How to Sell Gift Cards for Cash With PayPal
Turn your unwanted gift cards into cash. Discover the steps to sell them on legitimate marketplaces and receive your payment conveniently through PayPal.
Unwanted gift cards represent unused value that can be converted into cash. While PayPal does not operate as a direct marketplace for gift card sales, you can use specialized third-party platforms. PayPal then serves as the method for receiving your payment.
Understanding the Sale Process
You cannot directly sell gift cards on PayPal’s platform. PayPal functions as a payment processing service. To sell a gift card, you must use a separate online marketplace.
Once a sale is completed on a marketplace, PayPal acts as the payment method for receiving funds. The marketplace connects sellers with buyers, verifies gift card balances, and manages the secure exchange of card details.
Identifying Gift Card Marketplaces
Several online marketplaces specialize in buying and selling gift cards. These platforms act as intermediaries, connecting sellers with buyers seeking discounted gift cards. Their model involves creating an account, listing your gift card, and waiting for a buyer.
These marketplaces provide a secure framework, verifying card balances and authenticity. They handle various gift card brands and may offer different payout percentages based on demand and card type. Some platforms purchase cards directly, while others operate as listing sites where you set your price as a percentage of the card’s face value.
Steps to Selling Your Gift Card
Selling a gift card on a third-party marketplace requires gathering all necessary information from your card. Gather the card’s brand, its exact remaining balance, the full card number, and any associated Personal Identification Number (PIN). For physical cards, this information is found on the back, sometimes under a scratch-off coating, while digital cards provide these details electronically.
The next step involves creating an account on your chosen gift card marketplace. This usually requires providing basic personal information and agreeing to the platform’s terms of service. Once your account is set up, you can proceed to create a listing for your gift card, accurately inputting all the details you gathered earlier. This includes specifying the card’s value and the selling price, which is often a percentage of the face value, reflecting a discount to attract buyers.
After listing, the marketplace typically initiates a verification process to confirm the card’s balance and validity. This may involve automated checks or a manual review, and you might be asked to provide additional information to complete this step. Once the card is verified and a buyer commits to the purchase, the marketplace facilitates the secure transfer of the gift card details to the buyer. This ensures that the transaction is completed safely and that the buyer receives a valid, active gift card.
Receiving Payment Through PayPal
Once your gift card successfully sells on a marketplace, the next step involves receiving your funds, often through PayPal. You will generally need to link your PayPal account to the gift card marketplace as your preferred payout method. This process typically involves logging into your PayPal account through the marketplace’s secure portal to authorize the connection.
The marketplace then initiates the transfer of funds to your linked PayPal account. While “instant” is sometimes used, processing time for payments to clear and appear in your PayPal balance can vary. Typically, funds may become available within a few hours to a few business days, depending on the marketplace’s policies and PayPal’s processing times.
When receiving payments, it is important to be aware of potential PayPal transaction fees. For domestic transactions, PayPal generally charges a percentage of the transaction amount, often around 2.9% to 3.49%, plus a fixed fee, which can be around $0.30 to $0.49. These fees are typically deducted from the amount you receive. Once the funds are in your PayPal balance, you can then manage them as you wish, including transferring them to a linked bank account, using them for online purchases, or sending them to others.