Have you ever found yourself in a situation where you have an American Express card – be it a credit card, gift card, prepaid card, or even a traveler's cheque – and you desperately need actual cash? It's a common dilemma! While Amex cards are incredibly versatile for purchases, converting them into physical currency isn't always as straightforward as with a traditional debit card. But fear not, because this comprehensive guide will walk you through every possible scenario for how to cash American Express, providing you with the knowledge and steps to get your hands on that much-needed money.
Let's dive right in and explore the various avenues available to you!
How to Cash American Express: Your Step-by-Step Guide
The method you'll use depends entirely on the type of American Express product you possess. We'll cover the most common scenarios.
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| How To Cash American Express |
Step 1: Identify Your American Express Product
Before you do anything else, it's crucial to know exactly what kind of American Express product you have. Is it a credit card, a gift card, a prepaid card, a Serve or Bluebird account, or even an old-school traveler's cheque? Each has its own distinct method for cash access, and understanding this will save you a lot of time and effort.
Credit Card: This is your standard American Express credit card, used for making purchases and building credit.
Gift Card: A prepaid card with a specific value, often given as a present.
Prepaid Card (e.g., American Express Serve, Bluebird): These are reloadable prepaid debit accounts that you load funds onto.
Traveler's Cheque: A physical, pre-printed cheque that used to be a popular alternative to carrying cash when traveling. While less common now, some people still have them.
Membership Rewards Points: While not a card, some users might be looking to convert their accumulated Amex points into cash or cash-like value.
Once you've identified your product, proceed to the relevant section below.
Step 2: Cashing Your American Express Credit Card (Cash Advance)
Cashing out your American Express credit card primarily involves taking a cash advance. While it's a quick way to get cash, it's generally not recommended as a first resort due to the associated costs.
Sub-Step 2.1: Understand the Costs Involved
Cash Advance Fees: American Express typically charges a fee for cash advances. This is often a percentage of the advance amount (e.g., 3% to 5%), with a minimum dollar amount (e.g., $5 or $10). Always check your specific card's terms and conditions for the exact fee structure.
Immediate Interest Accrual: Unlike regular purchases where you often have a grace period before interest kicks in, interest on cash advances starts accruing immediately from the moment you withdraw the cash. The interest rate for cash advances is also often higher than for purchases.
ATM Operator Fees: The ATM owner may also charge their own fee, in addition to American Express's fee.
Sub-Step 2.2: Set Up Your PIN
If you don't have a PIN: You'll need a Personal Identification Number (PIN) to withdraw cash from an ATM. You can usually request a PIN by logging into your American Express online account or by calling customer service. This process might take a few days for the PIN to be mailed to you.
If you forgot your PIN: You can usually reset it online or by contacting customer service.
Sub-Step 2.3: Find a Participating ATM
American Express credit cards can be used at ATMs that accept American Express. Look for the American Express logo on the ATM. Many ATMs that accept Visa or Mastercard also accept American Express.
Use the Amex ATM locator tool on their website or app to find a nearby participating ATM.
Sub-Step 2.4: Withdraw Cash
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Insert your American Express credit card.
Enter your PIN.
Select "Withdrawal" or "Cash Advance." The ATM might specifically label it as "cash advance" when using a credit card.
Choose "Credit" if the ATM asks you to select between checking, credit, or debit.
Enter the amount you wish to withdraw, keeping in mind your cash advance limit (which is usually lower than your credit limit).
Confirm the transaction.
Take your cash, card, and receipt.
Step 3: Cashing Your American Express Gift Card
American Express gift cards are designed for spending, not typically for cash withdrawals. However, there are a few creative ways to convert them to cash or cash equivalents.
Sub-Step 3.1: Sell Your Gift Card
Online Gift Card Marketplaces: Websites like Prestmit, Cardtonic, or Raise allow you to sell unwanted gift cards. You'll typically receive less than the card's face value (e.g., 85-95% of the value), but it's a reliable way to get cash.
Process: Register an account, list your Amex gift card with its value, and set your desired selling price. Once sold, the platform will facilitate the transfer of funds to your bank account or chosen payout method.
Social Media/Local Marketplaces: You can also try selling your gift card on platforms like Facebook Marketplace or Craigslist, but exercise caution as these methods carry higher risks of fraud. Meet in a safe, public place for in-person transactions.
Sub-Step 3.2: Purchase Items for Reimbursement
Offer to buy something for a friend, family member, or even a stranger (if you trust them) using your Amex gift card, and have them pay you back in cash. This works well for larger purchases where you know someone needs an item.
