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How to transfer money to your bank account from a Visa Gift Card By eHow Contributor

Found This Helpful How to transfer money to your bank account from a Visa Gift Card thumbnail

There's one huge problem with Visa Gift Cards: transferring the balance into a separate bank account. This How To explains a method of how to transfer money from a Visa Gift Card into your personal bank account using PayPal.

Things You'll Need
  • Visa Gift Card

Instructions

  • 1. Activate your Visa Gift Card to purchase items online. You will need to do this for online purchases and using your card on PayPal. https://www.giftcards.com/card_tools/activate.html offers Visa Gift Card activation.

  • 2 PayPal is an effective way to transfer money from your Visa Gift Card

    Create a PayPal account. This is fairly easy and can be done at http://www.paypal.com

  • 3. Connect your bank account with your PayPal account. Go to your "profile" on PayPal's homepage, select "bank accounts" and then "add". From there follow the instructions. It will take a few days to confirm your bank account, then you will be able to transfer funds between PayPal and your bank account. In the meantime, proceed to step 4.

  • 4. Send money from your Visa Gift Card to your bank account via PayPal. You can do this from accessing PayPal's homepage and then going to "Send Money". You will enter your email address of your newly created PayPal account and the balance on the Visa Gift Card. Your money will then be transferred to you PayPal account.

  • 5. Transfer PayPal balance into you bank account. On your PayPal account page goto "withdraw" then "transfer to bank account".

  • 6. Enjoy the money how you would like.

Tips & Warnings

  • Don't try purchasing a cashier's check with your card.

  • Don't try buying an item and returning it for cash. The money is just transferred back to the card.

  • Don't try to sell it on Ebay. There are already hundreds for sale for less than the balance on the card. Using Ebay you will loose more money than using PayPal.

  • You will be charged 2.9% + 30 cents through PayPal.

eHow Contributor

This article was created by a professional writer and edited by experienced copy editors, both qualified members of the Demand Media Studios community. All articles go through an editorial process that includes subject matter guidelines, plagiarism review, fact-checking, and other steps in an effort to provide reliable information.

Resources

Via eHow.com

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