Greetings to all our readers! In this article, we will be discussing the simple and easy steps to transfer money from your gift card to your bank account through PayPal. We all have received gift cards as a present at some point in our lives. However, sometimes we might not have any use for the gift card and would prefer to have the money instead. With PayPal, transferring money from gift cards to a bank account has never been easier!
Step 1: Check if Your Gift Card is Eligible for Transfer
Before we dive into the process, it is important to check if your gift card is eligible for transfer. Most popular gift cards like Amazon, iTunes, and Walmart are eligible for transfer. However, some gift cards may not be eligible, so make sure to check before proceeding.
Step 2: Create a PayPal Account
If you don't have a PayPal account, create one by visiting the PayPal website. Creating an account is easy and only takes a few minutes. Once you have created an account, you can link your bank account to your PayPal account.
Step 3: Link Your Gift Card to Your PayPal Account
Once you have created a PayPal account, you can link your gift card to your account. To do this, select the ‘Link a Card’ option on the PayPal website and enter the gift card details. Once you have entered the gift card details, click on the ‘Link Card’ button.
Step 4: Confirm the Gift Card
After linking your gift card to your PayPal account, you will need to confirm the gift card. PayPal will send a confirmation code to your gift card email or phone number. Enter the code on the PayPal website to confirm the gift card.
Step 5: Transfer the Gift Card Balance to Your PayPal Account
Once your gift card is confirmed, you can transfer the gift card balance to your PayPal account. To do this, select the ‘Transfer Balance’ option on the PayPal website and enter the gift card balance. Once you have entered the gift card balance, click on the ‘Transfer’ button.
Step 6: Transfer the Balance to Your Bank Account
After transferring the gift card balance to your PayPal account, you can then transfer the balance to your bank account. To do this, select the ‘Transfer Money’ option on the PayPal website and select your bank account. Enter the amount you want to transfer and click on the ‘Transfer’ button.
Step 7: Wait for the Transfer to Be Completed
Once you have initiated the transfer from your PayPal account to your bank account, it may take a few business days for the transfer to be completed. Be patient and wait for the transfer to be completed.
FAQ – Frequently Asked Questions
| Question | Answer |
|---|---|
| Can I transfer any gift card to my bank account? | No, not all gift cards are eligible for transfer. Check with PayPal to see if your gift card is eligible. |
| Can I transfer the gift card balance to someone else’s PayPal account? | No, you can only transfer the gift card balance to your own PayPal account. |
| How long does it take for the transfer to be completed? | It may take a few business days for the transfer to be completed. |
Conclusion
Transferring money from your gift card to your bank account through PayPal is a simple and easy process. Make sure to check if your gift card is eligible for transfer and follow the steps mentioned above to transfer the balance to your bank account. If you have any questions or concerns, reach out to PayPal’s customer service team for assistance.
We hope this article was helpful! Thank you for reading.
