Having a prepaid card is a convenient way to pay for products and services, whether in-store or online. Instead of carrying cash around, you just load your money on your prepaid debit card, making it safer and more practical. Show
You can also get your paycheck and government benefits on your prepaid card. If you’re more into cryptocurrency, you can use the Bitcoin IRA, just like other available IRAs to receive your retirement benefits. We recommend the Bitcoin IRA review for proper guidance with this. With so many of us using prepaid cards, one commonly asked question is how to transfer money from a prepaid card to a savings or checking account? The first step in the process is to check if your card even allows you to transfer funds to your bank account in the first place. Can You Transfer Money From A Prepaid Card To A Bank Account?Yes. You can transfer money from a prepaid card to a bank account in almost all cases. But how you do it depends on what type of prepaid card you have. There are two types of prepaid cards: Which One Do You Have? Prepaid Debit CardThis is a card that can be used anywhere that credit/debit cards are accepted. If you have used your prepaid card at different places with no trouble, then you have a regular prepaid card. How to get money off your card? Follow these specific instructions if you have any of these cards: American Express Bluebird Card, Green Dot prepaid card, Netspend prepaid card, Key2Benefits prepaid card. If you don’t see your card there, you can still use three methods to get your money through MoneyGram, PayPal and USPS Money Order. Prepaid Gift CardThis type of card limits you to purchasing products and services from participating merchants, e.g., Home Depot. How to get money off your card?We’ve found that one way to get money off a gift card is to use a service like Raise. Method 1: How To Transfer Money From Your Prepaid Card To Your Bank Account Using MoneyGramWe struggled to find a simple, sure-fire way to move funds off our prepaid cards for a long time. One day, a helpful reader shared this clever hack that works with almost every prepaid card. Using a remittance service like MoneyGram, you can transfer money to your bank account quickly, cheaply and safely. Update: We’ve heard that not everyone can find the Account Deposit / Debit Card Deposit option in MoneyGram. If that’s the case, you can still use the PayPal or USPS methods we talk about below. Here Are Some Reasons Why We Love This Method: ✅ Safe: MoneyGram has been around since 1940, and is the second largest money transfer company in the world. ✅ Fast: Receive your money in minutes if you choose the Debit Card Deposit option. ✅ Cheap: Fees are as low as $1.99. See our section on how their fees are calculated. ✅ Reliable: Dozens of our readers have successfully used this method, and it appears to work for virtually any prepaid card. Here are the steps to transfer money from your prepaid card to your bank account using MoneyGram: Step 1: Sign Up For An Account At MoneyGram.ComGo to the MoneyGram website and click “Sign Up” to create an account using your email address. You may have to provide some photo ID to verify that you’re a legitimate person. Step 2: Navigate To The ‘Send Money’ Page And Fill Out Payment InfoOnce you’re signed up, click on the “Send Money” option in the menu. You should see a page like in the screenshot above. On this page:
Step 3: Complete Your Bank DetailsAfter clicking next, you’ll be taken to a page like in the screenshot above. Enter your Receiver’s details. This will be information like your name, address and account/debit card info. Click ‘Next’. According to the MoneyGram website, many account deposits are completed within minutes, subject to banking hours and systems availability. How Much Does It Cost?You’ll pay a fee based on the amount you are sending. For amounts less than $200, MoneyGram charges you a base fee of $1.99. For amounts above $200, it charges $1.99 + 1% of the transferred amount. For example, if you’re going to send $500, the fee will be $1.99 + $5, for a total of $6.99. You can estimate the fee before you send the money by using the fee calculator on the MoneyGram homepage. How To Save On The Transfer Fee?If you are going to use this service regularly, you can save on fees by enrolling in the MoneyGram Plus Rewards. With this program, you will save 20% on fees on your second transfer and 40% OFF on fees every fifth transfer. If you’re transferring a large amount, then taking advantage of the MoneyGram Plus Rewards program will save you lots of money! Is There A Limit When Transferring Money Using MoneyGram?The limit for sending money online is $10,000 per transaction and up to $10,000 every 30 calendar days. If you need to send more funds, you’ll have to do it in person at one of the MoneyGram agent locations, however, according to the MoneyGram FAQ, most agent locations only accept cash. How Long Does It Take To Transfer Money With MoneyGram?All of MoneyGram’s transactions occur within the same day, including prepaid card transfers to your bank account. Ready to get your money off your prepaid card? Visit the MoneyGram Website to get started. Visit MoneyGram Site! Method 2: How To Transfer Money From Your Prepaid Card to Your Bank Account Via PayPalYou can send the money inside your prepaid card to your personal PayPal account. PayPal will charge you a minimal fee, but the process is easy and you can do it all online. Step 1: Create a PayPal account.If you don’t have an account yet, you can create one for free on the PayPal website. You’ll need to provide the following:
