The world is constantly evolving, technology is gradually growing among the population, and people are constantly diving into new options for managing their finances.
Gift cards have rapidly grown among people since their first release in the early 1970s and 1980s as they offer the convenience for moving along with money — they relief you from the hassle of carrying along cash.
However, when dealing with finances, convenience and security are primordial, which is why, considering to transfer your Visa gift card balance to bank account is not only a great way for securing your funds, but will also make your money more flexible.
Though it is not directly possible to transfer money from a gift card to bank account, there are, however, some indirect methods to get this done.
To help you out, we've compiled the best ways to transfer Visa gift card balance to bank account.
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Can You Transfer Visa Gift Card Balance to Bank Account?
Yes, you can transfer visa gift card balance to your bank account.
It's crucial to know what kind of prepaid gift card you have before transferring your visa gift card to bank account.
Visa gift cards are used in the same way as Visa credit cards.
Although a visa gift card can be transferred to a bank account, the transfer isn't done directly.
What To Consider Before Transferring Visa Gift Card to Bank Account
- Expiry Date: — It's important to double-check that your gift card hasn't expired. If your visa gift card has expired, you won't be able to transfer money.
- Non Transferrable: — It's true that some cards aren't transferable. You might not be able to transfer your visa gift card to bank account if it is "non transferrable". Make sure yours isn't one of them.
- Dormant Card: — If your gift card hasn't been used in a long time, you may be charged an inactivity fee. To prevent charges when transferring gift cards to your bank account, make sure your gift card isn't a dormant card.
- Adequate Funds: — The majority of people spend more money on fees and charges when transferring money from a gift card to a bank account than the balance on the gift card. To avoid losing money, make sure there is enough money on your gift cards before transferring.
How To Transfer Visa Gift Card To Bank Account
As earlier mentioned, a direct transfer of Visa gift card balance to bank account isn't possible.
But did you know you can transfer Visa gift card to bank account if your bank supports the transfer? This is the case for most online banks.
If you don't have a Revolut or other supported bank account, you'd want to consider some indirect methods.
That said, some indirect ways to transfer Visa gift card to bank account include:
- Transfer Visa Gift Card to Bank Account Using Third Party Services (such as Moneygram, PayPal, Venmo, Square).
- Purchase a Gift Card Exchange Kiosk voucher and deposit the funds into your account.
- Choose a gift card selling app or website that pays you via direct deposit, allowing you to transfer your Visa gift card to your bank account using the selling price.
- Purchase a money order with your card, which will be transferred into your account.
1) Use Moneygram
MoneyGram is the United States' second-largest money-transfer company. It's fast, cheap, dependable, and, most importantly, secure.
Moneygram lets you transfer visa gift card balance to bank account by following the below steps:
Step 1: Signup for an Account at Moneygram
Click the "Sign up" option on the MoneyGram website, enter your email address, create a strong password, and sign up.
Verify that you've successfully created an account by checking your email.
Step 2: Tap "Send Money" at Moneygram Website
Click the "Send money" button in the website's top navigation bar to be redirected to a page where you can fill in your payment information. This includes the following:
- Amount to be sent
- Select Debit or Credit card
- Select the "Account Deposit" or "Debit card deposit" option.
Step 3: Fill in your Bank Details
After sending the payment information, you'll be directed to a page where you can fill in your bank information. You'll be required to provide ;
- Receiver's Name
- Card information
Click "Next" after providing this information, and your money transfer will be processed. Bravo!
You could transfer money from your visa gift card to your bank account in a matter of minutes.
It's worth noting that MoneyGram charges a fee based on the amount being sent.
Fortunately, their cost is incredibly low. For amounts under $200, it's $1.99. It charges $1.99 + 1% of the deposited amount for amounts over $200.
When sending money using MoneyGram, there is also a limit. The maximum amount you can send online is $10,000 per transaction.
If you need to send extra money, you'll have to do so in person at a MoneyGram agent store close to your location.
Visit the MoneyGram website to get started transferring a visa gift card to your bank account.
2) Use PayPal
You can use your gift card balance on PayPal in two ways — you can use your visa gift card balance on PayPal for transactions with PayPal or you can transfer your visa gift card to PayPal which will then be withdrawn or transferred to your bank account.
To transfer visa gift card directly to your bank account using PayPal, you will first need to sell the gift card balance on a gift card exchange platform such as CardCash and then request to get paid through PayPal.
Once the funds reach your PayPal account, you can then transfer the funds from PayPal to your bank account. The transfer can be instant or standard depending on the transfer process you choose from PayPal.
That said, for convenience, here is how to transfer visa gift card balance to PayPal and to bank account.
However, if you want to use your visa gift card on PayPal as a funding source for your transactions made via PayPal, here is how you should proceed.
- Create and verify a PayPal account, or login to your account if you already have one.
- Tap on "Wallet" found at the top of the page..
- Now, tap "Link a Card or Bank" option at the left side of the page.
- When PayPal prompts you for the appropriate information, enter the details for your Visa gift card.
- Finally, tap "Link Card".
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3) Use Venmo
You can easily transfer gift card to bank account with the help of Venmo. Venmo, like PayPal, is an online bank.
Follow these simple steps to transfer a gift card to a bank account using Venmo:
- Download Venmo app
- Open a Venmo app for yourself
- Click on Add gift card option
- Add your payment and bank details and then click send.
