Have an Amex gift card but need cash instead? How to convert AmEx gift cards to cash.
American Express accounts for nearly a quarter of all credit card transactions in the United States. Gift cards can be a kind and thoughtful gift. If you were given one, the giver probably wanted you to be able to buy something for yourself that you either want or need.
However, what do you do if you need cash for the gift card instead?
While it may take a little creativity, there are ways to preserve your gift card balance so you can use it for other purposes.
Today we share some tips to make this process easier.
Where can you use your American Express® Gift Cards?
The easiest way to get the full value of your gift is to use it for purchases.
These gift cards can typically only be used in stores and online retailers at most, and are accepted anywhere that accepts American Express in the United States and the District of Columbia.
American Express gift cards cannot be used on recurring bills or at ATMs.
Your gift card may be declined if there is no Available Funds on the gift card to cover your purchase or a pre-authorization request.
Some businesses, like gas stations, authorize a certain amount for those who pay at the pump. To avoid this and only keep what you spend, pay at the gas station whenever possible.
To ensure you have enough on your gift card for purchases, keep track of your available balance if your card has been declined.
How to check your American Express gift card balance
Before you use your AmEx gift card to make a purchase or convert it to cash, you need to know how much is on the card.
To check your American Express Gift Card balance, visit balance.amexgiftcard.com and enter your gift card security code, expiration date, and card number.
How to get an American Express gift card
Whether you don’t need to use the gift card in stores or you just need cash now, there are a few ways to turn your Amex gift cards into cash with a little work and creativity.
Here are some ideas on how to convert Amex gift cards into cash.
Request a refund
If you are the one who bought the American Express gift card, it may be possible to get a refund for the purchase.
Although certain terms and conditions apply, you can refer to the cardholder agreement for details. You can also call 1-833-205-8622 to find out how to get a refund for your purchase.
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Take advantage of local laws to cash out small balances
Depending on where you live, you may be able to convert your Amex gift cards to cash if the balance is low. Some states have laws that require retailers to convert remaining gift card balances into cash if the balance is below a certain amount.
While these balance requirements are typically small (under $10) and vary from state to state, it may be worth checking, especially if you have multiple gift cards. Check withdrawal requirements by location here.
Add your American Express gift card to a digital wallet
Do you regularly use Google Pay, Samsung Pay or Apple Pay?
If so, add your American Express Gift Card or eGift Card to your digital wallet to use with regular purchases.
This can be done by opening the wallet app on your device and entering your card number, or by photographing the plastic card.
Sell your gift card
If you have an Amex gift card or other type of gift card, some online marketplaces, gift card kiosks, and check cashing shops allow you to purchase your gift card for cash.
While you lose a percentage of your gift card because these retailers don’t offer you the full value of the gift card, it can still be an efficient way to access much of the value in cash. Walmart has an online gift card website where you can redeem gift cards for cash at www.cardcash.com.
Another way to sell your gift card is to do it in local online groups like a Facebook marketplace.
Some people have had success selling gift cards for a little less than their value, e.g. B. Selling a $50 gift card for $45. Be prepared to prove the gift card balance before completing the sale.
Buy a money order
Some American Express gift cardholders have been lucky enough to use their AmEx gift card to purchase a money order and then redeem the money order for cash.
Depending on where you purchase the money order, this may or may not be possible, as some places require a gift card with a PIN to purchase a money order. If this is the case, you may be able to use your AmEx gift card to purchase another gift card with a PIN, and then purchase the money order. Before doing so, please note that gift card purchases and the purchase or redemption of money orders may incur fees.
I have received numerous gift cards as gifts and prizes over the years. Sometimes these gift cards go really well and my family can start using them right away. Other times we can’t use them and getting cash for the gift cards would be more helpful for our budget. While cashing out gift cards sometimes takes a little creativity, it can net you extra money.
If you’re wondering how to convert Amex gift cards to cash, there might be a few different ways you can do it. Whether you’re adding your gift card balance to your digital payment account, buying a money order, or selling your gift card, it’s possible to get cash with a little work and creativity.
Do you have a method of converting Amex gift cards to cash that we’ve overlooked? Leave it in the comments below!
Kim Ritter is an economical living expert, blogger, and mother of two from small town Iowa. What started as an attempt to help her family save a few dollars a month has now grown into a full-time obsession with helping other parents with money. Visit her online at twokidsandacoupon.com and follow her on Twitter at @2kidsandacoupon for more ways your family can have fun on a budget.