You cannot deposit a gift card directly into a bank account, but you have several ways to convert the balance to cash or move it to your account

A gift card is not a bank instrument—it is a stored-value card issued by a retailer or payment network. Your bank will not accept it as a deposit because the card itself holds the money, not you. However, you can move that money into your bank account through concrete routes: transfer the balance to a linked payment app, use a cash-back option at a store, request a check from the issuer, or sell the card to a reseller. Which method works depends on the card type and what the issuer allows.

The fastest option is usually cash-back at a retail store, which takes minutes. The most direct option for prepaid network cards is a transfer through the card issuer's website. The most flexible option is a payment app like PayPal, which works with most card types and lets you move money to your bank account in one to three business days.

Key Takeaways

  • Gift cards cannot be deposited directly into a bank account because they are not bank instruments and do not connect to the banking system.
  • You can move a gift card balance to your bank account by transferring it to PayPal, Venmo, or a similar app that lets you cash out to a linked bank account.
  • Retail gift cards sometimes allow cash-back at checkout, and some issuers will mail you a check for the remaining balance if you request it.
  • Prepaid card gift cards (Visa, Mastercard, American Express) can sometimes be transferred to a bank account through the card issuer's website or app without using a third party.
  • Resale platforms like CardCash and Raise let you sell unused gift cards for cash, though you will receive less than the card's face value.

Transfer the balance through a payment app

The fastest route for many gift cards is to link them to PayPal, Venmo, or a similar payment app, then cash out the balance to your bank account. PayPal lets you add most Visa, Mastercard, and American Express gift cards to your wallet, spend the balance, and transfer any remainder to your bank account. Venmo works similarly for prepaid cards but has stricter limits on how much you can transfer per transaction.

To do this, open the app, go to your wallet or payment methods, and select "Add a card." Enter the gift card number, expiration date, and CVV. Once linked, you can spend the balance or, if the app offers it, request a transfer to your linked bank account. Some apps charge a small fee for this transfer—typically $0.50 to $2—so check the app's terms before you proceed. The transfer usually takes one to three business days.

This method works best for prepaid network cards (Visa, Mastercard, American Express) and some retailer cards that operate on those networks. Closed-loop cards—gift cards that work only at one store—cannot be added to most payment apps. If you are unsure whether your card will work, try adding it to the app; the system will reject it if it cannot process that card type.

Request cash-back at a retail store

Many retailers allow you to get cash back when you use a gift card at checkout, even if your purchase is smaller than the card's balance. This is not a universal policy—it depends on the store and sometimes on the state where you are shopping. Target, Walmart, Best Buy, and most grocery chains allow cash-back on gift cards. Some stores cap the amount you can withdraw per transaction, often at $20 to $50.

To use this option, go to the store, buy something small (or nothing, depending on the store's policy), and ask the cashier for cash-back on your gift card. The cashier will swipe the card, deduct the amount from the balance, and hand you cash. You can then deposit that cash into your bank account at an ATM or branch. This method is immediate but requires you to visit a physical store and may involve a small purchase. If the store does not allow cash-back, the cashier will tell you at the register.

Ask the issuer for a check

If the gift card has a small balance remaining and you no longer want to use it, you can contact the issuer and request a check for the balance. This works for both retailer gift cards and prepaid network cards. Call the customer service number on the back of the card or visit the issuer's website to find the request process.

The issuer will ask you to provide the card number and verify your identity. Some will mail a check within one to two weeks; others may require you to mail the card itself before they issue payment. A few issuers charge a small processing fee ($1 to $3) for this service. Once you receive the check, deposit it into your bank account through mobile check deposit, at an ATM, or at a branch. Keep records of your request in case the check does not arrive.

Sell the gift card to a reseller

Platforms like CardCash, Raise, and Gameflip let you sell unused gift cards for cash. You list the card, a buyer purchases it, and the platform deposits money into your bank account or PayPal. The catch: you will receive less than the card's face value, typically 70 to 95 percent depending on the card type and current demand.

To sell, create an account on the platform, select the card type and balance, and follow the verification steps. Most platforms ask you to photograph the card or enter the code to confirm it is real. Once a buyer purchases it, the platform either deposits the money directly into your bank account or sends it to PayPal, which you can then transfer to your bank. The process usually takes three to seven business days from sale to deposit. This method is useful if you have a card you will not use and want to convert it to cash quickly, but the discount means you lose a portion of the card's value.

Prepaid card gift cards and direct transfers

Some prepaid card gift cards—particularly Visa and Mastercard branded ones—allow you to transfer the balance directly to a bank account through the card issuer's website or mobile app. American Express prepaid cards sometimes offer this feature as well. The process varies by issuer, but typically involves logging into your account, selecting a transfer option, and linking your bank account.

Check the back of your card or the issuer's website to see if this option is available. If it is, you can usually transfer the full balance in one transaction, and the money will arrive in your bank account within one to three business days. Some issuers charge a fee for this service, while others offer it free. This is the most direct route if your card supports it, because no third-party app or store visit is required. Not all prepaid cards offer this feature, so you may need to call customer service to confirm.

What does not work

Do not try to deposit a physical gift card at a bank branch or ATM—the card will not be accepted because it is not a bank account or debit card. Do not attempt to use a gift card number to set up a bank transfer; banks do not recognize gift card numbers as valid account numbers. Do not send a gift card through the mail to a bank or payment processor expecting them to deposit it; this is a common scam vector and legitimate companies will not handle physical cards this way.

If you have a retailer gift card and the store has closed or gone out of business, contact the card issuer or the state's unclaimed property office. Some states hold abandoned gift card balances; others require the issuer to honor the card indefinitely. You can search your state's unclaimed property database through the National Association of Unclaimed Property Administrators (NAUPA) website.

Frequently Asked Questions

Can I use a gift card to open a bank account?

No. Banks require an initial deposit from a valid bank account, debit card, or check—not a gift card. However, you can convert the gift card to cash or transfer it to a payment app, then use that money to fund a new account.

What if my gift card has expired?

Federal law prohibits expiration dates on gift cards issued after 2010, with limited exceptions for cards issued by nonprofits or government agencies. If your card has an expiration date, contact the issuer to confirm whether it is still valid. Many issuers will honor expired cards if you request it.

Can I transfer a gift card balance to someone else's bank account?

Not directly. You would need to convert the gift card to cash or a payment app transfer first. If you use PayPal or Venmo, you can send money to another person's account, but the gift card balance must be in your account first.

Do payment apps charge fees to add a gift card?

Adding a gift card to an app is usually free, but transferring the balance to your bank account may cost $0.50 to $2 depending on the app. Check the app's fee schedule before you proceed.

What is the fastest way to get gift card money into my bank account?

Getting cash-back at a store is fastest—you walk out with cash in minutes and can deposit it immediately. Transferring through PayPal or another payment app takes one to three business days. Requesting a check from the issuer takes one to two weeks.