Updated on August 14, 2022
Gift cards are great, but if you don’t use them at the right store, they’re almost worthless. There are times when a gift card can be used to send funds to your PayPal account.
People who wish to give their loved ones the gift of choice can choose a pre-loaded card. Why don’t you try it?
You may get into trouble, though, with a gift card to a store where you can’t find anything of interest.
Instead of letting the money go to waste, it can be transferred to another online programme like PayPal and utilised there.
In this article, we’ll go through a few alternative ways to transfer money from gift cards to PayPal. You will also learn how to transfer the leftover funds to your bank account, so you can use them as desired.
Begin the festivities.
How To Transfer Money From Gift Card to PayPal Balance?
Converting gift cards to cash is a straightforward process thanks to PayPal. To use after you’ve received an unwanted or unused gift card, or when you can’t find anything of interest at the retailer with which it’s affiliated.
So, you’re not going to just throw away your hard-earned money?
You can transfer the money to your PayPal account by utilising CardCash and then using it.
Assess your internet connection speed and reliability. After that, go to www.CardCash.com on your browser’s address bar.
Include the name of the gift-card holder as well as its value in your letter.
Select the “Get Offer” option from the drop-down.
Wait for the message that tells you how much of the gift card’s balance you can transfer to PayPal to be shown before attempting to transfer funds.
The decision to accept or reject this offer is totally in your hands. You have the option to continue or not.
After that, you’ll need to input the card number and the PIN you set up.
PayPal can be accessed by clicking the PayPal icon.
Use the PayPal website or mobile app to log in to your account.
All of the required fields must be completed.
Get My PayPal Balance is now active.
The gift card store and your PayPal account will now be able to exchange your gift card. A few hours is usually all it takes for you to get your money.
How To Share Money On Visa/Mastercard Gift Card to PayPal?
PayPal also accepts transfer from Visa or Mastercard gift cards. These are versatile and quite different from store-specific cards like the ones you can buy from eBay, Amazon, or Walmart.
Needless to say, the process of transferring money is a bit different as well. Here’s how it works.
- Open your PayPal account and tap on Profile button.
- Click on Add or Edit Bank Account. You are here to link your bank account with PayPal account.
- Now provide all the necessary information such as your account number.
- Your bank will link with PayPal. You can check by first making a micro-transaction.
- Now get in touch with customer support service at the bank or visit their nearby branch.
- Inform bank teller that you wish to transfer the funds on your Visa gift card balance to bank account. Wait for the said amount to be sent over.
- Open PayPal account again and tap on Add Funds.
- Then click on Add Funds From The Bank Account.
- Fill in the amount that you wish to transfer. Tap on Continue.
Using bank account as mediator is a common way to exchange funds between different apps. The process is safe, quick, and easy to manage.
How To Add Money From Amazon Gift Card to PayPal Account?
Before you begin to transfer money from Amazon gift card to PayPal, you need to link these two together. After that, the card can support all sorts of transactions. Let’s take a look at how that works.
- Open your PayPal account by providing the login credentials.
- Tap on Wallet. The option will be visible at the top of the page.
- Then click on Link a credit/debit card.
- Choose Debit Card and enter its card number, expiration date, address, CVV, and other data if required.
- Click Continue.
This will complete the process. Now you can easily send funds from Amazon gift card to PayPal whenever you want.
Is It Possible To Transfer eBay Gift Card Balance to PayPal?
eBay gift card is another popular choice that users stick to. However, next time you plan on gifting it to your loved ones, keep in mind that it is not possible to send money from eBay card to PayPal.
- This means the eBay card can only be used to show at eBay.
Although it is a great pick for someone who is interested in majority of the items for sale there but if you want to keep the horizons open, it is better to go with other gift cards that allow the balance to be shared to PayPal or other payment apps.
How To Send Gift Card Balance To a Linked Bank Account?
In the event that you prefer to pay with cash rather than using a gift card, there is an option available. In this instance, it’s necessary to use third-party software. The best option for us is Square.
Call the number on the back of your pre-loaded gift card to activate.
To access your Square account and transactions, you’ll need to enter your Square username and password.
Tap Square Settings in the app’s settings to enter your banking information.
Followed by the gift card number and expiration date on the Square App, please. Square’s card reader* is an alternative you might want to consider.
Your payment card information can be processed by Square.
Within 24 hours of purchasing the gift card, the amount you specified will be deposited into your bank account.
Additional fees apply if you use a card reader. This represents a 2.75 percent savings over the 3.5 percent + $0.15 per submission manual fee.
