What if you cannot use your visa gift card online like you want? Sometimes you need cash. So how do you get cash from a MasterCard gift card?
First, there is no direct way to turn it in for cash.
But there are some roundabout ways of doing it. You can turn
in some Visa Gift Cards for cash but not others. Now we are going to explore
them in detail.
1.
Buy Something and Return It
This is one possible method to get cash from a Visa Gift
Card. But it is not always that simple.
It may or may not work depending on how the store’s
point-of-sale system works. Some stores will automatically return the money to
the card that paid for it.
Be sure to ask first. Don't assume that you will get cash
when you return a purchase.
Some stores try to prevent these types of transactions.
Move Money from a Visa Gift Card to your Bank Account
You can move money from your MasterCard gift card to your
bank account. Find out exactly how.
You can do this via PayPal, CardCash, Venmo, Money Order, or
Prepaid2Cash.
2.
Sell the Visa Gift Card on CardCash
There are websites just for this. Visit a website like
CardCash. CardCash facilitates trading
in gift cards.
There is also GiftCardGrannny, which serves the same need.
Here you can exchange any gift card. Visa gift cards like the Vanilla Visa Gift
Card are acceptable.
Trade your gift card in for cash on this website. Receive as
much as 90% cash in exchange for your card.
Here is how the process goes:
·
Visit the website
·
Choose an offer that you can accept
·
Pick a MasterCard gift card with a balance
sufficient for the trade,
·
Submit your card
·
Get verified before the transaction can go
through
You get your money at the end of the exchange. Doing this
online gets you more money than trying to sell it at a kiosk that buys gift
cards.
Bear in mind that this does not work for all Visa Gift
Cards.It works for some Vis debit cards.
The difference between CardCash and Raise is that Raise
lists your gift card. A third party buys it. CardCash buys the card directly
from you.
With CardCash, you get your money much faster. You don’t
have to wait for someone to buy it.
With Raise, you can sell the balance on a partially used
Visa Gift Card. Raise is a convenient way to cash gift cards online.
3.
Sell your Visa Gift Card Directly to another
Person
You could always go the direct sales route. Find someone
ready to pay the card's value.
Talk to your closest friends and family members first. Does
one of them plan to buy something soon? You can ask them to buy it off your
card.
Selling to someone you know is your best chance of getting
value. Strangers will want to buy at a discount.
Your other options are Craigslist, Kijiji, Facebook
Marketplace, and VarageSale.
Look into a gift card exchange. If you cannot get a better
offer this way, then sell it to your friend.
Go for the option that gives you a better offer.
4.
Add the Vanilla Visa Prepaid Gift Card to your
PayPal
You can add any prepaid card to your PayPal. You can add
Visa Gift Cards too. Money in your PayPal Wallet is as good as cash.
Moving the money to your PayPal may help you avoid incurring
additional fees.
Follow these steps:
·
Sign up on the Vanilla Visa website.
·
Link the card to your PayPal.
·
Now move the money on your gift card to your
PayPal.
·
You have your cash now.
The whole process may take up to five business days.
Standard transfers do not attract any fees.
Some methods may lead you to pay as much as 3% as a fee.
Look out for these fees to be sure. You also want to see that your bank will
not charge you more.
This method only works when you have already registered your
card. Make that your first step.
Your Visa Gift Card is now part of your PayPal wallet.
Here are four things you can do with the balance on your visa
gift card online:
·
Use it to buy the stuff you want.
·
Move the money to a debit account linked to your
PayPal.
·
Send the money to a friend or family member.
·
Pay for services with it.
5.
Move the Money to your Venmo
Venmo has 50 million users at least. Venmo is super popular
with Millenials. Venmo transaction fees range from cheap to free.
If you have issues with PayPal, you can always look into
Venmo. Venmo is a payment service that is much better for moving the balance
from gift card to bank account.
This online payment service links to your bank account. The
whole process takes not more than three business days.
The best part is that you do not pay any fees. You can have
an instant transfer for a fee.
If your gift card seems suspicious, Venmo may decline it. If
this happens, you will need to provide the correct personal information. Names
and addresses should match up.
6.
Use it to Buy a Merchant Gift Card
One way to 'cash' your visa gift card is to exchange it for
a gift card at a store you like. Buy the gift cards on sale to get more value.
With the best deals on visa gift cards online, you can save
as much as 20%. An $80 gift card may cost $100.
You can find gift card deals on Amazon. Prime members can
compound benefits by leveraging their membership.
7.
Gift Card Exchange Kiosk
If you have seen a machine resembling a casino slot at a
grocery store, you might have seen a gift card exchange slot. It sounds like a
casino slot, too.
To use this, punch in the number on the card and its
expiration date. You can now select from the cash-back offers available.
Print the voucher that comes out and present it to the
cashier. You will receive cash for it. Ask for help if you need it.
Many grocery stores don’t have gift card exchange kiosks.
Kiosks give you your money immediately. Their rates are not
the most favorable. So you should avoid this method if you can. You might need to
carry an ID.
