12 Ways to get cash from a Visa gift card (or invest it) in 2024

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Many people receive Visa gift cards as gifts, but would prefer the flexibility of cash.

Imagine this: you just graduated and excitedly open a gift, only to find a $100 Visa gift card. It’s a thoughtful present, but you’d prefer the flexibility of cash. Not a problem! Here are clever ways to get the most out of your prepaid Visa card, whether you want to convert it to cash or find alternative uses.

Looking to make quick cash? Try these two apps for free:

  • KashKick is a popular online platform that reward users for engaging in activities like answering surveys and playing games.
  • Freecash is an online platform that allows users to earn rewards by completing various tasks. These tasks can range from answering surveys and testing apps to playing games. 

12 Ways to convert Visa gift card to cash

There are several ways to convert your reloadable Visa gift card into usable bills! Here’s how to get cash from your Visa gift card:

1. Buy crypto with your Visa gift cash

You can use Coinbase to convert the balance on your Visa gift card into digital currency, like Bitcoin. Then, you can sell that digital currency for cash.

  • Check exchange platform policy: Not all cryptocurrency exchanges accept Visa gift cards. Research the platform you plan to use to see if they accept this payment method.
  • Potential fees: Even if accepted, using a gift card can be expensive. Be aware of any additional charges before you buy.
  • Security concerns: Some platforms may be less regulated than traditional financial institutions. Make sure you’re using a reputable exchange with strong security measures.

Alternatives to consider:

  • Cash transfer: If you’re set on using the funds for crypto, consider selling the gift card for cash and then using that cash to buy crypto on a platform that accepts it.
  • Direct crypto purchase: Look for platforms that allow you to purchase cryptocurrency directly using your debit card (exceptions may apply).

Remember, cryptocurrency is a volatile investment. Do your research before buying. There are inherent risks associated with using gift cards for cryptocurrency transactions. These can include:

  • Limited consumer protections: Gift cards may have weaker purchase protection than credit cards.
  • Exchange restrictions: Many exchanges have restrictions on using gift cards due to money laundering concerns.
  • Uncertain fees: Fees associated with gift card transactions on cryptocurrency exchanges can be high and unexpected.

If you’re interested in buying cryptocurrency, I recommend using a reputable exchange like Coinbase that accepts traditional payment methods like bank transfers or debit cards with clear fee structures.

Here are some additional tips for safe and secure cryptocurrency purchases:

  • Research exchanges: Carefully research different cryptocurrency exchanges to find one that aligns with your needs and security preferences. Look for established platforms with strong reputations.
  • Understand fees: Be aware of all fees involved in buying and selling cryptocurrency, including transaction fees, withdrawal fees, and any potential gift card processing fees.
  • Store crypto securely: Use a secure cryptocurrency wallet to store your digital assets. Avoid keeping large amounts of crypto on exchanges.

By following these guidelines, you can help mitigate the risks involved in cryptocurrency transactions.

2. Treat your prepaid Visa gift card like cash

Here’s the good news: you can ditch the conversion hassle and use your Visa gift card just like cash for everyday purchases.

Need to pay bills? No problem! Use your gift card for utilities, groceries, or even rent. Just enter the card details during your online bill payment and watch the amount get deducted from your balance.

Thinking about hitting the stores? Your Visa gift card is accepted at popular spots like Walmart, Home Depot, and your neighborhood supermarket. So go ahead, stock up on your essentials, or treat yourself to something nice!

3. Turn your unused gift card into cash!

Several reputable websites specialize in buying unwanted gift cards. These sites, like Raise and CardCash, allow you to sell gift cards from various issuers, including Visa, Mastercard, and popular retailers like Best Buy, Nike, and Target. This is a convenient option, and they handle the entire exchange process.

Craigslist can also be a platform to sell your gift card. However, it’s important to know about potential scams when using this route. Be extra cautious and take steps to protect yourself from fraudulent activity.

Selling your gift card online is a smart solution if you receive one from a store you don’t frequent. Don’t let a gift card go to waste! Turn it into cash and use it for something you truly desire.

4. Buy a money order

Money orders are a secure way to send or receive money. Sometimes, you can use a Visa gift card to purchase a money order, effectively converting the gift card’s value to cash. However, there are some limitations to this approach.

Where to buy a money order with a Visa gift card

  • Post offices: Typically allow money order purchases using Visa gift cards.
  • Retail locations: Certain retailers, like grocery stores or office supply stores, may also offer money order services and accept Visa gift cards for payment. It’s best to call ahead and confirm their policy.

