Thursday, November 24, 2022

How To Send Money With Visa Gift Card

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Money transfer providers will have high transfer limits than banks, so this is definitely worth bearing in mind if you are looking to send large sums internationally.

When you send money using a debit card, the money comes directly out of your bank account and, in theory, you could send the total available amount in your account. However, most debit cards have a daily spending limit which is the maximum amount of money you can send or withdraw in 24 hours. The amount varies differs bank to bank and depends on the type of checking account you have.

Some debit cards will have a daily spending limit capped at $1,000, $2,000, or even as much as $5,000, but most will have an international transfer limit which is lower than this amount. Therefore, if your daily spending limit is $5,000, you might have a daily transfer limit of $1,000.;You can find out what your spending limit is by checking on your banks website, reviewing the paperwork issued with your card or calling your bank branch.;

If youre looking to make a major transfer with your debit card, you can also make a request to increase your spending limit temporarily. This may, however, take time and incur additional fees.;For this reason, a money transfer service can be more convenient as most have much higher transfer limits. Most providers allow you to send up to $15,000 per day, with bank transfers or $2,000 per day if you choose to fund the transfer with your debit card.;

Use It To Buy A Money Order

Stores like Walmart as well as certain grocery stores will let you buy money orders using your Visa gift card. That said, the availability of this can vary, so check if this is an option in your area.;

But once youve done this, the money order can then be deposited into your bank account to be used as straight up cash.

One thing you should keep in mind, however, is that some banks have had a habit of shutting down accounts if too many money orders are deposited. As such if you do choose to do this, perhaps combine it with some of the other options on this list.

Pay Yourself With Your Visa Gift Card

In an electronic world, most persons have access to transfer funds electronically. There are numerous electronic money transfer merchants that make this possible.

Electronic money transfer service merchants definitely allow syncing of Visa cards. For a small fee, you can turn Visa gift cards into cash by simply paying yourself with their services.

Business owners or persons with side hustles would be especially able to capitalize on this as they would have previously established electronic payment services.

If you are a person that receives a lot of gift cards and would like to turn Visa gift cards into cash, it may be worthwhile to take a look at one of these electronic money transfer services.

If you dont have a routine service set up, you can simply utilize an electronic money transfer company temporarily to transfer money from your Visa gift card to your bank account.

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How To Get Cash From A Gift Card

Gift cards have been the preferred present or gift of choice for nearly every occasion, including holidays, birthdays, Valentines Day and you get the point.

Gift cards seem to be the king of gifts when you dont know what to get that special someone.

But what if you dont get the right gift card?

That money shouldnt have to go to waste now, should it?

What if I were to tell you that you could get cash off of that gift card? Dont worry, this is perfectly legal and rather simple.

How Much Does It Cost

Send Money With Visa Gift Card

Youll pay a fee based on the amount you are sending. For amounts less than $200, MoneyGram charges you a base fee of $1.99. For amounts above $200, it charges $1.99 + 1% of the transferred amount.

For example, if youre going to send $500, the fee will be $1.99 + $5, for a total of $6.99.

You can estimate the fee before you send the money by using the;fee calculator;on the MoneyGram homepage.

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How To Transfer Gift Card Balances To Your Bank Account Using Cardcash

Yes, you can transfer money from most prepaid gift cards to your bank account using a service called CardCash.;

Unlike most prepaid cards, gift cards are disposable and can only be used until the balance reaches zero while most prepaid cards are reloadable and can be used indefinitely.;

Thankfully, weve found one proven method for transferring money from your gift card to your bank account.;

You can use mobile payment services like CardCash to transfer your money from your gift card or prepaid to your bank account.

The catch? Its more expensive than just using the gift card or prepaid card to buy items. So make sure that its really the cash value that you want from the gift card.