Example: Your friend needs a new appliance. You offer to buy it with your gift card, and they give you the cash.
Sub-Step 3.3: Retail Arbitrage
This method involves buying in-demand items on sale with your Amex gift card and then reselling them for cash on platforms like eBay, Facebook Marketplace, or other online selling sites.
This requires a bit of market research and patience but can potentially yield the full value of your card or even a small profit.
Sub-Step 3.4: Purchase a Money Order
Some places, like Walmart or certain grocery stores, may allow you to purchase a money order using a gift card (though this can be hit or miss and might depend on whether the gift card has a PIN).
If successful, you can then cash the money order at a bank or post office. Be aware of any fees associated with purchasing or cashing money orders.
Sub-Step 3.5: Request a Refund (Limited Circumstances)
If you purchased the American Express gift card directly and have the original receipt, you might be able to request a refund from American Express, especially if you bought it without intending to use it or if there's a low balance.
Contact American Express Gift Card customer service (usually a number on the back of the card or on the Amex website) to inquire about their refund policy. Specific terms and conditions will apply.
In some states, businesses are legally required to cash out gift cards with very low balances (e.g., under $5 or $10). Check your state's regulations.
Sub-Step 3.6: Add to a Digital Wallet (Indirect Method)
Some digital wallets (like PayPal) allow you to add certain prepaid cards, including American Express gift cards.
Once added, you might be able to transfer the balance from your digital wallet to your linked bank account. This acts as an indirect way to cash out the gift card. Note that fees may apply for such transfers.
Step 4: Cashing Your American Express Prepaid Card (Serve or Bluebird)
American Express prepaid cards like Serve and Bluebird offer more direct cash access than gift cards, as they are designed as reloadable accounts.
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Sub-Step 4.1: ATM Withdrawals
Locate a MoneyPass ATM: Both American Express Serve and Bluebird accounts offer free ATM withdrawals at over 40,000 MoneyPass® ATMs nationwide in the U.S. This is generally the most cost-effective way to get cash.
Non-MoneyPass ATMs: You can also withdraw cash at other ATMs that accept American Express cards, but these will likely incur a fee from American Express (e.g., up to $2.50) and a fee from the ATM operator.
PIN Required: Ensure you have a PIN set up for your Serve or Bluebird card. You can usually do this online through your account portal.
Withdrawal Limits: Be aware that daily ATM withdrawal limits apply. Check your specific Serve or Bluebird account terms for these limits.
Sub-Step 4.2: Cash Back at Point-of-Sale (POS)
Many grocery stores, drugstores, and other retailers offer a "cash back" option when you make a purchase with your debit or prepaid card.
When checking out, swipe your Serve or Bluebird card, enter your PIN, and ask for cash back. This typically avoids ATM fees but may be limited to smaller amounts.
Sub-Step 4.3: Transfer to Linked Bank Account
Since Serve and Bluebird are accounts, you can usually link them to your external bank account.
Once linked, you can initiate a transfer from your Serve or Bluebird account to your bank account.
Transfers may take a few business days to process. Check for any transfer fees, though often standard transfers are free.
Step 5: Cashing American Express Traveler's Cheques
While less common these days, if you have American Express Traveler's Cheques, cashing them is still possible.
Sub-Step 5.1: Present to a Bank or Acceptor
Banks: The most reliable place to cash American Express Traveler's Cheques is at a bank. Many banks will cash them, especially if you have an account with them.
American Express Travel Service Locations: In some areas, American Express Travel Service locations may still exist and can cash traveler's cheques.
Other Acceptors: Historically, some hotels, shops, and restaurants would accept traveler's cheques like cash, but this is much rarer now. It's best to call ahead if you plan to use this method.
Sub-Step 5.2: Sign and Present Identification
Countersign: When cashing the cheque, you will need to sign the cheque in the designated spot (usually the lower left-hand corner) in front of the acceptor. This signature should match the signature you placed on the cheque when you originally purchased it (usually in the upper left-hand corner).
Provide ID: You will almost certainly be required to present a valid form of photo identification (e.g., passport, driver's license) to verify your identity.
Sub-Step 5.3: Be Aware of Potential Fees
While American Express often states there's no fee when using traveler's cheques to pay for goods and services, some banks or establishments (especially outside the U.S.) might charge a fee for cashing them.
It's always a good idea to ask about any fees beforehand.
Step 6: Converting American Express Membership Rewards Points to Cash (Indirectly)
American Express Membership Rewards points are a loyalty currency, not cash. You cannot directly convert them to physical cash. However, you can redeem them for options that provide a cash-like value.
