You cannot add a gift card directly to a bank account, but you can convert it to cash or spend it online
A gift card is not money in a bank account — it is a stored balance with a specific retailer or payment network. Your bank will not let you deposit it the way you would a check or cash. Instead, you have three real paths: spend the card where it is accepted, convert it to cash through a reseller or your bank, or transfer the balance to a payment app that links to your bank account.
The method you choose depends on what you want to do with the money. If you want to use it at the retailer that issued it, you simply use the card at checkout. If you want cash or want to spend it anywhere, you will need to sell it, transfer it, or use a workaround — and each has different timelines and fees.
Key Takeaways
- Gift cards cannot be deposited into a bank account directly; they remain separate payment instruments tied to a specific retailer or network.
- You can spend a gift card at the retailer or online store that issued it without any conversion step.
- To convert a gift card to cash, you can sell it to a reseller, use your bank's gift card exchange service if available, or trade it for store credit elsewhere.
- Some payment apps like PayPal or Square Cash let you link a gift card and then transfer the balance to your bank account, though this usually takes one to three business days.
- Gift card resellers typically pay 70 to 95 percent of the card's face value, depending on the retailer and current demand.
Spending the gift card at the original retailer
The simplest option is to use the card where it was issued. If the card is a Visa or Mastercard gift card, you can use it anywhere those networks are accepted — online, in stores, or by phone. If it is a store-specific card (Target, Amazon, Starbucks), you can only spend it at that retailer or its affiliated locations.
To use the card, treat it like a debit card at checkout. Online, enter the card number, expiration date, and CVV in the payment field. In a store, insert it into the chip reader or swipe it. Some retailers require you to register the card on their website first, especially for online purchases. Check the back of the card or the retailer's website for registration instructions.
This method has no fees and no waiting time. The balance is spent immediately, and you do not need to involve your bank account at all.
Selling the gift card to a reseller for cash
If you want cash instead of store credit, you can sell the card to a gift card reseller. These companies buy unused cards at a discount and resell them. Common resellers include Raise, CardCash, and Decluttr. Each has slightly different payout rates and timelines.
To sell a card, you list it on the reseller's website or app, enter the card number and PIN, and set your asking price. Resellers typically suggest a price based on current demand — popular retailers like Amazon or Target may fetch 90 to 95 percent of face value, while less common retailers might be 70 to 80 percent. Once a buyer purchases your listing, the reseller sends you payment via bank transfer, PayPal, or check, usually within one to five business days.
The catch is that you lose money on the sale. A $100 gift card might net you $85 to $95 depending on the retailer and how quickly you want to sell. If you are in a hurry, you may accept a lower price. Some resellers also charge a small fee to list the card.
Using your bank's gift card exchange program
Some banks offer gift card exchange services that let you trade a card for cash or store credit. This is less common than it was five years ago, but it still exists at certain institutions. Call your bank's customer service line and ask whether they offer a gift card exchange or redemption program.
If your bank does offer this service, the process is usually simple: you bring the card into a branch or mail it to the bank, and they credit your account with the cash value. Some banks charge a small fee (typically $1 to $5) to process the exchange. The timeline varies — some banks credit your account the same day, while others take one to three business days.
Not all banks participate in these programs, and those that do may limit which retailers they accept. Ask specifically which cards your bank will exchange before you count on this option.
Linking a gift card to a payment app
Payment apps like PayPal, Square Cash, and Google Pay let you add a gift card as a payment method. Once linked, you can use the app to spend the balance anywhere the app is accepted. Some apps also let you transfer the remaining balance to your linked bank account, though this is not always available and may take one to three business days.
To link a gift card to an app, open the app, go to your payment methods or wallet, and select "Add card." Enter the card number, expiration date, and CVV. The app will verify the card and show the available balance. You can then spend it through the app or, if the app supports it, request a transfer to your bank account.
This method works best if you already use the payment app for other transactions. If you are adding an app just to convert one gift card, the setup time may not be worth it. Also, not all apps support balance transfers to bank accounts — check the app's help section first.
What happens if the gift card has a low balance
Gift cards with small remaining balances (under $5 or $10) are often not worth selling to a reseller because the payout will be minimal after fees. In these cases, your best option is to spend the card at the original retailer, combine it with another payment method at checkout, or use it through a payment app if you have one linked.
Many retailers let you use a gift card for part of a purchase and pay the rest with another card. If the card has $3 left and you are buying a $20 item, you can use the gift card for $3 and pay $17 with your debit card or credit card. This is the fastest way to clear out a low-balance card without losing money to reseller fees.
Avoiding scams when selling gift cards
When you sell a gift card online, you are sending the card number and PIN to a third party. Use only established resellers with clear refund policies and customer reviews. Raise, CardCash, and Decluttr are widely used and have buyer protection. Avoid unknown websites or sellers who ask you to send the card details via email or text.
Before you list a card, check whether it has already been used or has any balance remaining. Some resellers will reject cards with missing PINs or cards that have been partially spent. If a reseller rejects your card, they should return it to you or credit your account — read their policy before you submit.
Never sell a gift card to someone in person unless you can verify the payment immediately. Scammers sometimes buy gift cards, take a photo of the number, and then claim the card was never received or was already used.
Frequently Asked Questions
Can I deposit a gift card into my checking account?
No. Gift cards are not bank deposits and cannot be added to a checking account directly. You can only spend the card at the retailer, sell it to a reseller, or transfer the balance through a payment app if that app supports transfers to your bank account.
What if the gift card has an expiration date?
Federal law requires most gift cards to be valid for at least five years from the date of purchase or the date the balance was last loaded. Check the card's terms for the exact expiration date. If the card has expired, contact the retailer's customer service — many will still honor expired cards or issue a replacement.
Can I use a gift card to pay off a credit card bill?
Not directly. Credit card companies do not accept gift cards as payment. You would need to convert the gift card to cash first (through a reseller or bank exchange) and then use that cash or bank transfer to pay your bill. Alternatively, spend the gift card on everyday purchases and use the money you save to pay your credit card.
How long does it take to get cash from selling a gift card?
Most resellers send payment within one to five business days of a buyer purchasing your card. Bank transfers are usually faster than checks. Some resellers offer instant payout options for a lower price, which credit your account within hours.
What if my gift card was lost or stolen?
Contact the retailer or card issuer immediately with your receipt or proof of purchase. Most retailers will cancel the card and issue a replacement if you can prove you owned it. Do not try to sell a card you did not receive — resellers verify card balances before payment, and you could face fraud charges.