You cannot deposit a gift card directly into a checking account
A gift card is not a check, a transfer, or a payment method your bank recognizes. You cannot walk into a branch or use an ATM and deposit the card itself. Instead, you have to convert the gift card balance into money first — either by spending it, transferring it to a payment app, or selling it — and then move that money into your checking account.
The method you choose depends on what kind of gift card you have, whether you want to keep the full balance, and how quickly you need the money in your account. Some routes take minutes. Others take a few days or cost you a small percentage of the balance.
Key Takeaways
- Gift cards cannot be deposited directly; you must convert the balance to money first through spending, a payment app, or a resale site.
- Linking a Visa or Mastercard gift card to a payment app like PayPal or Square Cash lets you move the balance to your checking account in one or two business days.
- Selling the gift card on a resale platform like CardCash or Raise will put money in your bank account, but you receive 70 to 95 percent of the card's face value.
- Spending the gift card at the merchant and then depositing the refund as a check or transfer is free but requires the merchant to issue a refund.
Link a Visa or Mastercard gift card to a payment app
If your gift card is a Visa or Mastercard branded card (not a store-specific card), you can add it to PayPal, Square Cash, Venmo, or a similar payment app. Once it is linked, you can transfer the balance to your checking account. The process takes one to two business days.
Open the payment app on your phone or computer. Go to the section for adding a card or payment method — usually labeled "Wallet," "Cards," or "Payment Methods." Enter the gift card number, expiration date, and CVV (the three-digit code on the back). The app will verify the card by charging a small amount (usually under $1) and then refunding it. Once verified, you can transfer the full balance to your linked checking account.
Check the app's transfer fees before you start. Most payment apps charge nothing to transfer money to a checking account linked to your Social Security number, but some charge $1 to $3 for instant transfers. A standard transfer (one to two business days) is usually free.
Sell the gift card on a resale platform
Websites like CardCash, Raise, Decluttr, and GameStop Trade-In buy gift cards at a discount and deposit the money into your checking account. You will receive 70 to 95 percent of the card's face value, depending on the card type and current demand.
Visit the resale site and search for your gift card by merchant name. The site will show you the current offer — for example, a $100 Amazon card might be worth $92 to $98. If you accept, you will be asked to provide the card number, expiration date, and PIN (if there is one). The site verifies the balance and then deposits the money into your checking account within one to five business days.
Store gift cards (Target, Walmart, Best Buy) typically sell for 90 to 95 percent of face value. Restaurant and entertainment cards often sell for 70 to 85 percent. The discount reflects the site's cost to resell the card and the risk that the merchant will go out of business. Rates change daily based on supply and demand.
Spend the gift card and deposit a refund check
If you use the gift card to buy something and then return it, the merchant will usually issue a refund. Some merchants refund to the original card; others offer store credit or a physical check. If you receive a check, you can deposit it into your checking account through mobile check deposit or at a branch.
This method is free but requires you to make a purchase first and then return it — and the merchant must be willing to issue a refund check rather than refunding to the card. Call the merchant's customer service before you buy to confirm their refund policy. Some merchants will only refund to the original payment method and will not issue a separate check.
Mobile check deposit is available through most banks' apps. Take a photo of the front and back of the check, enter the amount, and submit it. The deposit usually appears in your account within one to two business days.
Use a bank account transfer service
Some banks and financial apps let you add a gift card as a payment method and then transfer money from it to your checking account. This works the same way as linking to a payment app, but it happens inside your bank's system.
Log into your bank's app or website and look for "Add a Card" or "Link External Account" in the settings. Enter your gift card details. Once verified, you can transfer the balance to your checking account. The timeline is usually one to two business days, and most banks charge nothing for this transfer.
Not all banks offer this feature. If your bank does not, a payment app like PayPal or Square Cash is the next-easiest option.
What to do if the gift card has a small balance
If the gift card has less than $5 or $10 left on it, the resale sites and payment apps may not accept it — the processing cost would eat up most of the value. In this case, your best option is to spend it. Use the card at the merchant to buy something small, or combine it with another payment method to make a purchase.
Some merchants let you use a gift card with a low balance on the same transaction as a credit card or debit card. Ask the cashier or check the merchant's website to confirm. If you are shopping online, add the gift card as a payment method and let the system charge the remaining balance to another card.
Frequently Asked Questions
Can I deposit a store gift card like Target or Walmart directly into my checking account?
No. Store-specific gift cards are not linked to Visa or Mastercard and cannot be added to payment apps. Your options are to spend the card at that store, sell it on a resale site like Raise or CardCash, or return a purchase for a refund check.
How long does it take to transfer a gift card balance to my checking account?
One to two business days for most payment apps and bank transfers. Resale sites typically deposit money within one to five business days. Instant transfers through some payment apps cost $1 to $3 extra and complete within minutes.
Will I lose money if I sell my gift card?
Yes, resale sites pay 70 to 95 percent of the card's face value. The discount depends on the merchant and current demand. Linking to a payment app or your bank costs nothing and transfers the full balance.
What if my gift card has no PIN or I do not know the balance?
Check the merchant's website or call their customer service line with the card number. Most merchants have a balance checker online. If the card requires a PIN and you do not have it, contact the merchant to request a PIN reset or replacement card.
Can I transfer a gift card balance to someone else's checking account?
Not directly. You would have to convert the gift card to money first (through a payment app or resale site) and then send that money to another person using a payment app like Venmo or PayPal. The other person would then deposit it into their checking account if they want.