Can I Deposit Money From A Visa Gift Card

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Visa gift cards are non cash, just it is possible to plow them into cash using Square, a card reader for small businesses to take credit carte charges. Some articles suggest using PayPal, just PayPal doesn't ever work since these souvenir cards can't be verified. Square is another option, but information technology will price you a percentage of the amount transferred and the cost of the reader if you purchase one (details in "Tips" section). Please note that some users report Foursquare has started to block Visa gift cards for some users. At that place is a possible workaround, but there is no guarantee it will piece of work either.

1

Activate your Visa Gift Card online at the website provided on the card. Many cards come up pre-activated, and so you don't take to worry about this unless the bill of fare says that it has to be activated.
2

Check your card balance if you do not know it. This can exist done either by going to a website or calling a number (both volition be on the bill of fare). Remember the remainder and minimize the number of balance checks. Some issuers of Visa souvenir cards charge a fee to check the residuum, speak with customers service and just about anything else.

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3

Transfer the coin or spend it chop-chop. Visa souvenir cards, forth with the similar carte du jour from American Express, accuse monthly fees just for having a balance. If you lot plan on spending or trying to become information technology into your bank business relationship, do information technology speedily.^[1]
four
Sign up for Foursquare and enter your information. This can be done either via the app, which is bachelor for both iOS (iPhones/iPads) and Android, or via the website, www.squareup.com. Yous will need to enter:
- Your name and email
- The proper noun of your business
- The type of business
- How you plan to use Square
- Estimated annual revenue.
- If y'all are not a business, y'all will still need to enter information for these fields.
- Ostend your email address.
5

Link your depository financial institution account to Foursquare. Square volition eolith the balance from your gift card or any other transactions into this bank account. This is not typically immediate, and it can take up to ii business days according to Foursquare's FAQs. This approach may not work if y'all need to make the transfer from the gift carte quickly.^[2]
vi
Decide if you will use a card reader or manual entry. Square charge different rates to users if you employ the bill of fare reader or make a manual entry. A reader charges a lower fee of ii.75% versus the 3.5%+$0.fifteen transaction fee for a manual entry.^[3]
- You tin purchase Square readers at a store similar All-time Buy, order one from Foursquare for $29.00, or borrow one from a friend. Multiple accounts can share the same reader.
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i
Appear like a merchant. While Foursquare indicates it accepts Visa gift cards, at that place are mixed reports that Square volition reject a Visa souvenir card if it believes you are using the service one time to transfer a remainder. In order to avoid this, you lot demand to convince Square that you are a regular merchant or find a friend that is an established merchant to brand the transfer for you.
- At that place is no guarantee this will work, merely it will increment the likelihood of success.
- You tin skip this part and try to brand the souvenir menu transfer following the steps in the next part. Just exist aware that information technology may neglect.
2

Open the Square app and enter an amount for a transaction. This is a transaction that you lot create and pay with your ain funds or credit bill of fare. You are not actually ownership or selling anything. This creates a transaction record in Square before trying to transfer the Visa gift card balance. It is recommended that you enter an amount in Square that is not as well large since information technology charges a transaction fee. You will get this money back in the bank business relationship that is linked to Square, it is not disappearing.
iii

Input the credit carte du jour information for the accuse. You are not using the Visa gift card nonetheless, then cull another menu for this transaction. Information technology does not matter what kind of bill of fare you use.
4

Conduct a few more small transactions with your own funds. This will make you announced more like a merchant and also serve equally a exam ahead of a the larger balance transfer.
v

Bank check your bank account linked to Foursquare. The transactions you accept made are credited to your bank business relationship within two business concern days. Square will charge transaction fees, so the amount transferred into your banking concern account will be the amounts you entered less the fees.

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1
Charge the gift card residue on Square. The gift menu will be authorized, the card's balance will fall to zero, and the funds will be deposited by Square into your banking concern account inside one business concern day.
- If Square does non let the transfer, yous volition run across a note that it is against their policy to transfer a Visa gift card balance. They volition still accuse the iii.5% or 2.75% fee to your bank account, and the balance volition go credited back to the Visa gift card.
2
Check your banking company business relationship for the money. It should take just one business day for the money to show up in your account. Allow an extra solar day if you made the accuse subsequently in the solar day, some banks also take time to process it. The transaction could prove upwards as a pending deposit and may not accept immediate availability. Check your banking concern'due south policies online or with your branch.
- A depository financial institution's stated policy is typically the worst case scenario for your fund availability. Information technology is often faster than the stated time frames.
3

Check the Visa gift carte du jour balance. The Visa gift card should have a nada rest if y'all successfully transferred the funds. However, if Foursquare rejected the transaction, you will need to check the residual and make sure the fund were returned to the Visa gift card.

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Question

How can I bank check on my gift menu residuum transfer?

one.) Call the number on the back of the Visa gift carte du jour and check the balance. two.) If there is a website listed on the back of the gift card, you tin get there and bank check the residue online. three.) Bank check your bank account to see if the money was deposited.
Question

Can I get cash out of my gift menu?

No. Like most other types of gift cards, you lot cannot extracted money from a Visa gift carte du jour.

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If you utilise the Foursquare reader, you volition be charged a flat charge per unit of ii.75%. If y'all manually enter the card number, yous will be charged 3.5% + fifteen¢.
The very small amount that you lot lose in processing fees is made upward for in the balls of knowing that y'all'll be able to use the funds, as Visa gift cards don't e'er get through when purchasing something.
Individuals just transferring gift carte balances are unlikely to justify price of reader.

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By post-obit these steps, you lot may be circumventing the intended apply of the bill of fare.
Square may reject the transaction citing that it does non allow you to use the service to just transfer a Visa gift menu balance. In this case, yous the transaction amount is credited back to the gift carte du jour, but Square tin can still charge yous the normal transaction fee.

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Things You'll Need

Visa souvenir card
Square account
Bank account
Email address
Foursquare reader (optional)

Near This Article

Article Summary Ten

1. Activate your Visa gift card online if it isn't pre-activated.
two. Sign upward for Square.
iii. Link your bank account.
4. Convince Square that yous are a regular merchant if necessary.
5. Enter an amount for a transaction and input the card data.

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