Can you convert your gift cards into cash? If so, what are the best ways to do it? This piece offers insight into easily getting cash from your gift cards.
The holidays are here, and you may wonder how to get that sweet gift card cash. You’ve probably got many gift cards to online shops or even from popular brands and chains such as Home Depot, Plastiq, Sears, or Target. But how do you turn them into cash?
Well, converting gift cards into cash is a great way to put money in your pocket without doing any work. Everyone wants that! And while the thought of receiving gift cards is pleasant, the reality of spending them can be just as satisfying to your bank account.
If you’re having problems with how you can turn your gift cards into cash, worry not, for there are tons of ways to accomplish that. Read on to find out just what I mean.
Whether you earned your gift cards from popular survey sites or through cashback apps, you must find a way to redeem that cash. Here are easy ways to help you convert gift cards into cash.
One of the easiest ways to convert gift cards into cash is by selling them on a gift card exchange website or app. These platforms allow you to exchange unwanted or unused gift cards for cash without hassle. However, since most people on these websites are looking for deals, the price will be lower than what the merchant would pay for their gift cards.
These websites and apps usually act as a marketplace for buying and selling gift cards. They help connect people who wish to sell unused gift cards with those who want to buy them.
Selling your gift card for cash online is usually a simple process. Plus, it can be done right from your phone or computer. Some great websites to try out include Raise, ClipKard, and CardCash.
However, you should note that each of these platforms operates differently. For example, while CardCash only requires you to fill in the details of the card you wish to sell and the amount, ClipKard requires you to send the card to them through a prepaid USPS shipping label.
When it comes to selling gift cards via apps, it’s almost the same process. Some of these websites, like Rise, offer mobile apps to use on your devices. Here, all you need to do is download your app, use it to send the card, and choose your preferred mode of payment.
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Besides the online avenues for selling gift cards, some brick-and-mortar exchange options are known as gift card exchange kiosks. These are self-service points, mostly in grocery stores, where you can walk to and exchange your gift cards.
However, before you visit a gift card exchange kiosk, here are two things you should note:
Afterward, you can walk to the kiosk and follow the following steps to exchange your gift cards.
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This is undoubtedly one method that could help you earn easy cash from your gift cards. While it’s not an option you’ll find in every other store, some big stores, including Walmart, offer such services. You can also try your luck at Western Union or USPS outlets.
These money-mailing outlets allow you to pay for a money order via prepaid gift cards, such as the Vanilla Visa gift card. With the money order, you can easily cash it anytime or send it to someone as a gift.
You can cash your money order at a bank, credit union, check-cashing store, or even your local grocery store, as some allow such services. The only thing to note here is that some banks or retailers might include a fee for the service. Confirm with the outlet where you are cashing the money order before proceeding.
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This fourth method is the most basic one that almost all gift card owners follow. They use gift cards to shop, buy groceries, or even refill at gas stations. Yup, stop messing around and just use them for their intended purpose.
The good thing about many gift cards is that most of them are as easy to use as cash or credit cards. All you need to do is load the money you want onto the card and use it or gift it to someone who can easily use it, as stated above.
However, not all gift cards can be used anywhere. We have closed-loop cards, which you can only use at specific stores, and open-loop cards that can make purchases anywhere you see the brand logo. For instance, a Visa gift card can be used in any store that accepts Visa cards, while an Amazon gift card can only purchase items on Amazon.
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If you’re feeling especially ambitious and have time, you can even list your gift card for sale on eBay or Craigslist. These options can almost guarantee you more money than an app would.
However, this takes more time and effort than just snapping a photo of your gift card. For instance, you must take a clear picture of the gift card and include all the card’s details and description. This way, the interested party will have all the information they want to make the purchase decision.
If you have a pile of unwanted gift cards that you wish to exchange for cash online, eBay and Craiglist offer excellent platforms. They offer a large audience base for your cards, allowing you to get a better deal. Therefore, these might be your go-to options to pocket some extra cash.
With these e-commerce platforms, you can easily fetch the exact value of your gift card. However, selling it slightly lower might make it more attractive and sell fast.
You should note that the platforms will keep a percentage of your sales. If you want to get more money, don’t discount your cards too much.
