What are gift cards – Withdraw Gift Card To Bank Account
Withdraw Gift Card To Bank Account: Gift cards are prepaid debit cards, with a specific value; you can use them to purchase goods and services from the companies that issue them, they can sometimes serve as an alternative to an ATM card(open-loop gift card). Virtually all top retail stores own gift cards. These companies load the cards for use with a specific amount, which customers can use whenever they want to make purc
Types of gift cards
There are majorly two types of gift cards that matters to the exchange value of your gift card;
- Physical gift cards
- E-code/Digital gift card
E-code gift cards have no physical form; instead, a unique gift code number and PIN are sent to your email address, which you can use to redeem the gift card at an online retail store when making purchases. E-code generally has a lower resale value compared to physical gift cards.
Physical gift card comes in plastic and you can purchase them in stores. Physical gift card is the most common and sorted after of the two types of gift cards. Its resale value is higher compared to E-codes.
Receiving gift cards is great but making sure you’re able to use them for anything is the best part of it all. This gives reasons for you to know how to convert your gift card to money in your bank account a great deal. People sometimes don’t have any use for the gift card in their possession and this has contributed heavily to funds lost in unused gift cards. Converting your gift card to cash ensures you can utilise the voucher one way or the other.
Financial experts discovered that over $1 billion in gift cards goes to waste and every individual in the United State has over $150 in unused gift cards, this is the major reason for the recent development of gift card exchange platforms.
In Africa, there are gift card exchange platforms where you can trade your gift card for cash and the funds will be sent to your bank account, this is the easiest way for people in Africa. In the USA, however, some banks allow the transfer of funds in gift cards into customers’ accounts without the help of any third party, the Revolut online bank is a popular example.
If you are in Nigeria or Ghana, the best place to transfer the funds on your gift card to your bank account is through Cardvest, an online gift card exchange platform. Cardvest is a trusted gift card exchange platform that has been in business since 2016, we have been trusted by lots of traders over the years, and this has further strengthened the trust the public has in us to offer the best gift card exchange service.
We exchange various types of gift cards from open-loop gift cards like American Express gift cards, Visa gift cards, Vanilla gift cards e.t.c and Closed-loop gift cards like iTunes gift cards, Sephora gift cards, Nordstrom gift cards, Footlocker gift cards, Wallmart gift cards among others. You can use the rate calculator feature on our platform to check for the gift cards you can trade and the prevailing exchange rate for the gift cards.
Our exchange rates are designed to be favourable to the customers, when you exchange your gift card with Cardvest you get the best value for them because we offer one of the best exchange rates in the market.
We understand that no one wants to wait for hours or days to receive payment for their gift card exchange, so we have made it an important policy at our organization to make sure we disburse payment for gift card exchange within minutes. We pay to your bank account or Cardvest wallet immediately after the authenticity of your gift card is confirmed.
You can access our trading service through the website or mobile app available for download on the Google Play Store and the App Store.
How to withdraw funds on a gift card to your bank account using Cardvest
- The first step is to create an account or log in if you already have one.
- Select the type of gift card you want to trade on the rate calculator interface and click on continue to trade card.
- On the next page input the gift card details, upload the gift card picture and click on place order.
- Your gift card will be verified and the naira or Cedis (depending on your choice) value will be sent to your account.
- Save your bank account details on your Cardvest account profile, you can save multiple bank account details.
- Select the account number you want your funds sent. Check transaction history to check if funds have been sent to your bank account.