The direct ways to move gift card money to your bank
You can move money from a gift card to your bank account in three main ways: sell the card for cash through a resale platform, transfer the balance to a linked payment app, or use the card to buy something you'd buy anyway, then return it for a refund to your bank account. Not every gift card works with every method, and the amount you receive may be less than the card's face value.
The fastest route is usually a payment app like PayPal or Square Cash if the card issuer supports direct transfers. The most reliable route is selling through a resale marketplace, though you'll typically receive 70 to 95 percent of the card's value depending on the card type and current demand. The return-and-refund method works only if you have a receipt and the retailer accepts returns to the original payment method.
Key Takeaways
- Payment apps like PayPal and Venmo let you link a gift card and transfer its balance directly to your bank account if the card issuer supports it, usually within one to three business days.
- Resale platforms like Raise and CardCash buy gift cards at a discount (typically 70 to 95 percent of face value) and deposit cash to your bank account, though the process takes several days for verification.
- If you have the original receipt, you can use the gift card to purchase an item and return it for a refund to your bank account, but this only works if the retailer accepts returns to the original payment method.
- Peer-to-peer payment apps like Cash App and Venmo do not accept gift cards directly, so you must use a resale platform or payment app that explicitly supports gift card linking.
- Some gift cards charge inactivity fees or have expiration dates, so check the card's terms before deciding which conversion method to use.
Linking a gift card to PayPal or similar payment apps
PayPal, Google Pay, and Apple Pay allow you to add a gift card as a payment method, and some let you transfer the full balance to your bank account. The process varies by card issuer and app. Start by opening the payment app, selecting the option to add a card or payment method, and entering the gift card number, expiration date, and CVV (the three-digit security code on the back).
Once the card is linked, look for a "transfer" or "send money" option. If the app supports direct transfer for that card type, you'll see a prompt to move the balance to your linked bank account. The transfer typically completes within one to three business days. If no transfer option appears, the card issuer does not support this method through that app, and you'll need to try a different approach.
Not all gift cards work this way. Visa and Mastercard gift cards are more likely to support transfers than store-specific cards like Target or Amazon gift cards. Check the card's terms or contact the issuer's customer service to confirm whether direct transfer is an option before you spend time linking it.
Selling the gift card through a resale marketplace
Platforms like Raise, CardCash, and Decluttr buy gift cards directly from you and deposit cash to your bank account. The process is straightforward: create an account, enter the gift card details (number, PIN, balance), and the platform makes an offer based on current demand for that card type. You accept the offer, and the platform deposits the payment to your bank account once it verifies the card is valid.
Payouts typically arrive within three to five business days after verification, though some platforms offer faster payouts for a small fee. The amount you receive is usually 70 to 95 percent of the card's face value. High-demand cards like Amazon or Visa gift cards sell closer to face value, while niche or regional cards may sell for significantly less. Check the current offer before you commit, because rates change based on supply and demand.
The main trade-off is that you lose a percentage of the card's value. If the card is worth $100 and the platform offers 80 percent, you receive $80. However, if you have no other way to access the money and the card would otherwise sit unused, this is often the fastest and most reliable option.
Using the gift card to buy and return for a bank refund
If you have the original receipt for the gift card purchase, you can use the card to buy something at the retailer, then return the item and request a refund to your original payment method (your bank account). This works only if the retailer accepts returns to the original payment method and you have proof of purchase.
The catch is that you must buy something you actually need or want, because you're using your own money to complete the transaction. For example, if you have a $50 Target gift card and a receipt showing you bought it with your debit card, you could buy a $50 item at Target, return it with the receipt, and request the refund go back to your bank account instead of the gift card. The refund typically posts within five to ten business days.
This method only works if you have the original receipt and the retailer's return policy allows refunds to the original payment method. Many retailers now restrict refunds to store credit or the original payment method only if the return is within a certain window. Call the retailer or check their return policy online before attempting this approach.
What to watch for: fees, expiration dates, and card restrictions
Before you convert a gift card, check whether it has an expiration date, inactivity fees, or restrictions on how it can be used. Some gift cards expire after a set period (often three to five years), and some charge monthly fees if the balance isn't used. These details are usually printed on the back of the card or available on the issuer's website.
Store-specific gift cards (Target, Walmart, Amazon) are harder to convert than Visa or Mastercard gift cards because fewer platforms accept them and payment apps may not support direct transfers. Visa and Mastercard gift cards are treated like regular debit cards and work with most resale platforms and payment apps.
If the card has a low balance (under $5 to $10), resale platforms may not accept it because the payout would be too small to justify their processing costs. In that case, your best option is to use the card to make a small purchase at the retailer or link it to a payment app and spend it gradually.
Comparing the three methods side by side
| Method | Speed | Payout | Best for | Drawbacks |
|---|---|---|---|---|
| Payment app transfer | 1–3 business days | 100% of balance | Visa/Mastercard gift cards you want to convert quickly | Not all card issuers support it; store cards rarely work |
| Resale marketplace | 3–5 business days | 70–95% of balance | Any gift card type; highest reliability | You lose 5–30% of the card's value |
| Buy and return | 5–10 business days | 100% of balance | Store-specific cards when you need to buy something anyway | Requires original receipt; only works if retailer allows it |
Frequently Asked Questions
Can I transfer a store gift card like Amazon or Target to my bank account?
Not directly through a payment app. Amazon and Target gift cards don't support transfers to bank accounts. Your options are to sell the card through a resale platform like Raise or CardCash (you'll receive 70–90% of the value), or use the card to buy something and return it with the original receipt for a refund to your bank account.
What happens if I sell a gift card and it gets declined?
Resale platforms verify the card before they pay you, so if the card is declined during verification, they'll reject it and you keep the card. If the card is verified and later declines (because it was already used or the balance was wrong), most platforms offer a may provide period where you can report the issue and get your money back. Check the platform's may provide terms before you sell.
Do I have to pay taxes on money I get from selling a gift card?
Generally, no. Selling a gift card for cash is not considered income because you're converting an asset you already own, not earning money. However, if you sell a large number of gift cards regularly as a business, the IRS may consider it taxable income. For occasional personal sales, you don't owe taxes.
How long does it take to get the money in my bank account?
It depends on the method. Payment app transfers usually take one to three business days. Resale platforms typically take three to five business days after verification. Buy-and-return refunds take five to ten business days. The slowest part is usually your bank processing the incoming transfer, not the platform sending it.
Can I use a gift card to load money into a prepaid card or savings account?
Some prepaid card apps and savings apps let you link a gift card as a funding source, but most don't allow direct transfers from gift cards to bank accounts through this method. Your best bet is to use a resale platform or payment app that explicitly supports gift card transfers, rather than trying to route the money through a prepaid card first.