Lastly, if you want to sell that gift card online on eBay, ensure you first read their selling policy and restrictions. This helps you understand whether your cards qualify to be sold on the platform.
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This might be the best way to exchange Visa gift cards for cash. Although the costs might be higher, reaching up to 10% of your card’s value is pretty easy.
So, how does it work? PayPal is one of the major online payment platforms that allows you to make purchases almost anywhere in the world. And it can be an excellent way to convert that unwanted gift card into cash. This is because it allows account holders to link their prepaid cards to their PayPal Wallet, including Visa gift cards.
As such, if you have a PayPal account, all you have to do is log in and follow the following steps:
Once you have made your purchase, you can use your gift card balance to purchase at stores and organizations that allow PayPal payments. And what’s a better way to make global purchases than with PayPal?
On the other hand, if you want to make purchases through PayPal and withdraw the gift card money, you can use a third-party platform like CardCash. The platform allows you to sell gift cards online in exchange for cash, payable via PayPal. All you need to do is visit their official site and follow the simple prompts to sell your gift card.
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This is another incredible option when looking for ways to exchange gift cards for cash. Venmo not only allows you to retrieve hard cash from your gift cards, but it is also easy and cheap.
Just like PayPal, Venmo allows you to link gift cards to your Venmo account, giving you easy access to the gift card balance. Unlike PayPal, Venmo allows you to transfer that balance into your bank account without incurring any cost. How sweet is that? Pretty flippin’ sweet.
The only thing you should avoid here is choosing the “Instant Transfer” option. This ensures that all your transfers are free.
If you don’t choose the Instant Option, you won’t have to wait forever for your money. It will arrive in your bank account in 1-3 business days.
The gift card exchange process is also pretty easy. If you have your Venmo app, follow these steps:
From here, you can now transfer the card’s balance to your bank account. If you face a money laundering restrictive message during the process, do not worry; contact customer care. They will certainly help.
See Related: Ways to Get Free American Eagle Gift Cards
Sometimes, the gift cards you have might not seem too valuable to you. However, if exchanged with other store gift cards, they can become quite useful.
For instance, you might have a Starbucks gift card that you’ll probably never use, especially if you are an anti-coffee person. However, if you exchange it, the same gift card can be used to shop at Amazon or Walmart.
Some sites allow you to trade your current gift cards with gift cards from other merchants. For example, CardRatings not only helps you to compare different cards but also enables you to choose a card of your liking. This way, you’ll have turned your unused gift card into a useful one you can purchase or pay bills with. A worthy trade and no mistake!
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Re-gifting is one of the easiest ways to convert gift cards into cash. It’s also a great way to eliminate unwanted gift cards hanging around your house, especially if you plan on getting new ones this year. True, you’re not converting the gift card into cash, but you’re saving cash on purchasing presents, which is the next best thing!
Re-gifting is a time-honored tradition that can be done for any occasion. Instead of getting yourself busy thinking of accessories or gift ideas to give to your family or friends, use gift cards like a money present. This can be done during birthdays or even the Christmas season, and it’s a great way to save money and give a gift that’s sure to be appreciated.
If you have friends who love shopping, converting those unwanted gift cards into something useful is easy. They might appreciate it more than you think.
Speaking of friends who love shopping… If you have unused gift cards, consider trading them with a friend or family member for something you can use. For example, if you have friends who love shopping, exchanging your gift cards with them for cash will be a great option.
All you need to do is give them the gift cards at a discount. This way, they will see the gift card as having more value, which makes it easy for them to give you the agreed-upon cash.
Subsequently, both parties will benefit. Your friend will get to buy what they want with the gift card, while you will get the cash to use as you see fit.
Alternatively, you can trade your gift cards for other items besides cash. If your friend or a family member has something you like that they are willing to exchange with some gift cards, you can always make that trade.
Being the largest social media platform globally, Facebook offers the right marketplace to sell almost anything. That includes gift cards.
The platform boasts over 2.4 billion users, giving you access to almost a third of the world’s population. And with such a huge audience, selling your gift cards here won’t be an uphill task.
Visit the Facebook Marketplace, list your gift card or gift cards, and wait for someone to make an offer. If it’s a physical gift card, you can send it to them or hand it over if they live near you. As for a digital gift card, you only need to send the buyer the details online.
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Last updated: November 27, 2024