8.
Pay Bills with your Visa Gift Card
If a service provider takes Visa Gift Cards, use your card
to settle bills. Call the service provider first to avoid complications.
Clarify with customer service that they accept Visa Gift
Cards. Companies like AT&T have clarified that consumers can pay with Visa
Gift Cards.
Paying your card balance into a bill may not be the same as
cashing it in, but you will use it as cash.
Visa Gift cards can go towards bills as long as there is
still a sufficient balance on the card. A Visa Gift card works better than
other gift cards for utilities.
Bills come up every month. You can use the card immediately.
The advantage of using it to pay bills is the ability to
spend the balance. Putting it toward a beats selling. You may realize a lower
value when you sell.
9.
Sell your Visa Gift Card on an App
The good thing about using an app to sell your Visa Gift
card is that you can do it almost immediately. But there is a downside to this
method of getting cash from a visa gift card. It is one way to cash gift cards
online.
Apps are fast. But they are also expensive. You will get
fewer dollars because the commissions are so high.
Don’t do this without looking into the other options first.
Check out:
·
Prepaid2Cash
·
Gift Card Granny, and
·
Raise
Most of these apps let you get a quote without committing
yourself. You can compare offers.
Raise is a popular app for people who want to get cash from
a Visa Card. You will typically rceive 85% of the value of the card value.
Raise has now partnered with Prepaid2Cash for now.
Prepaid2Cash serves both iOS and Android users.
Prepaid2Cash pays as much as 92% of your balance. Compare
them and choose the best offer.
10.
Use your Visa Gift Card to Buy a Money Order
A money order is like a check. You can get a money order at
grocery stores too. Not just at banks.
You can buy a money order with your Visa Gift Card at
Walmart or Western Union.
Different issuers of money orders all have their own sets of
conditions. Your Visa Gift Card is as good as a regular debit card. It can pay
for a money order.
Your Visa Gift Card should have enough money to buy the
money order you want. After you get the money order, you can cash it or deposit
it into your bank account.
To deposit the money order at the bank, endorse it at the back
and present your ID to the cashier.
If you bank with Alliant Credit Union, Citibank, Chase, or
TB Bank, use their mobile apps for a mobile deposit.
11.
Buy a Merchant Gift Card with your Visa Gift
Card
Maybe you cannot buy what you want with your Visa Gift Card.
There is a way around this.
Use your Visa Gift Card to pay for a merchant Gift Card with
your desired store. Your Visa Gift Card becomes more valuable. It can pay for
what you want.
Wait for a sale to get the most from your reloadable gift
cards. If you can get the card for 20% off, you will be getting significantly
more value for your money. Look for offers when shopping online.
You can use Gift Cards for Amazon, Starbucks, Walmart, and
others.
12.
Buy Stuff and Flip It
One more method is buying an item and flipping it for cash.
This method is for some people and not for others.
You have to find someone willing to pay for the item. Go for
it if:
·
You enjoy selling things for a profit.
·
You have time. Selling is time-consuming
If you hate selling, you won't like this method. You might
end up stuck with things you can't sell.
A little research will help you find the right items that
would sell. Pick popular items.
If you can find something that is on sale, it will be even
better.
Check out:
·
liquidation sections. Find these inside stores
and online.
·
thrift stores besides retailers.
When buying something for resale, research the market price,
shipping fees, and transaction costs. This research will help you to avoid
running into losses.
13.
Re-gift your Visa Gift Card
Maybe none of these options work for you. In that case, you
can recoup the cash by re-gifting it.
In this case, you are not cashing in on the card but saving
what you would have spent on a gift.
But you want to avoid any awkwardness. Get rid of any
identifying information on the vanilla gift card. Don't show that it was a gift
to you first.
Use them for upcoming birthday parties and other events. Try
to make it so someone will enjoy using the reloadable gift cards more than you.
Re-gifting is even easier than going to the store to buy a
gift.
14.
Cash Gift Cards at a Pawn Shop
Pawn shops will give you instant cash. But they will not
provide value for money.
A pawn shop will probably give you the worst deal of all
these options. You might get as little as half the value of reloadable gift
cards.
This needs to be the last option for this reason.
15.
Use Square to Cash in on your vanilla gift Card
Square is a payment platform. Businesses use Square to
receive payments. Use the Square to get cash from a Visa Gift Card.
Here is how to do it:
·
Register with Square and create an account
·
Add your Visa Gift Card to your Square account
·
Transfer your Visa Gift Card balance to your
bank account
You will have to pay a fee of 3.5-2.75%. It will depend on
how you do the conversion.
This way of cashing gift cards might not go through for all
Visa Gift Cards.
Conclusion
You have a choice of 15 ways to cash gift cards. Choose one
that meets your unique needs. Do you need to get the money urgently?
Do you want the exact value of the Vanilla Visa Gift Card?
Can you part with some fees?
Do you want to try and turn a profit on your vanilla gift card?
Are you looking for convenience?
There are trade-offs to be made.
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