Where Can I Sell Gift Cards for Cash?

Converting unwanted gift cards into cash is a common goal. These unused balances, often from gifts or rewards, represent value that can be repurposed. Various selling avenues exist, offering differing levels of convenience, speed, and return. The process involves understanding the card’s details and choosing a suitable selling method.

Essential Information Before Selling

Before initiating any sale, verify the exact balance on your gift card. Most retailers offer methods to check a card’s value, including their website, a toll-free number on the card, or in-person at a store. Avoid third-party websites not directly linked by the merchant, as these can pose security risks.

Locating the gift card number and Personal Identification Number (PIN) is key for most selling transactions. These details are usually printed on the back of the physical card, sometimes under a scratch-off coating. These identifiers allow buyers or platforms to verify the card’s authenticity and balance. Understand any expiration dates or dormancy fees, as these can diminish value over time.

Federal law stipulates that gift cards cannot expire within five years from their issuance date. This law also regulates inactivity or dormancy fees, preventing them from being charged unless the card has been inactive for at least one year. Such fees and expiration dates must be clearly disclosed. While federal law provides a baseline, some state regulations offer additional protections, occasionally prohibiting expiration dates entirely or extending the validity period.

Online Platforms for Selling Gift Cards

Online marketplaces offer an efficient way to convert gift cards into cash. The process begins with creating an account and listing the gift card, providing details like the merchant, balance, card number, and PIN. Some platforms act as direct buyers, offering immediate quotes, while others are marketplaces where you set your price and await a buyer.

Once listed, the platform verifies the card’s validity and balance. Payment methods for successful sales commonly include direct deposit, transfers via services like PayPal or Cash App, or sometimes virtual debit cards or cryptocurrency.

Processing times for sales and payouts vary significantly by platform and gift card type. Some platforms advertise instant payments, with funds arriving within minutes for popular cards. Other transactions might take 24 to 48 hours, and physical cards requiring mailing can extend this to several days.

In-Person Options for Selling Gift Cards

For direct transactions, in-person options include gift card exchange kiosks, often found in retail stores or malls. These kiosks automate cash conversion: insert or scan your card, and the kiosk verifies its balance, presenting an instant cash offer (typically 60-85% of face value). If accepted, a voucher is dispensed, redeemable for cash at a customer service desk. Kiosks generally accept major retailer cards, but not all brands or partial balances may be eligible.

Pawn shops and other local businesses also buy gift cards. You typically need to present your card and valid identification. The business evaluates the card’s value and market demand before making a cash offer. This provides an immediate payout, reflecting the business’s need to profit from reselling.

Selling gift cards directly to friends, family, or colleagues is another informal method. This bypasses third-party fees and can yield a higher percentage of the card’s value, sometimes its full face value. While convenient and relying on mutual trust and clear communication, it lacks the formal verification and buyer protection of established platforms or kiosks.

Key Considerations for Selling Gift Cards

When selling gift cards, expect to receive less than the card’s face value. Payout percentages typically range from 60% to 92% of the balance, depending on the merchant, current demand, and chosen selling platform. Popular and universally accepted cards tend to command higher percentages.

Many platforms or services charge fees, which reduce your final payout. These fees might be a percentage of the transaction, a flat fee, or implicitly included in a lower offer rate. Understand these charges upfront to assess the net amount you will receive.

Protecting your personal and gift card information is crucial. Use reputable platforms with established security measures to mitigate risks. Be cautious of unusually high offers, as these could indicate fraudulent activity. Keeping transaction records, including screenshots or confirmation emails, can provide recourse if disputes arise.