Who Takes Gift Cards for Cash: Where and How to Sell

Converting unused or unwanted gift cards into cash allows individuals to use the value for more pressing financial needs or personal preferences. People often seek this option when they receive a gift card for a store they do not frequent, prefer immediate cash over store credit, or face a store closure. Selling gift cards provides flexibility, ensuring their value is utilized.

Preparing Your Gift Card for Sale

Before selling a gift card, accurately verify its remaining balance. This can be done by visiting the merchant’s website, calling a toll-free number usually located on the back of the card, or inquiring in-store. Knowing the exact balance ensures transparency and helps determine the potential cash offer. The card number, PIN (if applicable), and expiration date are also crucial details required for sale, found on the physical or digital card.

Gift cards are almost always sold at a discount from their face value. This discount accounts for the convenience of immediate liquidity for the seller, the buyer’s incentive to purchase a card below its retail value, and any fees charged by the selling platform or buyer. Selling a gift card for less than its original value does not typically result in taxable income, as it is generally considered a conversion of a personal asset. The percentage received often ranges from 60% to 92% of the card’s value.

Selling Through Online Marketplaces

Online marketplaces offer structured processes for selling gift cards, providing a broad reach to potential buyers. These platforms streamline transactions by allowing sellers to input gift card details, including brand name, remaining balance, card number, and PIN. Once submitted, the platform typically provides a cash offer based on the card’s popularity and demand. The seller can then accept or decline the proposed amount.

Upon accepting an offer, payment methods vary, often including direct bank deposits, transfers via payment applications like PayPal or Zelle, or mailed checks. Direct deposit and payment app transfers are often instant or processed within minutes, while checks may take several business days to arrive. After the sale is initiated, the platform verifies the gift card’s validity and balance before releasing funds, ensuring a secure transaction for both parties. Some platforms allow sellers to list their cards and set their own prices, waiting for a buyer, while others provide instant offers.

Alternative Selling Methods

Beyond online marketplaces, other avenues exist for converting gift cards into cash. Gift card exchange kiosks, often found in grocery stores or large retail centers, provide an immediate option. Users scan their gift card, receive an instant cash offer (ranging from 60% to 85% of the card’s value), and if accepted, redeem a voucher for cash at a customer service desk. These machines offer convenience for quick transactions, though the payout percentage might be lower compared to some online options.

Direct selling to individuals, such as friends, family, or through local classifieds and social media groups, can yield a higher percentage of the card’s value because there are no intermediary fees. This method involves a direct exchange of the gift card for cash, often requiring in-person meetings. Local businesses, including some pawn shops, also purchase gift cards, offering another immediate cash option. While these establishments provide instant payouts, they generally offer a significantly lower percentage of the card’s value due to their business model and the need for a profit margin. It is advisable to call ahead to confirm acceptance and inquire about their typical payout rates before visiting.