Having an American Express (Amex) gift card can be incredibly convenient for purchases, but what if you genuinely need the cash instead? Unlike a regular credit or debit card, Amex gift cards are generally not designed for direct cash withdrawals or cash advances. However, there are several clever ways to effectively "cash out" your Amex gift card, allowing you to access the funds in a more liquid form. This lengthy guide will walk you through various methods, from straightforward options to more creative solutions, ensuring you can make the most of your gift card.
Let's dive in!
Step 1: Understand the Nature of Your Amex Gift Card
Before exploring cash-out options, it's crucial to understand what an Amex gift card is and, more importantly, what it isn't.
 |
| How Can I Cash Out An American Express Gift Card |
1.1. Not a Debit or Credit Card
An Amex gift card is a prepaid card with a fixed value. It's not linked to a bank account like a debit card, nor does it offer a line of credit like a credit card. This means you generally cannot use it for direct ATM withdrawals or cash advances, which are common features of traditional bank cards. American Express explicitly states that gift cards cannot be used for cash equivalents or at ATMs.
1.2. The "No Cash Redemption" Clause
Most Amex gift card terms and conditions state that the card is "not redeemable for cash." This is a standard clause for gift cards to prevent money laundering and to ensure they are used for their intended purpose: spending at merchants. However, this doesn't mean you're entirely out of luck. It just means you have to get a little creative!
1.3. Check Your Balance
Before you do anything, make sure you know the exact balance on your Amex gift card. You can usually do this by visiting the Amex gift card website (amexgiftcard.com) or calling the customer service number on the back of the card. Knowing the precise amount will help you plan your cash-out strategy.
Step 2: The Direct & Indirect Spending Methods
These methods don't directly give you cash, but they free up your own cash by using the gift card for expenses you would have paid for anyway. It's essentially a form of "cashing out" by not spending your own money.
2.1. Use It for Everyday Expenses
This is the simplest and most straightforward approach. Use your Amex gift card to pay for your regular expenses, such as:
-
Groceries: Most supermarkets readily accept Amex gift cards.
-
Gas: Fill up your tank at gas stations.
-
Bills: Some utility providers, phone companies, or subscription services may allow you to pay with a prepaid card online. However, note that Amex gift cards generally cannot be used for recurring billing payments. Always check with the specific merchant first.
-
Dining Out: Use it at restaurants and cafes.
-
Online Shopping: Many online retailers accept Amex gift cards.
By using the gift card for these purchases, you effectively keep the equivalent amount of cash in your bank account that you would have otherwise spent.
QuickTip: A quick skim can reveal the main idea fast.
2.2. Purchase Items for Others and Get Reimbursed
This method requires a bit of coordination but can be very effective.
-
Offer to buy something for a friend or family member. If someone you know is planning a purchase (e.g., a new appliance, clothes, electronics), offer to buy it for them using your Amex gift card.
-
They pay you back in cash. Once you make the purchase, they can then give you the cash equivalent. This is a win-win, as they get their item, and you get your cash. Ensure it's someone you trust implicitly.
Step 3: Leveraging Other Gift Cards and Money Orders
These methods involve converting your Amex gift card into a more liquid form, often with small fees.
3.1. Buy Other Gift Cards (with caution)
This is a popular, albeit sometimes tricky, method. The idea is to use your Amex gift card to buy a different type of gift card that is more easily convertible to cash or is more widely accepted for specific purposes.
-
Visa/Mastercard Gift Cards: Some retailers (like Walmart) might allow you to purchase a Visa or Mastercard debit-enabled gift card with your Amex gift card. These often come with a PIN and are much closer to a debit card, making them easier to use at more places or potentially for money orders.
-
Important Note: Not all stores allow this, and some cashiers may be unfamiliar with the process or have policies against it. You might need to try a few different locations. Look for cards that explicitly state they have a PIN or can be used as debit.
-
-
Money Orders (via other gift cards): Once you have a debit-enabled Visa/Mastercard gift card with a PIN, you might be able to use it to purchase a money order at a post office, Walmart, or other participating locations. You can then cash the money order at a bank.
-
Be aware of fees: There will likely be small fees for purchasing the Visa/Mastercard gift card and for the money order. This method is often described as "Amex GC > Visa/MC GC > Money Order > Cash."
