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If you've received an American Express gift card and want to convert it to cash, there are several options available to you. You can use the card to purchase items online or in-store, but if you'd rather have cash, here are some ways to do so.
You can sell your American Express gift card to a third-party website, such as Raise or Cardpool, and receive a cash refund. These websites allow you to list your card for sale and receive payment once it's sold.
Some gift cards, including American Express, can be exchanged for cash at a participating retailer. For example, you can exchange an American Express gift card for cash at a participating Costco store.
American Express also offers a few ways to convert your gift card to cash, including using the card to pay for a cash advance on your American Express credit card.
Cashing Out Gift Card
Cashing out an American Express gift card is a relatively straightforward process. You can redeem the balance on your card for cash or credit on your Amex account.
To start, make sure you have a valid American Express gift card with a remaining balance. You can check the balance on your card by calling the number on the back or by visiting the American Express website.
If you want to cash out your gift card, you can use the remaining balance to pay for purchases or services on your Amex account.
Withdraw from ATM
Withdrawing cash from an ATM is not a straightforward process with American Express gift cards. Some users have reported success by using the gift card to purchase a money order.
You can then deposit or cash the money order at a bank, but be aware that this method may incur fees. Not all financial institutions accept this method, so it's essential to check beforehand.
This workaround may not be the most convenient or cost-effective option, but it's a possible solution for those who need to access cash.
Check the Balance
Before you can start thinking about cashing out your gift card, you need to know how much is on it. Knowing the exact amount on the card will help you determine the best method for cashing out.
You can check the balance of your American Express gift card online, by phone, or by visiting the American Express website. This will give you a clear picture of what you're working with.
Selling or Trading Gift Card
You can sell your American Express gift card for cash on various online marketplaces and platforms. Some popular options include Raise and Prestmit, where you can get a decent price for your card, even if it's not the full value.
If you're looking for a more local approach, you can sell your Amex gift card on Craigslist, which is free to list and doesn't charge a commission. This way, you can keep 100% of your profits.
You can also redeem your gift card for cash at Walmart's online gift card website, cardcash.com, or use local online groups like Facebook marketplace to sell your card for a slightly lower price. Be prepared to provide proof of the gift card balance before completing the sale.
Use Prepaid App
You can use an app to convert prepaid and gift cards into cash, like Prepaid2Cash, which allows you to scan your cards and transfer the funds to your bank account in as little as 15 minutes.
Prepaid2Cash supports cards like Visa, American Express, and MasterCard, making it a convenient option for unloading your gift card balance.
To get started, simply download the app, scan your gift card, and transfer the money to your bank account.
This method is a quick and efficient way to cash out your gift card, and you can use the funds for anything you need.
By using an app like Prepaid2Cash, you can avoid losing the value of your gift card and get the cash you need.
Trade on Online Platforms
You can sell your gift card on online marketplaces like Raise, Prestmit, and CardCash. These websites will give you a decent price for your gift card, even if it's not the full value.
Some online marketplaces will pay you in cash, while others will transfer the money directly to your bank account. For example, CardCash allows you to redeem gift cards for cash at their website.
You can also sell your gift card on local online groups, such as Facebook Marketplace. Be prepared to provide proof of the gift card balance before completing the sale.
Selling your gift card on Craigslist is another option, and it's free to list items for sale there. You can get paid with cold hard cash or opt for PayPal and transfer the money right to your bank account.
Keep in mind that you'll likely have to sell the card at a bit of a discount, as people are usually after secondhand gift cards.
Buy Something Else
You can buy something and cash out your American Express gift card by using it for purchases at most in-store and online retailers.
American Express gift cards can be used anywhere American Express is accepted in the United States and the District of Columbia.
Some businesses, like gas stations, pre-authorize a certain amount for those who pay at the pump, so pay inside the gas station where possible.
To avoid having a hold on your gift card, keep track of your available balance and make sure you have enough on the card to cover your purchase.
You can check the balance of your American Express Gift Card by visiting balance.amexgiftcard.com and entering your Gift Card's Security Code, Expiration Date, and Card Number.
Another option is to buy items and return them for cash, but this method comes with caveats, such as not all stores will provide cash refunds.
Request a Refund from American Express
If your Amex gift card has a low balance, you might be able to request a cash refund.