- The transfer will be completed
4) Use Square
Another alternative for transferring a Visa gift card balance to a bank account is Square. It does, however, require you to pay a percentage of the money you wish to transfer.
Here are the steps to transfer visa gift card to bank account using Square:
Step 1: Activate your Visa Gift Card Online
There is a website on your Visa gift card. To activate your visa gift card, you must first log into the website. Your Visa gift card may come pre-activated in most cases. If that's the case for your card, then proceed to step two.
Step 2: Confirm your Visa Gift Card Balance
You can do so by visiting the website or calling the phone number on the card. Visa gift card issuers are likely to charge a fee to check the balance.
Memorize the balance on your Visa Gift card before transferring it to your bank account.
Step 3: Spend the Money Quickly
If you want to transfer the balance of your gift card to a bank account, you should do so right away.
This is to avoid being charged monthly fees on your Visa card if you have a debt.
Step 4: Signup on Square
To sign up on the square, you'll need your name and email address. Basically, you may accomplish this through the app or the website.
You'll be prompted to fill in the following information: your business type, how you want to use square, and your projected yearly income. Last but not least, you must confirm your email address.
Step 5: Link your Bank Account to Square
It can take up to two days to link your bank account. Square will now deposit the balance of your Visa gift card into your bank account if it was successful.
This method may not be the ideal if you need to transfer visa gift card balances to bank accounts instantly.
How to Transfer Visa Gift Card to Bank Account Instantly
You can instantly transfer money from a visa gift card to bank account instantly without much of hassle. All you need to do is to follow the steps outlined below:
- Get your gift card information.
- Place the gift card for sell on a gift card exchange platform such as CardCash, GiftCash.
- Request to get paid through direct deposit or wire transfer.
- Receive your cash into your bank account.
You can also transfer visa gift card to bank account instantly by selling your gift card to somebody else and ask the person to pay you through bank deposit.
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Can You Add Visa Gift Card to Bank Account?
No, you cannot add a visa gift card to bank account.
isa gift cards are much like prepaid virtual debit cards and they cannot be directly linked to a bank account.
Transfer Visa Gift Card to Bank Account Venmo
Venmo is a popular payment service that accepts gift cards as a funding source.
That said, you can link your gift card to Venmo and complete your transactions; — you don't even need to transfer Visa gift card balance to bank account Venmo before using the gift card money on the app.
To do so:
- Download Venmo app and open it.
- Click on Add Card option
- Enter your gift card details.
- Use the gift card as a funding source for your Venmo transactions.
However, if you're looking to transfer Visa gift card to your bank account on Venmo, then you can just transfer the money to your Venmo balance after you must have linked the card; — it will be more like adding money to Venmo with a prepaid card.
Once you've added the money, you can then withdraw it to your linked bank account.
How to Transfer Vanilla Gift Card to Bank Account
The Vanilla Visa Gift Card is a prepaid Visa gift card with amounts ranging from $10 to $500 that can be purchased online.
They're great gifts for special occasions and as thank-you gifts for clients, employees, and business partners.
To transfer Vanilla gift card to bank account, you can go to CardCash or GiftCash and place the gift card for sale.
You can then provide your bank account details to get paid for your Vanilla gift card balance instantly.
How to Transfer MasterCard Gift Card to Bank Account
You can quickly transfer MasterCard gift cards (if they're set up with a pin) to a bank account at an ATM.
You can withdraw the money on your MasterCard gift card from an ATM and deposit it into your bank account.
How to Sell/Convert Visa Gift Card to Cash
There are many websites that let you convert your Visa gift card for cash some of which are Gift Card Granny, CardCash.
All you need to do is to visit the site, place your gift card details and get paid for selling your gift card.
That said, here is how to sell gift cards for cash instantly.
You can also sell gift cards for bitcoin instantly.
What is a Visa Gift Card?
A Visa gift card is a prepaid card loaded with a certain amount of money that can be used to make repeated purchases as long as the funds remain on the card, as well as control sending.
It is simple to use and may be used anywhere in the world. It can be used without having a bank account. Request a card, provide the funds to be deposited onto it, and the card will be ready to use.
How Does a Gift Card Works?
Gift cards are a type of prepaid debit card that may be loaded with money and used later. Gift cards are divided into two categories: open loop and closed loop. Both types are commonly used both online and in person.
There will be a minimum and maximum initial loading amount on many gift cards. There could be a minimum of $10 and a maximum of $500, for example. Gift cards can be used to pay for a portion of a transaction in some cases, with cash, debit, or credit being used to make up the difference.
Many gift cards can be registered online as a precaution to reduce the risk of losses, allowing the remaining amount to be tracked and frozen if the card is lost. In this way, some gift cards are safer than cash.
How To Use a Visa Gift Card
- Send money to family
- Shopping spree
- Purchase products and services both online and offline
- Pay for trips
- Control reckless spending
- Help spend money on a budget
- A perfect gift for friends
Final Thoughts On How to Transfer Visa Gift Card to Bank Account
Gift Cards aren't hard to get as they are being sold by many platforms and also can be gotten for free. Most often, gift cards balances can't be used in a flexible manner especially for purchasing items online. Transferring your visa gift card to bank account can ease you transactions and help you manage your funds without hassle.
This article compiles the best way to transfer visa gift card to bank account and also to cash. You can choose the method which better suits your expectations.