Last Updated on 1 year by Komolafe Bamidele
Have you heard of Amazon gift cards or probably you once used them as means of payment,
And currently, you don’t know if you can transfer the funds in your Amazon gift card to your local bank account?
Then welcome to this awesome webpage.
We got you covered on every single piece of info you need to know about transferring your Amazon gift card balance to your bank account.
Before diving into the main topic, a gift card simply means a payment card that you can load money on and spend on shopping.
Today in the majority of the countries – for instance, the USA, one can use the gift card for making purchases at different shopping centers.
Besides that, the name gift card emerged as people can give their loved gift cards that are loaded with funds instead of giving them cash.
Gift cards are similar to other debit cards out there as there are several places where you can purchase gift cards.
One of the most popular places is Amazon.
Having known that you can store or load money in your gift cards and use them in your shopping.
Later in this guide, we will show you how to transfer your Amazon balance gift card to your bank account with ease.
Why are Gift Cards so Popular and Better?
The world is quite digital, sometimes we may need electronic money at hand instead of physical cash or money;
Here one of the ways to achieve this is to transfer your digital money to your bank.
Meanwhile, as money in the bank can be used for several purposes, we have received lots of queries from people searching on how to transfer Amazon gift card balance to their bank.
This is very important as you can move your money from your bank to any place you wish to save it and use it any time you wish to.
While some gift cards allow users to completely spend the funds once without adding new funds,
The majority of gift cards allow you to frequently add money to your gift card, making it possible for you to use your gift card over and over again.
Can you Transfer the Gift Card Balance to a Bank Account?
From our research, we find out that just the same way you can transfer money from your debit card to your bank account,
you can as well transfer funds from your Amazon gift cards directly to your bank account.
So it is very possible to transfer your Amazon gift cards to your bank account.
To achieve this, we have detailed cool steps you should follow before you are able to transfer your Amazon gift card balance to your bank account.
- Navigate to Amazon Pay
- Locate the “Shoppers” button, click on it and sign in using your existing Amazon credentials
- Now look for the “Withdrawal Funds” tab and click on it
- When the page opens, you will see different banks which will tally with the country you chose when you sign up with Amazon. Now select your favorite bank
- Next, you need to choose the amount you wish to transfer from your Amazon gift card to your bank account
- Finally, you need to hit the “Continue” button to complete the process you started.
How to Deposit a Gift Card into a Bank Account Using PayPal or Venmo
In this section, we will detail how you can transfer your Amazon gift card balance to your bank account using Venmo.
The requirements for this transaction involve two different Venmo accounts, probably your personal Venmo account and your family Venmo account.
Moreover, you should know that Venmo is very easy to register and it is quite free.
So even if you don’t have a Venmo account, you can do that right away before proceeding with the below steps.
You can visit https://venmo.com to get started.
Below are the steps you should follow:
Step 1: Linking Your Amazon Gift Card
The first thing you should do is link your Amazon gift card to your Venmo account.
This will serve as a payment method.
From your Venmo account, go to settings and add your Amazon gift card as your payment method to your Venmo.
Step 2: Add a Bank Account
When you have successfully added your Amazon gift card as your payment method in your Venmo account,
The next thing you should do is to add your bank account to the second Venmo account we mentioned above.
Note: This second Venmo account can be your brother’s or sister’s Venmo account. Follow the guide in step one to add the bank details.
Step 3: Inter Venmo Transfer
Here what you are required to do is to transfer money from your Venmo account to either your brother’s or your sister’s Venmo account.
Meanwhile, your Amazon gift card will serve as your payment method.
When you send the money from your Venmo account to your brother or sister’s Venmo account, they will receive the money.
Step 4: Withdraw Your Money to your Bank Account
Now that the money has arrived in your sister or brother’s Venmo account,
quickly tell them to transfer it to their linked bank account.
The whole process is quite simple if you follow it sequentially.
All this procedure may not exceed 15 minutes if you already have Venmo accounts.
What’s the Best Way to Exchange Amazon Gift Cards for Cash?
Amazon gift cards are one of the most popular gift cards.
It has diverse ways that you can exchange your gift card funds if you don’t want to undergo the whole process that we discussed above; which is through Venmo and Amazon pay.
Hereunder, there are lots of ways we have culled from our detailed research on how you can exchange your Amazon gift cards for cash.
7 Great Ways to Credit or Exchange an Amazon Gift Card Balance to Instant Cash?
Consider choosing your favorite platform from the below section.
#1 Use Reddit
Reddit being a popular platform where thousands of users meet to search or to do other things can serve as a means that individuals can use to exchange amazon gift cards for cash.
On Reddit, you will see people that are ready to buy Amazon gift cards when you indicate that you want to sell your Amazon gift card.
You can use Escrow to ensure a secure transaction.
But have in mind that you may not get the full amount back in cash through this method.
#2. Buy Stuff for Friends/Family and Get Cash in Exchange
Another recommended way that you can use to exchange amazon gift cards for cash is to buy things from your friends or even from your family members and pay them with an Amazon gift card.
Through this method, you are exchanging your Amazon gift card with cash which will probably give you a complete money equivalent of your fund in your Amazon gift card.
#3 Sell a $500 Amazon Gift Card for $520 on eBay
eBay is another recommended place where you can easily sell your Amazon gift card at an amazing rate.
There are lots of approved third-party retailers or service providers on eBay that are willing to purchase electronically-delivered gift cards on eBay, as long as those retailers are vetted by eBay officials.
#4. Sell It on Craigslist
Craigslist is another legit platform where you can sell gift cards locally through a barter exchange.
Meanwhile, before you can begin selling your Amazon gift card, ensure that you verify the balance of the gift card when you meet with the buyer.
Craigslist is quite popular and there you will find lots of individuals who are ready to buy or sell their gift cards not just from Amazon alone but from other companies.
#5 Sell it on Gift Card Exchange Kiosk near Me
A kiosk is a gift card exchange place where you can handle your unused gift cards in exchange for cash.
The use of a Kiosk to perform gift card exchange is quite a great way to sell your gift cards for instant cash, and they have diverse locations all over the world.
To sell your Amazon gift card on Kiosk, find a kiosk using their kiosk location finder and take your Amazon gift card and insert it into the machine.
Before you can successfully exchange your Amazon gift cards with Kiosk, you need to enter your gift card information into the Kiosk system.
With a Kiosk machine, you can be able to check the balance of your Amazon gift card, this will help you to know your exact balance and the amount you wish to sell.
#6 Buy Grocery & Pay Yourself in Cash
You can as well buy groceries and other retail foodstuffs and pay yourself in cash through your Amazon gift cards.
#7Sell it on Raise
Raise is another highly esteemed platform where you can sell your Amazon gift cards without facing seller fees.
Moreover, Raise sometimes selects sellers who will sell Amazon gift cards.
Raise is quite a secured gift card exchange platform where you can even sell unwanted Amazon gift cards.
This platform is a guaranteed safe, secure, and reliable marketplace to sell gift cards for cash with no hidden fees
Conclusion
By following the steps we discussed in this guide, you can easily transfer your Amazon gift card balance to your bank account within a few minutes.
Also, you will learn how to sell your Amazon gift card if you don’t want to follow the steps which are tied to using Venmo.