What are Amazon gift cards?
Amazon gift cards are simply prepaid cards that can be used to purchase items on the Amazon store. They come in both physical and digital formats and can hold monetary values between $15 $2000, which is the maximum value a single Amazon gift card can hold. Furthermore, Amazon gift cards can be customised to suit a user’s visual designs, and the best part is that they do not expire once they are redeemed. Purchasing an Amazon gift card is quite easy, as there are many online and physical retail stores where you can purchase it.
Can You Transfer an Amazon Gift Card Balance Directly to a Bank Account?
No, you can’t. Amazon doesn’t offer a built-in option to withdraw your gift card balance as cash or send it directly to your bank. Once that balance is loaded onto your Amazon account, it’s designed to stay there for purchases on their platform. So, yeah, you can use it to pay for a new pair of headphones or even a bulk order of toilet paper (no judgment here). But if you’re dreaming of seeing those dollars hit your bank account—Amazon’s answer is a firm “no.”
How to Convert Your Amazon Gift Card Balance to Cash Using Amazon Pay
Simply navigate to the Amazon Pay section, log in, choose the gift cards feature, click on “Redeem a Gift Card,” and input your voucher code to add it to your balance. And then transfer the money to your bank account directly from Amazon Pay.
Step 1: Go to Amazon Pay
Start by opening your web browser and visiting the Amazon Pay website.
Step 2: Sign in to Your Amazon Account
Once on the Amazon Pay website, click the “Sign In” button at the top right corner. Enter your Amazon email address, phone number, and password to log in. If you have two-factor authentication enabled, you’ll need to enter the verification code sent to your registered device.
Step 3: Navigate to the “Gift Cards” Section
After signing in, locate the “Gift Cards” section.
Step 4. Click “Redeem a Gift Card”
This indicates you are ready to make your conversion.
Step 5. Enter Your Gift Card Code
Locate and enter your 16-digit gift card code on the card’s back (scratch off if needed) or in the email for digital cards.
Step 6: Transfer Funds to Your Bank Account
From the Amazon Pay section, select “Send Money” and choose “Bank Transfer.” Enter your bank details, including account number, IFSC code, and account holder’s name. Specify the amount to transfer from your Amazon Pay balance, then select “Pay Using Amazon Pay balance” as the payment method. Verify all details and confirm the transaction. The funds will typically reflect in your bank account within a few business days, depending on processing times.
What Are the Types of Transfers?
You can’t send gift card balances from one Amazon account to another. Similarly, other Amazon customers can’t send you their gift card balances. When redeeming gift cards on the Amazon website, you’ll find a warning that “your gift card balance cannot be transferred to other accounts or used to purchase other gift cards.” Prohibiting account-to-account gift card balance transfers is a security measure to prevent fraud, money laundering, and other illegal activities. However, alternative methods exist to transfer or convert Amazon gift cards to cash in your bank account:
- Gift Card to Cash Transfer (via Third-Party Platforms): Amazon doesn’t support transferring or converting gift cards to cash. However, you can convert unredeemed or unused gift cards to cash on third-party marketplaces. Platforms that provide this service sometimes charge a small fee.
- Transfer Gift Card to Subscription Payment: Customers in the United States and U.S. territories can pay for a Prime membership and Prime Video Channel subscription using their gift card balance. If you’re a new subscriber, adding a backup payment method (debit or credit card) grants you access to a free trial when signing up for Prime or Prime Video Channel. Customers paying for their subscription/membership using only their gift card balance won’t get a free trial.
Benefits of Selling Your Unused Amazon Gift Cards for Cash
- You can easily turn your unwanted Amazon gift card into usable cash that you can put towards anything you desire.
- You will get rid of those unused plastic cards cluttering your drawers.
