In this article, I will show you how to transfer money from Visa gift card to bank account. Gift cards are a great way to give someone something they would like without the worry of them not liking it or not being able to use it. They are also a great way for people who want to save money on their purchases or just not carry cash around with them.
However, with all the different stores that offer gift cards, there is often one store that is more popular than the others and we often end up getting cards from stores we don’t shop at as much. This leaves us stuck with a bunch of gift cards we can’t use because they are for stores we don’t go to or if they are for stores we do shop at.
When you have a gift card, there are a few ways to use it. You can use the gift card to purchase items from the store or online. You can also use the gift card to purchase items from other stores that accept that specific type of gift card.
However, when it comes time to actually spend your money, you will need to find a way to deposit those funds into your bank account.
This article will cover how you can transfer money from gift cards into your bank account and what steps you need to take in order for this process to go smoothly.
5 Ways to Transfer Money From Visa Gift Card to Bank Account
The process of transferring money from a gift card to a bank account is not complicated. It is possible to do this through the internet or in person at the store where you purchased the card.
If you are transferring money from a gift card to your bank account on the internet, you can log onto your bank’s website and input your information there. You will need to input your debit card number, security code, and any other identification that may be required. You will also need to input what type of account you want the money deposited into as well as how much money you want to be transferred.
If you are doing this in person at the store where you bought the gift card, it may take a little longer but it is just as easy. Now, let’s start with the recommended ways to transfer money from Visa Gift Card to Bank account.
By Using MoneyGram
The first method involves using MoneyGram which is considered to be the second biggest corporation in the United States. MoneyGram is an affordable, reliable, quick, and safe service to use. Follow the steps mentioned below to use MoneyGram for transferring money from your gift card to your bank account.
- First of all, visit their official website at Moneygram.com
- After that start, the signup process, enter your email address, and choose a strong password.
- Now, after that verify your email account by following the on-screen instructions.
- After you’ve done that, open MoneyGram and then choose the Send Money option. Specify the amount of money that you want to send.
- Go with either the debit or credit card option. After that click on Account Deposit and then proceed with the Debit Card Deposit.
- Now, check if your visa gift card is linked to the bank account where you want to send money.
- Add the name and the address of the cardholder.
- Click on the Next button to proceed with the money transfer.
This is how you can use MoneyGram.
By Using Venmo
Now the second method involves using an app which is called Venmo. With the help of this app, you can transfer your visa gift card to your bank account easily. If you don’t know, Venmo is a similar app to PayPal which allows you to create a Venmo Account and place your card balance there.
Follow the steps below to use Venmo for the transfer:
- First of all download the Venmo app on your mobile phone
- Create a Venmo account for yourself by following the on-screen instructions.
- On the main page, locate the Add Gift Card option and then select it.
- Add your payment and bank details in the required fields and then click on the send button.
- After a while, your money transfer will be completed.
This is how you can easily transfer your gift card to your bank account by using Venmo.
By Using PayPal
The third method for placing your money from a visa gift card to your bank account involves using PayPal. In this method, you will have to utilize your PayPal account to transfer the balance to your personal bank account.
This can be done easily because PayPal allows its users to add prepaid cards to their wallets, which luckily include the Visa Gift Cards as well. So, all you need here is a Paypal account. Below is a step-by-step guide for a successful transfer using PayPal.
- First of all, go to PayPal’s official website and create an account if you don’t have one. If you already have an account then simply proceed with login.
- On the main screen, locate the wallet option, it will probably be at the top of the page. Click on it.
- Next up, you will spot a Link a Card or a Bank option located at the left side, select it.
- Now, Paypal will ask you a few questions including some information, and you will have to add your Visa Gift Card details. When you’re done click on the Link Card button to proceed with the transfer.
So these were the steps for transferring money in your bank account from Visa Gift Card by using PayPal.
By Buying a Money Order
In case, if the above-mentioned methods aren’t well suited for you, then you can also use your Visa Gift card to purchase a Money order. There are a lot of grocery stores as well as stores like Walmart that allow you to purchase money orders by using your Visa Gift Card.
But for that purpose, you will first have to check the availability of this option in your area. Once you are finished with the process, you can deposit the money order into your bank account directly to get some extra cash.
Sell Your Gift Card
The fifth method involves simply selling your Visa Gift Card for money. There are a lot of applications available on the internet that are willing to buy your Visa Gift Card from you. Why? Because after they are done buying from you they will probably resell it.
This is a quick and easy method to easily cash out your Visa Gift Card for money. You can use this method if the other ones are not suitable for you. However, keep in mind that the fees charged by these applications are quite high, so be prepared for that.