No, you cannot deposit a gift card directly into your checking account
Banks do not accept gift cards as deposits. A gift card is a stored-value card issued by a retailer or payment network — it holds money that belongs to that specific merchant or system, not to you in a way a bank can recognize. When you try to deposit it, the bank has no way to verify the balance, transfer the funds, or credit your account. The transaction will be rejected at the teller window or ATM.
What you can do instead depends on what kind of gift card you have and whether the issuer offers a way to move the money out. Some gift cards can be converted to cash or transferred to a bank account through the card issuer's app or website. Others have no conversion option at all. The process varies widely, and not every gift card works the same way.
Key Takeaways
- Gift cards cannot be deposited directly into a bank account because they are not bank instruments and banks cannot verify or transfer the balance.
- Visa and Mastercard gift cards can sometimes be transferred to a bank account through the card issuer's website or app, but the process and fees vary by issuer.
- Retailer-specific gift cards (Amazon, Target, Starbucks) have no built-in transfer option and must be spent at that retailer or sold to a third party.
- You can convert some gift cards to cash by selling them on resale platforms, but you will receive less than the card's face value.
- If a gift card has a very small balance remaining, many retailers will let you spend it in-store even if it does not cover the full purchase.
How Visa and Mastercard gift cards work differently
Visa and Mastercard gift cards are branded payment cards, not retailer-locked cards. Because they carry the Visa or Mastercard logo, some banks and card issuers have built tools to let you link them to your checking account or transfer the balance. The exact process depends on who issued the card — whether it came from your bank, a third-party payment company, or a retailer that partnered with Visa or Mastercard.
Check the back of the card or visit the issuer's website to find out whether a transfer option exists. Some issuers let you add the gift card to a mobile wallet (Apple Pay, Google Pay) and then use that to send money to your bank account. Others have a dedicated app where you can request a balance transfer. A few charge a fee for this service, usually $1 to $5. If the issuer does not offer a transfer tool, you cannot move the money to your bank account directly.
Retailer gift cards and why they cannot be transferred
Amazon, Target, Starbucks, and other retailer-specific gift cards are closed-loop instruments. The money on them exists only within that retailer's system and cannot be moved to a bank account. The retailer does not have a relationship with your bank, and the funds are not held in a way that allows external transfer. These cards are designed to be spent at that retailer only.
If you have a retailer gift card you do not plan to use, your options are limited. You can sell it on a resale platform like Raise, CardCash, or Decluttr, but you will receive less than the face value — typically 70 to 90 percent depending on the retailer and current demand. You can also give it to someone else, or in some cases, contact the retailer to ask whether they offer a cash-out option (most do not).
Using a gift card to fund your checking account indirectly
If you need the money in your checking account, you can spend the gift card on something you would normally buy, then use the cash you save to deposit into your account. For example, if you have a $50 grocery store gift card and you normally spend $50 on groceries each week, use the card for that week's shopping. The $50 you would have spent from your checking account stays in the account instead.
This is not a direct transfer, but it achieves the same result: your checking account balance increases by the gift card's value. It only works if the gift card is for something you actually buy regularly. If it is for a store you never visit or a service you do not use, this approach will not help.
What to do if the gift card balance is too small to spend
Many gift cards end up with a few dollars left on them after multiple purchases. Some retailers will let you combine a small gift card balance with another payment method (debit card, credit card, cash) to complete a purchase. Others require the card to cover the full transaction amount and will decline if the balance is too low.
Call the retailer's customer service line or ask at the register whether you can split the payment. If the retailer does not allow split payments, you can try to sell the card on a resale platform, though the payout will be very small. Some people donate low-balance gift cards to charities or food banks, which can use them to purchase supplies.
Checking your gift card balance before attempting a deposit
Before you try anything, confirm how much money is actually on the card. Most gift cards have a balance-check tool on the issuer's website or app. For retailer cards, visit the store's website and look for a "Check Gift Card Balance" link, usually in the customer service section. For Visa or Mastercard gift cards, the issuer's name appears on the front or back of the card — visit their website directly.
Write down the balance and the card's expiration date. Some gift cards expire after a set period (often five to seven years), and you will not be able to use them after that date. If the card is expired or has a zero balance, there is nothing to transfer or deposit.
Frequently Asked Questions
Can I use a gift card to open a checking account?
No. Banks require an initial deposit to open a checking account, but that deposit must come from a bank transfer, cash, or a check — not a gift card. You would need to convert the gift card to cash or transfer it to another account first, then use that money to open the account.
What if my gift card issuer went out of business?
If the company that issued the card no longer exists, the card is usually worthless. Some states have laws requiring issuers to honor gift cards even after bankruptcy, but enforcement is difficult. Contact your state's attorney general's office if you believe you have a valid claim on an expired or defunct card.
Can I deposit a gift card at an ATM?
No. ATMs only accept cash deposits, checks, and in some cases, transfers from linked accounts. A gift card has no account number tied to your bank, so the ATM cannot process it. You must visit a teller or use the issuer's own app or website to explore transfer options.
Is there a fee to transfer a gift card balance to my bank account?
It depends on the issuer. Some charge $1 to $5 per transfer, while others offer it free. Check the issuer's website or app before you request a transfer. If a fee applies, the amount will be deducted from the gift card balance before the remainder is sent to your account.
What happens if I lose a gift card?
Contact the issuer or retailer immediately with the card number (if you have it) and proof of purchase. Many retailers will cancel the lost card and issue a replacement if you can show the original receipt. If you cannot prove you owned the card, the issuer may not be able to help, since gift cards are typically treated like cash once they leave the store.