Can you convert your gift cards into cash? If yes, what are the best ways to do it? This piece offer insight into how to easily get cash from your gift cards.
The holidays are here, and you may be wondering how to get that sweet, sweet gift card cash. You’ve probably got a pile of 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 having to do any work. Everyone wants that! And while the thought of receiving gift cards is a pleasant one, 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.
Easy Ways to Turn Gift Cards into Cash
Whether you earned your gift cards from popular survey sites or through cashback apps, you need to find a way to redeem that cash. Here are easy ways to help you convert gift cards into cash.
1. Sell your Gift Cards Online at a Gift Card Exchange Website or App
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 much 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 own gift cards.
These websites and apps usually act as a marketplace for buying and selling gift cards. They help to connect people wishing to sell unused gift cards to those that want to buy such.
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.
You should, however, 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. In fact, some of these websites, like Rise, offer mobile apps to use on your devices. Here, all you need is to download your app, use it to send the card, and choose your preferred mode of payment.
See Related: Easy Ways to Get Free Sephora Gift Cards
2. Visit a Gift Card Exchange Kiosk
Besides the online avenues for selling gift cards, there are also some brick-and-mortar exchange options known as gift card exchange kiosks. These are self-service points, mostly located in grocery stores, which you can simply walk to and exchange your gift cards.
However, before you visit a gift card exchange kiosk, here are two things you should note:
- Your gift card must have a balance of at least $20
- The exchange kiosk will charge a fee ranging from 10 to 40% of your gift card value
After that, you can walk to the kiosk and follow the following steps to exchange your gift cards.
- Swipe your card to reveal the balance and fees
- Accept the offer
- Verify your details (identity)
- Insert the card
- Wait for the receipt, which you can now redeem at the customer service desk
3. Use your Gift Card to Buy a Money Order
This is undoubtedly one method that could help you get some easy cash from your gift cards. While it’s not an option that you’ll find in every other store, some big stores, including Walmart, offer such services, you can 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 any time you want 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. As such, confirm first with the outlet where you are cashing the money order before proceeding.
See Related: Cool Ways to Get Free Wish Cash
4. Use it to make Purchases
This 4th way is the most basic one that almost all gift card owners follow. They use gift cards for shopping, buying groceries, or even refilling at gas stations. Yup, stop messing around and just use it for its intended purpose.
The good thing about many gift cards is that most of them are easy to use as you would cash or credit cards. All you need is to load the amount of 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.
See Related: Prepaid2Cash Review: Is It Legit or a Scam?
5. Sell Gift Cards on eBay or Craigslist
If you’re feeling especially ambitious and have time on your hands, 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 have to 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 not only offer a large audience base for your cards, but they also give you a chance to get a better deal. Therefore, if you are looking to pocket some extra cash, these might be your to-go options.
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.
One thing you should note is that the platforms will keep a percentage of your sale. This means 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 or not.
See Related: Ways to Get Free Gas Gift Cards
6. Covert your Visa Gift Card to PayPal Cash
Now, this might be the best way to exchange Visa gift cards for cash so far. Although the costs might be higher, reaching up to 10% of your card’s value, it is pretty easy.
So, how does it work?
Well, PayPal is one of the major online payment platforms that allow 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 – these include Visa gift cards.
As such, if you have a PayPal account, all you have to do is log in and follow the following steps:
- From the top left-hand side of the screen, tap on the “Pay & Get Paid” option
- This will display two options; “Payments” and “Wallet.” tap on the latter.
- At the bottom of this screen, go to “cards” and tap the “+” sign
- Add your card’s details as prompted and link your card.
Once done, you can now use your gift card balance to make purchases 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 more than just to make purchases through PayPal, maybe 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 is to visit their official site and follow the simple prompts to sell your gift card.
See Related: How to Make Money at School: Easy Ways to Earn Cash
7. Add your Gift Cards to your Venmo Account
When looking for ways to exchange gift cards for cash, this is another incredible option you can try out. Venmo not only allows you to retrieve hard cash from your gift cards, but it is also easy and cheap to use.
Just like PayPal, Venmo allows you to link gift cards to your Venmo account, giving you easy access to the gift card balance. Even better, 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.
Plus, not choosing the Instant Option doesn’t mean you’ll have to wait forever for your money. It is just a matter of 1-3 business days, and the cash will be in your bank account.
The gift card exchange process is also pretty easy. If you have your Venmo app, follow these steps:
- Open the app on your device and log in
- Go to settings
- Locate payment methods and click
- Choose the “add cards” option
- Fill in the card’s details as prompted, and you are good to go
From here, you can now transfer the card’s balance to your bank account. And If you are faced with a money laundering restrictive message during the process, worry not, just contact customer care. They will certainly help.
See Related: Ways to Get Free American Eagle Gift Cards
8. Buy Gift Cards from other Merchants
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 gift card from Starbucks that you’ll probably never use, especially if you are an anti-coffee person. But the same gift card could allow you to shop at Amazon or Walmart if exchanged.
Well, there are sites that 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 that you can make a purchase or pay bills with. A worthy trade and no mistake!
See Related: Make Money Online: The Definitive Guide
9. Re-gift your Unused Gift Cards
Re-gifting is one of the easiest ways to convert gift cards into cash – sort of. It’s also a great way to get rid of those unwanted gift cards you’ve got hanging around your house, especially if you’re planning 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, then it’s an easy way to convert those unwanted gift cards into something useful. They might appreciate it more than you think.
10. Trade it with a Friend or Family Member for Something you Like
Speaking of friends who love shopping…
If you have some unused gift cards sitting around, 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 is to 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 cash.
Subsequently, both parties will benefit. Your friend will get to buy what they want with the gift card, while you get the cash to use the way 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.
11. List Unwanted Gift Cards on Facebook Marketplace
Being the largest social media platform globally, Facebook offers just 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.
Simply 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 simply send it to them or hand it over if they live near you. As for a digital gift card, all you need is to send the buyer the details online.