Direct transfers from Mastercard gift cards to bank accounts are not possible

Mastercard gift cards are not connected to a bank account the way a debit card is. You cannot transfer the balance directly to your checking or savings account through any official Mastercard process. The card itself holds the funds, and those funds stay on the card until you spend them or exhaust other options.

What you can do instead depends on the card type and what the issuer allows. Some Mastercard gift cards let you add the card to a digital wallet and then send money peer-to-peer. Others can be used to pay bills online or in person. A few issuers offer cash withdrawal at ATMs, though fees apply. The most reliable workaround is to use the card to buy something you would buy anyway, then return it for a refund to your bank account — but this only works if the merchant accepts returns.

Key Takeaways

  • Mastercard gift cards cannot be transferred directly to a bank account through any official channel.
  • Some gift card issuers allow ATM cash withdrawals, but these typically charge a fee per withdrawal.
  • Adding the card to Apple Pay, Google Pay, or Samsung Pay lets you send money to another person's bank account through their peer-to-peer app, though the recipient receives it as a transfer, not a direct deposit.
  • Using the card to purchase an item and then returning it for a refund to your bank account works only if the merchant processes refunds to the original payment method.
  • Selling the gift card on a resale platform like CardCash or Raise converts it to cash, but you receive less than the card's face value.

ATM withdrawals and cash-out fees

Many Mastercard gift cards allow you to withdraw cash at an ATM, but the issuer charges a fee for each withdrawal. The fee varies by card and issuer — some charge $2 to $3 per transaction, while others charge more. You will also pay your own bank's out-of-network ATM fee if you use an ATM that does not belong to your bank.

To learn about your card allows ATM withdrawals, check the back of the card or the issuer's website. The card's terms document (usually included in the packaging or available online) will list the ATM fee. If the card has a low balance and the fee is high, withdrawing cash may cost you more than it makes sense to spend.

Once you withdraw cash, you can deposit it into your bank account at a branch, ATM, or through mobile deposit if your bank offers it. This is the most direct path to moving the money, but fees eat into what you actually receive.

Using digital wallets to send money peer-to-peer

If you add your Mastercard gift card to Apple Pay, Google Pay, or Samsung Pay, you can use it to send money to another person through that wallet's peer-to-peer feature. The recipient receives the transfer in their bank account (or wallet), and the funds come from your gift card balance.

This works if you have someone you trust — a family member, friend, or partner — who can receive the transfer and then send the money back to you in your own bank account. It adds an extra step and requires trust, but it avoids ATM fees. The peer-to-peer transfer itself is usually free, though some apps charge a small fee for instant transfers.

To do this, open your digital wallet app, select the send money or request money feature, enter the recipient's contact information, and specify the amount. The app will draw from the Mastercard gift card you added. The recipient then sees the transfer in their account and can send it to you through their own bank transfer or Venmo.

Purchasing items and requesting refunds to your bank account

If you use the Mastercard gift card to buy something online or in a store, and then return the item, the merchant may refund the money to your original payment method. If the original payment method is your bank account (because the card was linked to it), the refund goes there. If the original payment method is the gift card itself, the refund goes back to the card.

This only works if the merchant accepts returns and processes refunds to the original payment method. Many online retailers do this automatically. In-store returns vary by policy. You will need to keep the receipt and return the item within the return window, which is typically 30 to 90 days depending on the store.

The catch is that you have to actually buy something. If you purchase an item you do not need just to move the money, you are wasting time and possibly paying sales tax. This method works best if you were planning to buy something anyway and can use the gift card for that purchase.

Selling the gift card on a resale platform

Websites like CardCash, Raise, and Decluttr buy unused gift cards from people and resell them. You can list your Mastercard gift card on these platforms, and if someone buys it, you receive payment to your bank account or PayPal account.

The trade-off is that you will not receive the full face value. Resale platforms typically pay 70 to 95 percent of the card's value, depending on demand and the card's condition. A $100 gift card might sell for $85 to $95. The platform takes a cut, and the buyer expects a discount. The payment to you is usually processed within a few business days after the sale.

To sell, you will need to provide the card number, expiration date, and security code to the platform. Make sure you use a reputable site with buyer protection and clear terms. Read reviews before listing, and check whether the platform charges any seller fees.

What does not work: third-party transfer services

Some websites and apps claim they can transfer gift card balances to your bank account instantly. Most of these are scams or charge extremely high fees that make the transfer not worth it. Legitimate payment processors do not offer this service because gift cards are not designed to be transferred that way.

If a service asks you to provide your gift card number and promises instant cash to your bank account, do not use it. Scammers use these sites to steal gift card information. Even if the site looks professional, the risk is too high.

Stick to the methods listed above: ATM withdrawals, peer-to-peer transfers through digital wallets, returns for refunds, or resale platforms. These are the actual options available to you.

Frequently Asked Questions

Can I transfer a Mastercard gift card balance to another Mastercard?

No. Mastercard does not allow balance transfers between gift cards. The funds are locked to the specific card. You can only spend the balance on that card or use one of the workarounds described above to move the money elsewhere.

What if my gift card has a small balance left on it?

If the balance is very small (under $5), ATM fees and resale discounts may cost you more than the remaining value. Your best option is to spend it on something small — a coffee, a snack, or a digital purchase — rather than trying to extract the cash.

Do I have to pay taxes on the money I receive from selling a gift card?

Generally, no. You are selling an asset you already own at a loss (since you receive less than face value). The IRS does not treat this as income. However, if you are selling many gift cards as a business, tax rules may differ. Consult a tax professional if you are doing this regularly.

Can I use the gift card to pay a bill and have the payment come from my bank account instead?

No. When you use the gift card to pay a bill, the payment comes from the card's balance, not your bank account. The bill issuer does not know or care which payment method you used — they only see that the bill was paid.

What if the gift card issuer has gone out of business?

If the company that issued the card no longer exists, you may not be able to use the card or withdraw cash. Contact Mastercard directly to learn about the card can still be accessed. If not, you may have limited options, and the balance could be lost. This is rare, but it is why it is best to use gift cards sooner rather than later.