A gift card is a prepaid plastic card used for payment at various retail stores, restaurants, and other businesses. Before using these cards, you must load them with money; some even allow you to transfer that money to digital wallets. Today, we will discuss moving cash from a Visa Gift Card to a PayPal account since this is the topic we will be covering.
There is often no fee connected with reloading one of these cards; however, there may be an initial cost associated with obtaining one. After the original balance on any of these cards has been used up, the card is rendered useless and cannot be used for anything else. However, you may reload the balance on some of these cards.
If this is the case, and you are interested in understanding how to transfer money from a Visa Gift Card to PayPal, I strongly suggest you continue reading this article.
Where and how can I get a gift card?
Gift cards are available online and offline and have a wide range of monetary values. At a local shop, you can quickly and simply pay for them with cash, a debit, or a credit card.
You can send someone a card already preloaded with the amount you choose. Walmart is a convenient option for buying gift cards because it is easy to visit the shop. You can rapidly acquire these cards over the Internet. Depending on your preference, you may get a physical or digital card.
What do people do with gift cards?
You need to go to the shop that issued the card to use it, so it’s easy to use. Some, however, come in physical gift cards that may be redeemed for merchandise at various retail locations or even online.
Physical gift cards have the advantages of being usable at virtual and brick-and-mortar establishments and disposable after their value has been depleted. If the card can be reloaded, it is yours to retain and add funds to at any time.
PayPal is an online service for sending and receiving monetary transactions. Visa Gift Card balances may also be transferred to a PayPal account and used for purchases with that service.
How do you transfer money from Vanilla Visa to PayPal?
- Visit PayPal.com or use the PayPal app.
- Choose PayPal’s “Wallet” option at the top of the upper navigation bar.
- Choose “Link a debit or credit card.”
- Select “Manually link a card.”
- You must enter a Vanilla Visa card number, CVV, and expiration date.
- Finally, press the “Link Card” button.
After verifying the card, the remaining money may be sent to your PayPal account. If you want to use a gift card to fund your account, you may click “add money to your account” and select the appropriate option. With this sum, you may buy anything on PayPal.
Can I purchase a gift card using my PayPal balance?
You may use PayPal to buy gift cards from several retailers. You may use PayPal to purchase a gift card after selecting the amount you want to spend.
If your available credit is insufficient to cover the cost of your purchase, any available funds from a connected bank account or a card will be used instead. Make sure the gift card balance may be spent on PayPal.
Can I send money from my PayPal account to my Cash App account?
Because of their mutual lack of interoperability, PayPal and Cash App cannot exchange funds with one another directly. However, you may use PayPal as a bridge by sending money from Cash App to a regular bank that accepts PayPal.
For this to work, both applications must access the same financial account. Transferring money between the two services may take more time than initially anticipated.
Could I use PayPal to load a Visa gift card?
You may buy gift cards using your PayPal balance and fill certain cards with additional funds using PayPal. However, you should ensure that the Visa card may be refilled using PayPal, a bank account, or cash at a physical location.
You may rapidly load funds onto a debit card with the same convenience as wire transfers to bank accounts. To do so, follow the same steps as when wiring funds to a bank account, only this time, choose a Visa card that the merchant accepts.
What are the advantages of linking a Visa gift card to your PayPal account?
It’s worth noting that there are several advantages to linking a Visa gift card to your PayPal account, including the following:
- You may pay for the products you buy with PayPal by immediately drawing cash from the card. This is safer and more convenient than using the card since you may use it at any store, even if they don’t accept prepaid cards.
- Quickly and easily transfer money between your PayPal account and the prepaid card.
- Your Visa gift card funds may be easily transferred to your bank account using PayPal. This is handy if your financial institution doesn’t provide fee-free transfers to and from your prepaid card and checking account.
- A prepaid card can be used to send and receive money from friends. Transferring the money to your card is quick and straightforward.
PayPal’s flexibility makes it an attractive option for sending payments from a Visa Gift Card. If you are lucky enough to get one of these cards as a present, you may use the money for whatever you choose.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com