How to Turn Mastercard Gift Card Into Cash?

If you’ve received a Mastercard gift card and want to convert it into cash, you’re in luck! There are several methods you can try to turn your Mastercard gift card into usable cash. In this tutorial, we’ll explore some simple steps to help you get the most out of your gift card.

Step 1: Check the Balance: Before attempting to convert your gift card into cash, make sure you know the balance on your card. You can usually check this online or by calling the customer service number on the back of the card.

Step 2: Sell Online: Several online platforms allow you to sell your gift cards for cash. Websites like Gift Card Granny, Raise, and CardCash offer a convenient way to sell your unwanted gift cards. Simply create an account, list your Mastercard gift card, and wait for potential buyers. Once sold, you’ll typically receive payment via PayPal, check, or direct deposit.

Step 3: Use a Gift Card Exchange Kiosk: Some physical locations, such as grocery stores or department stores, have gift card exchange kiosks. These kiosks allow you to insert your unwanted gift card and receive cash in return. Just follow the instructions on the screen, input your gift card details, and collect your cash. Keep in mind that these kiosks may charge a small transaction fee.

Step 4: Sell Locally: If you prefer to sell your gift card in person, you can try selling it locally. Platforms like Craigslist or Facebook Marketplace allow you to list your gift card for sale and connect with potential buyers in your area. Arrange a safe meeting place, agree on a price, and complete the transaction in cash.

Step 5: Use the Gift Card for Everyday Expenses: If you’re unable to convert your gift card into cash, consider using it for everyday expenses. Use the gift card to pay for groceries, gas, or other essential items. This way, you can avoid spending your own cash and maximize the value of the gift card.

Pros: Cons:
1. Convenient online platforms for selling gift cards. 1. Potential transaction fees when using gift card exchange kiosks.
2. Can sell the gift card from the comfort of your home. 2. Local selling may require meeting with strangers.
3. Allows you to convert the gift card into usable cash. 3. There may be limitations on where and how you can use the gift card.

Remember, when converting your Mastercard gift card into cash, it’s essential to choose a method that suits your preferences and ensures a safe and secure transaction. Explore the options mentioned above and find the best solution to make the most of your gift card.

Video Tutorial: Can I transfer money from a prepaid Mastercard to my bank account?

How do I use a Mastercard gift card at an ATM?

To use a Mastercard gift card at an ATM, follow these steps:

1. Locate an ATM that accepts Mastercard: Look for an ATM with the Mastercard logo or the logo of a network that your gift card is affiliated with, such as Visa or American Express.

2. Insert your gift card: Insert your Mastercard gift card into the designated slot on the ATM. The slot is typically located at the front of the machine.

3. Follow on-screen instructions: The ATM will display instructions on the screen. Follow the prompts and select the appropriate options to complete your transaction. Keep in mind that the specific steps may vary depending on the ATM and the card issuer.

4. Enter the required information: The ATM may prompt you to enter additional information such as your PIN (Personal Identification Number) or the expiration date of the gift card. Make sure to provide the correct details as requested.

5. Select the transaction type: Depending on the ATM and your gift card’s capabilities, you may be able to choose various transaction types such as cash withdrawal or balance inquiry. Select the desired transaction type to proceed.

6. Enter the amount and confirm: If you’re withdrawing cash, enter the desired withdrawal amount. Ensure that the entered amount does not exceed the available balance on your gift card. After entering the amount, review and confirm the transaction when prompted.

7. Wait for the transaction to complete: The ATM will process your transaction. Wait for the machine to dispense the requested cash or provide confirmation of a successful transaction.

8. Retrieve your card and receipt: Once the transaction is complete, the ATM will either eject your gift card or return it to you in another manner. Also, collect your transaction receipt for your records.

Remember to consult the terms and conditions specific to your Mastercard gift card to be aware of any limitations, fees, or restrictions that may apply when using it at an ATM.

Can you cash out a Mastercard gift card?

As a tech blogger, I can provide information on digital payments, including Mastercard gift cards.

1. Check the Terms and Conditions: The ability to cash out a Mastercard gift card depends on the specific terms and conditions set by the issuer. Start by reviewing the terms and conditions provided with the gift card or accessing them online.

2. Contact the Issuer: If you cannot find the necessary information in the terms and conditions, it’s best to reach out to the issuer directly for clarification. They can provide insights into whether the card allows cash withdrawals or if there are any restrictions.

3. Visit a Bank or ATM: Some gift cards may allow you to withdraw cash through ATMs or at banks. Look for ATMs or banks that accept Mastercard and inquire if they can process a withdrawal from the gift card.

4. Make Purchases: If you cannot directly cash out the gift card, you can still make purchases using it. Mastercard gift cards are typically accepted at various online and physical stores, allowing you to use the card for shopping purposes.

