Saturday, August 13, 2022

How To Turn Prepaid Visa Into Cash

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Add To Your Amazon Balance

How To Turn Visa Gift Card into Cash Using Paypal

If you use Amazon as many people do then consider adding your Visa gift cards to your Amazon account.

Since Visa gift cards are pretty much as good as cash, you can use them to purchase items on Amazon when you add the gift cards to your Amazon balance.

Its a really simple way to use your Visa gift cards!

If you need to purchase items on Amazon then definitely consider adding your Visa gift cards to your Amazon account to use the money.

Why Cant I Get Cash Off A Visa Gift Card

Gift cards are marketed as gifts, whereas prepaid cards are typically marketed as an alternative to a traditional checking account. This distinction is important because the latter type of card can be reloaded with additional funds, be used to get cash from an ATM or allow the holder to get cash back from retailers who support this.

To activate prepaid cards, you typically need to provide personal information such as your name, address, date of birth and social security or drivers license number. Merchants are also required to report suspicious purchases and track individuals buying large amounts of prepaid cards for five years. Gift cards, on the other hand, can be purchased and activated anonymously. As a result, anti-money laundering laws prevent gift cards from being used to get cash or from having a value over $1,000.

Below are a couple of scenarios to help you understand the reasoning behind this.

1. Clean Cash. A thief uses stolen money or money from drug sales to buy a prepaid card, then goes to an ATM to withdraw cash from the card. The money is now clean, but because the card has to be registered and merchants are required to track purchasers of prepaid cards, the bank has a potential way to identify the person laundering money. Since gift cards dont need to be registered, cashing out is not allowed.

Those are just a couple of examples and not even the worst.

Happy Gift Carding!

~Shelley Hunter, Gift Card Girlfriend

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Sell It On The Raise App

Another way to convert a Visa gift card into cash is by selling it on an app called Raise. Raiseis a site where you can sell your unwanted gift cards with ease.

Its really simple! All you have to do is find all your unwanted gift cards then list them to sell on the platform. Lastly, you will get paid either via Check, PayPal, or by direct deposit when someone buys the gift card.

Raise is an amazing site if you have unwanted Visa gift cards or any other gift cards from stores such as Target, Amazon, and Walmart. In addition to selling unwanted gift cards on the site, you can save money when you buy other gift cards on their site.

You can also check out their coupon section to find some of the latest deals on popular stores and brands.

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Sell Your Visa Gift Card To A Gift Card Resale Site

An easy way to trade your Visa gift card for cash is to sell it to a gift card resale site, like:

And yes, you can even !

Now, this option isnt as good as some of the others, because you wont get the full value of your gift card. This is because these websites sell discount gift cards. So, for example, if you have a $100 gift card, you may only get $80 for it. Still though, if youre looking for cash fast, gift card resale sites can be a good option.

Ways To Convert Visa Gift Cards To Cash

Turn visa gift card into cash

Perhaps you have received a Visa gift card as part of a promotion. Maybe you are registered on Swagbucks.com and redeemed the Swagbucks you earned for watching videos, taking surveys, playing games, and shopping online for a Visa gift card. Alternatively, you may have received your Visa gift card from your dear Aunt Thelma for your recent birthday when what you really needed was cold, hard cash to help you meet a financial goal you had set for yourself. Perhaps you wanted to pay down some debt, add to your emergency fund, or increase your retirement savings. Unfortunately, you cannot simply insert the gift card into an ATM to get the cash you desire. A Visa gift card is different from a Visa prepaid card, which is reloadable and can be used to get cash at an ATM. Nevertheless, there are multiple ways to convert that gift card to cash. Ten of these are discussed below:

1. Transfer Visa Gift Card to Bank Account via PayPal

If you do not have a PayPal account, consider asking a trusted friend or family member to upload the card to his or her account, giving you the cash for it.

2. How to Add Visa Gift Card to Venmo

Venmo is a PayPal-owned app that facilitates the transfer of money among friends and businesses. As with PayPal, you can upload your Visa gift card to the app and then transfer the funds to your linked bank account. Like PayPal, Venmo does not charge a transfer fee for a standard transfer, but charges 1% for an instant transfer.

