How To Get Cash From A Prepaid Visa Debit Card?
Give this article a read and find out how you can get cash from a prepaid visa debit card?
If you want to discover how to get cash from your prepaid Visa debit card, you’re in luck! In today’s cash-driven world, having the flexibility to access funds from a prepaid Visa debit card is essential.
There are several convenient ways to turn your card balance into actual cash. One of your options is depositing the funds directly into your checking account, expanding your cash withdrawal possibilities even further.
You shouldn’t have to pay additional fees to access your money. While many prepaid debit cards charge fees for loading and withdrawing funds, we aim to provide fee-free solutions.
Unlike traditional bank accounts, prepaid cards spare you from overdraft fees. However, it’s worth noting that certain cards offer optional overdraft protection, which may come with fees if not promptly resolved.
Rest assured; we’ll explore all these aspects to ensure you make the most of your prepaid Visa debit card without unnecessary charges or complications. So, say goodbye to limitations and embrace the convenience of turning your prepaid Visa debit card into cold, hard cash.
Can You Transfer Money From A Prepaid Card To A Bank Account?
To ensure whether your card allows transferring funds to your bank account, the first step is to verify its capabilities. In most instances, transferring money from a prepaid card to a bank account is possible. However, the specific method you can use depends on your prepaid type. There are two categories of prepaid cards.
- Regular Prepaid Card
- Prepaid Gift Card
Transfer Money From Gift Cards To Bank Accounts?
Selling a Visa gift card to an individual or specialized website that buys gift cards is the most direct method to convert it into cash. However, the amount received may not be the card’s total value, so alternative approaches yield higher returns.
Various methods exist for converting the balance of a Visa gift card into cash. Some options allow you to receive physical cash. Conversely, other methods enable you to utilize the card in a way that mimics cash transactions.
Alternatively, a few methods involve transferring the funds from the Visa gift card to your bank account. Subsequently, you can withdraw the money as cash.
The result remains the same when deciding which option to obtain cash from your Visa gift card. The determining factor becomes a matter of convenience and cost-effectiveness.
1. Use your Visa gift card to buy other merchants’ gift cards
If there is a specific store where your Visa gift card is not accepted for purchases, you can use the gift card to purchase a gift card from the store where you intend to make a purchase. By doing so, you may find discounted gift cards available online, sometimes up to 20% off. You can earn 20% of the Visa gift card balance for free.
This strategy can be applied to various stores such as Amazon, Walmart, or Starbucks if you want to convert your Visa gift cards into cash for a caffeine fix. Furthermore, you can maximize the benefits by taking advantage of deals on Amazon gift cards, allowing you to earn free Amazon credit.
Alternatively, you can explore earning gift cards for these and many other stores by signing up for apps like Swagbucks. Utilizing such apps allows you to accumulate gift cards without spending any money, essentially warning you of free coffee or other rewards while indulging in phone-based procrastination.
2. Add it to your PayPal wallet
PayPal lets you add prepaid cards, including Via gift cards, to your PayPal wallet. This means you are ready to deal with the balance like money by utilizing it to buy things from any vendor that acknowledges PayPal (the most major one nowadays). Doing this lets you transfer the cash to your connected ledger or send the money on your gift card to other PayPal clients. Watch out for the charges if you do this, equating to up to 3% of your transfer.
A far simpler approach to bringing in cash to put towards your PayPal account is to pursue a free money-back application like Ibotta. You can cash out your income, including the $20 reward you will get only for joining, on a PayPal gift voucher, essentially similar to getting cash.
To acquire cash from a Visa gift card to PayPal accounts, do the following:
- Sign in to your PayPal account.
- Select the “Wallet” option present at the top of the page
- There should be a choice to “Link a card or bank” on the left. You will have the opportunity to locate this under any current cards or banks you have linked. Click on this and proceed through the prompts.
- At the point where PayPal approaches you for the applicable data, add the details of your Visa gift card. Then click on “Link Card.”
- You may get into a blunder when attempting to do this. If that transpires, you may need to initially enlist the card with the backer so a location is connected to the Visa gift voucher.
- From that point forward, PayPal ought to have no issue tolerating it.