5. Connect with Peer-to-Peer Payment Apps: In some cases, you may be able to transfer the funds from a Mastercard gift card to a peer-to-peer payment app like PayPal, Venmo, or Cash App. These platforms often allow you to link your gift card and transfer the balance to your personal account. It’s important to note that the availability of this option may vary.

Remember, the ability to cash out a Mastercard gift card ultimately depends on the terms and conditions set by the issuer. So, it’s crucial to review the specific details provided with the gift card or contact the issuer directly for accurate information.

How do I liquidate a Mastercard gift card?

Liquidating a Mastercard gift card can be done in a few simple steps:

1. Check the balance: Before attempting to liquidate the gift card, verify the remaining balance by visiting the website or calling the customer service number provided on the back of the card.

2. Use the gift card directly: The easiest way to liquidate a Mastercard gift card is by using it for purchases at any store that accepts Mastercard payments. Simply present the gift card as a form of payment during checkout and the transaction will be deducted from the card’s balance.

3. Split the payment: In case the remaining balance on the gift card is not sufficient to cover the entire purchase amount, you can ask the cashier to split the payment between the gift card and another payment method, such as cash or a credit card.

4. Sell or trade the gift card: If you are unable to utilize the gift card yourself, you have the option to sell it to a gift card exchange website or a trusted individual. These platforms allow you to list the gift card for sale and receive cash in return, typically at a slightly discounted rate.

5. Use it for online purchases: Many online retailers accept Mastercard gift cards as a payment method. When making an online purchase, simply select the Mastercard option and enter the gift card details (card number, expiration date, and CVV) during checkout.

6. Transfer the balance to a bank account: Some gift card providers allow you to transfer the remaining balance on a Mastercard gift card to a bank account. Check the terms and conditions or contact the customer service of the gift card issuer to explore this option.

Remember to read all the terms and conditions related to the gift card, as some cards may have expiration dates, fees, or limited usage restrictions. It’s also important to be cautious while selling or trading gift cards online and ensure that you are using reputable platforms to avoid potential scams.

Can I transfer money from MasterCard gift card to PayPal?

Yes, it is possible to transfer money from a MasterCard gift card to PayPal. However, the process may vary depending on the specific requirements of both MasterCard and PayPal. Here are the general steps to follow:

1. Check if your MasterCard gift card is eligible for linking with PayPal. Some gift cards may have restrictions or limitations on their use, so it’s important to review the terms and conditions associated with your card.

2. Log in to your PayPal account or create a new one if you don’t have an account already.

3. Navigate to the "Wallet" section within your PayPal account. This is where you can manage your linked cards and bank accounts.

4. Click on the option to "Link a Card or Bank" and select "Link a Card."

5. Enter the necessary information from your MasterCard gift card, such as the card number, expiration date, and security code. Make sure to input the correct details to ensure a successful linkage.

6. Review and agree to any terms and conditions presented by PayPal for adding a card to your account.

7. After successfully linking your MasterCard gift card to PayPal, you should be able to use it for various transactions on the platform. However, keep in mind that not all merchants or services may accept payments from gift cards, so it’s advisable to check with the specific merchant or service provider beforehand.

It’s also worth noting that if your MasterCard gift card has a remaining balance but it is not sufficient for a particular transaction, PayPal may allow you to pay the difference using other linked cards or bank accounts if available.

Please note that these steps are provided as a general guideline, and the actual process may differ based on the specific interface and functionalities of PayPal and any additional requirements imposed by the MasterCard gift card issuer.

How do I get money off my Mastercard credit card?

To get money off your Mastercard credit card, you have a few options:

1. Cash withdrawals at ATMs: You can use your Mastercard credit card to withdraw cash from an Automated Teller Machine (ATM) that accepts Mastercard. However, it’s important to note that cash withdrawals typically attract high fees and interest charges, so it’s advisable to consider this option only if it is necessary.

2. Balance transfer: If your objective is to obtain cash for personal use, a balance transfer might not be the best choice. However, if you have outstanding credit card debt on another card with a higher interest rate, you can transfer that balance to your Mastercard, which can free up some cash by reducing your interest payments.

3. Over-the-counter cash advances: Some banks and financial institutions allow you to obtain cash advances at their branches, provided you have a Mastercard credit card. Cash advances usually come with higher interest rates and additional fees, so it’s advisable to check the terms and conditions set by your bank before opting for this option.

4. Online payment services: Depending on your Mastercard’s terms and conditions, you may be able to link it to online payment services such as PayPal or Venmo. By doing so, you can transfer funds from your Mastercard to your online payment account, which can then be transferred to your bank account or used for online purchases.

5. Contact your bank: If none of the above options suit your needs, it’s always a good idea to contact your bank directly. They can provide you with information regarding any specific services or promotions they offer that may be relevant to your situation.

Remember, before using any of these methods, it’s crucial to understand the associated fees, interest rates, and potential consequences to make an informed decision that aligns with your financial goals.