How do I transfer funds from a prepaid card to a bank account?
You can typically transfer money from your prepaid card to your bank account online, by logging in to prepaid card’s app or website. You can use a third-party service, like MoneyGram, to make the transfer if your prepaid card does not support transfers to bank accounts.
Please keep reading so I can give you more specific instructions on how to transfer money from a prepaid card to a bank account.
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Transfer Money From A Prepaid Card To Your Bank Account
With the majority of prepaid cards, you can log in via the card’s online app or website and transfer money from your prepaid card to your bank account. The options listed below are available to you if you’d like to learn about different ways to transfer money from a prepaid card to a bank.
Transfer Money From Prepaid Card Using Moneygram
If your card doesn’t permit a transfer to your bank account, you can try using a third-party service such as MoneyGram. In effect, you will be paying a bill to yourself using MoneyGram to pay it from the prepaid card to your bank account. You will need to have or open a MoneyGram account using your email address and a secure password. Before visiting the website, double-check that your email has been configured. To make a payment, enter the information from your prepaid card by clicking the “Send Money” icon. You will need to choose Debit or Credit, which should be on the face of the card, and then enter the amount, which is typically available by calling a phone number on the back of the card.
Select Account Deposit or Debit Card Deposit, as appropriate, to complete the process. Following that, you will be taken to a page where you can enter the payee’s details. The information for the prepaid card, your address, and your name and account number as the Receiver are added here. Click next after entering this data, and your transfer ought to be handled. MoneyGram does charge a fee for your transfer that must be at least $1.99 and has a $10,000 transfer cap.
Use Paypal To Transfer Money From Your Prepaid Card
You could do the same transaction with a PayPal account if your prepaid card is on your PayPal account. Additionally, you can link the card to your PayPal account and send money from PayPal to the associated bank account. There won’t be a charge for the transfer if you select the 1-3 day option.
From Your Prepaid Card To Venmo And Then To Your Bank
Similarly, you can add the card to Venmo, patting the balance in the Except if you choose the instant transfer option, there are no fees associated with using a Venmo account. Install the Venmo app and make an account if you don’t already have one. You can add your card by selecting the option to Add Gift Card. Put in your bank account and payment details and ask for the balance to be sent.
If Your Prepaid Card Doesn’t Work On Venmo Or Paypal
Finally, if your card won’t let you do any of these, use it to buy other prepaid cards that will permit it. Alternative gift cards can be bought at stores like Amazon, Walmart, and your local supermarket. Then select one of the choices listed above.
The Cost Of Sending Money Using My Prepaid Card
You can send money from your prepaid card to more than 80 countries around the world using Paysend. There are no transfer fees if you want to transfer money from your prepaid card to a bank account!
Additionally, sending money directly to a card will only cost you $1, €1.5, or $2 (or an equivalent amount, depending on where you are).
When Will I Get My Money?
Paysend is a quick way to send money. After you click “send,” your money should reach your recipient within a short period of time. The only thing that could cause it to take longer is if your recipient’s bank has a slower processing time than ours.
Therefore, why are you still waiting? Paysend enables quick and simple money transfers using prepaid cards. Install the app right away to get started!
Ways To Get Cash From Prepaid And Gift Cards
Get Cash From A Prepaid Visa Card
There are steps you must take before making a requested transfer from a Visa gift card to ensure that it will be processed. Make sure the card is still valid by first checking. Any money still on the card after it has expired now belongs to the card issuer. Make sure the card can be transferred as well by checking. If so, you might also be unable to transfer money out of it. After that, there might be an inactivity fee if you’ve used the card for a long time. Check that out to make sure you take into account any fees when transferring money from the card to your bank account.
Verify the card’s balance lastly. The fine print on the back of the card usually includes a phone number or website URL that will allow you to learn how much is still on it. Then you can compare the transfer fees to the maximum amount you can transfer and determine whether it is worthwhile to obtain the cash or whether you should simply use the card’s remaining balance.
Gain Cash From A Gift Card
Previously, Coinstar provided a gift card kiosk service where it would accept your gift card and give you cash back. The funds on your gift card can also be used in some alternative ways. You should be aware that you won’t receive your entire balance but are more likely to receive between 92% and 70% of it, depending on the type of card and the store, if any, to which it is linked.
Final Words
The article’s main focus was on prepaid card to bank account money transfers.
Even though it might not be the best course of action, moving funds from a prepaid card to your bank account is preferable to leaving them there. The actions you need to take are listed below.
Do you ultimately comprehend how to transfer money from a prepaid card to a bank account? Thank you so much for reading. Have a great day, and thanks for reading!
