You got a few Amazon gifts from your friends and colleagues. Although you can use them to buy anything on Amazon, maybe you would rather cash out your Amazon gift card.
Unfortunately, Amazon doesn’t allow shoppers to exchange gift cards for cash. You can’t even use them to buy other gift cards (i.e., Starbucks, Visa, Apple) or service subscriptions.
As good as Amazon is, we didn't want to limit ourselves to Amazon purchases. Our team reviewed several resources and compiled the best workarounds to convert Amazon gift card balance into cash.
Stick with us until the end and don’t waste time and money figuring everything out yourself!
Can you transfer Amazon gift card balance to your bank account?
Amazon explicitly states on its Gift Card Terms and Conditions page that shoppers can’t redeem gift cards for cash. While you can’t transfer your Amazon gift card to your bank account directly, there are ways to cash out your gift card balance with third parties. Let's go through some of them now:
Visit card reseller sites
EJ Gift Cards is a website that will buy your Amazon gift card. It is a quick and convenient way to get cash for your card.
Let’s say you have a $100 gift card and want to convert it to cash, you can get at least $50 using this method. Here's what you need to do to turn your Amazon gift card into cash:
- Enter ‘Amazon' under ‘Card Merchant'.
- Enter your gift card's value under ‘Card Value $'.
- Click ‘Get my Instant Offer'.
- On the next page, EJ Gift Cards will show you how much you'll get for your card.
- If you accept the offer, click on ‘Accept & Continue'.
- On the next page, enter your card's details, such as the card number and PIN.
- Click on ‘Proceed Payment' to enter your payment details. You may be asked to register.
- Enter your PayPal email, and EJ Gift Cards will send your money there.
- Withdraw the PayPal funds to your bank account.
Note that you won't get the original amount on your card. But we still think it's a great option if you don't want the hassle of finding buyers or experimenting with workarounds.
Post on Reddit
You can find subreddits that are dedicated to gift card exchanges. You can convert an Amazon gift card to cash if you find an interested buyer and indicate that you want to be paid in cash.
- Go to the subreddits r/GCTrading and r/giftcardexchange.
- Review the moderators’ rules, then post a thread selling your Amazon gift cards.
- When deciding on an asking price, note that most sellers get around 80% of the value of their gift card balance. However, gift cards from Amazon often sell for 90%.
- Negotiate with interested buyers.
- Once you’ve sealed the deal, indicate your payment terms and send the gift card to your customer.
Buy digital gold
Instead of converting your Amazon egift cards, you can use them to buy digital gold and then sell your gold for cash.
- Launch the Amazon Pay app and open the Gold Vault tab.
- Input the amount you need to convert in the field under the Current Gold Price section.
- Agree to the terms and conditions, then hit the Proceed to Buy button.
- Wait for the app to finalize the process. You might have to input an OTP code or verify your identity.
- Go back to the Gold Vault tab and sell your digital gold.
- The funds should reflect in your linked bank account.
‼ Note: Remember that the Buy rate of gold, or any currency, will always be lower than its current Sell rate.
Sell to Friends
If you want to encash your Amazon gift card balance, you can also tell your friends and family that you have one. Try offering the card with a 10% to 20% discount, and they might take it off your hands right away. So if you have a $100 Amazon gift card, you can convert it into $80 to $90 cash instantly this way.
If you don’t want to sell the gift card itself, purchase something on Amazon first. For instance, buy some cheap body soap in bulk, then sell them to your friends on social media for a small profit.
This process will take a bit longer. However, you’ll get at least 100% of your gift card’s value if you buy the right products and sell them with a fair markup.
However, you can bypass this limitation using Amazon Pay.
The Supposed Amazon Pay Balance Workaround
We've seen this workaround on a few sites. Try as we might, though, we weren't able to replicate this (at least not in the US). If you're desperate enough to try it, though, here are the steps:
1. Add your Amazon gift card to your Amazon Pay balance
- Launch the Amazon app and tap the three-line menu icon at the bottom-right corner of the screen.
- The app should prompt you to the Your Account page.
- Scroll to the Amazon Pay section and look for the Add a Gift Card section.
- Enter the serial number, tap Add to Your Balance button, then wait for the page to finish loading. The gift card’s amount should reflect in your Pay balance in real-time.
2. Move the Amazon Pay balance to an eligible bank account
- Head to the Amazon Pay website.
- Hover your mouse over the Shop with Amazon Pay tab and hit the For Shoppers button.
- Sign in to your account.
- Next, scroll to the Balance section and tap the Withdraw Funds button.
- Choose an eligible bank account.
- Input the amount you need to transfer.
- Finalize the process by pressing the Continue button, then wait for the page to finish loading.
How long does it take for the balance to reflect?
It should take three to five business days for the funds to reflect in your account. You can contact Amazon if the money doesn’t reach your wallet, but avoid mentioning you’re trying to get cash from your Amazon gift card.
How to get free Amazon gift cards
Did you successfully redeem your Amazon gift cards for cash without spending much on fees? Congratulations!
Note that you can repeat the process as many times as you want, so you might want to maximize the opportunities to get free Amazon gift cards, such as:
- Amazon Trade-Ins: The Amazon Trade-In program lets users earn Amazon gift cards for trading in old, unused items, like electronic devices, video games, and consoles. Read their Terms and Conditions page to understand what you can and can’t send.
- Survey Websites: Apps like Swagbucks and Survey Junkie give users Amazon gift cards for answering the surveys and accomplishing tasks on their platform. They also pay in cash. However, you might get a bit more by selecting Amazon gift cards as your payout option.
- Shopping Reward Apps: Shopkick, Ibotta, and Drop give users small rebates for scanning eligible shopping receipts. You can cash out your rewards in the form of Amazon gift cards.
Types of Amazon gift cards
Amazon typically offers its gift cards in three forms:
- eGift Cards: You can customize your eGift cards to include a special message like “Happy Mother’s Day” or “Merry Christmas.” Amazon often sends these by phone or email. These cards are perfect for gifting long-distance friends and relatives.
- Physical Gift Cards: You’ll find physical Amazon gift cards near the checkout lanes of big-box stores, convenience stores, and gas stations. They make excellent last-minute gift ideas.
Print-at-Home Gift Cards: If you want to give a physical gift card with a customized design, opt for print-at-home gift cards.
Should you cash out your Amazon gift cards?
Don’t automatically convert your Amazon gift card to cash. Amazon sells more than 12 million products, from branded retail products to generic fast-paced consumer goods. You’ll likely find what you need online.
For this reason, reassess why you need to cash out your Amazon gift card. Again, all the workarounds we mentioned above either take time or cost money, so you’ll get the most out of your gift card by using it for its intended purpose.If you need cold hard cash, proceed with one of the listed methods. However, if you need the money to buy groceries, prescription drugs, vitamins, or baby products, among other available items on Amazon, opt to pay with your gift card.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
