Thread: Digital Prepaid Cards to Cash

I found a way to do this. We tested it, and it worked. Small fee.

You need a Paypal account (not sure if it works on Venmo), and a good friend or family member with a Paypal account. (It's against Paypal rules to send money to yourself, so don't create a 2nd account to do this.)

Link the digital card to your Paypal account.

Send the money to the other person (use friends/family) -- there is a fixed fee for sending money from a card (mine is 2.9%). Once they told me how much the fee was I went back and subtracted it from the amount I was sending so it would use up the whole balance. (I was working with a leftover card with a $1.55 balance!)

Once the other person gets it, they can turn around and send it back to you. There is no charge for them because they are using their cash/bank account, not a card.

I didn't see anything in their agreement that mentioned anything like this being prohibited. But you're welcome to read it before you use this on a larger amount.


Kathy

Good idea. Thanks for posting. I don't like those digital cards at all. They never work for me.

Originally Posted by 3lilpigs

Good idea. Thanks for posting. I don't like those digital cards at all. They never work for me.

I don't like them either. I have used them online at Ebay, Walmart and Shutterfly with no problem, but then I'm always stuck with the little leftover on the card (like the $1.55 above) that's never good for anything because they won't accept them as partial payments.

The fee structure said it was 2.9%, but with the $1.55 it ended up being 2.19% -- either way, on $50 it would end up being a couple bucks. I'd rather have the cash than using it online.

I'm also going to check out a charity site that says they accept these cards. I'm not sure they meant the little leftover ones, but I'll look at it. I'll post it if it is legit.

Kathy

Originally Posted by colleenmf

Can you use the original cards to by gift certificates. I redeem at Mypoints for the digital Mastercard and then buy an Amazon gift card. It is fewer points than redeeming for an Amazon card. $10 Mastercard is 1500 points. and $10 Amazon is 1580 points. I don't know about $1.55 but I know you can get Amazon cards for $5.

Of if the original card is at least $25, you can maybe buy a giftcard thru mypoints and earn points for buying the card.

I'm more or less trying to get cash from these digital prepaid cards (like adding it to Paypal balance, or bank account) so there are no expiration dates or limitations on spending at a specific site or losing money.

The last time I tried to purchase an Amazon card with the digital prepaid card (through Amazon) I was told I couldn't do that. I had to load the prepaid card as a separate debit card on their site. I ended up losing $1.49 on that one because I couldn't split a purchase between two cards. Same with Walmart -- I could combine two Walmart cards, but not a debit and a Walmart card.

Where are you purchasing the Amazon cards? Through MyPoints "My Gift Cards"? I've never used them, but if it works, I'd definitely give it a try if I want a gift card.

Kathy

If you haven't done that lately, don't be surprised if it doesn't work. That's what my friend was doing, and they stopped accepting it.

Kathy

This must be a hot topic these days. Today I picked up a May-June copy of Consumer Report Magazine at the library. Their suggestions for getting rid of leftover cards:

Store branded cards can be used for partial payment in store or on website.

Go to the physical store and ask the merchant to give you cash. Some states require retailers to give consumers cash on request (in person) if the card falls below a certain value (i.e. in Colorado you can request cash if the balance is less than $5) Learn about gift card laws in your state at classaction.org/gift-card-laws No law? Ask the store anyway. Worst case they say no.

Spend the remainder at a partner store. Gap cards can be used at Gap Factory, Banana Republic, Banana Republic Factory, Old Navy or Athleta. Check websites for sister brands -- Potterybarn.com lists West Elm and Williams Sonoma.

Reload the card -- re-gift it.

Donate it. They recommend GiftCards4Change.com for the leftover Visa, Mastercard or Amex or even store-branded gift cards.

I have not personally looked into any of this -- just copied it from the article.

Kathy