Other Ways to Transfer an Amazon Gift Card Balance to a Bank Account
1. Buy & Resell Physical Products
If you’re comfortable with a little hustle, turning your Amazon gift card into cash through reselling can be a smart move, especially for balances above $100. You can start by using your gift card to purchase high-demand, easy-to-ship items like popular electronics, sealed video games, or even other retailer gift cards (e.g., Steam, Walmart). Avoid bulky or perishable goods that eat into profits with shipping costs. Once purchased, list these items on local marketplaces like Facebook Marketplace for quick cash sales, or opt for a global reach via eBay. Price competitively by checking what others are charging for the same item. When the sale is complete, transfer the earnings directly to your bank account.
2. Sell to Family or Friends
Another way to cash out your Amazon gift card is to offer your Amazon gift card to someone you know and trust. Almost everyone now shops on Amazon, so you might find a friend or family member willing to buy it. You can start by mentioning the card’s value and your desired price, typically 5-10% below face value, to incentivise a quick sale.
How to Sell Unredeemed Cards Online Safely
It’s easy to sell gift cards online, but it’s also easy to fall victim to scams. There are just as many shady trading marketplaces on the internet as there are legitimate ones, so research before choosing a platform or marketplace to sell your gift card. Look out for reputable platforms with genuine reviews and feedback, particularly on social media. Not all platforms with large social media followings are legitimate. So, check for customer reviews on social media sites and forums like Twitter, Reddit, Quora, Facebook, etc. If you’re trading your gift card on peer-to-peer exchanges, ensure the buyer is verified and has positive reviews. Marketplaces that offer an escrow payment system are safer and recommended.
Repurpose Your Amazon Gift Cards
Gift cards almost always come with fine print that reduces their usefulness. Amazon gift cards have no expiration date and are easily redeemable using the gift card code. However, they can only be used on the Amazon store or to pay for Amazon subscriptions in certain countries. Gift card balances in any Amazon account are not transferable. However, if you contact Amazon Customer Support, you may be able to transfer your balance to a different account. If you need to convert a gift card to cash in your bank account, use third-party marketplaces. Alternatively, purchase items on Amazon for friends or family members using your gift card and get cash from them in return.
Convert Your Amazon Gift Card to Cash on Xbanka
If you’d rather skip the Amazon Pay process entirely, there’s a faster route to sell your gift card for cash on Xbanka. Here’s how it works:
1. Get Started with Xbanka. Visit the company’s website at Xbanka. Make sure your internet connection is solid before you begin.
2. Sign Up or Sign In
New users need to register with an email, phone number, and a secure password. If you’ve used Xbanka before, just log in with your existing details.
Heads-up: This platform is built for folks in Nigeria or Ghana, so you’ll need a local bank account and ID.
3. Head to the Trading Area
After logging in, find the “Trade Gift Cards” option on the main screen of the app or website and tap it.
4. Pick Your Gift Card Type
Decide if you’re working with a Physical Card (something tangible you’re holding) or an E-code (a digital code).
Select the option that fits your situation.
5. Choose the Gift Card Brand
From the list, pick the company your gift card is from—like Amazon, Apple, or Steam.
The platform has a bunch of options, so scroll through to find yours. In this case, it is Amazon.
6. Narrow Down the Specific Type
Select the exact version of your card, such as “Amazon US” or “Amazon UK”, to match it perfectly with Cardtonic’s system.
7. Fill in the Details
Type in the card’s value (say, $25 or $100).
For physical cards, snap and upload clear photos of both sides.
For e-codes, pop the code into the comment box.
8. Check the Payout
The app will show you the going rate and how much cash you’ll get in Naira (Nigeria) or Cedis (Ghana).
You can peek at rates ahead of time using the platform’s built-in rate calculator if you’re curious.
9. Kick Off the Trade
Double-check everything, and when you’re happy with the amount, hit “Start Trade” to send it off.
10. Hang Tight for Approval
It usually takes just a few minutes for Xbanka to process your trade. You’ll get a heads-up when it’s done.
11. Collect Your Cash
Once it’s approved, the money lands in your Xbanka wallet.
Transfer it to your bank account in Nigeria or Ghana (or mobile money in Ghana) through the withdrawal feature.