To transfer gift cards to your bank account using the;CardCash;Option:

  • Go to this page on the;CardCash website
  • Enter the gift card you have Ex: Walmart
  • Enter the amount on the gift card Ex: $100
  • Click;GET OFFER;and an offer for how much they will pay you will appear Ex: $88.00
  • If you accept the amount, click;Get $88.00 Cash
  • There will be a pop-up window asking how you will like to get paid and choose;PayPal Express
  • Enter your gift card number and PIN and continue to connect with your PayPal account
  • Log-in to your PayPal account and fill the required fields
  • Click Get my PayPal Balance
  • Once the balance reaches your PayPal Wallet, you can now transfer the money to your bank account by following these steps on;How to transfer from PayPal to my bank account?
  • Use The Reselling Method With Your Visa Gift Card

    With the reselling method, you can buy something with the Visa gift card from a store and then sell the item online to earn cash. Since this takes a few more steps, I put this one last on the list.

    To make this work, you have to purchase an item from a store and resell it. Most of the time, sellers will find items that are marked down at stores such as Walmart or Target and sell them online for a slightly higher price for profit. This normally happens after the holiday season when stores mark downs items.

    Make sure to see what items are popular to sell online and then put the item for sale on places such as Amazon. This is called becoming an Amazon FBA seller.

    A lot of time people will purchase the items for a discounted price and are able to sell the item for a higher price on Amazon. There are a lot of sellers making greatmoney doing this side hustle, and it could be a way for you to convert Visa gift cards to cash.

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    Fill In Bank Details Youd Be Taken To A Page In Which Youd Fill On Your Bank Information After Sending The Charge Information

    Here youd enter;

    Receivers Name

    Address

    Card information After getting into those information, click on Next and your cash transfer might be processed. Viola! In couple of minutes youd have transfered cash out of your visa gift card to financial institution account. Note that MoneyGram expenses a price primarily based totally on the amount youre sending. And fortuitously their price is ridiculously cheap. $1.99 for quantities much less than $200. For quantities above $200, it fees $1.99 + 1% of the transferred amounttransfer visa present card to financial institution To transfer visa present card to bank has been fairly hard for people and even not possible for maximum people. Having visa cards have saved people the stress of wearing cash around and going out of budget with their costs due to the fact they could load their cards with a fixed amount of price range which could bring their purchases for an extended duration of time. But where through a person has sufficient budget in the visa card and lacks cash at hand, there will become the need that allows you to transfer the visa gift card to a bank account with a view to access the cash and use however they need.

    Give The Visa Gift Card Away As A Gift

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    Another great way to convert Visa gift cards to cash is by giving them away as a gift. One of the great things about Visa gift cards is that they can serve as a cash gift. If you are attending a special occasion such as a birthday or baby shower, you can give a Visa gift card to the person.

    The person will be able to use the gift cards like cash to purchase the items of their choice. This is a great way to give someone a gift that is similar to money. Instead of giving someone something like cash in a card, you can simply put the Visa gift card in a special card and give it to them as a gift.

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    Five: Follow Additional Instructions From The Prepaid Card Company And Perform The Transfer Online To Your Bank Account

    Every prepaid card provider will have a slightly different set of instructions so make sure to follow the instructions carefully.

    At any point, if youre unsure of what to do, your prepaid card provider should have a customer service hotline that you can call for help.

    Here is an example of the detailed instructions provided by the Key2Benefits Prepaid Card website.

    Convincing Square To Accept The Visa Gift Card

  • 1Appear like a merchant. While Square indicates it accepts Visa gift cards, there are mixed reports that Square will reject a Visa gift card if it believes you are using the service once to transfer a balance. In order to avoid this, you need to convince Square that you are a regular merchant or find a friend that is an established merchant to make the transfer for you.
  • There is no guarantee this will work, but it will increase the likelihood of success.
  • You can skip this part and try to make the gift card transfer following the steps in the next part. Just be aware that it may fail.
  • 2Open the Square app and enter an amount for a transaction. This is a transaction that you create and pay with your own funds or credit card. You are not actually buying or selling anything. This creates a transaction record in Square before trying to transfer the Visa gift card balance. It is recommended that you enter an amount in Square that is not too large since it charges a transaction fee. You will get this money back in the bank account that is linked to Square, it is not disappearing.
  • 3Input the credit card information for the charge. You are not using the Visa gift card yet, so choose another card for this transaction. It does not matter what kind of card you use.
  • 4Conduct a few more small transactions with your own funds. This will make you appear more like a merchant and also serve as a test ahead of a the larger balance transfer.
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    How To Transfer Visa Gift Card To Bank

    Most of the time, you cant straight up transfer a Visa gift card balance or any other gift cards directly to a bank account, there are some roundabout ways to do so.

