The main ways to transfer gift card money to your bank account
You can move gift card money to your bank account through three routes: a third-party transfer service that converts the card balance to cash, a debit card linked to the gift card network (like a Visa or Mastercard gift card), or spending the balance at the issuer's own bank if they operate one. The method that works depends on what kind of gift card you have and whether the issuer built in a transfer option.
The fastest and most direct route is usually a debit card gift card—Visa, Mastercard, or American Express branded cards—because you can link them to your bank account the same way you would a regular debit card, or use them to pay bills online. If your gift card is store-specific (Target, Amazon, Best Buy), you will need either a third-party service or to spend the balance and deposit cash separately.
The timing varies. Debit card transfers settle in one to three business days. Third-party services typically take longer—sometimes a week or more—and charge a fee that reduces what you receive. Spending the balance and depositing cash is when ready but requires you to make a purchase first.
Key Takeaways
- Visa, Mastercard, and American Express gift cards can be linked directly to your bank account or used to pay bills online, making them the simplest route.
- Store-specific gift cards (Target, Walmart, Amazon) cannot transfer directly to a bank account and require either a third-party service or spending the balance first.
- Third-party services like Raise and CardCash buy your gift card at a discount, paying you less than the full balance in exchange for speed and cash.
- Transfers from debit card gift cards to your bank account take one to three business days; third-party services take longer and charge fees.
- Some gift card issuers allow you to request a check or direct deposit if you have registered the card with them.
Linking a debit card gift card to your bank account
If your gift card is branded Visa, Mastercard, or American Express, you can treat it like a regular debit card. Log into your bank's website or app, go to the section for adding a payment method or linked accounts, and enter the gift card number, expiration date, and CVV (the three-digit code on the back). Your bank will verify the card with a small test deposit—usually under $1—that appears in one to two business days.
Once linked, you can transfer money from the gift card to your checking account the same way you would from any external account. The transfer typically settles in one to three business days. Some banks allow you to set up a recurring transfer if the gift card has a balance you want to move over time.
Alternatively, you can use the gift card to pay bills directly through your bank's bill pay system, or to pay down a credit card balance. This does not put cash in your account, but it frees up money you would have spent elsewhere.
Using a third-party gift card marketplace
Services like Raise, CardCash, and Decluttr buy gift cards from you at a discount and deposit the cash to your bank account. You photograph or enter the card number and PIN, the service verifies the balance, and they offer you a price—typically 70 to 95 percent of the card's face value, depending on the card type and current demand.
If you accept the offer, the service deposits the money to your bank account within a few business days to a week. The fee is built into the discount: a $100 gift card might sell for $85, meaning you lose $15 to the transaction. Store-specific cards (Target, Walmart, Best Buy) usually sell for a smaller percentage of face value than Visa or Mastercard branded cards.
The trade-off is speed versus loss. You get cash quickly without spending the balance, but you receive less than the card is worth. This route makes sense if you have a card you will not use and need cash now. It does not make sense if you plan to spend the balance anyway—you would lose money for no reason.
Spending the balance and depositing the cash
The simplest method, if you are willing to make a purchase, is to spend the gift card balance and deposit the cash or use a debit card. Buy something you need or would buy anyway, pay with the gift card, and use the money you would have spent on that purchase to deposit into your bank account instead.
This works with any gift card—store-specific or otherwise—and has no fees. The downside is that you have to make a purchase first, and you are limited to what the store sells. If the card has a small balance left over after a purchase, you will have a remainder you cannot easily use.
Some retailers allow you to request a cash refund for the remaining balance if you return an item, though policies vary. Check the store's return policy before you buy.
Requesting a check or direct deposit from the issuer
Some gift card issuers—particularly those that issue reloadable prepaid cards—allow you to request a check or direct deposit of your remaining balance. This is most common with Visa and Mastercard branded cards that you have registered with the issuer's website.
Log into your account on the card issuer's website, look for a section on account settings or balance management, and see if there is an option to request a payout. If one exists, you can usually choose between a check mailed to your address or a direct deposit to your bank account. Processing time varies by issuer but typically takes one to two weeks for a check and one to three business days for direct deposit.
Not all issuers offer this option, and some charge a fee. Check the card's terms or contact customer service to confirm whether a payout is available before you spend time setting it up.
What to do if your gift card is store-specific and you cannot use a third-party service
If you have a store-specific card (Amazon, Target, Walmart) and do not want to use a third-party marketplace, your only option is to spend the balance. Buy something you need, use a debit card for the rest of the purchase, and deposit the cash you saved into your bank account.
Some stores allow you to buy gift cards for other retailers using your store gift card—for example, buying an Amazon gift card at Target. This does not move money to your bank, but it lets you consolidate balances or move the money to a card you use more often. Check whether your store offers this before you assume you are stuck.
If the card has a very small balance left and you cannot spend it, contact the store's customer service. Some will issue a refund to the original payment method if the balance is below a certain threshold, though this is not may provide.
Fees and what they cost you
Direct transfers from debit card gift cards to your bank account have no fee—your bank may charge a small fee for linking an external account, but most do not. Third-party marketplaces charge an implicit fee by buying your card at a discount: you lose 5 to 30 percent of the face value depending on the card type and current market demand.
Some gift card issuers charge a fee to request a payout, usually $5 to $15. Check the card's terms before you request one. Spending the balance and depositing cash has no fee beyond the cost of whatever you buy.
The fee structure matters most when you have a large balance. A $500 gift card sold to a third-party service might net you $400 to $450 after the discount. The same card linked to your bank account costs nothing.
Frequently Asked Questions
Can I transfer a store gift card directly to my bank account?
No. Store-specific gift cards (Target, Walmart, Best Buy, Amazon) cannot be linked to a bank account or transferred directly. You must either spend the balance, sell it to a third-party service, or request a check or direct deposit if the issuer offers one—which most store cards do not.
How long does it take to transfer a Visa or Mastercard gift card to my bank account?
One to three business days. After you link the card to your bank account and initiate a transfer, the money settles like any other external transfer. Some banks process faster than others, so check your bank's transfer timeline.
Will I lose money if I sell my gift card to a third-party service?
Yes. Services like Raise and CardCash buy cards at a discount—typically 70 to 95 percent of face value. A $100 card might sell for $80 to $95. The discount is larger for store-specific cards than for Visa or Mastercard branded cards.
What happens if my gift card has a small balance left after I spend most of it?
You can use it for another purchase, or contact the store to ask about a refund. Some retailers will refund balances below a certain amount (often $5 or less) to your original payment method, but policies vary. Check the store's website or call customer service first.
Can I use a gift card to pay my credit card bill and have the money count as a bank deposit?
No. Paying a credit card with a gift card reduces what you owe on the card, but it does not put cash in your bank account. The money stays within the credit card system. To move money to your bank account, you need to transfer it directly or spend it and deposit cash separately.