5. Use It to Buy Groceries

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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.

Ways To Convert Your Visa Gift Cards To Cash

Visa offers prepaid gift cards you can use for any special occasion. Whether its a birthday, wedding, or holiday, these cards are a welcome exchange.

Since they are monetary in nature, the question arises can I turn a gift card into cold hard cash? Anyone can convert a Visa gift card to cash, but you have to do it in a specific manner.

Allow me to explain in detail how you can perform this action. Before I start, I should let you know the type of Visa gift cards that can be converted.

This post may contain affiliate links. That means if you purchase an item through these links, I may earn a commission at no additional cost to you. Please read the full disclosure policy for more info.

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How Do I Transfer Money From My Visa To My Bank Account

You can ask the teller to withdraw funds from your credit card and deposit them into your bank account. The second option is to do the same process yourself at an ATM. Youll put your credit card into the machine and withdraw cash. Then you can start another transaction and deposit the funds into your bank account.

Do Visa Gift Cards Work On Cash App

How to Turn PREPAID Visa/Master Cards into CASH (Using PayPal)

Cash App does not allow VISA gift cards as a payment option since Cash App does not accept Prepaid and Gift cards. Gift Card Credit can only be used to purchase items online it cant be used in the Cash App directly but can be transferred indirectly.

When you try to add your gift card to your account, a message will pop up displaying that prepaid cards are not supported by Cash App and cannot be added as a payment method on Cash App.

So, if you have a $x visa gift card, you can still load the funds from the gift card to your Cash App but in an indirect and multi-step process kinda way.

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Transfer The Amount To Paypal

A great way to convert your Visa gift card to cash is to use PayPal to transfer the money.

You can add Visa gift cards to PayPal and then use the balance as cash at retailers that accept PayPal as payment.

Its one of the easiest methods to use to exchange Visa gift cards for cash if you have a PayPal account so definitely consider using this method.

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Buy Something And Flip It Online

Another great way to convert your Visa gift card into cash is to get into flipping!

This is the most time consuming way to get cash for your Visa gift card, but its also the only one that can actually make you a profit.

To start, purchase a highly discounted item or something youve purchased below value at a thrift store or online retailer than accepts Visa gift cards.

Afterwards, list that product on an online resale marketplace like eBay or Mercari for more than you paid.

Make sure to list the product below retail so its an enticing offer for potential buyers, but still high enough that youre making back more than you spent.

After making a sale, you can also put your profit into buying another item to flip and start an entire flipping side hustle!

Some popular resale websites and apps you can try include:

  • Poshmark Ideal for selling apparel and accessories.
  • Mercari A general resale marketplace thats very easy to use for sellers.
  • Depop A vintage and trending fashion marketplace thats great for content creators and influencers.
  • SidelineSwap The best marketplace for selling sports apparel and equipment.

Again, this option for turning your Visa gift card into cash takes the most time, but it also lets you start making money online if you get into flipping, which is a plus.

Extra Reading The Best Websites & Apps Like Poshmark.

Purchase A Money Order

Bitcoin Debit Cards

Chains like Walmart and certain groceries stores let you purchase a money order with your Visa gift cards, which you can deposit directly into your bank account.

Not all places offer this, so check multiple locations before you find somewhere that offers money orders.

You also have to create a PIN for your card beforehand and the transaction will include a small fee.

Ultimately, if somewhere near you offers money orders, this is one of the simplest ways to get cash out of a Visa gift card.

Also, avoid doing this too frequently, as banks may suspect criminal activity and can sometimes close accounts that deposit money orders regularly.

Read Also: My Cabelas Club Visa

Sell Gift Card On Raise App

One way to convert a Visa gift card to cash is to use an app. There are many apps that buy the card from you, then resell it for a profit. This method can be a fast way of converting those Visa gift cards into cash.