3. Add it to your Venmo account
You can put your Visa gift card balance on your Venmo account, like PayPal. Also, this is a superior alternative to PayPal if you intend to move the cash to your record as cold, hard cash. This is because Venmo does not charge any expense to move some money from your Venmo record to your ledger, except if you select the Instant Transfer alternative. Otherwise, the cash should appear in your record within one to three business days. To do this, go into the Venmo application and discover the choice that lets you add gift vouchers. You may get an admonition message here for misrepresentation anticipation, so either attempt again or call Venmo client support at their helpline to check whether they can clear up the issue.
4. Pay your bills with your Visa gift card
Utilizing your gift card to take care of a tab is equivalent to changing your Visa gift card to money – even though you will never see the cash. Recollect that because the Visa gift voucher is dealt with the same as a credit card, you will additionally bring about any credit card expenses, so ensure you figure it out to affirm that it is justified, despite all the trouble.
5. Go to a Gift Card Exchange Kiosk to trade it in
One straightforward approach to changing over Visa gift cards to cash is to discover a Gift Card Exchange Kiosk. They are generally yellow; you can frequently find them in shopping centers and stores. You should enter your gift card’s data into the stand, which will incorporate things like the arrangement of numbers on the facade of the card. At that point, you will be given a scope of offers to decide which one you need. Whenever you choose, you will be given a voucher to take to the clerk to get your cash.
6. Sell your Visa gift card through an app
Another choice is to sell your Visa gift voucher on different applications that will get it from you to exchange it. While this is a quick method to change over your Visa gift vouchers to money, the expenses are genuinely steep, so this is your last choice if the others are not workable for unknown reasons. For instance, Raise has an application that does this for iOS and Android, even though they will take a 15% commission. A similar one is Prepaid2Cash, another site with an iOS and Android application to exchange your Visa gift card for money. This one works slightly differently because:
- First, you reveal to them the brand of the gift voucher (for this situation: Visa)
- At that point, they send you a proposal through the application for the card.
- You do not commit to acknowledge this offer, but once you do, they will store it in your record for up to five business days.
- This implies that the expenses they charge are consolidated into the offer, which is partially direct. They state, nonetheless, that the request will be up to 92% of the card balance, which means the charges are, in any event, 8%.
7. Convert your Visa gift card to cash by selling it on a website
There are a lot of sites that will pay money for your Visa gift voucher. Notwithstanding the ones referenced that have applications for this, there are others like Gift Card Granny and CardCash, and that’s just the beginning. On the off chance that your gift voucher is advanced, at that point, the cycle can be quick. Regardless of whether you have a card, some destinations will pay for your postage to send them the card, so you would not lose any cash on that front. Like with the applications, the destinations will take an expense dependent on the card’s equilibrium level, so ensure you realize precisely how much this is before consenting to the deal. Likewise, it tends to be a smart thought to do a few looks for the site you are considering utilizing to get the most exceptional surveys on whether others have had a decent involvement in them.
8. Use it to buy a money order
Certain retail establishments like Walmart and specific markets offer the option to purchase cash orders using a Visa gift card. However, the availability of this service may vary, so it’s advisable to check if it’s available in your area. Once you have confirmed its availability, you can deposit the cash order into your bank account and use it as regular cash. It’s important to note that some banks may close accounts if they notice excessive deposits of cash orders. Therefore, combining this method with other options mentioned in this list is recommended if you choose to utilize it.
9. Give them out as gifts
One approach to changing Visa gift cards to cash is utilizing them like money. We referenced things like using them to cover tabs; however, you can give them as a present. This can be an incredible option in contrast to providing somebody, state, cash in a card or a store-explicit blessing voucher.
10. Turn your Visa gift cards into cash by buying and reselling items
This may take a few extra steps; however, it could be the main other alternatives on this rundown that lets you bring in cash from changing your Visa gift cards to money (notwithstanding purchasing dealers’ gift vouchers). As referenced, most stores treat Visa gift cards like charge cards. This implies that you can, by and large, utilize them to purchase things at practically any store, so watch out for items that are either intensely diminished or popular. In the two cases, there is a decent possibility you might have the option to exchange the thing at a greater cost than what you paid. Thus, in the end, this will let you get money from your gift card.
11. Sell your Visa gift card to other individuals
Consider selling your Visa gift card to individuals as another viable option. While this method provides quick access to the card’s balance, it’s important to note that you may need to accept a lower amount than the card’s full value to entice buyers.
When people purchase gift cards from others, they only pay a fraction of the card’s balance. This is because they understand the convenience of you offloading the card in this manner, and there is also a sight risk involved for the buyer.
