No, you cannot deposit a gift card directly into a bank account
A gift card is not money — it is a prepaid voucher that works only at the store or service that issued it. Your bank will not accept it as a deposit because the bank has no way to convert it into actual funds. The card itself has no routing number, account number, or connection to the banking system.
What you can do instead is spend the gift card to buy something, then deposit the cash or use a debit card you already own. Or, if the gift card issuer offers it, you can transfer the balance to a linked payment app or account. Some retailers let you convert a gift card balance into a store credit card that works like a debit card, which you could then use to make purchases that come out of your bank account — but that is still not a direct deposit.
Key Takeaways
- Gift cards are store credit, not currency, so banks cannot process them as deposits.
- You can spend a gift card to buy items, then deposit the cash you would have spent from your bank account instead.
- Some retailers allow you to transfer a gift card balance to a digital wallet or payment app linked to your bank account.
- If you want the gift card value in your actual bank account, you would need to sell the card to a third party, which usually means accepting less than its face value.
Why banks will not accept gift cards as deposits
Banks process deposits by crediting money to your account. A gift card holds no money — it holds a promise from a retailer to let you buy things up to a certain amount. When you swipe a gift card at a store, the retailer's system checks the balance and deducts the purchase amount. No bank is involved in that transaction.
Your bank account is connected to the Federal Reserve and the banking system through routing numbers and account numbers. A gift card has neither. It is a closed system between you and one retailer (or, in the case of Visa or Mastercard gift cards, between you and the card issuer, who then routes the transaction through the payment network). The bank has no way to verify the card's balance, no way to convert it to actual funds, and no legal mechanism to credit your account with it.
Converting a gift card to usable money
If you want the value of a gift card in your bank account, you have a few options, though none are direct.
Spend it and deposit cash instead. If the gift card is for a store where you shop anyway, use it to buy items you would normally purchase. This frees up cash from your own budget that you can then deposit into your bank account. You do not gain money this way, but you do move money from your bank account to your bank account by using the gift card as a substitute for cash.
Transfer to a digital wallet or payment app. Some retailers — Target, Starbucks, and others — let you load a gift card balance into their mobile app. From there, you can sometimes transfer the balance to a linked debit card or bank account, though this varies by retailer and app. Check the retailer's website or app to see if this option exists for your card.
Sell the gift card to a third party. Websites like CardCash, Raise, and Decluttr buy unused gift cards at a discount — typically 70 to 90 percent of face value. You list the card, they verify the balance, and they send you money via bank transfer or PayPal. This gets actual money into your account, but you lose 10 to 30 percent of the card's value in the process.
Visa and Mastercard gift cards work differently
If your gift card is a Visa or Mastercard gift card (not a store-specific card), it functions more like a debit card and can be used anywhere those networks are accepted. However, you still cannot deposit it into a bank account directly.
What you can do: use the Visa or Mastercard gift card to make purchases online or in stores, just as you would a debit card. Some banks and payment apps allow you to add a Visa or Mastercard gift card as a linked payment method, which means you can use it to pay bills or transfer money, but that is not the same as depositing the card itself.
If you want to move the balance to your bank account, your best option is to sell the card through a gift card marketplace, or to use it to buy something and then deposit the cash you save.
What happens if you try to deposit a gift card
If you walk into a bank branch and ask to deposit a gift card, the teller will explain that they cannot process it. If you try to deposit it through an ATM or mobile app by taking a photo of it, the system will reject it because it does not have a valid routing number or account number.
Some people attempt to add a gift card as a linked account in their bank's app, thinking this will let them transfer the balance. This does not work — the bank's system will not recognize the gift card as a valid account to transfer from.
Frequently Asked Questions
Can I use a gift card to pay my bank account bill?
No. A gift card can only be used at the retailer that issued it (or, for Visa or Mastercard gift cards, anywhere those networks are accepted). You cannot use it to make a payment to your bank. However, you can use a Visa or Mastercard gift card to pay bills online if the biller accepts that card type as payment.
What if the gift card is from a bank?
Even if the gift card is branded by a bank, it is still not a deposit. A bank-issued gift card is a prepaid card that holds a balance at that bank, but you cannot merge it with your personal checking or savings account. You can spend it or, in some cases, transfer the balance to a linked account through the bank's app — check with the issuing bank about their specific options.
Can I deposit a gift card if I sign the back?
No. Signing the back of a gift card does not make it a negotiable instrument like a check. It is still store credit with no routing number or account number, so the bank will not process it.
What if I have multiple gift cards I want to combine?
You cannot combine gift cards into a bank account. However, some retailers let you transfer balances between their gift cards through their website or app. For cards from different retailers, your only option is to spend them separately or sell them individually through a gift card marketplace.