If you use a Gift card to transfer money from one financial institution to another, the transaction can take up to three business days.
Debt or gift cards do not allow you to transfer money. In this circumstance, transferring money from one debit card to another does not work as expected.
Attention! Please contact us if you’d want to exchange a gift certificate for a case. At a neighbouring kiosk, the plastic can be exchanged for cash.
For The Newbies: What Is a Gift Card?
It traces back to 1994!
The founder of Neiman Marcus Group was the first one to offer gift cards to his clients.
He did not plan to advertise them but the strategy of using such cards to increase customer loyalty really worked and many other companies followed the lead soon afterwards.
Gift cards are now widely available at many stores and you can even purchase the cards online with your checking account.
What got gift cards so famous? Well, for the brands, they tend to deliver many benefits. Gift cards help to create brand awareness, and improve cash flow. Not to forget that they are definitely attractive to customers!
Note! Large stores like Amazon even use gift cards to gather information about the sale of different commodities. Purchases through cards highlight customer’s shopping trends so stores can figure out which items they need in larger amount.Open-Loop vs Closed-Loop Gift Cards
There are two types of gift card.
- Open-loop.
- Closed-loop.
Typically, banks or credit unions provide open-loop gift cards. This means you can use the card to pay different merchants and at different stores.
On the other hand, card given out by specific store such as eBay is known as closed-loop gift card. You can not use it anywhere else.
Consequently, some cards are reloadable while others can only be used once. When such cards expire, you can not top up more money.
Gift cards come in all shapes and sizes. You can buy plastic cards for your loved ones or even send them a virtual one via mobile phone or email.
Attention! Virtual Visa gift cards are accepted worldwide.
Then the recipient can purchase items via gift card on social apps and online stores instead of getting in long queues at stores.
Gift Cards Payments and Use
Similar to reliable credit cards, gift cards also have a specific number printed on them. However, this does not typically link to an account. You can still secure your virtual card through a PIN.
Reloadable gift cards carry actual money that you have topped up. You can use these to purchase items online or transfer money using the routing and account number.
Cards with one-time payments only can be used at specific stores. Once they are exhausted, you might as well throw the useless plastic away.
If you are new to shopping via gift cards, here’s how the process works.
- Get your gift card from a retail store or use the one you got from a family member or a friend.
- Add the required items to cart in-store or online.
- Hand over the gift card at the payment counter and wait for the merchant to run it through the electronic system.
Card readers utilize serial numbers, barcodes, and magnetic strip to deduct the amount from the card. If it was a reloadable card, you can top up the amount later, otherwise you need to keep a check on the remaining balance.
Card issuers store the relevant information and value of the card in their database. Other data is also encrypted and secured so scammers can not make a copy and dodge new buyers.
Wrap Up
Gift cards come in handy when you don’t want to carry around cash. If you know how to use a tool like PayPal to transfer the funds, you can use the funds at any retailer of your choosing.
For the first time, you won’t be limited to purchasing goods and services where your credit card is accepted. Wow, isn’t that amazing?
All of your inquiries about how to transfer the balance of a gift card to a PayPal or bank account should have been answered here. Let us know what we’ve overlooked in the comments section below. What a great opportunity! I can’t wait to hear about it!
Frequently Asked Questions About How To Transfer Money From Gift Card To PayPal
Is it feasible to send money to PayPal using a gift card?
Yes. PayPal does accept gift cards as a payment method, but only if you use a specific type of gift card. Amazon and Visa cards can be used to transfer the balance to a PayPal account, but not eBay.
How can I transfer funds from a linked Visa gift card to my linked bank account?
To execute this task, you’ll need a third-party application. For us, Square is the greatest choice. Enter your Square username and password to access your account information and transactions. In the app’s settings, tap Square Settings and enter your bank account details.
Using the Square App, enter the gift card number and expiration date next. As an alternative, you might utilise the Square card reader. You can let Square handle the processing of your credit card information. The amount you specified on the gift card will be credited to your bank account within 24 hours.
It’s also possible to use this way to deposit money from a gift card into your bank account.
If a gift card’s value is still available, may it be exchanged for cash?
At the kiosk, you can exchange your gift card for cash. These points can be found in supermarkets. The kiosk will provide you a discount rather than the entire balance of your card. Accepting or rejecting the offer is entirely up to you.
With my eBay gift card money, what can I do?
PayPal does not accept money from an eBay card. As a result, the eBay card is only visible on the eBay website.