After completing your application, it only takes a few minutes for your account to be approved and activated. Step 2: Link your prepaid card AND an active bank account to your PayPal account.Next, link your prepaid card account to your PayPal. This will allow you to send money from your card to your PayPal account. You also need to link an active bank account, a debit card, or a credit card to your account. This is where you will withdraw the money you receive from your prepaid card. To link to your bank account, follow these steps:
To link your prepaid card, follow these steps:
Once you get a notification that the charges were approved, you can then send money from your prepaid card to PayPal. Step 3: Transfer money from a prepaid card to your PayPal and bank account.Now you’re ready to transfer money from your prepaid card to PayPal and your bank account:
The amount should be credited instantly to your PayPal account. After this, you can transfer the amount in your PayPal account to your bank account so you can withdraw it in cash. Fees:
Method 3: How To Transfer Money From Your Prepaid Card to Your Bank Account Via USPS Money OrderYou can also transfer money from your prepaid card to your bank account using a US Postal Money Order. Unlike the PayPal method, you’ll need to go to the Post Office, so make sure you look up the address and confirm their policies in your area. Here are the steps:
Fees:
Popular Prepaid Cards That Allow Transfers To Bank Accounts (With Instructions)We get many queries about transferring funds from prepaid cards to bank accounts. So we’re able to see which cards most people need help with. Here’s a list of common prepaid cards in the US and their exact instructions on how to transfer from the prepaid card to your bank account. American Express Bluebird Prepaid CardThe American Express Bluebird card is a prepaid debit card that has no monthly or annual fees, no overdraft fees, no foreign transaction fees, and free ATM use. The card can be used to pay bills online or via a mobile device and can be loaded with direct deposit, cash load at Walmart, mobile check deposit, and by using a debit or credit card. The card is issued by American Express and serves as an alternative checking account for those who have been denied by traditional banks. Bluebird prepaid cardholders can also transfer money from Bluebird to a linked savings or checking account via these steps:
Key2Benefits Prepaid CardIf you have a Key2Benefits Prepaid Card, you can transfer some or all of your balance to your personal savings or checking account. You need to have the Routing Number and Account Number of the bank account you wish to transfer into for you to complete the transaction.
Green Dot Prepaid Visa CardGreen Dot Prepaid Visa Card is a prepaid debit card that you can use to make purchases, pay bills and get cash. They have different cards depending on your needs, including one specifically for teens. Green Dot Prepaid Visa Cards are only sold in stores. You can transfer money from your Green Dot prepaid card to other bank accounts, subject to the receiving bank’s limitations and guidelines. To transfer money from your Green Dot prepaid card to another Green Dot card or an external bank account, follow these instructions:
Netspend Prepaid Card (Visa, MasterCard, Skylight ONE)A Netspend Prepaid Card will allow you to move money to your bank account, as well as to other Netspend cardholders. To transfer funds to your bank account:
Note that this service may not be available for some banks. You have to check with the bank if this is available if you run into any issues. Other Visa Prepaid CardsIf you have a Visa Prepaid Card, the process of how to transfer money to your bank account will depend on the type of card you have. To transfer a visa prepaid to a bank account, you have to check with your prepaid card provider if this service is available. Go to this link to find your prepaid card and visit the corresponding website: https://usa.visa.com/pay-with-visa/find-card/get-prepaid-card. (Note: at the time of writing, we couldn’t find a money transfer feature for Visa prepaid cards like smiONE, ACE Cash Express, MyVanilla, and One VIP. So you should use either the MoneyGram, PayPal or USPS method for these cards. ) Here’s the process to go through if you have a prepaid debit card that was not listed above. How To Transfer Money From Prepaid Card To Bank Account (For Cards not Listed Above)The process is slightly different depending on each prepaid card but here’s a step-by-step guide that should apply to most cards: Step 1: Find Out If Your Prepaid Card Can Be Used Anywhere, Or Is Limited To Participating Merchants OnlyVisit your prepaid card company’s website and look at the card’s features. Can it be used anywhere that regular debit cards are accepted? For example, certain cards have the following features: The Card can be used to purchase merchandise and services anywhere Visa debit cards are accepted in the United States. However, other cards are only limited to participating merchants: Your Card can be used to purchase merchandise and services at any grocery store, specialty foods store, food truck, or online food retailer in the US where Visa debit cards are accepted. If your card can be used anywhere in the US (the first type of card), then you can move on to step two. Otherwise, read our section on transferring gift card balances to your bank account. Step 2: Visit Your Prepaid Card’s Website To See If They Offer Transfers To A Bank AccountSome prepaid card companies help you do transfers to your bank account through their website or app. So your first stop should be the website of your prepaid card provider. Check Your Card Company’s FAQ PageHere, they’ll usually have a FAQ (Frequently Asked Questions) page. If your card company allows transfers, they’ll state it very clearly. For example, the Bank of America CashPay card says the following on their FAQ page: “…you may perform an Online Funds Transfer via the CashPay Customer Service website at www.bankofamerica.com/cashpay (fee will apply) to