    Transfer the balance of your Visa gift card to bank account by using some of the steps mentioned above, such as by:

    • Adding your Visa gift card to your PayPal or Venmo account, and then transfer the balance to your bank account;
    • Buy money order and deposit the value to your bank;
    • Sell your gift card through a website, which will then pay the agreed amount through direct deposit.

    Use The Visa Gift Card To Pay Your Bills

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    The next method, which is as good as getting liquid cash, is using the gift card to cover your bills. This can be done with the free service called Plastiq as mentioned above.

    You can do this in the following ways:

    • Pay large bills like your mortgage, car payment, and more

    Since you would have used cash to pay for the installments of loans like your car loan or mortgage, using the card is as good as cash.

    Some companies, such as Plastiq, allow clients to settle certain bills through credit cards.

    And, since Visa cards are perceived as credit cards, you can use them with companies that allow payment by credit.

    However, you should know that since the company will treat the card as a credit card, the card will incur slightly fees. Its completely free to sign up and try.

    Free

    • Pay everyday bills

    Besides using the cards for larger bills, you can also use it to settle regular bills or, better still, make some local purchase with the Visa gift card.

    This is possible since, in most cases, Visa gift cards are acceptable in stores that accept normal Visa cards.

    Also, billers who accept the use of credit cards will, in most instances, take the gift card as payment.

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    How Do You Transfer Money From A Visa Gift Card To Paypal

    PayPal accepts Visa gift cards, and you could use your Visa gift card to fund your transaction in PayPal. All you need to do is to link your card to your PayPal account, and then add cash from the Visa gift card to your PayPal account.

    As well, you can always use the Visa gift card balance to fund your transactions whenever necessary. This is the same way you link credit cards and debit cards to your PayPal account to use the card balances for various transactions. Linking a card to PayPal is easy. Even the second chance credit card with no security deposit attaches so easily with PayPal so long as it is active.

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    Proven Ways To Convert Visa Gifts Card To Cash

    While its true that you cant simply go to an ATM and withdraw money from a gift card, there are still several ways on how to get cash from a Visa gift card.

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  • Perhaps you earned the gift card through survey sites and rewards programs, someone gave it to you last Christmas, or maybe you bought it yourself as part of a promotion. But this time, for whatever reason, you just want to have cold hard cash.

    Again, if thats the case, Ill be sharing some tested and proven ways on how to cash out Visa gift cards.

    Add It To Your Venmo Account

    Turn Your Visa Gift Card Into Cash 2017

    Similar to PayPal, you can put your Visa gift card balance on your Venmo account. And this is actually a better option than PayPal if you were planning to transfer the money to your own account as cold, hard cash.

    This is because Venmo doesnt charge any fee to transfer money from your Venmo account to your bank account, unless you select the Instant Transfer option. Otherwise, the money should arrive in your account within one to three business days.

    To do this, go into the Venmo app and find the option that lets you add gift cards. Theres a chance that youll get a warning message here for fraud prevention, so either try again or give Venmo customer service a call at their helpline to see if they can clear up the issue.

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    Pay Your Bills With Your Visa Gift Card

    Using your gift card to pay a bill is exactly the same as converting your Visa gift cards to cash although youll never actually get to see the money.

    Just remember that because the Visa gift card is treated the same as a credit card, youll also incur any credit card fees, so make sure you do the math to confirm that its worth it.

    How do you liquidate a Visa gift card by paying bills?

    This can be done with any billing provider that accepts Visa credit cards for bill payments, as the Visa gift cards are treated exactly the same.;

    Not every single company will allow this, but youll almost certainly be able to use your card in this way for things like topping up your phone credit, buying groceries and gas or renewing your subscription at the local yoga studio.

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    Three: Register Or Log

    After finding out whether your prepaid card provider allows such a transaction, you can sign-up for an account or log in if you already have an account.

    If you need to do registration, then you will need your prepaid card with you. After signing-up, you can use the log-in details for future transactions.

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