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How to Get Cash from a Visa Gift Card: The Ultimate Guide

So, you’ve got a Visa gift card and you’re thinking, “Great! I’ll just turn this into cash.” Hold on a second, it’s not always that straightforward. Unlike regular debit cards linked to your bank account, Visa gift cards are designed primarily for making purchases. However, all hope is not lost. While directly withdrawing cash from an ATM is a no-go, there are several clever and legitimate ways to transform that plastic into spendable currency. Let’s dive in!

The most direct method is usually through using the gift card to make purchases and then receiving cash back. This is commonly done at grocery stores or pharmacies. Also, you can sell the Visa gift card to a third-party or use it to buy items that can be easily sold for cash.

Unlocking the Cash in Your Visa Gift Card: Proven Methods

Let’s explore several strategies you can employ to get your hands on that sweet, sweet cash.

1. The Cash-Back at Checkout Strategy

This is probably the easiest and most convenient method, provided your local stores offer it. Many grocery stores, pharmacies, and even some big-box retailers allow you to get cash back when you make a purchase with a debit card. Here’s how to make it work with a Visa gift card:

Make a Small Purchase: Buy something inexpensive. A pack of gum, a soda – anything that justifies using your gift card at the register.
Request Cash Back: When the cashier asks how you’d like to pay, say you want to use your Visa gift card as debit and request cash back. Keep in mind there’s usually a limit to how much cash back you can request (typically $20-$100).
Confirm Debit and Enter PIN: The cashier will likely run the card as a debit card. You’ll need to have a PIN associated with your gift card for this to work. If you haven’t already, check the card issuer’s website (printed on the back of the card) to set up a PIN.
Enjoy Your Cash: The amount you requested will be deducted from the gift card balance, and you’ll walk away with the desired cash.

Pro Tip: Call the store ahead of time to confirm their cash-back policy and any associated fees.

2. The Peer-to-Peer Payment Platform Play

Several apps allow you to send and receive money, like PayPal, Venmo, Cash App, etc. While you usually need a bank account or debit card linked to your account, you can sometimes use a Visa gift card.

Link Your Card (If Possible): Check if the platform allows linking prepaid cards. Not all do, and some may charge a fee.
Send to a Trusted Friend/Family Member: Send the gift card balance to someone you trust.
They Withdraw the Cash: Have them withdraw the money to their bank account and then give you the cash.

Important Note: Be aware of any transaction fees associated with sending and receiving money on these platforms.

3. The Reselling Route: Trading Value

Another option is to sell your gift card to someone else for cash. This typically involves a slight loss of value but provides immediate funds.

Online Gift Card Resellers: Websites like Raise.com, CardCash, and GiftCardBin buy gift cards at a discounted rate. They offer a quick and convenient way to offload your card, but expect to receive less than the card’s face value.
Local Classifieds/Marketplace: Platforms like Craigslist or Facebook Marketplace allow you to sell directly to individuals. You might get a slightly better price than selling to an online reseller, but it requires more effort and involves meeting strangers (exercise caution!).
Pawn Shops: Some pawn shops may accept gift cards, but they will likely offer the lowest payout.

Caveat: Research the reseller carefully to ensure they are reputable and offer fair prices.

4. The “Buy and Sell” Method

This involves using your Visa gift card to purchase items that are easily resold for cash. The profit margin may not be huge, but it’s a viable option if you’re in a pinch.

Electronics: Consider buying popular electronics items like a discounted video game, or phone accessories that can be quickly resold online or at a pawn shop.
Giftable Items: Think about items that are in high demand, such as popular toys, limited-edition products, or things that are constantly sought-after.
Essential Goods: Purchase non-perishable goods (like cleaning supplies or toiletries) that you’d normally buy anyway and then sell them at a small discount to friends, family, or neighbors.

Critical Consideration: Ensure you can resell the item quickly and for a reasonable price to make this method worthwhile.

5. The Money Order Maneuver

While less common, some individuals have successfully used Visa gift cards to purchase money orders. This allows you to then cash the money order and obtain cash.

Check Retailer Policy: Confirm with the retailer (e.g., Walmart, Western Union) if they accept Visa gift cards for money order purchases. Policies vary and may change.
Purchase the Money Order: If accepted, use your Visa gift card to buy a money order for the desired amount.
Cash the Money Order: Take the money order to a bank or check-cashing service to cash it for the corresponding amount.

Important Note: Be aware of fees associated with purchasing and cashing money orders.

6. Add to Digital Wallet and Transfer to Bank Account (If Possible)

Some digital wallets (like PayPal or Google Pay) might allow you to add a Visa gift card and then transfer the balance to your linked bank account. This is a relatively uncommon feature, but it’s worth checking if the wallet you use supports it.

Add the Gift Card: Try adding the Visa gift card as a payment method in your digital wallet.
Transfer Funds: If the card is accepted, attempt to transfer the balance to your linked bank account.

Be Aware: Digital wallets often have security measures in place that may prevent this type of transaction.

Frequently Asked Questions (FAQs) About Cashing Out Visa Gift Cards

1. Can I withdraw cash directly from an ATM using a Visa gift card?

No, you cannot directly withdraw cash from an ATM using a Visa gift card. Visa gift cards are designed for point-of-sale transactions, not ATM withdrawals.

2. What is the best way to turn a Visa gift card into cash?

The easiest and most cost-effective way is usually to use the cash-back option at a store like a grocery store or pharmacy. Other options like selling the card or buying and reselling items may involve fees or losses.

3. Are there fees associated with cashing out a Visa gift card?

Yes, some methods may incur fees. Selling the card to a reseller will result in a loss of value. Using peer-to-peer payment platforms or purchasing money orders often comes with transaction fees.

4. Can I load a Visa gift card onto my bank account?

Generally, you cannot directly load a Visa gift card onto your bank account. However, you might be able to transfer funds through a digital wallet if that wallet accepts prepaid cards and allows transfers to bank accounts.

5. What happens if the Visa gift card doesn’t have a PIN?

You need a PIN to use the cash-back option at stores. Check the card issuer’s website (usually printed on the back of the card) to set up a PIN.

6. Is it safe to sell my Visa gift card online?

Selling gift cards online can be risky. Research the reseller thoroughly to ensure they are reputable. Look for reviews and check their rating with the Better Business Bureau.

7. Can I use a Visa gift card to pay my bills?

Yes, you can typically use a Visa gift card to pay bills online or over the phone, as long as the biller accepts Visa as a form of payment.

8. What if my Visa gift card has a very small balance left?

Use it for partial payment in combination with another payment method (cash or another card) to buy an item.

9. Are there any restrictions on what I can buy with a Visa gift card?

Generally, there are no major restrictions, unless the merchant specifically prohibits the use of prepaid cards. However, you might encounter issues using them for recurring subscriptions or hotel reservations.

10. Can I reload a Visa gift card?

Most Visa gift cards are not reloadable. They are designed for one-time use.

11. What should I do if my Visa gift card is lost or stolen?

Contact the card issuer immediately to report the loss or theft. They may be able to freeze the remaining balance and issue a replacement card (usually for a fee).

12. How can I check the balance on my Visa gift card?

You can check the balance online at the website printed on the back of the card or by calling the customer service number provided.

By carefully considering these methods and FAQs, you can unlock the cash potential of your Visa gift card and put that money to good use. Good luck!