You can request a cash refund for gift card balances between $0.99 and $9.99, but this depends on the state you live in.
Some states will automatically initiate refunds for inactive gift cards.
You should check the store's refund policy beforehand to ensure that they offer cash refunds or store credit for purchases made with your Amex gift card.
You could use this option to convert the card's value into cash, but it's essential to check the store's refund policy first.
Alternative Methods
You can use your American Express gift card to buy money orders, but it's a tedious and costly process.
There are simpler and more accessible methods to cash out your Amex gift card, like transferring it to PayPal. You can send money to a friend or family member, but be aware that PayPal charges a 2.7% transaction fee.
Using these alternative methods might work out cheaper than buying money orders, and they're definitely less hassle.
Transfer to Bank Account
You can transfer the value of your American Express gift card to your bank account using the Prepaid2Cash App, which can process the transfer in as little as 15 minutes.
Simply download the app, scan your American Express gift card, and follow the prompts to transfer the funds to your bank account.
There's no need to physically visit a bank or a store to cash out your gift card, making this option super convenient.
Prepaid2Cash supports a range of card types, including American Express, Visa, and MasterCard, so you can use this service regardless of the type of gift card you have.
By using Prepaid2Cash, you can get the cash you need quickly and easily, without any hassle or fuss.
Use for Travel or Experiences
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Using alternative methods can be a great way to enhance your travel experiences. For instance, you can use virtual reality to explore destinations before booking a trip, and even get a feel for the local culture.
You can also use online platforms to book unique experiences, such as cooking classes or hot air balloon rides, in advance.
Traveling with a group can be more cost-effective, as seen in the example of group tours that offer discounts for booking together.
Additionally, you can use online resources to plan your itinerary and make the most of your time in a new city.
Using alternative methods can also help you discover hidden gems and off-the-beaten-path destinations that you might not have found otherwise.
Customer Support and Options
If you're having trouble finding a suitable cash-out option or have questions about your American Express gift card, don't hesitate to reach out to American Express customer service. They may be able to provide alternative solutions or guidance on how to proceed.
You can contact American Express customer service directly to get help with your gift card.
Contact Customer Service
Contact Customer Service can be a lifesaver when you're stuck. If you're unable to find a suitable cash-out option, don't hesitate to reach out.
Contacting American Express customer service can provide alternative solutions to your gift card conundrum. They may be able to guide you on how to proceed.
If you have any questions or need help, American Express customer service is available to assist.
Account Update
If you have an Amex gift card, you can add it to your Venmo account to cash it in. This is a convenient option, especially if you already have a Venmo account.
Venmo accepts prepaid, network branded cards, like Amex gift cards, registered under your name. However, cards may be declined for funds availability or fraud prevention reasons.
To add an Amex gift card to your Venmo account, you'll need to register the card with the financial institution that issued it. This can usually be done online by verifying the card information and registering the card with your name and address.
If your gift card doesn't have a name and address on it, you'll need to register it through the financial institution's website. Sometimes there's a registration URL on the back of the card, but if not, you can use this link.
To convert an Amex gift card to cash, you can also sell it through various vendors on Venmo. Here are the steps:
- Choose the merchant name of your gift card from the list, such as "American Express."
- You'll get a list of exchange rates offered by various vendors for your gift card.
- If you like one of the offers, click on "Sell Your Card" to navigate to the vendor's website.
- Complete the transaction and receive your payout.
Frequently Asked Questions
Can you transfer an American Express gift card to Cash App?
Yes, you can transfer an American Express gift card balance to Cash App. Cash App accepts American Express gift cards, making it easy to add their balance to your account.
Can you transfer an American Express gift card to your bank account?
Yes, you can transfer an American Express gift card balance to your bank account using digital wallets like PayPal or Venmo, but fees may apply. Learn more about the process and associated fees.
Sources
- https://dollarsanity.com/amex-gift-cards-to-cash/
- https://www.pointchaser.com/guide/how-to-use-amex-gift-cards-to-buy-money-orders/
- https://blog.tbay.store/trading-guides/how-to-cash-out-an-american-express-gift-card-quickly.html
- https://www.linkedin.com/pulse/how-cash-out-american-express-gift-card-cash-transfer-mrzke
- https://moneypantry.com/amex-gift-cards-to-cash/
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