Platforms like eBay or Craigslist are suitable for such transactions. Remember to account for shipping costs if you are selling a physical card. Additionally, exercise caution on these platforms to avoid falling victim to scams. If a deal appears too good to be true, it likely is.
12. Exchange your Visa gift cards for cash through GiftCardBin
GiftCardBin is a reputable retailer that offers compensation for unwanted gift cards. With a vast network of over 600 partner locations across the United States, including check cashing stores and pawn shops, you will likely find a convenient option near your location.
By visiting their website, you can search for the nearest partner location by entering your city, state, or zip code. Remember that the payout you receive from GiftCardBin may not be the total value of your Visa gift card, as their offers typically range up to approximately 70% of the card’s balance. However, converting your Visa gift card into real money remains reliable if you require immediate cash.
13. Visit a pawn shop to sell your Visa gift card
Pawn shops are known for providing quick cash solutions, and they are also open to purchasing Visa gift cards in exchange for money. Even if the pawn shop is not affiliated with retailers like GiftCardBin, they will likely show interest in buying your unwanted gift card.
Be aware that the amount you receive from a pawn shop may be significantly less than the entire balance of your card. Consider it a favorable outcome if you secure half of the card’s value.
If your need for immediate funds is genuine, selling your Visa gift card at a pawn shop remains a viable method to obtain cash.
How To Get Cash From A Prepaid Visa Debit Card?
Withdrawing cash from your prepaid Visa debit card is a breeze. Simply insert, tap, or swipe your card at the reader and request cash back—some terminals automatically offer this option, while others require you to indicate your preference.
Your prepaid debit card functions wherever credit or check cards are accepted. If you’ve been using it hassle-free at various locations, you likely possess a standard prepaid card. But how do you access cash with it? The most efficient method involves utilizing remittance services like MoneyGram.
Here’s why MoneyGram is our top choice:
-
- Security: MoneyGram, operational since 1940, stands as the world’s second-largest money transfer company, ensuring your transactions are safe and protected.
- Speed: Opting for the Debit Card Deposit option guarantees you receive your cash within minutes, facilitating quick access to your funds.
- Affordability: Enjoy low fees starting from just $1.99, making MoneyGram a cost-effective solution for accessing your prepaid card funds.
- Reliability: Countless individuals have successfully leveraged this method, demonstrating its universal compatibility with virtually any prepaid card.
The following steps show how you can transfer cash from your prepaid Visa debit card to your bank account using MoneyGram:
1. Sign Up For An Account At MoneyGram.Com
Click on the ‘Sign Up’ option on the MoneyGram website to create an account. You will be using your email address to create the account. Moreover, you might have to give some photo identification to confirm that you are a legitimate person.
2. Proceed to the ‘Send Money’ page and provide the necessary payment information
Once you have registered, locate the “Send Money” option in the menu and click on it. This action will direct you to a new page.
- Enter the desired amount of money you wish to send.
- Choose the option for Debit/Credit Card.
- If the “Account Deposit” option is available, select it. If not, choose the “Debit Card Deposit” option instead.
Selecting the “Account Deposit” option requires a debit card linked to the bank account where the money will be sent.
3. Complete Your Bank Details
After completing the above steps, proceed to fill in your bank details. Upon clicking “Next,” you will be redirected to another page where you must enter the receiver’s information, including their name, address, and account or debit card details. Once you have entered this information, click the “Next” option.
According to MoneyGram’s website, many account deposits are processed quickly, depending on banking hours and system availability.
How Much Money Can You Put On A Prepaid Visa Card?
Regarding prepaid debit cards, one of the biggest headaches can be limits on the balance you can carry. If you’re having your paycheck automatically added to the prepaid card and are good at saving money, you could easily hit a limit that creates problems for your money management strategy. So we’ve pulled together a list of the best no-limit or high-limit prepaid debit cards you might consider if you want to avoid this issue.
1. PayPal Prepaid Mastercard – $15,000
Daily spending limit: Up to $5,000 per day
You can withdraw: Up to $940 daily at an ATM.
2. Brink’s Prepaid Mastercard – $15,000
Daily spending limit: $5,000 per day
The amount you can withdraw: It does not offer free ATM withdrawals, but you can withdraw up to $940 daily after paying the ATM fee.
The amount you can load: Up to $7,500 per day in cash.
3. Netspend Prepaid Visa – $15,000
Daily spending limit: $4,999 per day
The amount you can withdraw: $940 per day at an ATM
The amount you can load: Up to $7,500 in cash in a day.
