Most gift card balances cannot be transferred directly to a bank account
The short answer is no—you cannot move money from a gift card to your bank account the way you would transfer funds between two bank accounts. A gift card is a prepaid card issued by a specific retailer or payment network, and the money on it exists only within that closed system. Your bank has no way to pull funds from a gift card, and the card issuer has no mechanism to push them to an external bank account.
However, there are workarounds. You can convert a gift card balance into usable money through a few indirect routes: spending the balance on something you can resell, using a third-party service that buys gift cards, or in rare cases, using a card that functions as both a gift card and a debit card. Each method has different costs, timelines, and risks.
Key Takeaways
- Gift card balances live in a closed system controlled by the issuer and cannot be transferred directly to a bank account.
- You can sell your gift card balance to a reseller like CardCash or Raise, though you will receive less than the card's face value.
- Some prepaid cards issued by Visa or Mastercard can be linked to your bank account and may allow balance transfers, but most retailer gift cards cannot.
- Spending the gift card on items you can resell online is free but requires effort and may result in a loss depending on what you buy.
- Scams targeting gift card holders are common—never give anyone remote access to your card or its PIN.
Why gift card money stays locked in the issuer's system
A gift card is not a bank account. When you load money onto a Starbucks card, Target card, or Amazon gift card, that money is held by the retailer or their payment processor, not by a bank. The card itself is just a key to access that balance—it has no connection to the banking system that your checking or savings account uses.
Banks cannot access funds held outside the banking system, and retailers have no reason to build a feature that lets customers move money elsewhere. The entire point of a gift card is to keep spending within that retailer's ecosystem. Transferring balances to bank accounts would undermine that business model.
The only exception is a prepaid card issued by a major payment network like Visa or Mastercard. These cards sometimes function like debit cards and may allow you to link them to a bank account or withdraw cash at an ATM. But even then, the card issuer controls whether that feature exists—most do not offer it.
Selling your gift card to a reseller
The most straightforward way to convert a gift card to cash is to sell it to a third-party reseller. Companies like CardCash, Raise, Decluttr, and Gameflip buy unused gift cards from people and resell them to other customers. You list your card, they verify the balance, and they send you payment via bank transfer, check, or PayPal.
The catch is that you will not receive the full face value. Resellers typically pay 70 to 92 percent of the card's value, depending on the retailer and current demand. A $100 Amazon gift card might sell for $85 to $92, while a card for a less popular retailer might fetch only $70. The less popular the retailer, the deeper the discount.
The process usually takes three to seven business days from the time you submit your card information until you receive payment. You will need to provide the card number and PIN (if it has one), so only use a reseller with a solid reputation and secure website. Check reviews on Trustpilot or the Better Business Bureau before sending your card details.
Spending the card and reselling what you buy
If you do not want to use a reseller, you can spend the gift card on items you can resell yourself. Buy something popular and in-demand—electronics, brand-name clothing, books, or collectibles—then list it on eBay, Facebook Marketplace, or Poshmark. The money you receive from the sale goes to your bank account.
This method is free but requires time and effort. You have to photograph the item, write a listing, handle shipping or local pickup, and deal with returns or disputes. You will also likely take a loss because you are selling used or new items at a discount to move them quickly. A $50 gift card spent on a book might only resell for $30 after fees and shipping.
This approach works best if you already know what you want to buy and have a platform where you regularly sell items. If you are doing this just to move a gift card balance, the time investment often is not worth the small amount of money you recover.
Using a prepaid card that links to your bank
Some prepaid cards issued by Visa or Mastercard do allow you to link them to a bank account or transfer funds to one. If your gift card is actually a reloadable prepaid card—not a one-time use retailer card—check the issuer's website or call customer service to see if this feature is available.
Even if the card supports transfers, the process varies. Some cards let you transfer money online through their app or website. Others require you to visit an ATM and withdraw cash, which you then deposit into your bank account. A few allow you to link the card to your bank account and initiate a transfer directly, though this is rare.
Read the card's terms and conditions or contact the issuer before assuming this option is available. Most retailer-specific gift cards do not offer it. Prepaid cards designed as general spending tools are more likely to have this capability.
Avoiding scams and protecting your card information
Scammers target gift card holders constantly. Common scams include fake reseller websites that collect your card information and never send payment, phone calls claiming to be from the card issuer asking you to "verify" your balance, and people offering to buy your card at face value through social media (they disappear after you send the card details).
Never give your gift card number, PIN, or any personal information to someone who contacts you unsolicited. Do not use a reseller you found through a social media ad or unsolicited email. Stick to well-known companies with established websites and check their reviews on independent sites like Trustpilot.
If you are selling a card, use only the official website of the reseller—not a link from an email or text message. Verify the URL in your browser's address bar before entering any information. If a deal sounds too good to be true—someone offering to buy your card at full value when resellers typically pay less—it is a scam.
What to do if your gift card has a small balance left
If your gift card has only a few dollars remaining, it may not be worth selling to a reseller. The reseller's fee and the discount they apply might leave you with almost nothing. In this case, your best options are to spend the remaining balance at the retailer, combine it with cash or another payment method to make a purchase, or donate the card to someone who will use it.
Some retailers allow you to add a gift card balance to your account and use it toward future purchases. Others let you use multiple payment methods in a single transaction, so you can pay part of a purchase with the gift card and the rest with cash or a credit card. Check the retailer's website or ask in-store about these options.
Frequently Asked Questions
Can I transfer a gift card balance to PayPal or Venmo?
Not directly. PayPal and Venmo do not accept gift card numbers as a funding source. However, you can sell your gift card to a reseller that pays via PayPal or Venmo, or you can spend the gift card on items and resell them, then transfer the proceeds to PayPal or Venmo from your bank account.
What if my gift card issuer goes out of business?
If the retailer closes, your gift card balance may be lost. Some states have laws requiring retailers to honor gift cards or refund the balance, but these laws vary and enforcement is weak. Check your state's attorney general website for gift card protections. If the card issuer is a payment network like Visa, the balance is more likely to be protected.
Can I use a gift card to load money onto a prepaid debit card?
Some prepaid card services allow you to load funds using a gift card, but this is uncommon. Check the prepaid card's website to see if gift card funding is an option. Even if it is, you are just moving the money from one closed system to another—you still cannot transfer it directly to a bank account unless the prepaid card itself supports transfers.
Do I have to pay taxes on money I make selling a gift card?
If you sell a gift card for less than its face value, you are taking a loss, not making income, so there is no tax. If you somehow sell it for more than face value (rare), the difference may be taxable as income. Consult a tax professional if you are selling gift cards in large quantities or as a regular business.
Is it safe to sell my gift card online?
It is safe if you use a reputable reseller with a secure website and good reviews. Stick to established companies like CardCash, Raise, or Decluttr. Never use a reseller you found through an unsolicited email or social media ad, and always verify the website URL before entering your card information.