Things to consider

  • Gift card type: Only Visa gift cards with PIN functionality can likely be used for money order purchases. These function similarly to debit cards. Gift cards restricted to specific stores cannot be used for money orders.
  • Fees: Be aware of potential fees associated with the transaction. These could include fees from the retailer selling the money order or from the issuer of your Visa gift card.
  • Limits: The amount you can purchase on a money order using a gift card may be limited. Check with the retailer or refer to your gift card’s terms for details.
  • Bank monitoring: If you deposit multiple money orders purchased with gift cards into your bank account, it could raise flags for suspicious activity. Be sure to follow your bank’s guidelines for depositing money orders.

5. Add money to your PayPal or Venmo account

Digital wallets like PayPal and Venmo offer convenient ways to shop online. They also provide flexibility by allowing you to add funds from various sources:

If you have a Visa gift card that you don’t plan on using, you might want to consider converting it to a PayPal or Venmo wallet. Since both platforms are widely accepted, this can give you more flexibility when making online transactions.

However, keep in mind that there may be some transaction fees involved when you move money out of your PayPal account and into your bank account. Before making any transfers, it’s always a good idea to check the fees associated with the transaction so you can make an informed decision.

6. Buy and flip products

Have a Visa gift card burning a hole in your pocket? Look beyond the usual stores! Flipping products can be a fun way to turn your gift card into extra cash.

The idea is simple: use your gift card to buy items at a discount online, then resell them for a higher price on marketplaces like eBay or Amazon. If done well, you can end up with more money than the original gift card value.

However, there’s a little work involved. Finding the right products to flip takes time and research. There’s also the risk of not selling your items, meaning you might not recoup your full investment.

But with some smart shopping and strategic selling, flipping can be a rewarding way to stretch the value of your gift card.

7. Sell your gift card to someone you know

Have you ever been out and about with a friend when you suddenly realized you were short on cash? If you have an unused gift card sitting in your wallet, you might be able to turn it into some quick spending money by selling it to your friend.

Before you propose this deal, there are a couple of key things to consider:

  • Check the balance: Make sure you know exactly how much value is on the card. Don’t rely on memory or guesswork. Most gift cards allow you to check the balance online or by phone. Assuming it’s full value, you wouldn’t want to offer a $50 card, only to find out it has $20 left. That could cause unnecessary friction with your friend.

Making the offer

  • Be upfront and honest: Tell your friend you want to sell them the gift card. Be clear about the card’s value and any restrictions (like specific store it can be used at).
  • Offer a discount: Selling the card for slightly less than its face value makes the deal more attractive for your friend. This shows you’re willing to give them a good price on the card in exchange for getting some quick cash.

Remember: Selling a gift card to a friend is a casual transaction, but it’s still important to be transparent and fair throughout the process. This will help you avoid any misunderstandings and maintain a good friendship.

8. Re-gift the Visa card

Unlike cash, a gift card can be handy for unplanned purchases without a trip to the ATM. It’s like having extra spending power tucked away for a rainy day.

Imagine this: you’re invited to a celebration, but gift-giving day snuck up on you. No time to dash to the store! Here’s where a secret weapon stashed in your drawer comes in: a Visa gift card.

This handy card is your hero for any last-minute present situation, including birthdays, weddings, holidays—you name it.

9. Invest the card

Consider investing unused gift card funds for long-term gains. By linking your gift card to a brokerage account, you can convert the balance into stocks, bonds, or mutual funds. This strategy is ideal for those who don’t need immediate access to the money and prefer long-term growth potential.

By investing wisely, you can potentially turn a small sum into something much larger over time.

Things to consider before you invest:

  • Your risk tolerance: Investments carry varying degrees of risk. Before investing, consider how much risk you are comfortable with.
  • Your investment goals: Are you saving for retirement, a down payment on a house, or something else? Your goals will help determine what type of investments are right for you.
  • The fees associated with investing: There are fees associated with opening a brokerage account and buying and selling investments. Be sure to factor in these fees before you invest.

10. Use your Visa gift card to pay bills

You can actually leverage your Visa gift card to pay certain bills.

Read Also:  How to get $750 to use at SHEIN (2024)

Target bills with wide payment options:

  • Utilities: Many utility companies accept electricity, gas, or water credit card payments. Check their website for accepted payment methods (like Visa!) or call them to confirm.
  • Rent: Some landlords may allow rent payments by credit card, which could be a convenient way to use your gift card. Be sure to ask about any processing fees associated with this option.

Benefits of using a Visa gift card for bills:

  • Convenience: Pay bills directly without transferring funds or exchanging the card for cash.
  • Avoid unwanted purchases: This can be a good way to ensure you use the gift card for something practical.

