Can You Transfer Mastercard Gift Card to Bank Account?

Be honest. We’ve all have received a Mastercard gift card at some point in time maybe for a birthday, holiday, or as a reward. They’re flexible, sure, but sometimes cash in the bank just feels more useful. If you’ve ever searched for how to transfer Mastercard gift card to bank account, you’re not alone.

This guide cuts through the confusion, explains your options clearly (and their limits), and offers smart alternatives.

We’ll also cover how to transfer money from Mastercard gift card to bank account using popular apps and explore how to add Mastercard gift card to PayPal for spending power. No hype, just the facts you need.

How does Mastercard work?

Think of a Mastercard gift card like a prepaid debit card with a fixed amount. It carries the Mastercard logo, meaning it’s accepted almost anywhere Mastercard is – online, in stores, for bills. Unlike a debit card linked to your bank, it’s not reloadable. Once the balance is spent, the card is done.

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Funds are loaded onto the card when purchased. You activate it (usually online or by phone), sign the back, and start spending. It’s designed for direct purchases, not banking transfers.

The way these cards are built from the ground up – really explains why figuring out how to transfer Mastercard gift card to bank account often feels like trying to fit a square peg in a round hole. It just isn’t always straightforward because it wasn’t meant to be!

One more heads-up: While Mastercard gift cards are accepted almost everywhere, there can be tiny quirks or differences compared to other brands. If you’re curious about the little details, you can always dig into the Visa vs Mastercard gift card nuances down the road.

Can You Transfer MasterCard Gift Card to Bank Account?

Let’s be really upfront: No, there isn’t a simple button you can press directly through Mastercard or the gift card company to move money from a standard Mastercard gift card straight into your bank account.

Think about what these gift cards are for – they’re designed for spending at stores or online, not for pulling out cash or moving money around like your regular bank account.

So, if you’re searching online for how to transfer Mastercard gift card to bank account, understand that any method you find involves some creative workarounds using third-party apps or services.

These workarounds usually come with fees, some hoops to jump through, and honestly, a bit of risk sometimes. Getting this straight in your headfirst is super important before you dive into methods that promise to show you how to transfer money from Mastercard gift card to bank account.

Alternative Methods to Transfer Mastercard Gift Card to Bank Account

While not direct, funds can sometimes be moved using peer-to-peer (P2P) payment apps. This involves adding the gift card as a payment method and sending money to a trusted friend/family member (or even a second account of your own), who then sends it back.

First, your bank account needs to be linked. Heads up: fees apply, limits exist, plus not all cards work. Keep this in mind.

Using PayPal to Transfer Mastercard Gift Card to Bank Account

• Add the Card: Log into PayPal. Go to ‘Wallet’ > ‘Link a card’. Enter your Mastercard gift card details (number, expiry, CVV) as if it were a debit/credit card. This step covers how to add Mastercard gift card to PayPal.
• Send Money: Use the ‘Send & Request’ tab. Choose ‘Send to friends and family’ (important, as ‘Goods and services’ incurs fees for the recipient). Enter the email/phone of a trusted person (or a separate PayPal account you control).
• Select Funding: When confirming, ensure your Mastercard gift card is selected as the payment source.
• Receive & Withdraw: The recipient must have a PayPal account linked to their bank. Once they receive the funds, they can transfer them to their bank account (usually 1-3 business days). They can then send the cash back to you via another method, or you could access it if you sent it to your own second account. This multi-step process is a common approach for how to transfer money from Mastercard gift card to bank account.

Note: PayPal may place holds on funds from new accounts or large transfers. How to add Mastercard gift card to PayPal is usually simple but using it this way has caveats.

Using Venmo to Transfer Mastercard Gift Card to Bank Account

• Add the Card: Open Venmo, go to ‘Me’ > ‘Wallet’ > ‘Add bank or card’ > ‘Card’. Enter your gift card details.
• Send Payment: Tap ‘Pay or Request’. Enter the username of a trusted contact. Enter the amount (ideally less than the card balance, minus fees).
• Select Funding: Tap the payment method and choose your Mastercard gift card.
• Receive & Cash Out: The recipient receives the funds in their Venmo balance. They can then instantly transfer to their linked bank account (for a fee) or use the standard free 1-3 day transfer. They then return the funds to you. This is another variation on how to transfer Mastercard gift card to bank account.

Note: Venmo has strict limits, especially for new users or unverified accounts. 

