How To Get Cash From A Gift Card

2021-05-27

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How to Get Cash from a Gift Card

Gift cards can be a convenient way to give and receive money, but what if you need to convert them to cash? Here are seven important points to keep in mind:

Check the terms and conditions.
Sell it to a gift card exchange website.
Use a peer-to-peer payment service.
Buy items and return them for cash.
Use a gift card liquidator.
Redeem it for a store credit.
Donate it to charity.

By following these tips, you can easily convert your gift cards into cash and get the most value for your money.

Check the terms and conditions.

Before you try any of the methods listed below, it's important to check the terms and conditions of your gift card. Some gift cards may have restrictions on how they can be used, such as:

Restrictions on where the gift card can be redeemed.
Expiration dates.
Fees for converting the gift card to cash.

It's important to be aware of these restrictions before you try to convert your gift card to cash, as they may affect the amount of money you can get back.

In some cases, you may be able to find the terms and conditions of your gift card on the back of the card or on the website of the issuer. If you can't find the terms and conditions, you can contact the issuer directly to ask for a copy.

Once you have reviewed the terms and conditions of your gift card, you can start exploring the different methods for converting it to cash.

Sell it to a gift card exchange website.

Gift card exchange websites allow you to sell your gift cards for cash. The amount of cash you will receive will vary depending on the website and the type of gift card you have. Some websites will offer you a percentage of the gift card's value, while others will offer you a fixed amount of cash.

Check the website's reputation. Before you sell your gift card to a website, it's important to check its reputation. Read online reviews and make sure that the website is legitimate.
Compare the website's rates. Once you have found a few reputable websites, compare their rates to see which one offers you the best deal.
Follow the website's instructions. Once you have chosen a website, follow its instructions for selling your gift card. You will typically need to provide the website with the gift card's number and PIN.
Receive your payment. Once the website has verified your gift card, you will receive your payment via PayPal, direct deposit, or check.

Selling your gift card to a gift card exchange website is a quick and easy way to get cash, but it's important to do your research and choose a reputable website.

Use a peer-to-peer payment service.

Peer-to-peer payment services allow you to send and receive money from other people. You can use a peer-to-peer payment service to sell your gift card to a friend or family member. The person you sell your gift card to will then send you the cash via the peer-to-peer payment service.

Choose a reputable peer-to-peer payment service. There are many different peer-to-peer payment services available, so it's important to choose one that is reputable and secure.
Create an account. Once you have chosen a peer-to-peer payment service, you will need to create an account.
Add your gift card. Once you have created an account, you will need to add your gift card to the service. You will typically need to provide the service with the gift card's number and PIN.
Sell your gift card. Once you have added your gift card to the service, you can sell it to a friend or family member. The person you sell your gift card to will then send you the cash via the peer-to-peer payment service.

Using a peer-to-peer payment service to sell your gift card is a safe and easy way to get cash. However, it's important to only sell your gift card to people you trust.

Buy items and return them for cash.

This method is a little more complicated than the others, but it can be a good option if you have a high-value gift card. You can buy items with your gift card and then return them for cash. However, it's important to note that some stores may have restrictions on returning items purchased with gift cards. It's also important to keep your receipts in case you need to provide proof of purchase.

Here are the steps on how to buy items and return them for cash:

Buy items with your gift card.
Return the items to the store.
Get a refund for the items.
Use the refund to buy a money order or cashier's check.

It's important to note that this method may not be possible if you have a low-value gift card. Some stores have minimum purchase requirements for returns. Additionally, some stores may charge a restocking fee for returned items. It's important to weigh the costs and benefits of this method before you decide if it's right for you.

Use a gift card liquidator.

Gift card liquidators are companies that buy gift cards for a percentage of their value. The amount of money you will receive will vary depending on the liquidator and the type of gift card you have. Some liquidators will offer you a percentage of the gift card's value, while others will offer you a fixed amount of cash.

Here are the steps on how to use a gift card liquidator:

Find a reputable gift card liquidator. There are many different gift card liquidators available, so it's important to do your research and choose one that is reputable and secure.
Get a quote. Once you have found a liquidator, you can get a quote for your gift card. You will typically need to provide the liquidator with the gift card's number and PIN.
Sell your gift card. If you are happy with the quote, you can sell your gift card to the liquidator. The liquidator will then send you the cash via PayPal, direct deposit, or check.

Using a gift card liquidator is a quick and easy way to get cash for your gift card. However, it's important to note that you will not receive the full value of your gift card. The liquidator will take a percentage of the value as a fee for their services.

Redeem it for a store credit.

If you don't want to sell your gift card for cash, you can redeem it for a store credit. This means that you can use the gift card to buy items at the store that issued the gift card. Store credits can be a good option if you frequently shop at the store or if you have a specific item that you want to buy.

Check the store's policy. Before you redeem your gift card for a store credit, it's important to check the store's policy. Some stores may have restrictions on redeeming gift cards for store credit. For example, some stores may only allow you to redeem gift cards for store credit if the gift card is over a certain value.
Redeem your gift card. Once you have checked the store's policy, you can redeem your gift card for a store credit. You can typically redeem your gift card at the store's customer service desk.
Use your store credit. Once you have redeemed your gift card for a store credit, you can use it to buy items at the store. Store credits can be used to buy anything that the store sells, including merchandise, gift cards, and services.

Redeeming your gift card for a store credit is a good option if you want to use the gift card to buy items at the store. However, it's important to note that you will not receive the cash value of your gift card.

Donate it to charity.

If you don't want to sell your gift card for cash or redeem it for a store credit, you can donate it to charity. This is a great way to give back to your community and support a cause that you care about.

