visa/Mastercard gift cards set up for transfers |
| Resale marketplace | 3–7 business days | 70–90% of value | Any gift card, when you don't want to spend it there |
| Spend it yourself, save your cash | when ready | Full value (indirectly) | Stores where you shop regularly anyway |
Frequently Asked Questions
Can I deposit a gift card directly into my bank account like a check?
No. Gift cards are not checks or cash, so banks cannot process them as deposits. You have to convert the gift card to actual money first — either by spending it and returning items for cash, transferring through the card issuer's website, or selling it on a resale site.
What if the store won't let me return something for cash?
Ask the customer service desk what their return policy is before you buy. Many stores will give you cash back on returns, but some only offer store credit or exchanges. If cash returns aren't allowed, your next option is a resale marketplace or using the card to buy something you'd buy anyway and saving your own cash instead.
Is it safe to sell my gift card online?
It's safe if you use an established resale site like Raise or CardCash that has buyer protection and a track record. These sites verify the card works before paying you. Never sell through classified ads, text, or to someone you don't know in person, and never send the card number before you receive payment.
Why do resale sites pay less than the full value?
Resale sites buy gift cards at a discount because they're taking on the risk that the card might not work, or that demand for that store might drop. They make their profit by selling the card to another buyer at a higher price. The discount is usually 10 to 30 percent, depending on how popular the store is.
Can I use a gift card to pay my credit card bill?
Not directly — credit card companies don't accept gift cards as payment. But you can use the gift card to buy something, return it for cash, deposit that cash into your bank account, and then pay your credit card bill from there.