Do you have a Visa gift card that you wish to exchange for cash? Here are several easy methods you can use to convert Visa gift cards to cash.
8 Easy Ways to Convert Visa Gift Cards to Cash
Visa gift cards are a great way of saving on shopping. Most are sold during promotions where stores offer incentives for shoppers to buy and use them. However, sometimes people need to convert a Visa gift card to cash.
Well, no cause for alarm. If you wish to convert your Visa gift cards to cash, there are numerous ways to do it. In this article we will explore the most feasible ways available to convert that Visa gift card to liquid cash.
But why would you want to convert your Visa card? Well, there are a number of reasons why someone may wish to do this.
If you are like me and check your net worth on Personal Capital daily, you likely think gift cards are a waste of time and space. Why carry virtual money when you can have cold hard cash to invest or pay down debt?
These Visa gift cards cannot be used to withdraw money at an ATM, which therefore makes them somewhat inflexible.
You might also be using any of a handful of awesome ways to get Visa gift cards for nearly free:
- Opinion Output – Use my link and get $10 free when you sign up. It’s 100% free to join.
- Swagbucks – Get $5 completely free if you join using my link. This is also 100% free to join and use.
- Rakuten – Get $10 completely free if you use my link.
- Drop App – Link your credit and debit accounts and get $5 free when you use my link.
It’s so easy to get free money from these sites, all you need to know is how to turn the gift cards that you get into hard cash.
Regardless of how you’ve acquired the gift cards or why you want to convert them, you can then use the below methods to convert Visa gift cards into cash. You can then use the cash to invest or pay down debt!
Easy Ways to Convert Visa Gift Cards to Cash
1. Trade in Your Card at a Gift Card Exchange Kiosk
A great option you can use to convert Visa gift cards to cash is a Gift Card Exchange kiosk. These counters are usually located in grocery stores, and you can identify them with their bright yellow color.
Here, you just need to insert your gift card’s data into the kiosk, wait for an offer, and decide whether to accept or not.
If the offer is favorable, you can accept and receive a voucher that you can take to a cashier and receive cash. To find the kiosk nearest to you, just search online and you are sorted.
2. Buy Money Orders
Some stores, including Walmart as well as various other grocery stores, allow you to purchase money orders using Visa gift cards. You can then deposit the money orders into your account and use the cash the way you desire. Generally, money orders can be deposited in a bank account as a form of money.
However, although this seems like a simple method, you must proceed with caution. Numerous banks are known to close down accounts if they notice too many money order deposits.
Therefore, be careful if you use this method.
3. Sell the Gift Cards
The most common method you can use to convert your Visa gift cards to cash is through selling them. You can sell the card in any of the following ways and make money.
Through a website
Some websites – such as MyGiftCards+, CardCash, Giftcard Zen, and Cardpool – will buy your Visa gift card in exchange for cash. In some instances, these websites will even send you prepaid postage that you can use to send the gift card to them.
Better still, if your gift card is a digital one, some websites will buy it instantly from you.
However, make sure you search for reviews about the website before making a deal with them.
These websites will likely give you just a part of the amount the Visa card is worth, but it’s a good percentage if you need the cash.
Using an app
Several buying companies also offer mobile apps from where you can sell your Visa gift card. For example, Raise has a mobile app on which you can simply sell your gift card.
All you need to do is download the app and send your card.
Then, you can choose the mode of payment you most prefer, either PayPal or check. However, the company will take 15% of what the card is worth as their commission.
Listing on eCommerce websites
Besides selling your Visa gift card through buying websites, you can also list it on eCommerce websites like eBay. This way, you can sell the card at the same price as its value, unlike the other websites which take a considerable cut of the total value. However, if you want to sell it fast, you can consider making the price slightly lower than the value.
One thing you should keep in mind is shipping cost if you will have to send the card.
Also, these eCommerce websites charge a small percentage as commission, although not as much as other websites.
Sell to a friend
If you have a friend who can buy the Visa gift card directly from you, then this might be the easiest way to get cash for the card. You can ask around in your groups of friends, who can also check with their friends.
Through this, you will evade the commissions you would have incurred if you sold the gift card online.
See Related: 36 Apps to Make Money
4. Use the Visa Gift Card to Pay Your Bills
The next method, which is as good as getting liquid cash, is using the gift card to cover your bills. 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 higher fees.
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.
See Related: 10 Ways to Get Money
5. Emergency Disposal Options
If it’s not possible to liquidate the Visa card through the above methods, you can use these two options, though with a fee.
Send money through services such as PayPal
Some service providers, like PayPal, are built to enable users to send or receive cash from other people with a fee.
Usually, PayPal charges a fee for transfers that is equal to 3% of their value. The good thing about this is that you can use prepaid Visa gift cards to send money in this manner.
This will solve your need of getting cash from the card, although at an extra fee.
Mobile payment solutions
Several mobile money service companies have payment readers that will allow you to accept payments from credit cards.
Through this, you can pay yourself with the Visa gift card and pay a certain fee to a merchant. Some caution though: this is not as easy as it sounds.
You have to be very careful to use this as an emergency option, as some companies will shut down your account if you abuse it.
In addition, if you use the merchant method to pay yourself, tax implications might occur. For this reason, its wise to consult a financial adviser before doing this.
6. Give out the Visa Gift Card as a Gift
Sometimes, you may be required to give a gift to a friend or a family member for special occasions such as weddings.
Since the prepaid Visa gift cards are usually bought in denominations of $100, $200 or $500, it can be an excellent gift and will essentially serve as cash.
Instead of giving a check, a Visa gift card is just as good.
See Related: 20 Best Side Hustle Ideas
7. Jour Cards Store
Jour Cards Store is an online payment and games e-shop. One of the many services available in the Jour Cards Store is the exchange of Visa gift cards for liquid cash. Since many people struggle to find a simple to exchange these cards, this is a significant relief for many.
The store incorporates a brand new idea of trading e-currency through various platforms such as Bitcoin and PayPal.
Jour Cards gives you 80% of the total value of the Visa gift card, and they take the other 20%. The company wires the 80% either to your purse or account email.
The whole process will take around 24 to 72 hours to complete. This is because their exchange department has to first test your gift card.
8. Buying Products to Resell
I know you’ve probably heard about this method, but if you haven’t, here is how it goes. The technique not only offers you a chance to get cash out of your Visa gift card, but you can also make some extra money. In essence, it’s about taking advantage of great deals.
Platforms like PayPal allow you to pay for products through prepaid gift cards, and various retailers accept online payments. Therefore, you can make an online or in-store purchase using Visa gift cards through PayPal.
If you spot a deal that is ideal for a product you can buy, you can do so and then resell the product at a profit or at a breakeven price to get your cash.
This can be a great option if you are able to get cheap deals for useful products that you can later resell.
See Related: Highest Paying Survey Sites to Make Money
Conclusion on How to Convert Visa Gift Cards to Cash
Sometimes you may have that Visa gift card, and you don’t want to go shopping with it. All you want is to get liquid cash from it to cater to some other bills.
Well, I hope that from this piece you can find an ideal way for you to convert Visa gift cards to cash.
Use Personal Capital to monitor your cash flow and assets. You can link up your checking accounts to ensure you are tracking your income and assets for free.
Have you found a method that suits your needs? Please share your views by contacting me directly. I am here to help.
- Ways to Make Money with Your Truck or Van
- Ways to Get Paid for Leaving Your Computer Running
- Effective Ways to Get Paid to Code Online