Remember:

  • Check for fees: Some billers might charge a processing fee for credit card payments. Factor this in before using your gift card.
  • Card balance: Ensure the gift card has enough funds to cover the bill.

11. Buy other gift cards

Many online stores allow you to use a Visa gift card as a payment method when buying gift cards from their store. Search for the gift card you want (like an iTunes or Amazon gift card) and proceed to checkout using your Visa gift card.

If your Visa gift card doesn’t cover the entire cost, most retailers will allow you to use another payment method, like a credit card.

12. Get instant cash for your Visa gift card at an ATM

Need quick cash for your Visa gift card? An ATM is your best bet! Here’s how it works:

  1. Head to a trusted ATM. Make sure it’s a reputable machine, like one connected to your bank.
  2. Check for deposit options. Not all ATMs accept card deposits, so look for a machine with a deposit slot.
  3. Insert your card and follow the prompts. You’ll likely be guided through a deposit process similar to cash deposits.
  4. Expect fees. Remember, there might be charges for using an ATM for this purpose.

The upside? You’ll have cash in hand right away, ready to use anywhere. No waiting for transfers or clearances!

Getting the most out of your Visa gift card

Visa gift cards are a convenient way to shop, but there are a few things to know before you swipe. Here’s a guide to using your Visa gift card to the fullest:

1. Activate it!

Before you start shopping, make sure your card is activated. Instructions are usually on the back of the card and involve a quick phone call or online activation. Remember, an unactivated card won’t work! (Thankfully, activation fees typically fall on the buyer, not the recipient.)

2. Know your balance

Track your spending! Write down the starting balance so you don’t accidentally overspend and get caught with a declined card. This is especially important when a quick purchase is needed, like grabbing a train ticket or a bite to eat.

3. Treat it like cash

Think of your Visa gift card as a prepaid debit card. Use it anywhere Visa is accepted, just like you would cash. It’s perfect for grabbing groceries, clothes, or anything else that catches your eye.

4. Don’t let those last few dollars go to waste

Running low on funds? Don’t worry! When your balance dips below $5, most stores will let you combine it with another payment method to cover the remaining cost. Alternatively, some stores have gift card exchange kiosks where you can redeem the remaining balance for cash.

Pro tip: Maximize your balance!

Here’s a clever trick to ensure you use every penny on your gift card: If your balance is, say, $100, head to the grocery store and fill your cart until the total reaches $125. Use your gift card for the full $100, then pay the remaining $25 with another card. This way, you get everything you need and avoid any leftover credit.

Pros and cons

Visa gift cards offer convenience and budgeting benefits, making them popular for gift-giving and personal spending. However, there are some downsides to consider before you buy or use one.

Pros:

  • Shop almost anywhere: Visa gift cards can be used like cash at most stores and online retailers, making them versatile presents or handy budgeting tools.
  • Budgeting power: Loading a specific amount onto a Visa gift card allows you to control your spending on groceries or other expenses, preventing you from going over budget.
  • Relaxed expiration dates: Most Visa gift cards have long expiration dates, so you don’t have to worry about using them immediately.

Cons:

  • Fees can nibble away: Visa gift cards often have activation and transaction fees that reduce the overall value. Be sure to factor these fees into the cost.
  • Not accepted everywhere: Not all merchants accept Visa gift cards, especially smaller vendors or cash-only businesses. It’s wise to carry some cash as a backup.
  • Lost or stolen, funds gone: Unlike debit cards, Visa gift cards typically offer no protection if lost or stolen. The money is gone, just like if you lost cash.
  • No interest earned: Unlike a savings account, a Visa gift card does not earn interest. In fact, with inflation, the value of the money on the card goes down over time.

Frequently asked questions

Here are the most frequently asked questions on converting a Visa gift card to cash:

What’s the best way to earn gift cards?

kashkick

KashKick

KashKick is a legit online rewards site that pays you for completing various tasks, including: surveys, watching ads, playing games, and more.

Rewards apps and sites: These platforms are a treasure trove of free gift cards. Sign up for sites like Survey Junkie, Swagbucks, and InboxDollars and get bonus rewards just for joining (often $1-$10). You can keep racking up points by taking surveys, watching videos, shopping online, or even scanning product barcodes with your phone.

freecash

Freecash

Freecash pays you to take surveys, complete tasks, and play games. Freecash is legitimate and fully transparent, with low thresholds for payouts.

