Whether you can get a refund depends on who issued the card and why you want the money back
A Mastercard gift card is not the same as a regular Mastercard. Regular credit cards let you return purchases and get your money back to the card. Gift cards work differently — the money is already loaded onto the card by whoever bought it, and the rules for getting that money back depend on the card issuer, not Mastercard itself.
If you want a refund because you made a purchase you regret, you follow the same return process as any other card — the store refunds you, and the money goes back to the gift card. If you want a refund because the card itself has money on it you don't want to spend, that is much harder. Most gift card issuers will not refund unused balances, though a few will for a fee.
Key Takeaways
- Returns from stores go back to your gift card automatically, just like returns on any other card.
- Refunding the unused balance on the card itself is usually not possible, and many issuers charge a fee if they do allow it.
- The card's issuer — not Mastercard — sets the refund rules, so you need to find out who issued your specific card.
- If the card was a gift and you cannot use it, the person who bought it may be able to return it to the retailer for a refund within their return window.
How to find out who issued your gift card
The issuer is the bank or company that created and loaded the card with money. You can find this information on the back of the card or on your receipt. Look for a customer service number and call it — that number will connect you to the issuer, not to Mastercard.
Common issuers include banks like Chase, Bank of America, and Bancorp, as well as retailers like Target, Walmart, and Amazon. Each one has its own refund policy. Some will refund unused balances for a small fee (usually $5 to $10). Others will not refund any unused balance under any circumstances.
Returning purchases made with the gift card
If you bought something with the gift card and want to return it, the process is straightforward. Return the item to the store the same way you would with any other payment method. The store will refund the purchase price back to the card you used.
The refund may take a few business days to appear on the card balance. If the store asks for your receipt, have it ready — it will show the card ending in certain numbers, which helps the store match the refund to the right card.
When the card issuer will refund unused balance
Some gift card issuers allow you to request a refund of the remaining balance, but this is not common and usually comes with conditions. You may need to have owned the card for a certain amount of time, or the issuer may charge a processing fee that reduces what you get back.
Call the customer service number on the back of the card and ask directly: "Can I get a refund of the unused balance, and if so, what is the fee?" Write down the name of the person you speak with and the date, in case you need to follow up. Ask them to explain the policy in writing if possible.
If the card was a gift and you cannot use it
If someone gave you the card as a gift and you do not want to spend it, your best option is to ask the person who bought it to return it. Most retailers will accept a return of an unused gift card within 30 to 60 days if the original buyer has the receipt.
The original buyer should contact the retailer or bank that issued the card with their receipt. They will be able to return it for a refund to their original payment method — usually a credit card or bank account. This is faster and more likely to work than trying to get a refund yourself.
Gift cards with expiration dates or inactivity fees
Some gift cards expire or charge a monthly fee if you do not use them. Check the terms on the back of the card or the issuer's website to see if this applies to yours. If the card has already expired, the issuer may still refund the balance, but you will need to contact them quickly.
If the card has been inactive for a long time and fees have eaten into the balance, ask the issuer whether they will waive those fees. Some will as a one-time courtesy, especially if you explain that you did not know about the fees.
What to do if the issuer refuses a refund
If the issuer refuses to refund the balance and you believe they are breaking the law, check your state's gift card laws. Some states require issuers to refund balances under certain conditions, or they limit how much in fees can be charged. Your state's attorney general's office can tell you what the rules are.
You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) if you believe the issuer is violating federal law. The CFPB investigates complaints and can push companies to change their practices. Filing a complaint does not may provide you will get your money back, but it creates a record and may help other consumers.
Frequently Asked Questions
Can I transfer money from a gift card to my bank account?
Not directly. Some gift card issuers offer a service where you can transfer the balance to a linked bank account, but this is rare and usually only available for certain card types. Call the issuer to ask if this option exists for your card.
What if I lost the gift card or it was stolen?
Contact the issuer when ready with the card number (if you have it) or your receipt. Some issuers will cancel the card and issue a replacement, but this depends on their policy. The sooner you report it, the better your chances of recovering the balance.
Do I have to pay taxes on a gift card refund?
No. A refund of money you did not spend is not taxable income. You are getting back your own money, not a gift or a prize. Keep your receipt or confirmation of the refund for your records.
Can I sell my unused gift card for cash?
Yes, but you will get less than the card's face value. Websites like CardCash and Raise let you sell gift cards, but they take a percentage of the sale. If the card has a small balance, the fee may be more than what you receive.
What if the gift card balance is wrong?
Call the issuer with your receipt and card number. They can check the balance in their system and correct it if there is an error. This usually takes one business day.