4. NexsCard Prepaid Visa – $20,000
Daily spending limit: Up to $5,000 per day
The amount you can withdraw: $940 per day at an ATM
The amount you can load: $10,000 in cash in a day
5. CashPass Visa – $20,000
Daily spending limit: Up to $5,000 per day
The amount you can withdraw: $920 per day at an ATM
The amount you can load: $10,000 in cash in a day
Pros and Cons of Visa gift cards
Pros
- Convenience: Visa gift cards can be used as a cash alternative in most places, allowing for easy everyday purchases, whether in–person or online.
- Budgeting Aid: These gift cards are beneficial for managing finances and sticking to a budget. By loading a specific amount onto the card, such as $500 for monthly groceries, overspending can be avoided.
- Flexible Expiration: Most Visa gift cards have generous expiration dates, giving cardholders ample time to utilize them without feeling rushed.
Cons
- Fees: Visa gift cards often come with transaction and activation fees based on the card’s value. These fees reduce the card’s overall value, which can be inconvenient.
- Limited Merchant Acceptance: Not all merchants accept Visa gift cards, especially street food vendors or cash-only businesses. Keeping some cash on hand for situations requiring cash-only payments is advisable.
- Risk of Loss or Theft: Unlike debit cards that offer insurance and protection, gift cards typically do not provide such coverage. The funds can only be recovered if a Visa card is recovered or stolen.
- No Interest Accrual: Gift cards do not earn interest. If funds remain unused for a long time, they do not increase in value and may be subject to inflation. It is generally more profitable to withdraw the cash and deposit it into an interest-bearing account unless the funds are utilized promptly.
Which apps allow getting cash from gift cards?
CardCash
CardCash offers a convenient solution for exchanging gift cards by providing options to receive payment through check, ACH, or PayPal transfer. To sell your gift card, visit their website, select the “Sell Gift Cards” option, and provide the necessary card details.
CardCash will then evaluate your card(s) and make an offer, which they will pay you for. Alternatively, you can trade your gift card with a preferred seller and earn up to 11% more. With an average consumer rating of 3.21 stars, sellers generally express satisfaction with their transactions.
Raise
This platform offers you to sell gift cards and receive your earnings through direct deposit or PayPal. By setting your selling price, you can determine the value you wish to receive when your card sells. Raise also provides a mobile app that grants members discounts on purchases and opportunities to earn rewards.
GiftCardBin
GiftCardBin facilitates the purchase of gift cards both in person and online. If you’re seeking immediate cash from GiftCardBin, you can enter your ZIP Code to obtain a list of nearby locations to exchange your cards for cash quickly.
GiftCardBin allows you to visit one of its locations in a 10-mile radius for instant cash or sell your card online and receive a deposit to your checking account, Venmo, PayPal, or Cash App. It’s important to note that in-person purchases generally offer lower amounts than online transactions.
How can I use a Visa gift card?
To use a Visa gift card effectively, follow the following steps:
-
Determine your preference:
Decide whether to keep or convert the card into cash. While Visa cards can be helpful in specific situations, some prefer cash assets.
-
Activate the card:
If you keep it, follow the instructions on the back to activate it. This typically involves calling a specified number or activating it online. Remember, the card will only work once it has been activated. As a cardholder, you usually won’t be charged an activation fee unless you purchased the card for yourself, in which case the cost may apply.
-
Note the initial balance:
It’s wise to record the starting balance of the card so that you have an idea of how much you have available to spend. This prevents situations where you accidentally exceed the card’s balance, leading to declined transactions. Whether you’re rushing to purchase a train ticket or dining at a restaurant, always be aware of the approximate balance to budget accordingly and avoid potential embarrassment.
-
Treat it like cash:
Consider the Visa gift card equivalent to cash. Store it securely in your wallet and utilize it for various purchases, from food to accessories. You can use it for a one-time transaction or as a debit card until the funds are depleted. This approach provides flexibility and convenience while you’re on the go.
-
Utilize the remaining balance:
Towards the end of the card’s lifecycle, there may be a small remaining balance, often less than $5. In such cases, you can request the merchant to deduct that balance from your bill and transfer the rest to another card. Alternatively, you can visit a gift card exchange kiosk and redeem the remaining amount for cash.
