Where to Exchange Gift Cards for Cash

1. Sell Gift Cards Online

One of the most common methods for exchanging gift cards for cash is selling them online through gift card exchange websites. These platforms allow you to list your gift card for sale, usually at a discounted price, and then receive cash once a buyer purchases it.

• Popular Websites: Some well-known websites include Raise, CardCash, and Gift Card Granny. These platforms offer a marketplace where you can list your gift card and get cash once it's sold.
• Process: The process is relatively straightforward. You register on the platform, list your gift card, and set a selling price. Once someone buys the card, you receive the payment, usually through PayPal or direct deposit.
• Fees and Discounts: Be aware that these platforms often charge fees or offer only a percentage of the card's value, typically between 70% to 90%. The percentage depends on the demand for that particular gift card.
• Pros: Selling online gives you access to a large market of buyers, increasing the chances of selling your card quickly. You can also compare offers across multiple platforms to get the best deal.
• Cons: The main downside is that you won't get the full value of your gift card, and it may take some time to sell, especially if the card is for a less popular retailer.

2. Use a Gift Card Exchange Kiosk

If you prefer a quicker option, you might consider using a gift card exchange kiosk. These kiosks are usually located in shopping malls, grocery stores, and other retail locations.

• How It Works: You insert your gift card into the machine, which then offers you an instant cash offer. If you accept the offer, you can receive cash, a voucher, or a prepaid debit card on the spot.
• Where to Find Them: Coinstar Exchange is one of the most recognized companies providing these kiosks. You can find them in many locations across the United States.
• Pros: The biggest advantage of using a kiosk is the speed of the transaction. You can get cash immediately without waiting for a buyer.
• Cons: The cash offers at kiosks are usually lower than what you might get online, often around 60% to 85% of the card's value. Additionally, kiosks may not accept all types of gift cards.

3. Sell to Friends or Family

Another option is to sell your gift card to someone you know. This method can be one of the most straightforward and rewarding, as you might be able to negotiate a better deal.

• Advantages: Selling to friends or family members could allow you to get closer to the full value of the card, especially if the person was planning to shop at the retailer anyway. Additionally, this method avoids fees and processing times associated with other options.
• Process: Simply offer the card to someone you know, negotiate a price, and make the exchange.
• Pros: You can often get a better deal and make the exchange quickly and easily.
• Cons: The main challenge is finding someone who wants the specific gift card and is willing to pay cash for it. This method also requires trust between both parties.

4. Use Gift Card Buyback Programs

Some retailers and websites offer gift card buyback programs, where they purchase your unwanted gift cards for cash or store credit.

• Examples: Best Buy, Walmart, and other major retailers often have buyback programs, either in-store or online. These programs typically offer store credit instead of cash, but some might offer cash options as well.
• Process: Bring your gift card to the retailer, where they will evaluate it and offer you a cash or store credit amount based on its value.
• Pros: This method is convenient if you plan to shop at the retailer offering the buyback. It can also be faster than selling online.
• Cons: The amount offered is often less than the card's full value, and some programs only offer store credit, not cash.

5. Use Peer-to-Peer Platforms

Peer-to-peer (P2P) platforms like Facebook Marketplace, Craigslist, or even eBay can be another way to exchange your gift card for cash. These platforms allow you to list your card and negotiate directly with potential buyers.

• How It Works: You create a listing for your gift card, set your price, and wait for interested buyers to contact you. Once a deal is made, you can meet in person or arrange for an online transaction.
• Pros: P2P platforms may allow you to get closer to the full value of your gift card, as you can set your price and negotiate directly with buyers. There are also no fees involved, unlike with gift card exchange websites.
• Cons: This method requires more effort and time. You need to be cautious of scams, especially on platforms like Craigslist. Meeting in person also carries some risks, so it's essential to take precautions.

6. Use a Gift Card Exchanging App

Several mobile apps have emerged that allow you to sell or trade your gift cards for cash or other gift cards. Apps like Cardpool, Gyft, and Prepaid2Cash offer convenient ways to exchange gift cards directly from your phone.

• Functionality: These apps function similarly to online gift card marketplaces, but with the added convenience of being accessible on your smartphone. You can scan your gift card, list it for sale, and receive payment once it's purchased.
• Pros: Mobile apps offer a convenient way to manage your gift cards and get cash for them without needing a computer. Some apps even offer additional features, such as the ability to trade gift cards for others.
• Cons: Like online marketplaces, these apps may take a percentage of the card's value as a fee, and you may not get the full value of your card.

7. Exchange for Cryptocurrency

For those interested in the digital currency space, some platforms allow you to exchange your gift cards for cryptocurrency, such as Bitcoin or Ethereum. Websites like Paxful and Bitrefill offer these services.

• Process: You list your gift card on the platform and choose cryptocurrency as your preferred payment method. Once a buyer purchases your card, you receive cryptocurrency in your digital wallet.
• Pros: This option can be appealing if you're looking to invest in or use cryptocurrency. It also offers the potential for your crypto assets to appreciate in value over time.
• Cons: The value of cryptocurrency is highly volatile, so the value you receive today could be worth more or less tomorrow. Additionally, not everyone is familiar or comfortable with handling digital currencies.

8. Consider Charitable Donations

If you’re not in immediate need of cash but want to do some good, consider donating your gift card to charity. Some organizations accept gift cards as donations, which they can then use or sell to raise funds.

• Where to Donate: CharityChoice, Give A Gift Card, and other organizations accept gift cards as donations. Some platforms even allow you to choose the charity that will benefit from your gift.
• Pros: Donating a gift card can provide a tax deduction and give you a sense of contributing to a good cause. It's also a way to get rid of unwanted gift cards without the hassle of selling them.
• Cons: You won’t receive cash in exchange for your gift card, but you may get a tax deduction depending on your local tax laws.

9. Trade Your Gift Card

If you're not in dire need of cash, another option is to trade your gift card for another one that you might find more useful. Some platforms and apps facilitate these trades.

• How It Works: Websites like CardCash and CardSwap allow you to exchange your gift card for another from a different retailer. This option can be useful if you receive a gift card for a store you don't shop at, but could use a card for a different store.
• Pros: This method allows you to get a card that better suits your needs without losing as much value in fees or discounts.
• Cons: You still might not get the full value of your original gift card, and the selection of available cards to trade with can be limited.

In conclusion, there are several ways to exchange gift cards for cash, each with its own advantages and disadvantages. Whether you choose to sell online, use a kiosk, trade with friends, or even donate, the best option depends on your specific needs and preferences. Always consider the value you're getting, the convenience of the method, and the potential risks involved. By doing so, you can make the most of your unwanted gift cards and turn them into cash or something more useful to you.