Risks and considerations of transferring an Amazon gift card balance
While there are several ways to use or transfer Amazon gift card balances, it’s essential to understand the risks and limitations associated with these methods. Whether you’re selling a gift card, purchasing other gift cards, or transferring balances, the following considerations can help you avoid scams, unexpected losses, or issues.
1. Scams
One of the common risks of transferring an Amazon gift card is falling victim to scams. This is because many fraudulent gift card exchanges take advantage of the anonymity of these transactions and the difficulty of reversing these transactions to scam gullible users. The best way to not fall victim to such scams is to take your time to do your due diligence on the card exchange.
Read online reviews about them and avoid deals that are too good to be true.
2. Loss of value
Another risk of trading your Amazon gift cards on most card exchanges is that you do not receive the full value of your Amazon gift card. This is because these exchanges take out a certain percentage from the card’s value, which could be 5% or 10% as platform fees. So, if you intend to use card exchanges, endeavour to compare prices on various reliable and trusted platforms to get the best rate.
3. Account restrictions
Amazon is a very transparent e-commerce platform with active bots working 24/7 to ensure its security. So, when these bots notice any suspicious activities on their platform, it can lead to account suspensions or restrictions in extreme cases. Which means you may not be able to access your gift card balance.
So, avoid buying gift cards from unauthorised platforms or exchanges to avoid falling victim to this. I would advise you to always get your Amazon gift cards from Amazon and always adhere to Amazon’s gift card reselling policy.
4. Delays
When transferring your Amazon gift card balance to your bank account, there is a high probability of experiencing delays either from the Amazon gift card balance transfer or payments from card exchanges.
This can be caused by verification requirements or payment processing time, which takes between two to seven working days. To avoid these delays, ensure you complete your verification process promptly and only use card exchanges with fast payouts.
5. Hidden fees
Another risk you may encounter when transferring your Amazon gift card balance to your bank account is the risk of experiencing hidden fees on exchange platforms that reduce the final amount you were to receive. So, ensure you read through the lines and be sure that there are no hidden fees before trading your gift card on these exchanges.
Conclusion:
There you have it. You can easily transfer your Amazon gift card balance to your bank account using any of the methods mentioned in this guide. I encourage you to explore options that are best for you and stay vigilant on common risks like scams or hidden fees so your balance does not go to waste . We hope you enjoyed reading this piece and learned a thing or two. Till next time, bye for now!
FAQ
- Can an Amazon gift card be transferred to another account?
If someone else has access to the claim code on your physical gift card or the redemption link for an electronic gift card, it may have been redeemed on another account. Once redeemed, your Amazon.com Gift Card balance can’t be transferred between accounts or to an Amazon store in a different country.
- Can I transfer my Amazon gift card balance to another bank account?
Can You Transfer an Amazon Gift Card Balance Directly to a Bank Account? No, you can’t. Amazon doesn’t offer a built-in option to withdraw your gift card balance as cash or send it directly to your bank. Once that balance is loaded onto your Amazon account, it’s designed to stay there for purchases on their platform.
- Can you do a balance transfer with an Amazon card?
The Amazon Credit Card balance transfer fee is 4% (min $5). This card is not a good choice for balance transfers due to the combination of its balance transfer fee and relatively high balance transfer APR: 18.99% – 27.74% (V).
- Can I transfer my Amazon Pay balance to another Amazon account?
Fund transfers: A full KYC PPI User will also be able to use their Amazon Pay Wallet UPI ID for fund transfers to another Amazon Pay Wallet (PPI) holder or to a bank account using the below 2 options: Fund transfer via Send Money options: Select the “Send Money” icon on the Amazon Pay Dashboard.
- Can I convert an Amazon gift card to Amazon Pay?
Go to Amazon Vouchers under the Gift Cards & Vouchers Section on Amazon Pay. Note: Amazon Vouchers balance does not get reflected on the Amazon Pay balance. Amazon Pay Gift Card gets added to the Amazon Pay balance while Amazon Vouchers gets added to the Voucher Balance under Amazon Vouchers.