How Can I Sell Gift Cards? Your Options for Getting Cash

Many people receive gift cards they may not use, perhaps for a retailer they don’t frequent or because they prefer cash. Instead of letting these cards go unused and potentially lose value, there are practical ways to convert them into spendable money. Recovering this value can provide financial flexibility. This guide explores various avenues to transform gift cards into cash.

Preparing Your Gift Card for Sale

Before selling, verify the exact remaining balance on your gift card. Most retailers offer several options to check a card’s value. You can visit the retailer’s website for a “Check Balance” feature, inputting the card number and PIN if available. Many gift cards also display a customer service phone number on the back for automated balance information or representative assistance. Alternatively, a cashier at a physical store can scan the card to confirm its balance.

Once the balance is confirmed, gather all necessary card details: the full card number, PIN (if applicable), and any expiration date. This information is usually printed on physical cards or accessible for digital cards. For physical cards, ensuring the card is in good condition with legible numbers and no significant damage can help ensure a smoother transaction. Digital gift cards provide all relevant information electronically.

Selling Through Online Marketplaces

Online marketplaces offer a structured environment for selling unwanted gift cards, connecting sellers with buyers. Examples include CardCash, Raise, and GiftCash. The process starts by creating an account and accurately entering the gift card’s details, including the brand and verified balance.

These platforms provide an instant offer, typically a percentage of the card’s face value. This percentage can vary significantly, often 70% to 92%, varying based on the retailer’s popularity and market demand. After accepting an offer, the platform verifies the card’s balance and validity. Digital card details transfer electronically, while some physical cards may require mailing. Payout options include direct deposit, PayPal, or a mailed check. Payments are usually processed within one to two business days after approval and verification.

Selling Through Gift Card Kiosks

Automated gift card kiosks offer another way to convert gift cards into cash. These machines are often found in high-traffic areas such as grocery stores or malls, with networks like Coinstar Exchange being a known example. The physical process involves inserting your gift card into the kiosk, which scans and verifies its balance.

After verification, the kiosk presents an instant cash offer, typically 60% to 85% of the card’s value. If accepted, the kiosk prints a voucher. Take this voucher to the store’s customer service desk for a cash payout. It is important to note that kiosks may have specific limitations on accepted card types or brands, and some may require a minimum balance (e.g., $20). Identity verification, such as a driver’s license, may also be required.