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Key Takeaways
- You cannot directly transfer an Amazon gift card balance to your bank account, but there are several workarounds to convert it to cash
- Popular options include selling your gift card online through marketplaces like Raise or CardCash at a slight discount
- Alternatively, you can purchase products on Amazon using the gift card balance and then resell them for cash
Amazon gift cards are a popular gift choice, but sometimes you may find yourself with an unwanted balance that you’d prefer to have in cash instead. While Amazon doesn’t allow you to directly transfer gift card funds to your bank account, there are still several methods you can use to convert that balance into cold, hard cash.
Sell Your Gift Card Online
One of the easiest ways to turn your Amazon gift card balance into cash is to sell the gift card itself through an online marketplace. These sites act as middlemen, allowing you to list your unwanted gift cards for sale to buyers who are looking for discounted cards.
Raise
Raise is one of the most popular and reputable sites for selling gift cards online. To sell your Amazon gift card through Raise:
- Create an account and verify your identity
- List your gift card for sale, setting your desired price (typically a few percentage points below face value to attract buyers)
- Choose your payout method (PayPal, direct bank transfer, or check)
- Once your card sells, receive payment minus Raise’s 15% commission
Raise offers buyer protection to ensure a smooth transaction, but that commission fee is on the higher end compared to some competitors.
CardCash
CardCash is another major gift card exchange site that allows you to sell your cards directly to them instead of listing them for sale. The process is simple:
- Select the type of card you want to sell (Amazon, in this case) and the amount
- Get an instant quote showing how much CardCash will pay you (typically 92% of the card’s value for Amazon cards)
- Enter your card details and provide any necessary uploads like photos of a physical card
- Choose your payout method (check, PayPal, direct bank transfer, or the option to trade for a different gift card)
The main advantage of CardCash over a marketplace like Raise is avoiding listing fees – you get an immediate quote and payment once your card is verified.
Purchase Products and Resell Them
If you’d prefer to maximize the value of your gift card balance, you can use the funds to purchase products on Amazon and then resell those items locally for cash. This does require more effort, but you can potentially make back the full balance or even a profit.
Some tips for going this route:
- Look for in-demand items that you know you can easily resell, like popular toys, electronics, or household goods
- Compare prices to ensure you’re getting a good deal factoring in any taxes/fees
- Use Amazon lockers or an Amazon Hub location for secure delivery if you won’t be home
- Sell locally through community groups, Craigslist, OfferUp or Facebook Marketplace to avoid shipping costs
- Understand return policies in case your items don’t sell right away
The main downside is tying up your gift card balance until you successfully resell the items. But if you put in the effort, you can extract maximum value.
Other Potential Options
A few other lesser-known possibilities for converting an Amazon balance to cash:
- Trade the balance directly with a friend or family member who shops on Amazon
- Use it for cash reloads on payment apps or prepaid debit cards that accept Amazon gift card payments
- Participate in research studies that offer Amazon gift cards as compensation, then sell the cards
No matter which route you choose, be sure to understand any fees involved and take precautions like getting delivery signatures for high-value physical gift cards. With some patience, that unused Amazon balance can become spendable cash in your pocket.
