Direct transfer from gift card to bank account usually isn't possible
Most gift cards cannot transfer money directly to a bank account. The card issuer—whether Visa, Mastercard, a retailer, or a digital wallet—does not offer a direct link to your bank. What you can do instead depends on what type of gift card you hold and whether it has a balance remaining.
The most reliable method is to spend the gift card at a merchant or online retailer, then deposit cash or a refund into your bank account. A smaller number of gift cards—primarily Visa and Mastercard branded ones—can be converted to a bank transfer through a third-party service, though this usually costs money and takes several days.
Key Takeaways
- Visa and Mastercard gift cards can sometimes be transferred to a bank account through a third-party money transfer service, but the process costs a fee and takes 1 to 3 business days.
- Retailer-specific gift cards (Target, Amazon, Walmart) cannot be transferred to a bank account directly; you must spend them or sell them.
- Digital wallet gift cards (PayPal, Square Cash, Apple Pay) may allow you to link a bank account and transfer the balance, depending on the service.
- Selling a gift card through an online marketplace takes 2 to 7 days to receive payment and typically costs you 5 to 15 percent of the card's value.
Visa and Mastercard gift cards: using a money transfer service
If your gift card is branded with Visa or Mastercard—not tied to a specific retailer—you may be able to transfer the balance using a third-party money transfer service. Services like MoneyLion, Raise, or CardCash accept certain prepaid cards and can move the balance to your bank account, though not all cards are accepted and fees apply.
The process typically requires you to provide the card number, expiration date, and CVV, then verify your bank account details. The service deducts a fee (usually 2 to 5 percent of the balance) and transfers the remaining amount to your bank account within 1 to 3 business days. Before you attempt this, check the service's website to confirm your specific card is supported—many decline cards with low balances or cards issued more than a few years ago.
This method works best if you have a substantial balance and the fee is worth the convenience. For a $50 gift card, a 5 percent fee means you receive $47.50; for a $10 card, the fee may exceed the value.
Retailer gift cards: spending or reselling
Gift cards from specific retailers—Target, Walmart, Amazon, Best Buy, or local stores—cannot be transferred to a bank account. Your only options are to spend the card at that retailer or sell it on a secondary market.
If you choose to spend it, you can make a purchase and then return the item for a refund to your original payment method (usually your bank account or credit card). This works only if the retailer accepts returns and you have a receipt or proof of purchase. Some retailers refund to the original payment method; others may refund to store credit or a new gift card instead, so confirm the return policy before you buy.
If you want to convert the card to cash without spending it, you can sell it on a gift card marketplace. Websites like Raise, CardCash, or Decluttr buy unused gift cards at a discount—typically 5 to 15 percent below face value. You list the card, a buyer purchases it, and you receive payment via bank transfer, PayPal, or check within 2 to 7 days. The discount reflects the buyer's risk and the marketplace's cut.
Digital wallet gift cards: linking a bank account
If your gift card is stored in a digital wallet—PayPal, Square Cash, Apple Pay, or Google Pay—the transfer process depends on the wallet provider. Some allow you to link a bank account and transfer the balance directly; others do not.
PayPal, for example, lets you transfer a PayPal gift card balance to a linked bank account, though the transfer takes 1 to 3 business days and may incur a small fee depending on your account type. Square Cash (now called Cash App) allows transfers to a linked bank account, typically within 1 to 3 business days. Apple Pay and Google Pay do not offer direct balance transfers; you must spend the balance on purchases or send it to another user.
Check your wallet provider's help section or contact their support to confirm whether your specific card type supports bank transfers and what fees or timelines apply.
What happens if the gift card has a low balance
Gift cards with balances under $10 to $15 are often not worth transferring. A third-party money transfer service may decline the card outright, or the fee may consume most or all of the remaining value. A gift card marketplace may also reject low-balance cards because the payout to you would be minimal.
For small balances, your best option is usually to spend the card at the retailer or merchant. If you cannot use it, consider donating it to a local charity, school, or community organization—many accept gift cards as donations.
Fees and timelines across different methods
| Method | Card Type | Fee | Timeline | Minimum Balance |
|---|---|---|---|---|
| Third-party money transfer service | Visa, Mastercard prepaid | 2–5% of balance | 1–3 business days | $15–$25 |
| Spend and return | Retailer-specific | None (if retailer accepts returns) | Depends on retailer return policy | Any amount |
| Sell on marketplace | Retailer-specific | 5–15% discount | 2–7 business days | $10–$25 |
| Digital wallet transfer | PayPal, Square Cash | $0–$2 depending on provider | 1–3 business days | $1–$5 |
Avoiding scams when selling or transferring gift cards
Gift card fraud is common on both sides: scammers pose as buyers on marketplaces, and fraudulent money transfer services steal card information. Protect yourself by using only established, well-known platforms—Raise, CardCash, and Decluttr are legitimate and have buyer protection policies. Never use a service that asks you to pay a fee upfront or wire money before receiving payment.
When you list a gift card for sale, do not share the full card number or PIN publicly. Most legitimate marketplaces ask you to enter this information only after a buyer is matched and the transaction is secured. If a buyer contacts you outside the marketplace platform, decline—legitimate transactions happen only through the platform's protected system.
If you use a third-party money transfer service, verify the company's website directly by typing the URL into your browser rather than clicking a link in an email or text. Phishing emails often impersonate legitimate services and direct you to fake login pages designed to steal your card and bank information.
Frequently Asked Questions
Can I transfer a gift card balance to someone else's bank account?
No. Gift card balances are tied to the card itself, not to a person. You cannot transfer the balance to another person's bank account directly. You can send the physical card or its number to someone else, or you can spend the card and send them cash or a bank transfer separately.
What if my gift card has been sitting unused for years?
Check your card's expiration date and the retailer's or issuer's policy on expired cards. Federal law requires Visa and Mastercard gift cards to remain valid for at least five years; retailer-specific cards vary by state and company policy. Contact the issuer to confirm the card is still active before attempting to transfer or sell it.
Do I have to pay taxes on money I transfer from a gift card to my bank account?
No. A gift card is not income—it is a prepaid balance you received as a gift. Transferring it to your bank account does not create a taxable event. However, if you sell the card at a loss on a marketplace, you cannot deduct the loss on your taxes.
Why do money transfer services charge a fee to move gift card money?
Third-party services charge a fee because they assume the risk of the transaction, verify the card's validity, and process the bank transfer on your behalf. The fee also covers their operating costs and profit margin. You are paying for convenience; the alternative is to spend the card yourself.
Is it safe to sell my gift card on an online marketplace?
Yes, if you use an established marketplace with buyer protection and seller verification. Raise, CardCash, and Decluttr are legitimate and have dispute resolution processes. Never sell through a personal classified ad or an unverified third party, and never share your full card number before the transaction is secured on the platform.