Unlike prepaid cards that let you transfer money to a bank account, Payroll cards don't offer a direct procedure to complete such transfer, but there are a few indirect methods you can use to transfer the funds.
In this guide, I'll show you the different ways you can use to transfer money from your Payroll card to your bank account.
How to Transfer Money from a Payroll Card to Bank Account
Depending on your payroll card provider, transferring money from your payroll card to a bank account might be simple or complicated.
Unfortunately, there isn't a lot of information available about how to transfer funds from your payroll card to a bank account.
Some companies include it in their services, while others require you to contact your bank or payroll card provider.
Payroll cards, on the other hand, are the ideal solution for workers who do not have a bank account since it will let them receive direct deposits from their employers.
Once you receive your payment and want to make it more flexible, considering to transfer the funds to a bank account is one of the best options to consider.
While Payroll cards don't offer a direct way to transfer money to a bank account, it's better to speak with your bank officer or employer and inquire more about the process. It's worth noting that you might need to pay a fee to complete the transaction.
If speaking with a bank doesn't help, then you might want to consider the indirect ways to transfer money from Payroll card to bank account mentioned below.
1. Withdraw Money From ATM and Deposit to Your Bank Account
Payroll cards support ATM withdrawals from in-network banks and ATMs — meaning, you can withdraw money from your Payroll card from an ATM or participating bank freely and deposit the money into your bank account.
Modern ATMs nowadays, support deposits to bank account — which means you can withdraw the funds from your Payroll card and deposit them into your bank account at the same spot.
With that said, this method is the most straightforward and convenient indirect way to transfer money from a Payroll card to bank account.
This method is more like transferring money from an ATM card to bank account.
2. Add Your Payroll Card to PayPal
Adding your Payroll card to PayPal is one great way to dispense the cash for your transactions with PayPal and keep the cash you were to use for the transaction.
Payroll cards are more like prepaid debit cards, and PayPal allows users link prepaid cards to their PayPal account to start sending and receiving money. However, you will need to create a PayPal account and verify it to get started. Once your account is ready, you can add your card to your account and start carrying out transaction.
Ideally, you can also use the funds in your Payroll card to transfer PayPal balance to a friend or relative in exchange for cash after which you can deposit the proceeds into your bank account.
3. Buy and Sell Gift Cards
Another great way to transfer money from Payroll card to bank account is by buying gift cards with the card and selling the gift cards for cash instantly then, request to get paid through bank transfer. Gift cards work as virtual cards and can be used to complete purchases. On the other hand, you can transfer gift card balance to bank account.
You can even use the gift card to purchase an item and keep the cash you were to use for your transaction. You can also earn free gift cards and sell them for bitcoin instantly.
Final Thoughts
A payroll card is a prepaid card set up by an employer to pay the earnings or salaries of its employees. An employer sets up a payroll card with a bank or other financial institution to pay its employees.
You cannot directly transfer money from a Payroll card to bank account. You can however, contact your bank or Payroll card issuer to know if there is a way to move your money to your bank account. Some providers may even let you get paper checks or direct deposits.
On the other hand, you can use indirect methods to transfer funds from Payroll card to bank account. Though they might seam tricky, this article explains everything you should know.
