You may find yourself in a situation where you have depleted your resources and are left wondering if the cash loaded on your Vanilla Visa gift card can help alleviate your financial struggles. Thoughts may cross your mind on how the limited amount of funds available on the prepaid card can contribute towards covering some of your expenses.
If you’re wondering whether a Vanilla Visa gift card comes with the same cash withdrawal restrictions as a MasterCard or Visa gift card, the answer is yes. You cannot directly withdraw cash from a Vanilla Visa gift card. However, there are other options available that you can consider to make the most of your gift card. Take a look at the alternatives listed below and choose the one that works best for you.
1. Add Your Card to PayPal
Logical Dollar suggests that you can easily get cash off your card by transferring the money to your PayPal account. The process is simple and only requires you to have a registered gift card and a PayPal account in your name. To transfer the money, you need to visit your PayPal account and navigate to the “PayPal Wallet” section. From there, click on “link a debit or credit card” to proceed.
To link your card, you have two options: manual linking or through the bank. If you choose to link it manually, simply select “Link a card manually” and fill in the gift card details. Once you have entered the necessary information, click on “link card” to complete the process.
If you run into an error code while trying to add a gift card to your PayPal account, don’t worry. Simply register the gift card with the issuer to resolve the issue. Most gift cards come with registration instructions, which will provide you with an address that you can link to your PayPal account for acceptance.
2. Sell Your Card on Apps and Websites
MoneyTamer suggests that the simplest way to get your money back from a gift card is to sell it. Although linking it to PayPal is an option, you’ll need to take an additional step and transfer the balance to your bank account. By selling the card, however, you’ll receive cash right away.
The sum you can extract from your Vanilla Visa card varies according to the seller. On eBay, a fixed fee of 10% of the sales price is charged, while Raise applies a fixed fee of 15% of the sales price.
If you find yourself in urgent need of cash, a 15% commission for selling a gift card can be excessively high. Fortunately, there are alternative options available that offer up to 90% cashback without any fees. Websites like GiftcardOutlets and EJGiftCards provide this service, and all you need to do is visit their website, select your preferred vendor, and enter the gift card details, such as the merchant name and current value. This way, you can get the cash you need without losing a significant portion of the gift card’s value.
Once you’ve inputted your gift card details, the website will promptly display the cash offer for your gift card. If you’re satisfied with the offer, you can proceed to submit it. It’s worth noting that the process of trading digital gift cards is much simpler than that of physical ones.
When it comes to gift cards, there are two types – digital and physical. While a digital gift card can be easily obtained by providing the necessary details, a physical card needs to be mailed. It’s important to note that some websites cover the postage fees for physical gift cards, but others do not. So, it’s essential to do the math and choose wisely to avoid overspending on postage fees while trying to cash in on your gift card.
3. Sell Your Card to Friends and Family
Instead of going through the hassle of sending your card through the mail and hoping to receive some cash in return, consider selling it to someone you know.
If your loved ones are on the lookout for a gift card, you’ll need to provide them with a compelling reason to buy it from you. Keep in mind that they can easily purchase the gift card from a vendor, so you’ll need to offer a discounted price to entice them to choose you over others.
Although you may not receive the full face value of a gift card, it’s still preferable to letting it sit unused until you can find something to purchase with it. However, according to Bible Money Matters, the amount you can receive for your card is determined by its popularity and demand.
4. Buying and Reselling Items Off Your Gift Card
To successfully utilize this approach, it’s vital to possess an entrepreneurial mindset. Your focus should be on scouring for discounted products that can guarantee a profitable resale.
If you’re looking to sell gift cards, it’s worth considering the items that are in high demand. This way, you can potentially receive more money than you would through selling to friends or using apps. However, it’s important to note that this method can be inconvenient.
To get the best price for your item, it’s important to wait for the right moment to sell it. Additionally, it’s crucial to conduct thorough research beforehand to determine which items are likely to fetch a higher price.
Why Vanilla Gift Cards are Popular?
VanillaGift.com introduced an improved customer experience in December 2020, as reported by Finextra. The website now offers personalized gift options and has integrated its cards with select mobile wallets.
According to the article, customers were given the choice of purchasing either traditional gift cards or digital ones, which they could personalize with various colors and stamps. Additionally, businesses were able to upload their logos and photos to further customize the cards. These updates arrived at a convenient moment, as the COVID-19 pandemic has heightened the demand for contactless payment options.
Mobile wallets have become a popular choice among consumers, and the gift card market has capitalized on this trend. One such example is Vanilla Visa gift cards, which are open-loop and can be used at any establishment that accepts Visa cards, whether it be online or in physical retail stores. What’s more, these gift cards can be loaded with as little as $10, making them a convenient option for shoppers on-the-go.
One major inconvenience of using prepaid gift cards is the need to frequently check your balance. Unlike debit cards, which allow cashiers to easily find out your remaining balance, prepaid gift cards do not offer this convenience. Therefore, it is important for you to proactively check your balance prior to making any transactions to avoid the risk of failed payments.
Also Read:
- A Quick Guide to Activate Your Credit One Card in Few Minutes
- Factors in Which a Best Buy Credit Card Could Hurt Your Credit
- A Guide On 10 Benefits of Having a Menards Credit Card
