You can transfer gift card money to your bank account, but the method depends on what kind of gift card you have

Not all gift cards can go directly into a bank account. A Visa or Mastercard gift card issued by a bank can be linked to your account like a debit card, or you can use it to pay bills online. A store gift card (Target, Amazon, Best Buy) cannot be deposited directly—you have to spend it at that retailer or sell it. A PayPal or Square Cash gift card can sometimes be transferred to a linked bank account, depending on the card issuer's rules.

The fastest route is a bank-issued gift card: link it to your online banking, use it to pay a bill, or withdraw cash at an ATM. Store gift cards require a workaround: you can buy something you need and return it for a refund to your bank account, or use a gift card resale site (though you will receive less than face value). The key is knowing which type you hold before you try to move the money.

Key Takeaways

  • Bank-issued Visa and Mastercard gift cards can be linked to your bank account online or used to pay bills directly from your bank's website.
  • Store gift cards cannot be deposited into a bank account; you must spend them at that store or sell them on a resale platform.
  • Withdrawing cash from an ATM using a bank gift card is possible if the card has a PIN, though some ATMs charge a fee.
  • Selling a gift card on a resale site like CardCash or Raise will give you cash, but you will receive 70 to 95 percent of the card's face value.
  • Buying something returnable and requesting a refund to your bank account is a slower but fee-free way to convert store credit into bank funds.

How bank-issued gift cards work with your bank account

A Visa or Mastercard gift card issued by a bank (or by your own bank) is treated like a prepaid debit card. You can link it to your online banking portal the same way you would link an external account, using the card number and expiration date. Once linked, you can transfer the remaining balance to your checking or savings account, though not all banks allow this—call your bank's customer service line to ask whether they support gift card transfers.

If your bank does not allow direct transfers, you can use the gift card to pay bills through your bank's bill pay system. Log into online banking, set up a one-time payment to any creditor (utility, credit card, loan), and use the gift card as the payment method. The money leaves the gift card and goes to your bill, freeing up your regular bank funds. You can also withdraw cash at an ATM if the gift card has a PIN, though some ATMs charge a $2 to $3 fee for out-of-network withdrawals.

Why store gift cards cannot be deposited directly

A Target, Amazon, or Best Buy gift card is store credit, not a bank card. The retailer holds the money in their system, not in a bank account you can access. There is no way to move that credit directly into your bank account because the retailer does not have a mechanism to send money to external accounts—they can only let you spend it in their store or online.

This is a deliberate design: retailers want you to spend the full balance with them, not cash it out. If you try to deposit a store gift card at an ATM or bank, the transaction will be rejected. The only paths forward are to spend the card at that retailer, sell it to someone else, or use a resale platform.

Selling a gift card for cash on resale platforms

If you do not want to spend the gift card at its original retailer, you can sell it on a gift card resale site. The largest platforms are CardCash, Raise, and Decluttr. You list the card, a buyer purchases it, and the site sends you cash via bank transfer, PayPal, or check. The process usually takes 3 to 7 business days from the time a buyer claims your card.

The trade-off is that you will not receive the full face value. Most resale sites pay 70 to 95 percent of what the card is worth, depending on the retailer and current demand. A $100 Amazon gift card might sell for $92 to $98; a $100 store gift card for a less popular retailer might sell for $70 to $80. The site takes a commission, and buyers expect a discount. If you need the money quickly and do not mind losing 5 to 30 percent, this is the fastest route to cash.

Converting store credit by buying and returning items

Another option is to buy something returnable with the store gift card, then return it and request a refund to your bank account. This works at most major retailers: buy an item you know the store will accept back (clothing, electronics, household goods), keep the receipt, and return it within the return window. When you return it, tell the cashier you want the refund on your debit card or bank account, not back to the gift card.

The downside is that this takes time and requires finding something worth buying. You also risk the store refusing the return if the item is damaged or outside the return window. Some retailers will only refund to the original payment method (the gift card), so ask before you buy. This method is free and gives you 100 percent of the card's value, but it is slower than selling the card outright.

PayPal and digital wallet gift cards

A PayPal gift card or a gift card loaded onto a digital wallet (Apple Pay, Google Pay, Square Cash) can sometimes be transferred to a linked bank account. PayPal gift cards can be added to your PayPal account balance, and from there you can transfer the money to your bank account—though PayPal charges a fee (usually $0.25 to $2, depending on the transfer method and speed). Check your specific card's terms, because some third-party gift cards have restrictions on transfers.

Digital wallet gift cards work the same way: add the card to your wallet, then transfer the balance to your linked bank account if the issuer allows it. Not all issuers permit this, so read the card's terms or contact customer service before assuming you can move the money.

Fees and timing to expect

Bank transfers from a linked gift card account usually take 1 to 3 business days and are free. ATM cash withdrawals are instant but may carry a $2 to $3 fee if the ATM is out of network. Resale platforms take 3 to 7 business days and charge a commission (the buyer pays less than face value). PayPal transfers to your bank account take 1 to 3 business days for standard transfers, or up to 30 minutes for instant transfers, which cost $0.25 to $2.

Buying and returning an item is free but takes the longest—usually 5 to 10 business days if you return it immediately. If you are in a hurry, a bank-issued gift card linked to your account or an ATM withdrawal is fastest. If you want the most money, buy and return an item. If you want simplicity and do not mind losing a small percentage, a resale platform is the middle ground.

Frequently Asked Questions

Can I deposit a gift card directly at my bank's ATM?

No. ATMs only accept cash deposits and checks, not gift cards. You can withdraw cash from a bank-issued gift card at an ATM if it has a PIN, but you cannot deposit a store gift card. For store cards, you must spend them, sell them, or use the buy-and-return method.

What happens if I try to transfer a store gift card to my bank account?

The transfer will fail. Store gift cards are not linked to any bank account—they are retailer credit only. Your bank has no way to access that money. You will need to spend the card at the retailer, sell it on a resale platform, or buy something returnable and request a refund to your bank account.

Do I lose money when I sell a gift card?

Yes, usually 5 to 30 percent depending on the retailer and platform. A $100 gift card might sell for $70 to $95. The resale site and buyer both take a cut. If you need cash quickly and do not mind the loss, it is worth it. If you can wait or spend the card yourself, you keep 100 percent of the value.

Can I use a gift card to pay my credit card bill?

Yes, if it is a bank-issued Visa or Mastercard gift card. Log into your credit card's online portal, set up a bill payment, and use the gift card number as the payment method. This moves money from the gift card to your credit card bill. Store gift cards cannot be used this way.

How long does it take to get money from a gift card resale site?

Usually 3 to 7 business days from the time a buyer claims your card. The site verifies the card balance, the buyer pays, and then the site sends you the funds via bank transfer, PayPal, or check. Some platforms offer faster payouts for a small fee.