transfer funds from your CashPay account to a traditional checking or savings account owned by you in the United States.” Not in the FAQ? Check Your Card Company’s Features PageIf you don’t find it on your card provider’s FAQ page, check the features and benefits page of your prepaid card. On the Netspend website, this information appears on the ‘Card Benefits’ page: “Have a bank account in addition to your Netspend Card Account? Link your financial accounts from participating bank accounts and you can transfer money between them and your Netspend Card Account.” If your prepaid card company offers transfers to your bank account, then carry on to the next step. If it’s not clearly stated, then your best bet would be to use the PayPal method or the USPS money order method. Step 3: Register Or Log-In To Your Prepaid Card AccountAfter finding out whether your prepaid card provider allows such a transaction, you can sign-up for an account or log in if you already have an account. If you need to do registration, then you will need your prepaid card with you. After signing up, you can use the login details for future transactions. Step 4: Link Your Bank Account To The Prepaid Card By Providing The Routing Number And Account Number Of Your Bank AccountTo perform the transfer, most prepaid card providers will ask you to link your bank account by entering your bank account’s routing number and account number. Your routing number is a 9-digit number that tells you where your bank account was opened. One place to search for it is at the bottom of your checkbook. It’s also known as your ABA or RTN number. Make sure you have this ready. If you don’t have the routing number of your bank account, check with your bank’s website. Most banks have a page where all their routing numbers are listed. Have a look at the U.S. Bank’s website for example. Step 5: Follow Additional Instructions From The Prepaid Card Company And Perform The Transfer Online To Your Bank AccountEvery prepaid card provider will have a slightly different set of instructions so make sure to follow them carefully. At any point, if you’re unsure of what to do, your prepaid card provider should have a customer service hotline that you can call for help. Here’s an example of the detailed instructions provided by the Key2Benefits Prepaid Card website. How Long Will It Take For The Money To Be Transferred To My Bank Account?How long the transaction takes depends on your bank. Some transfers can be completed within a few hours or on the same business day. For most banks, though, it usually takes a few business days before you see the money in your account. This is because you must create a new “transfer-to” account online, which can take up to 5 business days to authenticate. After that, it can take another 2 business days to receive the money in your account. How To Transfer Gift Card Balances To Your Bank Account Using RaiseYes, you can transfer money from most prepaid gift cards to your bank account using a service called Raise. Unlike most prepaid cards, gift cards are limited. You can’t send money to another person and you can only use them at specific stores. Most gift cards also have expiration dates, so you need to use them quickly so you don’t lose the money. In addition, gift cards are disposable and can only be used until the balance reaches zero, while most prepaid cards are reloadable and can be used indefinitely. Finally, the PayPal method and the USPS money order method we discussed above won’t work for gift cards because they don’t contain cash. What you have there are basically store credits, not actual money. That’s where Raise comes in. It’s an online marketplace where you can buy, sell, and trade your gift cards at the best prices. The catch? Don’t expect to cash out the full amount of your gift card. You’re going to get bids for your gift card, so it’s impossible to determine the exact amount you can get since it all depends on what other people are willing to pay for. So before you sell your gift card on Raise, make sure that it’s really the cash value that you want. Otherwise, you may want to just use it in your favorite store instead. Follow these steps:
Fees:
Note:There are certain brands and types of gift cards that Raise doesn’t accept. You can check the updated list here. The BottomlineThe ability to transfer money from your prepaid card to your bank account will depend on the type of card you have. The best way to check whether your card has this feature is to check the customer service section of your prepaid card or gift card provider. If transferring money to your bank account from your prepaid card is not available, you can try the options listed above such as using a money transfer service or mobile payment apps to move your money. Did any of these methods work for you? What worked, and what didn’t? Let us know in the comments below! How do I convert my gift card to money?You can easily turn gift cards into cash (or more desirable gift cards) through reputable sites like Raise and CardCash. The site you choose will depend on the ease of sale and the type of gift card you have. You won't get full value for it, but that's still better than letting a gift card go unused.
Is there a way to withdraw money from a gift card?First, you can set up a PIN and use it at your local ATM to pull out funds. Another choice is to visit the bank teller and ask to withdraw cash. An alternative method to getting cash back from a prepaid card is when you are purchasing an item at a register.
Can I transfer money from a Visa gift card to my account?You can transfer visa gift cards to a bank account using Venmo. Venmo is somewhat similar to PayPal and you can put your card balance in your Venmo account. Get started with transfer by; Downloading the Venmo app.
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