We have all been in a situation when we wished we could convert visa gift cards to cash. In this post, I will discuss various ways that we can use to have a Visa gift card exchanged for cash.
When it comes to discarding the use of cash the world still has a long way to go.
Even these days where online and card payments are very popular, there are still times when you still have to use cash.
For instance some small convenience stores and in most traditional markets, most sellers still only accept cash.
It is in such places that we may wish we had converted our visa gift cards to cash.
When it comes to shopping cash is still popular even in the western world.
I remember a few years ago I was in serious need of cash but the only card I had at that time was a visa gift card.
It was a very tricky situation and I wished the guy that had given me a visa gift card had just given me some cash instead.
You see, there could be several reasons why someone might want wish to get cash from a Visa gift card
Related: How To Earn Free Amazon Gift Cards
8 Ways To Convert Visa Gift Cards to Cash
In the next paragraphs, I will discuss various ways you can use to get money off Visa gift cards such a Vanilla Visa gift card. Some are straightforward while others are a bit cumbersome. They, however, both achieve the same result. Below is the list of things you can do to convert visa gift cards to cash.
1. Add your Visa gift card to Paypal wallet
PayPal Wallet is a phone app that allows you to pay with a PayPal account.
It is called a wallet because you can add your cards to this app and use them when making payments through this app.
One way to get cash from a visa gift card is to add the visa gift card to your PayPal wallet.
Once added then you can send it that another PayPal account that you are holding.
Afterward, you can use a PayPal debit card to withdraw the cash.
In case you don’t have another PayPal account you can send the money to a colleague who can withdrawal it for you.
The only drawback with this method is that PayPal will charge a processing fee of 1.4%
If your PayPal wallet is connected to your bank account then that is much better as you can then transfer the money to your bank account.
Unfortunately, sometimes it may take up to five business days to reach your bank account.
2. Add your Visa Gift Card to Venmo
Venmo is a PayPal owned mobile payment service that allows you to transfer money with friends using a mobile phone.
This app allows users to add Visa gift card balances.
Unfortunately, sometimes the app may block your attempt to add a visa gift card as a fraud prevention measure.
But if it lets you do it then you can transfer the fund to your bank account.
To do this you need to use the “Transfer to Bank” on the menu.
As is the case with PayPal, this transaction can take a few working days before it hits your bank account.
3. Swipe Your Visa gift card using Square reader
For those that have a Square reader, then they can just swipe the Visa gift card into this app.
There is however a fee of 2.75 percent for each swipe.
Afterward, you can transfer the funds to your bank account.
If you don’t have a Square reader then you can do this manually for a 3.75 percent charge.
4. Reselling to get cash from a Visa gift card
Another expensive way to turn a Visa gift card into cash is to resell it to Visa gift card resellers.
Most of these will charge very high fees when you compare them to other methods mentioned in this article.
You should only resort to this if you are desperate to liquidate these cards.
There are companies such as Raise that will charge you 15% of the balance on the card in commissions.
If you want to use Raise you can download their mobile app where you can sell your visa gift cards.
Afterward, you can send the card to them.
In terms of payment, they offer two options i.e. PayPal or a check
Another way to resell your card is to use sites such as eBay.
Here at least you have some control over the price as compared to sites such as Raise.
This way you might be able to get an amount closer to the balance if you play your cards well.
5. Buy money orders with the Visa gift card
Another way would be to use your Visa gift card to buy money orders.
There will be a fee of course which will be charged to the card.
Therefore you have to take that into account before embarking on this path.
This method depends on whether your card will let you buy money orders, some don’t.
If it does allow you to do this then you cash the money orders or deposit them into your bank account.
6. Load Visa gift card into GoBank cards at Walmart
I am not sure if this still works but it used to be possible to load Visa gift cards to your GoBank cards at Walmart.
GoBank is a brand of Green Dot Bank and is associated with Walmart.
Actually you can only make cash deposits at Walmart as they don’t have brick and motor bank branches.
7. Buy items on sale and resell
One cool way to liquidate Visa gift cards is to use them to buy some stuff that is on sale and reselling those items. I know of people who take advantage of Boxing day sales to buy things like clothes.
Just a few minutes of a Google search can alert you to some amazing deals that you can take advantage of. You can for example for words like, “closing down sale”, “sale everything must go”. And similar words to find bargains in your area.
It is then just a case of whether you have enough money in your Visa gift card to afford the goods being sold. You can then use that money on your card to buy something you can resell at a profit. I have seen sales that offer a 50 percent discount.