-
3.2. Purchase a Money Order Directly (Limited Success) ✉️
Some individuals have reported success in buying money orders directly with their Amex gift cards, but this is highly dependent on the location and the person processing the transaction. Many places that issue money orders require a debit card with a PIN or cash. Since Amex gift cards typically don't have a PIN for debit transactions, this method can be hit or miss. It's generally safer to go the route of buying a debit-enabled Visa/Mastercard gift card first.
Step 4: Selling Your Amex Gift Card
If you need physical cash quickly and don't want to deal with indirect spending, selling your gift card is a viable option. However, you will likely sell it for less than its face value.
4.1. Online Gift Card Marketplaces
Several reputable online platforms specialize in buying and selling gift cards.
-
How it works: You list your Amex gift card on the platform, usually at a discounted rate (e.g., a $100 gift card for $90). Once a buyer purchases it, the platform facilitates the transfer and pays you the agreed-upon amount, typically via PayPal or direct deposit.
-
Popular platforms include:
-
CardCash: One of the largest marketplaces for buying and selling gift cards.
-
Raise: Another well-known platform for discounted gift cards.
-
Prestmit/Nosh (for specific regions): Platforms like Prestmit and Nosh are popular in regions like Nigeria for converting gift cards to cash, often instantly.
-
Things to consider:
-
Discount: Expect to sell your card for 80-95% of its face value, depending on demand and the platform's policies.
-
Processing time: Payouts can take a few days, depending on the platform and your chosen payment method.
-
Verification: You may need to verify the card's balance and authenticity.
-
-
4.2. Sell to Friends or Family
QuickTip: Slow down if the pace feels too fast.
This is often the quickest way to get close to the full value.
-
Offer it to someone you know at a slight discount (e.g., $95 for a $100 card) to make it appealing. This way, they save a bit, and you get cash without platform fees.
-
Ensure trust: Only do this with people you trust completely to avoid any disputes.
4.3. Local Gift Card Kiosks (Limited)
Some supermarkets or shopping malls have automated kiosks that allow you to sell gift cards for cash instantly.
-
Lower Payout: These kiosks typically offer a much lower percentage of the card's value (e.g., 60-70%) due to their convenience and immediate payout.
-
Limited Availability: Not all areas have these kiosks, and their acceptance of Amex gift cards may vary.
Step 5: Handling Low Balances & Refunds ⚖️
Sometimes, you might be left with a small, unusable balance on your gift card. There are specific rules for these situations.
 |
5.1. Utilizing Low Balances
In some U.S. states, there are laws requiring merchants to cash out gift cards with very low balances (e.g., under $5 or $10).
-
Check state laws: Research if your state has such a "cash out" law for gift cards.
-
Visit the merchant: If your card has a low balance, try to use it for a small purchase or ask the merchant if they can cash out the remaining small amount. This is typically for store-specific gift cards, but some general-purpose cards might fall under these rules in specific states.
5.2. Requesting a Refund from American Express
If you were the original purchaser of the Amex gift card and have the receipt, you might be able to request a refund from American Express.
-
Terms and Conditions: Review the terms and conditions that came with your specific gift card for refund policies. Generally, refunds are only offered under specific circumstances, such as a faulty card or within a very short period after purchase.
-
Contact Customer Service: Call the Amex Gift Card customer service number (usually found on the back of the card or on amexgiftcard.com) to inquire about a refund. Be prepared to provide proof of purchase.
Step 6: Important Considerations and Warnings ⚠️
While there are ways to cash out, it's vital to proceed with caution.
6.1. Beware of Scams
The internet is rife with scams.
-
Legitimate Platforms Only: If selling online, stick to reputable gift card exchange websites with good reviews. Avoid direct transactions with unknown individuals online.
-
No Upfront Fees (for selling): Legitimate platforms typically don't ask for upfront fees to sell your card. They take a commission after the sale.
Tip: Reflect on what you just read.
6.2. Fees and Discounts
Almost every method of cashing out an Amex gift card will involve some form of loss, whether it's a direct fee, a discounted selling price, or the inconvenience of indirect spending.
-
Factor in the cost: Decide how much of the original value you're willing to lose to get the cash.
