Transferring Walmart Gift Card Money to Your Bank Account: A Definitive Guide

The burning question: Can you directly transfer funds from a Walmart gift card to your bank account? The straightforward answer is no, not directly. Walmart gift cards are designed for purchases within Walmart stores and online at Walmart.com. They aren’t linked to the banking system and lack the infrastructure for direct transfers. However, that doesn’t mean your gift card is useless. There are definitely workarounds and alternative strategies to effectively convert that Walmart gift card value into cash you can deposit in your bank account. Let’s dive into the specifics.

Understanding the Limitations

Before exploring options, it’s crucial to understand why a direct transfer isn’t possible. Walmart gift cards are essentially closed-loop systems. They operate within Walmart’s ecosystem, much like gift cards from other retailers like Target or Amazon. These gift cards lack the functionalities of open-loop cards such as Visa or Mastercard gift cards, which can often be used more broadly and sometimes directly linked to payment platforms. A Walmart gift card has no associated PIN for ATM withdrawals or electronic transfers outside of Walmart. Therefore, you need to find creative solutions.

Strategies for Converting Your Gift Card to Cash

While a direct transfer is impossible, these methods can effectively achieve the same result:

1. The Reselling Option: Gift Card Exchange Platforms

Numerous online platforms specialize in buying and selling gift cards. These platforms act as intermediaries, connecting people who want to sell their gift cards with those looking to purchase them at a discount. Popular options include:

• Raise: This is one of the best-known platforms. You list your gift card, set your selling price (usually lower than the card’s face value), and when it sells, Raise takes a commission.
• CardCash: CardCash offers instant offers, allowing you to sell your gift card immediately at a predetermined price.
• Gift Card Granny: This site aggregates offers from multiple buyers, helping you find the best price for your card.

How it Works:

1. Visit the chosen platform.
2. Enter the gift card details (value, type, etc.).
3. Receive an offer (or set your own selling price).
4. If you accept, you’ll need to provide the gift card number and PIN (if applicable).
5. The platform verifies the card’s validity.
6. Once verified, you’ll receive payment via PayPal, direct deposit, or check, depending on the platform’s options.

Important Considerations: You won’t receive the full face value of the card. The discount varies depending on the card’s popularity and market demand. Expect to receive anywhere from 70% to 90% of the card’s value. Also, carefully review the platform’s terms and conditions, including fees and payment schedules. Scrutinize the reputation of the platform through reviews before entrusting them with your gift card information.

2. Selling to Friends or Family

This is often the simplest and most reliable option. Offer your Walmart gift card to friends or family members who regularly shop at Walmart. You can sell it to them at a slight discount (e.g., 5-10% off the face value). This allows them to save money, and you get cash quickly without dealing with online platforms.

How it Works:

1. Identify potential buyers among your social circle.
2. Offer the card at a discounted rate.
3. Once they agree, exchange the card for cash.

Important Considerations: This method relies on having someone in your network who needs a Walmart gift card. It also might require some negotiation on price.

3. Using the Gift Card to Purchase Items for Resale

While it requires more effort, you can use the Walmart gift card to purchase in-demand items at Walmart and then resell those items online (e.g., on eBay, Facebook Marketplace, or Craigslist). This can potentially yield a higher return than selling the gift card directly, but it also involves risk and effort.

How it Works:

1. Research products that are selling well online and are available at Walmart.
2. Use the gift card to purchase these items.
3. List the items for sale on your chosen platform.
4. Handle shipping and customer service.

Important Considerations: This strategy requires market research, time, and effort. There’s also the risk of not being able to sell the items at a profit, or at all. Factor in shipping costs and platform fees when calculating potential profits.

4. Gifting to Someone Who Can Use It

If none of the above options appeal to you, consider simply gifting the Walmart gift card to someone who would genuinely appreciate it. This might be a more rewarding alternative than selling it at a discount.

How it Works:

1. Identify someone who regularly shops at Walmart and could benefit from the gift card.
2. Give them the gift card!

Important Considerations: This option doesn’t provide you with cash, but it can be a thoughtful gesture and eliminate the hassle of trying to convert the card.

Choosing the Right Method

The best approach depends on your individual circumstances and priorities.

• Speed: Selling to friends/family or using a platform with instant offers (like CardCash) is the fastest way to get cash.
• Maximizing Value: Reselling items purchased with the gift card could yield the highest return, but it’s also the riskiest and most time-consuming.
• Convenience: Using a gift card exchange platform is relatively convenient, but you’ll sacrifice some of the card’s value.

Frequently Asked Questions (FAQs)

1. Can I add my Walmart gift card to my Walmart Pay account and then withdraw the money?

No. Walmart Pay allows you to make purchases, but it doesn’t offer a withdrawal feature. The gift card balance remains within the Walmart ecosystem.

2. Are there apps that allow me to transfer Walmart gift card balances to my bank account?

No legitimate apps exist for directly transferring Walmart gift card balances to a bank account. Any app claiming to do so should be treated with extreme caution, as it could be a scam. Stick to established platforms for selling or exchanging your gift card.

3. What are the fees associated with selling a Walmart gift card on a gift card exchange platform?

Fees vary depending on the platform. Typically, they charge a commission on the sale price, ranging from 5% to 15%. Some platforms may also have listing fees or withdrawal fees. Always review the fee structure before listing your card.

4. How long does it take to receive payment after selling my Walmart gift card?

The payment timeframe also varies. Some platforms like CardCash offer instant payments. Others may take a few days to a week to process and send payment via PayPal, direct deposit, or check.

5. Is it safe to sell my Walmart gift card online?

Selling your gift card online involves some risk, particularly with less reputable platforms. To minimize risk, use well-established platforms with positive reviews. Always be cautious when providing your gift card number and PIN. Secure your account with a strong password and enable two-factor authentication if available.

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

No, you cannot directly use a Walmart gift card to pay your Walmart credit card bill. The gift card is only for purchasing goods and services at Walmart.

7. What happens if my Walmart gift card is lost or stolen?

Treat a Walmart gift card like cash. If it’s lost or stolen, it’s unlikely you’ll be able to recover the funds, especially if it wasn’t registered. Contact Walmart customer service immediately to report the loss, but recovery is not guaranteed.

8. Can I use a Walmart gift card to buy another gift card (like a Visa gift card) and then cash that out?

Generally, Walmart does not allow you to purchase other gift cards using a Walmart gift card. This prevents money laundering and fraud.

9. What if I have a partial balance left on my Walmart gift card?

You can still sell a gift card with a partial balance. The platform will verify the remaining balance and offer you a price accordingly.

10. Are there any alternatives to selling my gift card for cash?

Yes! Consider using the gift card to purchase essential items you would normally buy anyway (groceries, household goods) at Walmart. This frees up cash in your budget. You can also donate the gift card to a charity.

11. Can I return items purchased with a Walmart gift card for cash?

Walmart’s return policy generally allows for returns to be credited back to the original form of payment. If you used a gift card, you’ll likely receive store credit on a new gift card rather than cash. It is not a reliable method for obtaining cash from a gift card.

12. What should I do if I suspect fraud related to my Walmart gift card?

If you believe your gift card has been compromised or used fraudulently, contact Walmart customer service immediately. Report the incident to the Federal Trade Commission (FTC) as well.