As a result, you will therefore not only get cash but get even more money if you can resell at a profit.
I know some of you might not want to follow this method as it is time-consuming.
However, the fact is that nothing comes for free in this world.
If you want to do well in this world and make extra money you have to be willing to put in the time.
Related: How To Flip Items For Profit
8. Give them out to friends instead of cash or gifts
If you get a Visa gift card there is nothing to prevent you from passing it on to others too. After all it is not in anybody’s name so legally anyone can use it.
For example, if one of your friends is celebrating a birthday you can give them your Visa gift card as a birthday gift. IIn this way you will avoid the hassle of going to shops trying to look for things to buy. This is especially cool for a person like me who hates shopping.
I like giving people Visa gift cards rather than actual gifts as they allow the receiver to buy the things they really want. During birthdays people end up receiving gifts of things they already have. I remember during my wedding we received all sorts of things such as plates that we really did not need. I wish people had given me Visa gift cards instead.
Another advantage of sending Visa gift cards is the cost of sending them is much less than sending a shoe for instance.
Conclusion on Converting Visa Gift Cards To Cash
As you can see there are various ways to convert Visa gift cards to cash. Some are cheap and some are a bit expensive. You just need to find a method that appeals to your situation.
If it were me I would just use the card to purchase items and not try to get the cash as due to the cost and the hassle it is not worth it for me. It is however a different story if you are really in serious need of real cash. In that case then even me would want to get the cash regardless of the cost.
Frequently Asked Questions on Visa Gift Cards
Can you put a Visa gift card in your bank account?
No, It is not possible. Definitely not directly but you can use the ways mentioned in the article above to indirectly get the cash and then move it to your bank account. These methods include adding them to PayPal Wallet mobile app and then transferring the amount to your account.
Can you buy a Visa gift card online?
Yes, visa gift cards can be bought online besides buying them from retailers, department stores, etc. You can buy them from sites such as giftcards.com.
Can I sell gift cards online?
It is possible to resell a visa gift cards as shown in the paragraphs above. There are sites such as Cardpool.com where you can sell your gift cards. You will, however, have to mail the card to the company you have sold the card to. Though sometimes you can just send the gift code electronically.
Where can I sell my gift cards for cash in person?
There are a few places where you can sell your gift card in person such as Coinstar Exchange kiosks in grocery stores across the United States.
Are Visa gift cards traceable?
The transactions themselves are traceable as they are tracked by Visa but it is another thing when it comes to tracing the user. This is because there is no name or contact information connected to the card.
Having said that I should still add that one can still trace the buyer of a gift card easily if they bought it using a debit card or using their bank account.
In this case, the seller or law enforcement can be able to track you through your card details or bank details used during the purchase. But if you use cash to purchase the gift card it would be difficult to trace the purchaser.
Another way law enforcement or others can track the user of a gift card is through the IP address of the computer used to do a transaction. Most people don’t know that almost all the transactions we do online leave a digital footprint.
Even the emails we send leave a digital footprint in the form of the IP address from which it was sent. It does not matter whether you are using Gmail or yahoo mail. Another way an investigator can trace you is through the mailing addresses you use when doing your purchases.
How are gift cards activated?
Some cards may need to be activated like all normal bank cards by calling the provider or you can do it online using the instructions on the card. However, most gift cards are already activated at the time they are bought. In this case, the one who receives it does not need to do anything.
Is a visa gift card the same as cash?
A Visa gift card is definitely not the same as cash as it has some limitations. For example, you cannot use a gift card at an automated cash machine to get cash.
You are therefore limited to paying using the card all you can use the tips or workarounds mentioned in this article to get the cash from the gift card.
But it should be clear that you cannot directly get cash from the gift card. When you use a gift card you are drawing the money from a bank account that is set up by a bank and managed by whatever company issued the card.
How to get cash from a vanilla Visa gift card?
To get cash from a vanilla gift card, you need to follow the steps already mentioned from the paragraph at the beginning of this article to this point. It is essentially the same steps that we have used above to convert visa gift cards to cash. A Vanilla gift card is not different from the other visa gift cards.
To recap what has already been pointed out below are the various ways that I have already mentioned in the paragraphs above.
- Add to Paypal wallet
- Add your Visa Gift Card to Venmo
- Swipe Your Visa gift card using Square reader
- Reselling to get cash from a Visa gift card
- Buy money orders with the Visa gift card
- Load into GoBank cards at Walmart
- Buy items on sale and resell
- Give them out to friends instead of cash or gifts