6.3. Keep Records
-
Transaction Details: Always keep records of your gift card number, security code, and initial balance.
-
Receipts: If you're attempting a refund, the original purchase receipt is crucial.
Step 7: Digital Wallets and P2P Transfers (Limited but Evolving)
This is a newer and rapidly evolving area, with possibilities that depend on the specific digital wallet and the type of Amex gift card.
7.1. Adding to Mobile Wallets
-
Apple Pay, Google Pay, Samsung Pay: Some Amex gift cards, particularly newer ones, might be addable to mobile wallets for contactless in-store payments. While this doesn't directly give you cash, it makes the card much easier to use for purchases, freeing up your cash.
-
PayPal/Venmo (Indirect Method): This is a creative workaround, but not always reliable or straightforward for gift cards.
-
Some users have reported success adding an Amex gift card as a payment method to PayPal or Venmo.
-
The "cash out" part: You might be able to send money to a trusted friend or another one of your accounts using the gift card through PayPal/Venmo, and then have that money transferred to your bank account.
-
Crucial Considerations:
-
Fees: PayPal/Venmo might charge fees for certain transactions, especially if you're sending money as a "goods and services" payment.
-
Source of Funds: These platforms often have policies regarding the source of funds for peer-to-peer transfers, and gift cards might be flagged or restricted.
-
PIN Requirement: Many P2P platforms require a PIN for prepaid card transactions, which Amex gift cards often lack for debit-like functionality.
-
-
This method is not officially supported by Amex for cashing out and may be subject to platform-specific rules and potential flags for suspicious activity. Use with extreme caution and only if you fully understand the risks.
10 Related FAQ Questions
How to check the balance of an American Express gift card?
You can check your Amex gift card balance by visiting the official Amex gift card website (usually amexgiftcard.com) and entering your card details, or by calling the customer service number located on the back of your gift card.
How to use an American Express gift card online?
To use an Amex gift card online, simply enter the card number, expiration date, and the 4-digit CID (Card Identification) number (usually on the front) in the credit/debit card fields at checkout. If a billing address is required, use the billing address associated with the card (often the address used for purchase, or a default one provided by Amex).
How to avoid fees when cashing out an Amex gift card?
QuickTip: Pause before scrolling further.
Avoiding fees entirely is difficult. The best way is to use the gift card for your regular expenses, effectively freeing up your own cash. Selling it on a marketplace or using it for a money order will likely incur small fees or a discount from face value.
How to buy a money order with an American Express gift card?
Directly buying a money order with an Amex gift card is often not possible as they typically lack a PIN for debit transactions. A common workaround is to first purchase a Visa or Mastercard debit-enabled gift card (with a PIN) using your Amex gift card, and then use that Visa/Mastercard gift card to buy the money order.
How to sell an Amex gift card for the highest value?
To get the highest value, try selling it directly to a friend or family member at a small discount. If that's not an option, use reputable online gift card marketplaces like CardCash or Raise, but be prepared to sell it for 80-95% of its face value.
How to get a refund for an unused American Express gift card?
Refunds for Amex gift cards are generally only available if you were the original purchaser and meet specific conditions outlined in the cardholder agreement. You'll need to contact Amex Gift Card customer service with proof of purchase to inquire about a refund.
How to use a low balance on an Amex gift card?
For low balances, use the card for small purchases that are less than or equal to the remaining amount. In some states, laws may allow you to request a cash payout for very small residual balances from the merchant, but this varies by state and merchant policy.
How to transfer money from an Amex gift card to a bank account?
Direct transfer is not possible. Indirect methods include using the gift card for all your regular spending (saving your cash), selling the card online, or in some cases, attempting to link it to a digital wallet like PayPal and then transferring funds, though this latter method is often complex and not officially supported.
How to activate an American Express gift card?
Most Amex gift cards come pre-activated or can be activated by visiting the Amex gift card website or calling the toll-free number provided on the card or packaging. You will typically need the card number and the security code.
How to add an Amex gift card to a mobile wallet?
You can usually add an Amex physical or eGift card to mobile wallets like Apple Pay, Google Pay, or Samsung Pay by selecting "Add Credit or Debit Card" in your wallet app and manually entering the gift card details. This allows for contactless payments but doesn't convert it to cash.
 |