Cash-back credit cards: Consider applying for a credit card that rewards you with cash back on purchases. This cash back can be redeemed for gift cards to your favorite stores or restaurants. Remember to spend responsibly and pay your balance in full each month to avoid accumulating credit card debt.

rakuten

Rakuten

Cash back every time you shop. Rakuten is a simple way to score cash back for online and in-store purchases. The cash back you earn can be used for literally anything. It can be extra spending money, or use it to boost your savings and investments. Rakuten offers a $10 welcome bonus for new sign-ups!

You can also get a gift card from cash-back sites like Rakuten and Ibotta when you purchase through these platforms.

Gaming for gains: If you’re a gaming enthusiast, there are games that reward you with gift cards for playing. Research popular options to see if any align with your interests.

ibotta

ibotta

Cash back every time you shop. With Ibotta it’s easy to earn cash back, whether you’re at the grocery store or shopping online. You also get $5 free for signing up!

Remember: Earning free gift cards takes time and effort. Don’t expect to get rich quick. But by trying out a few of these strategies, you can be well on your way to snagging some free rewards for things you might already be doing.

Can I use a Visa gift card to pay credit card debt?

Gift cards can be a helpful tool to chip away at credit card debt. Here’s how:

  • Sell the gift card: Don’t need the gift card’s benefits? Sell it to a gift card exchange service for cash, which you can then use towards your credit card balance.
  • Use the gift card for everyday expenses: Free up cash in your budget by using the gift card for groceries, gas, or other regular purchases. Then, use the cash you would have spent to make a credit card payment.

Remember: You typically cannot directly link a prepaid card to a credit card for payment.

This approach lets you leverage the gift card’s value while strategically paying down your debt.

Can you transfer money from a Visa Gift Card to Cash App?

While directly adding funds from a Visa Gift Card to a Cash App isn’t supported, there are alternative methods to achieve this.

Using PayPal as an intermediary:

  • Link your Visa Gift Card to your PayPal account.
  • Transfer the funds from your Visa Gift Card balance to your PayPal balance.
  • Send the money from your PayPal balance to Cash App.

Cash App accepts debit and credit cards from major issuers, including Visa, Mastercard, American Express, and Discover. When adding a card, you’ll need to provide the card number and CVV code.

Be mindful of any fees associated with these transactions, imposed by either PayPal or Cash App.

Can you buy an item and then return it for cash?

While returning an item for cash after buying it might seem like an option, it’s generally discouraged. Stores typically have clear return policies outlining accepted reasons for returns. Returning something you plan to resell goes against these policies and can be considered unethical.

There are better ways to turn a desired item into cash. Online marketplaces like Amazon or eBay allow you to resell items directly to interested buyers. This approach benefits everyone – you get cash for your item, the buyer finds what they’re looking for, and the retailer avoids any return-related hassle.

Can I transfer money from a gift card to my bank account?

While directly depositing funds from a Visa gift card to your bank account isn’t always possible, there are workarounds that can help you access that money. Here are a couple of methods to consider:

Platforms like PayPal, Venmo, or Cash App often allow you to link your Visa gift card as a payment method. Once linked, you can transfer the balance to your bank account connected to that service.

Some retailers offer kiosks where you can trade in your gift card for cash or a voucher minus a fee. The voucher can then be used for online purchases or redeemed for cash.

It’s important to understand the terms and conditions of your specific gift card before attempting a transfer. Some cards may have restrictions on transferring funds, so it’s recommended that you check the card issuer’s website or call customer service.

What is a Vanilla Visa gift card?

A Vanilla Visa gift card is like a gift certificate with superpowers! It’s a prepaid card on the Visa network, so you can use it to shop at millions of places that accept Visa. Unlike a gift certificate for a specific store, a Vanilla Visa card gives you more flexibility.

Just load it up with money, and you’re ready to go. Use it for in-store purchases, online shopping, or even over the phone. It’s a great way to stick to a budget or give someone a gift with some spending freedom.

The bottom line

Ever get a gift card you’re not crazy about? You’re not alone. Don’t feel obligated to spend the gift card at the store that issued it. There are services that allow you to sell your gift card for cash, often at a slightly discounted rate. This can be a great option if you have no interest in the store or the items they sell.

Some services allow you to trade your gift card for a gift card from a different store. This can be a good option if there’s a store you actually shop at that offers gift cards.

With some planning, you can use your gift card to purchase a highly demanded item and then resell it for a profit. This can take some research and effort, but it can be a way to get more value from your gift card.

Ultimately, you decide what to do with your gift card. If you’re focused on long-term financial goals, converting it to cash or using it for a smart purchase might be a good call. But remember, it’s okay to indulge yourself sometimes!