However, a word of caution to bear in mind. The fees involved can be high which means this method is best if no others are available or if you need the cash quickly.

A great app to use is offered by Raise. The Raise app is available on App Store and Play Store. Once downloaded you can easily sell your gift cards, but Raise does take a 15% commission. When you sell a gift card on Raise you can get paid via PayPal, check, or straight into your bank account.

Related: 33 Awesome Apps That Pay You

Are Visa Gift Cards Traceable

The transactions themselves are traceable as they are tracked by Visa but it is another thing when it comes to tracing the user. This is because there is no name or contact information connected to the card.

Having said that I should still add that one can still trace the buyer of a gift card easily if they bought it using a debit card or using their bank account.

In this case, the seller or law enforcement can be able to track you through your card details or bank details used during the purchase. But if you use cash to purchase the gift card it would be difficult to trace the purchaser.

Another way law enforcement or others can track the user of a gift card is through the IP address of the computer used to do a transaction. Most people dont know that almost all the transactions we do online leave a digital footprint.

Even the emails we send leave a digital footprint in the form of the IP address from which it was sent. It does not matter whether you are using Gmail or yahoo mail. Another way an investigator can trace you is through the mailing addresses you use when doing your purchases.

Also Check: Tdbank.giftcardinfo

Give Them Out To Friends Instead Of Cash Or Gifts

If you get a Visa gift card there is nothing to prevent you from passing it on to others too. After all it is not in anybodys name so legally anyone can use it.

For example, if one of your friends is celebrating a birthday you can give them your Visa gift card as a birthday gift. IIn this way you will avoid the hassle of going to shops trying to look for things to buy. This is especially cool for a person like me who hates shopping.

I like giving people Visa gift cards rather than actual gifts as they allow the receiver to buy the things they really want. During birthdays people end up receiving gifts of things they already have. I remember during my wedding we received all sorts of things such as plates that we really did not need. I wish people had given me Visa gift cards instead.

Another advantage of sending Visa gift cards is the cost of sending them is much less than sending a shoe for instance.

Simple Options To Convert Visa Gift Cards To Cash

HOW TO TURN PREPAID VISA CARDS AND GIFT CARDS INTO CASHPREPAID2CASH
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Receiving gift cards is great but making sure youre actually able to use the balance is the best part of all. Thats why seeing how to convert Visa gift cards to cash can be a great way to make sure that you use whats on the card with the added flexibility of being able to spend the balance anywhere!

Perhaps you were given the card as a gift or you bought it as part of a promotion. The latter is pretty common, as youll often find stores that offer discounts or bonus deals if you buy Visa gift cards from them. This can, in turn, save you a good amount on the actual value stored on the card.

You could even have gotten it by having earned it yourself! Sites like Swagbucksoffer this from time to time, by letting you earn Visa gift cards for free by watching videos, playing games and searching the internet.

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But now that youve got the card, you may be struggling to figure out what to do with it. Or you could just prefer to have straight up cash to be able to use it how you want.

  • Final thoughts on converting Visa gift cards to cash
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    Give The Visa Gift Card Away As A Gift

    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.

    Swap Gift Card For Cash

    A simple way to exchange a gift card for cash is to swap the card for the cash amount. You may have friends or family members that need to buy something and can use that specific gift card towards it. As they were going to spend the money anyway, they could just use the gift card instead of cash.

    This is a win for you as you now have the cash in your bank account to use yourself.

    Offering this deal to friends and family may work better when you know specific events are happening that usually include gift-giving. This could be Christmas, birthdays, weddings, etc. At these times ask around to see if anyone can make use of a gift card in exchange for the cash.

    One reason people may decline is that the gift card balance isnt high enough. For example, the gift card balance is $50 but they plan to spend $100. This is OK. Simply let them know that retailers can usually do a split tender transaction. A split tender transaction means part of the balance is paid using a gift card and the rest can be paid with cash.

    Swapping a gift card for cash in this way is a great method as it means you get the full amount of cash. That cash can now be used for savings, investing, or paying off debts.

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