Gift cards are one of the most convenient gifts you can give someone because it gives them the freedom to purchase whatever they want. Although, only some physical stores or online have the best choice of gift cards. eBay gift card is one of the best gift cards out there you can gift someone. It is because the gift card allows the person to get almost any product of any variety within budget from their entire store. However, you may still want to transfer eBay gift card to bank account to use the cash for other things. In this article, we will further elaborate on this matter.
Is It Possible to Transfer eBay Gift Card to Bank Account?
Yes! Possible. Actually, Transferring the eBay gift card to a bank account means converting your gift card into direct cash. However, eBay they do not let you go through the process directly. Instead, you must resort to other methods to turn the card into cash. From eBay directly, you can put the card into your eBay funding, and then you will be able to purchase items on eBay using those funds.
According to the terms and conditions established by eBay, their gift cards are not refundable, reloadable, or redeemable for credit or cash until or unless the law requires it. Even still, there are other ways to transfer eBay gift cards to a bank account or cash.
How to Transfer eBay Gift Card to Bank Account Using Alternative Ways?
Since eBay does not let their gift card holders turn the cards into direct cash, there are other ways of doing it. In this part, we will discuss some ways you can turn your eBay gift card into cash.
1. Using Reddit
Using Reddit is one of the most innovative ways of transferring your eBay gift card into cash. There is a specific subreddit for gift cards from various stores where you can exchange unwanted gift cards for cash.
- To do that, you need to become a member of Reddit by creating an account.
- Setting up an account is free.
- Visit the website and head to the subreddit for gift card exchanges.
- Form a post with all the details of your gift card.
- You should also include the value of your gift card and how much you are willing to sell it.
- Post it and wait for other Redditors or interested buyers to notice your post.
Remember that you have to sell your gift card slightly lower than their worth or what you are asking for because buyers will want to negotiate the price.
2. Trade or Sell the Gift Card to Another Person
One of the simplest and fastest methods of turning your gift card into cash is selling or trading it with someone interested in buying it. It could be your friend, family member or colleague. It should be easy for you to find someone willing to buy an eBay gif card because many people buy stuff from eBay as they have a wide range of products. You can also sell it to someone who purchases products from eBay often because they can use it up even quicker.
However, it is best to sell it to someone close to you as they are most likely to offer a better deal than the strangers you have to deal with on the internet. Even if you are selling it on any site, you will get less than you would have gotten from a friend or family. That is because strangers are bound to bargain and try to find flaws so that the price goes low.
3. Selling it On Craigslist
This option may not be favorable for most people because selling your gift card on Craigslist will bring the worth much lower than it is. This is because the buyers on Craigslist are known for negotiating a lot. But it is one of the fastest ways for selling your gift card and receive the money if needed. You can sell a $700 eBay gift card for $650 or $630 and around that. The price can also go lower if the buyer wants to lower it and if you are okay with it.
4. Purchasing Items on eBay and Profit From it
Without having to resort to other complicated plans, buying stuff from eBay at a discounted price and then reselling them at a high price will get you some profit. You can put in a little effort and look through the sale or discounted products on eBay and get those unique items that can be quickly sold to people to make some profit. Using retail arbitrage, you can convert the eBay gift card by purchasing products from eBay and then resell them to other people at a higher price than what you paid.
You can sell those stuff online in many places, such as Facebook, Offer Up, Craigslist, Etsy, eBay itself, Poshmark, Marketplace, and eBid. eBay often has many items at discounts, and gift cards can be used to purchase those products.
How to Exchange an eBay Gift Card for Cash?
You cannot directly transfer your eBay gift card into the bank account as eBay does not allow the action. But you can exchange your eBay gift card for some cash to keep in your pocket by using the Quchange App.
- Download the Quchange app on your phone from Google Play or App Store.
- Set up your account.
- Submit all the details of your gift card for validation and wait for the app to approve it.
- Once the card has been sold and approved, you can withdraw all the proceeds from sales into your bank account.
You can try this app instead of letting your card go to waste. If you cannot use the other methods, then trying this app will be the last option. The Quchange app also allows you to sell other gift cards such as Amazon, Nordstrom, Steam, American Express, Vanilla Visa, and so much more.
The eBay gift card is helpful for many people who shop from the eBay store. Because you can purchase any items from the entire store using their gift card. Moreover, you can also avail of discounted or sale products with a gift card. However, people that do not use eBay often need to find alternate ways to transfer eBay gift card to bank account. As eBay does not let you transfer the gift card into cash directly. Using the card or selling it to another person is better than letting it go to waste.
Frequently Asked Questions
There are some retailers, such as Walgreens, Kroger and other retailers near your location, that carry the eBay gift card. However, you will not be able to purchase them from eBay directly as they are updating their site regarding the matter now.
Gift card scams are found very often on various sites. You should only send your eBay gift card code to people asking for it online. Also, outside of the eBay platform, do not use the gift card to pay.
If you have a PayPal account, you can use a gift card as a funding source for your PayPal purchases by linking the two accounts. Gift card balances can be transferred to PayPal balances in an instant.
Quchange is an app that facilitates the conversion of eBay gift cards into cash. To get started, simply download the app from the App Store or Google Play and create an account. Put in your card details and wait for the permission to come through.