You can deposit gift card money into a bank account, but the method depends on what kind of gift card you have
A physical gift card itself cannot go into your bank account — the card is just plastic. But the money on it can move to your bank in three ways: by transferring the balance to a linked debit card, by selling the card to a reseller, or by using the card to buy a money order or prepaid card that you then deposit. The fastest route is usually a direct transfer if the gift card issuer offers one. The most reliable route is selling the card to a reseller like CardCash or Raise, though you will receive less than the card's face value.
The method that works for you depends on which company issued the gift card, whether you have a bank account already, and how much you are willing to lose in the exchange. A Visa or Mastercard gift card works differently from an Amazon gift card, which works differently from a store-specific card like Target or Best Buy.
Key Takeaways
- Visa and Mastercard gift cards can transfer directly to a linked bank account through the issuer's website or app, usually within one to three business days.
- Store gift cards (Target, Best Buy, Walmart) cannot transfer to a bank account directly; you must sell them to a reseller or spend them and deposit the cash.
- Gift card resellers like CardCash, Raise, and Decluttr buy unused cards at a discount — typically 70 to 95 percent of face value — and pay you by bank transfer or check.
- Money orders and prepaid cards are slower alternatives that involve fees and may not recover the full card value.
- Scams targeting gift card sellers are common; never send a card code or photo to anyone who contacts you first.
How to transfer a Visa or Mastercard gift card to your bank
Visa and Mastercard gift cards issued by banks (like Chase, Bank of America, or Discover) often allow you to add the card to your online banking portal and transfer the balance directly to a linked checking or savings account. Log into your bank's website or app, find the option to add a card or transfer funds, and enter the gift card number, expiration date, and CVV. The transfer typically posts within one to three business days.
If your bank does not offer this feature, you can use the gift card as a debit card to withdraw cash from an ATM, then deposit the cash into your account. This works for any Visa or Mastercard gift card, though you may pay a fee per withdrawal — usually $2 to $3 — depending on the ATM network. Some gift card issuers waive ATM fees if you withdraw from their partner network; check the card's terms or call the number on the back.
A third option is to link the gift card to a digital wallet like Apple Pay or Google Pay, then use it to pay yourself through a peer-to-peer app like Venmo or PayPal. This is slower and may trigger fraud alerts, so it is not the best choice, but it works if the other routes are blocked.
Selling a gift card to a reseller for bank deposit
Gift card resellers buy unused cards at a discount and pay you by bank transfer, check, or PayPal. The three largest are CardCash, Raise, and Decluttr. You enter the card number and PIN (if it has one), the reseller checks the balance, and if they accept it, they send you payment — usually within one to five business days for bank transfers, longer for checks.
The payout is not the full face value. A $100 gift card typically sells for $70 to $95, depending on the card type and current demand. Store-specific cards (Target, Walmart, Best Buy) usually sell for 80 to 90 percent of face value. Visa and Mastercard gift cards sell closer to 95 percent because they are more flexible. Specialty cards like restaurant or airline cards may sell for as little as 50 to 70 percent.
Before you sell, check the card's balance on the issuer's website to make sure the amount matches what you think it is. Resellers will reject a card if the balance is lower than advertised. Also read the reseller's terms: some hold your payment for a week or two after purchase to make sure the card was not reported stolen or fraudulent. If the card is flagged, the reseller keeps the money and you lose the card.
Using a money order or prepaid card as an intermediate step
If you cannot transfer the card directly and do not want to sell it at a loss, you can use the gift card to buy a money order at a grocery store, pharmacy, or post office, then deposit the money order into your bank account. This works for any gift card, but it costs $1 to $3 per money order and takes longer than a direct transfer or resale.
Another option is to buy a prepaid card (like Green Dot or NetSpend) using the gift card, then transfer the prepaid card balance to your bank account. Prepaid cards usually charge a monthly fee ($5 to $10) and a fee to transfer money out, so this method is expensive and should be a last resort.
Both of these routes are slower and cost more than selling the card to a reseller. Use them only if the card is nearly expired, if the reseller will not accept it, or if you need the money in your account and have no other option.
Why store gift cards cannot transfer directly to a bank
Target, Walmart, Best Buy, and other store-specific gift cards are not connected to the banking system the way Visa and Mastercard cards are. They are closed-loop cards, meaning they can only be spent at that store or its partners. The store does not have a mechanism to send the balance to an external bank account.
Your only options for store gift cards are to spend them at the store, sell them to a reseller, or use them to buy a money order. If you want to convert the card to cash or bank deposit, selling to a reseller is almost always the fastest and most straightforward path, even though you lose a percentage of the value.
Protecting yourself from gift card scams
Scammers target people selling gift cards. They may contact you on a reseller site, in a text, or through email claiming they want to buy your card at a premium price. They will ask you to send a photo of the card number and PIN, or to read the code aloud on a video call. If you do, they steal the balance before the reseller can process it, and you lose both the card and the money.
Never share a gift card code, PIN, or photo with anyone who contacts you first. Only use established resellers like CardCash, Raise, or Decluttr, and only enter the card information on their official websites — not on links sent to you by email or text. If a reseller asks you to pay a fee upfront to sell a card, it is a scam; legitimate resellers never charge sellers.
If you sell a card and the reseller later claims it was fraudulent and reverses the payment, you have limited recourse. Check the reseller's dispute policy before you sell. Some offer a may provide period (usually 30 days) during which they will pay you again if the card is later flagged; others do not.
Frequently Asked Questions
How long does it take to get money from a gift card reseller?
Bank transfers usually take one to five business days. Checks take one to two weeks. PayPal transfers are often faster, sometimes same-day. The reseller may also hold your payment for a week or two after purchase to verify the card was not stolen. Check the reseller's terms before you sell.
Can I deposit a gift card directly into my bank account like a check?
No. Gift cards are not checks and cannot be deposited through mobile check deposit or at a teller. You must first convert the card to cash, a money order, or a bank transfer using one of the methods described above.
What happens if a gift card reseller says the card is invalid?
The reseller will reject it and return the card information to you. Try a different reseller, or use the card to buy a money order instead. If the card truly has no balance, you have lost the money and cannot recover it.
Do I have to pay taxes on gift card money I deposit into my bank?
No. A gift card is a prepaid purchase, not income. Depositing the money into your bank account does not create a tax event. However, if you sell a gift card for more than you paid for it, the profit may be taxable; this is rare and usually only happens with collectible or limited-edition cards.
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 account directly. The other person would need to use the card themselves, or you would need to sell the card and give them the cash.