Sub-Step 6.1: Statement Credit
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You can often redeem Membership Rewards points for a statement credit on your American Express account. This effectively reduces your outstanding balance, freeing up cash you would have otherwise used to pay your bill.
Redemption Value: The value per point for statement credit is typically lower than other redemption options (e.g., 0.6 cents per point).
Sub-Step 6.2: Gift Cards
While not cash, you can redeem your points for gift cards to various retailers. You can then use these gift cards for your purchases, indirectly saving cash, or potentially sell these gift cards (as described in Step 3.1).
Redemption Value: This can vary, but some gift cards offer a better value per point than statement credits.
Sub-Step 6.3: Pay with Points at Checkout
American Express offers "Pay with Points" options at certain online retailers (e.g., Amazon.com). This allows you to use your points to cover purchases, again, saving you cash.
Redemption Value: Similar to statement credit, the value for "Pay with Points" is often lower.
Sub-Step 6.4: Sell Points to a Miles Broker (Use with Caution)
There are third-party miles brokers who will buy your American Express Membership Rewards points for cash.
This method is generally not endorsed by American Express and may violate their terms and conditions, potentially leading to account closure. If you choose this route, proceed with extreme caution and research brokers thoroughly. The value you receive will depend on market demand.
Important Considerations for All Methods
Fees: Always be aware of any fees associated with cash withdrawals or conversions. These can significantly reduce the amount of cash you receive.
Limits: Most American Express products have daily or transaction limits for cash withdrawals.
Security: When dealing with cash, always prioritize your safety. Be discreet at ATMs, and if selling gift cards, ensure you're using reputable platforms or meeting in safe, public locations.
Terms and Conditions: For any American Express product, familiarize yourself with its specific terms and conditions regarding cash access, fees, and limits.
10 Related FAQ Questions
How to get cash from an American Express credit card without a PIN?
You generally cannot get cash directly from an ATM without a PIN. You would need to request a PIN from American Express, which can take a few days to arrive by mail. Alternatively, you could look into services that allow you to send money to yourself using your credit card (which would be treated as a cash advance) or consider other alternatives like borrowing from friends/family.
How to avoid cash advance fees on an American Express credit card?
The best way to avoid cash advance fees is to not take a cash advance. Instead, consider alternatives like using a debit card, borrowing from friends or family, or exploring personal loans if you need cash. If you must take an advance, repay it immediately to minimize interest.
How to cash an American Express gift card with a low balance?
For low balances (e.g., under $5 or $10), check if your state has laws requiring merchants to cash out gift cards. Otherwise, consider adding the gift card to a digital wallet like PayPal and then transferring the small balance to your bank account, or simply use it for a small purchase to deplete the balance.
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How to check the balance of an American Express gift card?
You can usually check the balance of an American Express gift card by visiting the American Express gift card website (often listed on the back of the card), or by calling the customer service number provided on the card.
How to transfer money from American Express Serve to a bank account?
Log in to your American Express Serve online account, navigate to the "Transfers" or "Add/Withdraw Funds" section, and select the option to transfer funds to a linked bank account. You'll need to have your bank account details (routing and account number) linked beforehand.
How to find a fee-free ATM for American Express Serve or Bluebird?
Both American Express Serve and Bluebird offer free ATM withdrawals at MoneyPass® ATMs. You can find MoneyPass® ATM locations using the ATM locator tool on the official American Express Serve or Bluebird websites, or the MoneyPass website itself.
How to replace a lost or stolen American Express Traveler's Cheque?
If your American Express Traveler's Cheques are lost or stolen, contact American Express Traveler's Cheque Customer Service immediately. You will need the serial numbers of your cheques (which you should keep separate from the cheques themselves) to facilitate reimbursement.
How to get cash from American Express Membership Rewards points directly?
You cannot directly get physical cash from American Express Membership Rewards points. The closest you can get is redeeming them for a statement credit, which reduces your credit card balance, or for gift cards which can then be used for purchases. Selling points to a third-party broker is an option but carries risks and is not sanctioned by Amex.
How to increase my American Express cash advance limit?
Your cash advance limit is typically a portion of your overall credit limit and is set by American Express based on your creditworthiness and account history. You generally cannot directly request an increase to your cash advance limit, but maintaining a good payment history and responsible use of your credit card may lead to overall credit limit increases over time.
How to use an American Express prepaid card for online purchases?
To use your American Express prepaid card for online purchases, simply enter the card number, expiration date, and security code (CVV) as you would with any other credit or debit card during checkout. Ensure the billing address matches the one associated with your prepaid card account.
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