Pro Tip: A practical method to ensure the full utilization of your gift card is to make a purchase that exceeds the card’s total value. For instance, if you possess a $100 gift card, you can go to a grocery store and pay a bill of $125. This way, you can utilize the entire balance of the gift card and charge the remaining $25 to a different card.
How To Withdraw Money From A Prepaid Card?
To withdraw money from a prepaid account, follow these steps:
- Find a certified ATM associated with the bank that issued your prepaid card. Alternatively, you can use any ATM displaying the network brands on your card’s back.
- Insert your prepaid card into the ATM and enter your personal identification number (PIN).
- The ATM will display the withdrawal fee. At this point, you can decide whether to proceed with the transaction or cancel it.
- When prompted, select the “checking” option to indicate the account you want to use.
- If, for example, you plan to withdraw $20, but there’s a $3.50 fee, the total withdrawal amount will be $23.50.
Can You Transfer Money From A Gift Card To A Debit Card?
It is not typically possible to legitimately transfer money from a gift card to a debit card. Nonetheless, you can do a few things that can let you do that, given that you add a couple of additional steps in the middle. For instance, if you add your Visa gift card to your PayPal wallet and, at that point, transfer that cash to your account, you will have access to that money through your debit card.
FAQs
How do I cash out a prepaid debit card?
Prepaid debit cards can be a great alternative to traditional checking accounts, especially if you don’t have access to a conventional bank. However, one of the drawbacks of prepaid debit cards is that they may not offer all of the same features as a checking account, such as the ability to write checks or use an ATM.
What is a Vanilla Visa gift card?
A Vanilla Visa gift card is a prepaid debit card that can be used for making purchases. It is not linked to a bank account or a specific individual. These gift cards are usually purchased with a particular dollar amount loaded onto them, and the recipient can use them to make purchases at any merchant that accepts Visa cards.
What are some of the best ways to earn gift cards?
One way to earn gift cards is by participating in online surveys through Swagbucks, Survey Junkie, or MyPoints. These sites offer rewards in the form of points or gift cards for sharing your opinions. Another option is to use cashback apps such as Rakuten, Ibotta, or Honey, which provide rewards or cashback in gift cards for shopping through their platforms. Additionally, joining retailer loyalty programs or credit card reward programs can help accumulate points for purchases and redeem them for gift cards, such as Amazon Rewards and Starbucks rewards or credit card reward programs.
Can you exchange a Visa gift card at Walmart?
Yes, you can exchange a Visa gift card at Walmart. However, you will need to have the card activated to do so. To activate your card, flip it and call the customer service number printed on it. Once the card is activated, you can use your Visa gift card like any other credit or debit card.
Can Visa gift cards be converted to the Cash App?
Yes, you can convert a Visa gift card to the Cash App. However, you will need to have the card activated to do so. Just turn your card over to activate it and call the customer support number printed on it. Once the card is activated, you can use it just like any other credit or debit card.
Can you use a Visa gift card at an ATM?
Yes, you can use a Visa gift card at an ATM. However, you will need to have the card activated. After activating it, you can use your Visa gift card at an ATM.
How to get cash from a Vanilla gift card?
You can get cash from a Vanilla gift card in several ways. One way is to go to a Vanilla Visa website and enter your card information. This will allow you to request a cash advance. Another way is to find an ATM that accepts vanilla Visa cards and withdraw cash from your account. Finally, you can also use your Vanilla Visa card to purchase online or over the phone and then request a cash-back option.
Can Visa prepaid be used at ATMs?
You can use your Visa prepaid card to withdraw cash from an ATM or check your balance. You must create a PIN for your card before using it at an ATM. To do this, you must call the customer service number on the back of your card and follow the instructions.
How do I withdraw money from my Visa debit card?
If you have a Visa debit card, you can withdraw money from your account by going to an ATM or using the “Cash Back” feature at a retail store. To withdraw money from an ATM, insert your card and enter your PIN. The ATM will dispense the cash you request, plus any applicable fees.
Final thoughts on converting Visa gift cards to cash
Converting Visa gift cards to cash might seem like a daunting task, but fear not! There are several strategies you can employ to turn those prepaid Visa debit cards into cold, hard cash. In this article, we’ll explore various tips and tricks to help you navigate this process smoothly and efficiently.
While it may require some effort on your part, rest assured that there are viable options available for transforming your prepaid Visa cards into cash. From creative techniques to established methods, we’ve got you covered with actionable insights to make the most out of your cards. Let’s dive in and discover the best ways to cash in on your Visa gift cards.