Using Cash App to Transfer Mastercard Gift Card to Bank Account

• Add the Card: Open Cash App, tap the profile icon > ‘Linked Banks’ > ‘Link Credit Card’. Enter your gift card details (treat it like a credit card).
• Send Payment: Tap ‘$’ on the home screen. Enter the amount and the ‘Cashtag’ of a trusted contact. Add a note (e.g., “Gift card transfer”).
• Select Funding: Ensure your Mastercard gift card is selected as the funding source.
• Receive & Deposit: The recipient receives the funds. They can deposit them to their linked bank account (Instant deposit fee or standard 1-3 days free). They then send the cash back to you. Achieving how to transfer Mastercard gift card to bank account via Cash App follows this pattern.

Important Fees and Limitations

Attempting how to transfer Mastercard gift card to bank account via apps isn’t free or foolproof. Be aware:

Transaction Fees

• PayPal: Sending via ‘Friends and Family’ using a card (instead of bank balance/PayPal balance) incurs a fee (around 2.9% + $0.30 in the US). Receiving bank transfers are free but take days; instant transfers cost ~1.75%.
• Venmo: Sending money using a credit card (which gift cards are often treated as) incurs a 3% fee. Instant transfers to your bank cost ~1.75% (min fee). Standard transfers are free (1-3 biz days).
• Cash App: Sending money using a credit card (gift card) incurs a 3% fee. Instant bank deposits cost ~0.5% – 1.75% (min fee). Standard deposits free (1-3 biz days).
• Delays in Fund Availability: Standard bank transfers take 1-3 business days. Instant options cost extra. Holds can be placed on new accounts or suspicious activity.

Note: This data is subject to change in case of changes in the policies of the mentioned companies overtime. 

Platform Limitations on Gift Cards

• Many gift cards explicitly prohibit use with P2P apps in their terms. Transactions might be declined.
• Apps may block transactions if they detect a prepaid/gift card.
• Daily/weekly sending and receiving limits apply, especially on unverified accounts.
• Risk of Fraud with Unofficial Methods: Websites or individuals offering “direct transfers” for a fee are almost always scams. The promise of an easy solution for how to transfer Mastercard gift card to bank account can be a trap.

Alternatives to Bank Account Transfers

Given the fees, hassles, and risks involved in figuring out how to transfer Mastercard gift card to bank account, consider these simpler, often better, alternatives:

• Just Swipe It Like Regular Cash: Honestly, this is what it’s made for! Use it for everyday stuff: grab groceries, fill up your gas tank, treat yourself to lunch out, or pick up essentials at the drugstore. At checkout, it works just like your debit card. Need shampoo or bread? Your gift card has you covered, freeing up cash in your actual bank account. Shopping online? You can use Mastercard gift card on Amazon, simply add it to your Amazon wallet when you check out. Easy.
• Combine Those Pesky Small Balances: Got a few gift cards with little bits left? Pool them together! Many stores (both online and in-person) let you use multiple cards or payment methods for one bigger purchase. Stretch those dollars further.
• Knock Out a Bill: Surprise! Lots of companies you pay every month – think utilities, your phone, internet, even some insurance providers – accept Mastercard payments online. Use the gift card to cover a bill. It’s a smart way to turn that gift into essential services, giving you one less worry. (Thinking about how to get more? While not a direct use, some folks explore free gift cards through rewards programs as a bonus strategy).
• Skip the Transfer, Shop Directly with PayPal: Here’s a great workaround: Since you can how to add Mastercard gift card to PayPal, just use it right there as your payment method when you checkout online with PayPal. Millions of stores accept it. This way, you leverage the card’s full value instantly – no transfer fees, no hassle. It completely avoids the complexities of how to transfer money from Mastercard gift card to bank account.
• Digital Card? Same Great Options: An e-gift card works similarly to physical ones. All those spending options – paying online bills, shopping your favorite sites – remain the same. Just enter the details at checkout like you would any other card.

Wrapping It Up

To wrap up, that dream of a simple click solving how to transfer Mastercard gift card to bank account? It usually doesn’t match up with reality, and that’s by design.

You’ll likely pay fees – think 3% or more just to send the cash – plus you might face waiting periods, run into platform limitations that block the transaction, and honestly, there’s always some risk involved when you’re trying to bend the rules.

For most folks trying to figure out how to transfer Mastercard gift card to bank account, the much simpler and smarter move? Just use the card directly for stuff you need anyway.

Swipe it at the store for groceries or gas, pay a bill online, or treat yourself while shopping online (like on Amazon). It works perfectly, with no extra steps and no fees eating into your balance.