The most direct ways to convert a gift card to cash
You can turn a gift card into cash through a resale marketplace, a cash-back service, or your bank. The fastest method is usually a resale site like CardCash or Raise, where you list the card and receive payment within days. Your bank may also convert certain gift cards to cash on the spot if you visit in person, though this depends on the card type and your bank's policy. A third option is to spend the card's balance on something you can resell — groceries or electronics, for example — though this takes more time and effort.
The amount you receive is almost never the full face value. Resale marketplaces typically pay 70 to 92 percent of the card's value, depending on the brand and how quickly you want the money. Visa and Mastercard gift cards usually fetch higher percentages than store-specific cards because they are easier to use. The trade-off is straightforward: faster payment means a lower percentage of the original amount.
Key Takeaways
- Resale marketplaces like CardCash and Raise convert gift cards to cash within a few days, paying 70 to 92 percent of face value depending on the card brand.
- Some banks will exchange a gift card for cash at the teller window, though policies vary by institution and card type.
- Visa and Mastercard gift cards sell for higher percentages than store-specific cards because they have broader use.
- You can also spend the card balance on items you resell, but this method takes longer and may result in a smaller payout.
How resale marketplaces work
Sites like CardCash, Raise, and Decluttr let you list a gift card for sale to other buyers. You enter the card's balance and brand, set a price (or accept their suggested price), and upload a photo of the card. The marketplace handles the transaction between you and the buyer. Once a buyer purchases your card, you ship it to them or provide the code, and the site deposits money into your account.
Payment timelines vary. CardCash typically pays within 2 to 5 business days after the buyer receives and confirms the card. Raise can take longer — sometimes 7 to 10 days — because they verify the card's balance before releasing funds. Both sites charge a small fee from the buyer, not the seller, so you keep the full amount you listed.
The percentage you receive depends on demand. Popular brands like Amazon, Target, and Walmart gift cards sell quickly at higher percentages — sometimes 85 to 92 percent of face value. Niche store cards or cards with low balances may only fetch 70 to 80 percent. You can check current rates on each site before listing to see what your specific card is worth right now.
Using your bank to convert a gift card
Some banks will exchange a gift card for cash if you visit a branch in person. This works most reliably with Visa, Mastercard, or American Express gift cards, since these are issued by the bank itself. Bring the physical card and your ID. The teller can check the balance and convert it to cash on the spot, usually without a fee.
Store-specific gift cards are less likely to work this way. Your bank has no direct relationship with Target or Best Buy, so they cannot easily verify or convert those cards. Call your bank's customer service line before visiting to confirm they offer this service and whether they accept the specific card you have.
This method is fastest if your bank offers it — you walk out with cash the same day. The downside is that you receive the full balance only if the bank accepts the card. If they do not, you are back to using a resale marketplace.
Spending the card and reselling what you buy
If you cannot find a buyer through a marketplace or your bank will not convert the card, you can spend it on something resellable and then sell that item. Buy groceries, electronics, or household goods that you can list on Facebook Marketplace, eBay, or Craigslist. You will receive less than the card's face value because you are now selling a used item, but you can still recover a portion of the balance.
This approach works best for high-value items like electronics or brand-name goods. A $100 gift card spent on a popular kitchen appliance might sell for $60 to $75 on the secondhand market. A $100 gift card spent on groceries will not resell at all. The time investment is also significant — you have to photograph items, list them, communicate with buyers, and arrange pickup or shipping.
Why you do not receive full value
Resale marketplaces and cash-conversion services take a cut because they assume the risk that a card might be invalid, already spent, or reported stolen. They also profit from the difference between what they pay you and what they sell the card for. The percentage you lose reflects both the marketplace's margin and the demand for that particular card.
Visa and Mastercard gift cards command higher percentages because they function like cash — the buyer can use them anywhere. Store-specific cards are worth less because the buyer can only spend them at one retailer. A card with a very low balance (under $10) may not sell at all, since the marketplace's processing costs would exceed the profit.
Comparing your options by speed and payout
| Method | Time to cash | Percentage of face value | Best for |
|---|---|---|---|
| Bank conversion (in person) | Same day | 100% (if accepted) | Visa/Mastercard gift cards at your bank |
| CardCash | 2 to 5 days | 70 to 92% | Any brand; fastest resale option |
| Raise | 7 to 10 days | 70 to 92% | Any brand; thorough verification |
| Spend and resell | 1 to 2 weeks | 50 to 75% | High-value items; when other options are unavailable |
Things to watch out for
Never send a gift card to a buyer before payment clears. Resale marketplaces handle this by holding your card until the buyer confirms receipt, but if you are selling privately, you risk losing both the card and the money. Always use a platform that holds funds in escrow.
Be honest about the card's balance and condition. If you list a card as having a $100 balance but it actually has $95, the buyer can report the discrepancy and the marketplace will refund them. This can result in your account being suspended or your payout being reversed. Check the balance on the card's website or by calling the issuer before listing.
Watch for scams on resale sites. If a buyer contacts you outside the marketplace asking you to send the card directly, decline. Legitimate transactions happen through the platform's messaging system, and the platform protects both of you.
Frequently Asked Questions
Can I convert a gift card to cash at any store?
No. Most retailers will not convert their own gift cards to cash at the register. Some will let you use the card to buy a money order or gift card to another retailer, but this is not the same as receiving cash. Your best options are resale marketplaces or your bank.
What if my gift card has a very small balance left?
Resale marketplaces may not accept cards under $5 or $10 because the processing cost exceeds the profit. You can still spend the remaining balance on something small, or combine it with another payment method at checkout. Some retailers let you use multiple gift cards on one purchase.
Do I have to pay taxes on the cash I receive from selling a gift card?
Selling a gift card for less than its face value is generally not a taxable event for personal use. However, if you are regularly buying and reselling gift cards as a business, the IRS may classify this as income. For occasional sales, you do not owe taxes.
Which gift card brands sell for the highest percentage?
Visa, Mastercard, and American Express gift cards typically sell for 85 to 92 percent of face value. Amazon, Target, and Walmart cards usually fetch 80 to 90 percent. Smaller retailers or specialty stores may only bring 70 to 80 percent. Check the current rates on CardCash or Raise before listing.
Can I sell a gift card if I do not have the physical card anymore?
Yes, if you have the card number and PIN. Most resale marketplaces accept digital gift cards or the code from an email. You will need to provide the full card number, expiration date, and security code. The process is the same as selling a physical card.