There are many different charities that accept gift cards. You can find a list of charities that accept gift cards on the website of the Gift Card Charity Alliance. Once you have found a charity that you want to donate to, you can mail your gift card to the charity or drop it off at a local donation center.

Donating your gift card to charity is a tax-deductible donation. You can deduct the fair market value of the gift card on your taxes. The fair market value of a gift card is the amount that you would receive if you sold the gift card to a gift card exchange website or a gift card liquidator.

Donating your gift card to charity is a great way to give back to your community and support a cause that you care about. It is also a tax-deductible donation.

FAQ

Here are some frequently asked questions about how to get cash from a gift card:

Question 1: What is the best way to get cash from a gift card?
Answer: The best way to get cash from a gift card depends on the type of gift card you have and your individual circumstances. If you have a gift card for a store that you frequently shop at, you may want to redeem it for a store credit. If you have a gift card for a store that you don't frequently shop at, you may want to sell it to a gift card exchange website or a gift card liquidator. You can also donate your gift card to charity.

Question 2: How much cash can I get from a gift card?
Answer: The amount of cash you can get from a gift card depends on the method you use to convert it to cash. If you sell your gift card to a gift card exchange website or a gift card liquidator, you will typically receive a percentage of the gift card's value. If you redeem your gift card for a store credit, you will receive the full value of the gift card. If you donate your gift card to charity, you will not receive any cash.

Question 3: Are there any fees associated with getting cash from a gift card?
Answer: Some methods of getting cash from a gift card may involve fees. For example, some gift card exchange websites and gift card liquidators charge a fee for their services. Some stores may also charge a fee for redeeming gift cards for store credit. It is important to compare the fees associated with different methods before you choose a method to get cash from your gift card.

Question 4: How long does it take to get cash from a gift card?
Answer: The time it takes to get cash from a gift card depends on the method you use to convert it to cash. If you sell your gift card to a gift card exchange website or a gift card liquidator, you will typically receive your cash within a few days. If you redeem your gift card for a store credit, you will receive your cash immediately. If you donate your gift card to charity, you will not receive any cash.

Question 5: Is it safe to get cash from a gift card?
Answer: Yes, it is safe to get cash from a gift card. However, it is important to be aware of the risks involved. For example, some gift card exchange websites and gift card liquidators may be scams. It is important to do your research before you choose a method to get cash from your gift card.

Question 6: What are some tips for getting cash from a gift card?
Answer: Here are some tips for getting cash from a gift card:

Check the terms and conditions of your gift card before you try to convert it to cash.
Compare the rates of different gift card exchange websites and gift card liquidators before you choose a method to sell your gift card.
Be aware of the fees associated with different methods of getting cash from a gift card.
Only sell your gift card to reputable gift card exchange websites and gift card liquidators.
Keep your receipts in case you need to provide proof of purchase.

By following these tips, you can safely and easily get cash from your gift card.

Now that you know how to get cash from a gift card, here are some additional tips to help you get the most value for your money:

Tips

Here are some tips to help you get the most value for your money when you convert your gift card to cash:

Tip 1: Check the terms and conditions of your gift card.

Before you try any of the methods listed in this article, it's important to check the terms and conditions of your gift card. Some gift cards may have restrictions on how they can be used, such as:

Restrictions on where the gift card can be redeemed.
Expiration dates.
Fees for converting the gift card to cash.

It's important to be aware of these restrictions before you try to convert your gift card to cash, as they may affect the amount of money you can get back.

Tip 2: Compare the rates of different gift card exchange websites and gift card liquidators.

If you decide to sell your gift card to a gift card exchange website or a gift card liquidator, it's important to compare the rates of different websites before you choose one. Some websites will offer you a higher percentage of the gift card's value than others. It's also important to consider the fees that the website charges. Some websites charge a flat fee for their services, while others charge a percentage of the gift card's value.

Tip 3: Be aware of the fees associated with different methods of getting cash from a gift card.

Some methods of getting cash from a gift card may involve fees. For example, some gift card exchange websites and gift card liquidators charge a fee for their services. Some stores may also charge a fee for redeeming gift cards for store credit. It is important to compare the fees associated with different methods before you choose a method to get cash from your gift card.

Tip 4: Only sell your gift card to reputable gift card exchange websites and gift card liquidators.

There are many reputable gift card exchange websites and gift card liquidators, but there are also some scams. It is important to do your research before you choose a website to sell your gift card to. You can read online reviews to see what other people have said about the website. You can also contact the website's customer service department to ask any questions you have.

By following these tips, you can safely and easily get the most value for your money when you convert your gift card to cash.

Now that you know how to get cash from a gift card and how to get the most value for your money, you can start using your gift cards to your advantage.

Conclusion

Gift cards can be a great way to give and receive money. However, if you need to convert your gift card to cash, there are a few things you need to know.

First, check the terms and conditions of your gift card. Some gift cards may have restrictions on how they can be used, such as expiration dates or fees for converting the gift card to cash. Once you have checked the terms and conditions, you can start exploring the different methods for converting your gift card to cash.

Some of the most popular methods for getting cash from a gift card include:

Selling your gift card to a gift card exchange website or a gift card liquidator.
Using a peer-to-peer payment service to sell your gift card to a friend or family member.
Buying items with your gift card and then returning them for cash.
Redeeming your gift card for a store credit.
Donating your gift card to charity.

The best method for getting cash from a gift card depends on your individual circumstances. If you have a high-value gift card, you may want to sell it to a gift card exchange website or a gift card liquidator. If you have a low-value gift card, you may want to redeem it for a store credit or donate it to charity.

No matter which method you choose, it is important to be aware of the fees associated with each method. Some methods may involve fees, while others may not. It is also important to only sell your gift card to reputable gift card exchange websites and gift card liquidators.