HOW TO CONVERT GIFT CARDS TO CASH
You can use gift cards as cash for various purposes. They help pay small bills and other regular purchases. You can also save the balance of gift cards in your bank account. You can use the amount to pay off debts, invest, or do any other purpose that you desire. Once you have enough cash to use for various purposes, you can convert gift cards to currency and enjoy the convenience. This article will teach you how to do it.
Sell gift cards on eBay.
There are two ways to sell gift cards on eBay to convert them into cash. One is through payment apps, which are quick and easy to use. The other is sending checks, which take longer but are just as good as hard cash. When deciding which method to use, consider the perks and drawbacks of both approaches. eBay is one of the most popular places to buy and sell items online, and it makes sense to turn unwanted gift cards into cash.
The downside to selling gift cards on eBay is that the process is far from instant. It may take days or weeks before someone buys them. Also, it is doubtful to receive the amount you initially hoped for, as people often commandeer gift cards. You can sell gift cards for ten to twenty percent off the face value to make it safer. However, it is essential to remember that eBay buyers will likely have higher fees than other buyers.
Buy a money order
One of the easiest ways to turn gift cards into cash is to buy a money order. You can do this by sending a money order to a financial institution. Money orders can be used for any purpose, but you should remember that some financial institutions might shut down your account if you receive too many. This could be a sign of structuring, resulting in fines or even jail time.
Before using a money order to exchange a gift card for cash, make sure you have photo identification with you. Also, don’t endorse the money order until you’re at the counter. Most issuers have a limit of $1,000 per money order. If you need more than that, you’ll have to buy multiple money orders or get a cashier’s check. In addition, you may be charged finance fees if you pay with your credit card.
Sell them on Venmo
There are many ways to sell gift cards on Venmo. To begin, you will need to enter your gift card’s Zip Code and picture. You can also add the card’s zip code if you want to receive payment through Venmo. Once you’ve added the card, please wait for it to be added to your Venmo account. You can then enter the card’s balance in the Venmo app.
To get the most out of your exchange, check the balance on the gift card. If you have no idea of how much your gift card is worth, you can try offering a higher payout for mailed-in cards. If you’d prefer to receive cash in exchange for your gift card, you can also choose another merchant’s gift card to receive the funds. Once you have gotten your payment, you can then use it to buy what you need.
Use them as cash
Don’t be discouraged when purchasing a gift card if you discover that the balance has expired. You can use your card’s remaining balance to make purchases online or in-store. Gift cards also function like debit cards. Because they have an expiration date, you should be aware of their use and avoid wasting them on impulse purchases. Many retailers offer single-use gift cards, either physical cards or electronic vouchers that are pre-loaded with a specific value.
While some stores offer gift cards with a specific expiration date, they will eventually lose value. In some cases, the cards will expire after five years. Then you’ll have to pay maintenance fees, or the card will lose its weight. Also, many gift cards will be void of value if the retailer goes out of business. In these cases, you’d better choose store cards instead. You can also get a gift card with no expiration date.
Visit a gift card exchange kiosk.
If you have unused gift cards that you no longer use, you should visit a gift card exchange kiosk to sell them for cash. These kiosks allow you to sell gift cards in exchange for a percentage of the monetary value of the cards. Some stalls even offer vouchers that you can use as cash. Gift cards are not just for gift giving; you can also re-gift them to friends and family members.
Before you visit a gift card exchange kiosk, make sure that your card is valid for use at the location. Some gift card exchange kiosks can only accept gift cards with a balance of at least $20. It is easiest to check your gift card balance by looking on the back or calling the company’s customer service number. If you have an electronic gift certificate, you can contact the company’s website for the current balance.