Transferring Funds From Your Prepaid Card to Your Bank Account
With a prepaid card, you can quickly and easily make purchases in-store or online without worrying about having cash on hand. It is safer and more convenient to use a prepaid debit card instead of carrying cash.
Paychecks and government benefits can both be loaded onto the same prepaid card.
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How to move money from a prepaid card to a savings or checking account is a common question given the widespread use of prepaid cards.
In order to get started, you need to determine if your card supports direct deposits.
Yes Most prepaid cards allow you to transfer funds to a bank account. The specifics of this process, however, are based on the kind of prepaid card you have.
Prepaid cards can be divided into two categories:
Can I ask which one you have?
You can only use this card at designated retailers, such as restaurants and gas stations. g Home Depot
The Secret to Reversing Charges on Your Credit Card Using a service like Raise to sell unwanted gift cards for a profit is a strategy we've discovered.
To get money off our prepaid cards, we had a hard time finding a quick and reliable method. A reader once provided an easy way to use almost any prepaid card.
Sending money with a remittance service like MoneyGram is a convenient, low-cost, and risk-free option.
We have received feedback that some users of MoneyGram are having trouble locating the Account Deposit / Debit Card Deposit option. In that case, you can still use either the PayPal or USPS options we discuss below.
We really like this approach because of the following reasons:
MoneyGram is the second largest money transfer company in the world, and has been in business since 1940, so sending money through them is a safe bet.
Quick: With a debit card deposit, you can get your money in a matter of minutes.
• Low cost: $1 minimum charge 99 To find out how their prices are set, please refer to the following section:
It seems to work for pretty much any prepaid card, and dozens of our readers have already used it with success.
Instructions for using MoneyGram to move funds from a prepaid card to a bank account are as follows:
To sign up for an account with MoneyGram using just your email address, visit their website and click "Sign Up." To prove your identity, you may be asked to present a photo ID.
You can send money once you've signed up by selecting that option from the main menu. A screen similar to the one shown above should load for you.
Here on this very page:
- Amount to be sent * Please enter the amount you wish to send.
- Choose a Credit or Debit Card
- Follow the prompts to make a deposit from your bank account or debit card. To do this, you'll need access to the recipient's bank account via debit card.
When you click the button labeled "next," you'll be taken to a screen that looks like the one shown above. Specify the recipient's information here. Your name, address, and financial information (bank, credit card, etc.)
You can proceed by clicking the "Next" button. Many account deposits can be processed in minutes, per the MoneyGram website, provided that it is during normal banking hours and all necessary systems are available.
There will be a cost associated with your transfer that is proportional to the total amount MoneyGram's minimum fee is $1 for transfers of less than $200. 99 It adds $1 to payments over $200. Ninety-nine point one percent of the money that was sent
You'll pay $1 to send $500, for instance. One hundred and ninety-nine $5's, or 99
MoneyGram's homepage features a fee calculator that can be used to get an idea of the total cost of your transfer before you send any money.
Signing up for MoneyGram Plus Rewards can help you save money if you plan to use this service frequently.
This program will save you 20% on transfer fees on your second transfer and 40% on fees on your fifth transfer.
Using MoneyGram's Plus Rewards program to your advantage can save you a lot of money on large transfers.
For online transfers, the maximum allowed is $10,000 per 30 days, with a per-transaction cap of $10,000.
In order to send more money, you must visit a physical location that acts as a MoneyGram agent. However, according to the MoneyGram FAQ, the majority of agent locations only accept cash.
Transfers from your MoneyGram prepaid card to your bank account are processed the very same day.
Are you prepared to withdraw funds from your prepaid card? Just go ahead and visit the MoneyGram website to get things rolling.
With a few clicks, you can transfer the funds from your prepaid card to your PayPal account. Although there is a small fee associated with using PayPal, the service is convenient because it can be completed entirely online.
You can sign up for a free PayPal account if you don't already have one.
What we need from you is:
- Acknowledgement of the full name
- Dialable Phrases:
- A valid ID
Just a few minutes after submitting your application, your account will be reviewed, approved, and made live.
In the following step, you will connect your prepaid card to your PayPal account. In this way, you can transfer funds from your card to your PayPal account.
You'll also need to verify your identity by linking a valid payment method, such as a debit or credit card, to your account. If you have a prepaid card, you can use it to get cash at this ATM.
Follow these instructions to establish a connection between your account and a financial institution:
- Go to your PayPal account's login page.
- Use the "Wallet" link. ”
- When linking an account, select "Link a Card" or "Link a Bank" as appropriate.
- Please complete the verification process by entering the required information.
- Launch your PayPal client.
- To access the wallet, select the appropriate link. ”
- To do this, click "Link a Bank Account." ”
- Enter a string of random characters in the bank information field and press enter. As a result, you'll be prompted to manually enter the information for your prepaid card.
- Enter your prepaid card's account and routing numbers.
- Connect by selecting "I Agree" ”
- Please refrain from selecting the "Confirm Instantly" button. Please verify the transaction by signing into your online banking.
- Instead, select "Request Deposits" and wait for PayPal to approve your request. With this, you can move funds from your prepaid card to your PayPal account.
- To Await Approval Your credit card or bank account will receive test charges from PayPal. You'll get your money back after this.
As soon as you receive confirmation that the charges have been authorized, you can transfer funds from your prepaid card to PayPal.
You can now move funds between your prepaid card and PayPal or a bank account by following these steps:
- Enter your PayPal login details.
- To access your virtual wallet, select "Wallet." ”
- Just hit "Add Money Online" after clicking "Send Money." ”
- If you want to use a prepaid link card, that's fine.
- The next step is to enter the amount you wish to transfer and finish the transaction.
Instantaneous deposit into your PayPal account is expected.
The funds in your PayPal account will then be available for transfer to your bank account, from which you can then withdraw cash.
- When using the standard transfer method, it costs nothing. However, you should allow three to five business days for this.
- You'll be charged 1% of the amount transferred by PayPal if you opt for the expedited transfer.
Sending a US Postal Service Money Order from your prepaid card to your bank account is another option.
You'll need to go to the Post Office instead of using PayPal, so before you go, make sure you know the location and hours.
- The postal service is where you need to be.
- Use the remaining balance on your gift card to buy a money order from the US Postal Service.
- Sign your name on the back of the money order. Be sure to include your full name and mailing address in the spaces provided.
- You should visit your bank to either deposit or cash the check.
- If they have the funds on hand, some post offices may also be able to cash the money order for you.
- $1 45 for a USPS money order of up to $500
- $1 US$501-$1,000 USPS money orders cost .95.
Prepaid card to bank account transfers are a popular topic of inquiry. This allows us to see which playing cards are the most commonly problematic for players.
Detailed instructions on how to move money from a variety of popular US prepaid cards to your bank account are provided below.
There are no hidden costs associated with using an American Express Bluebird card, as there are with other prepaid debit cards.
The card can be loaded through direct deposit, cash load at Walmart, mobile check deposit, and by using a debit or credit card, and then used to pay bills online or through a mobile device.
American Express offers this card to people who have been turned down for a bank account to give them access to a checking account.
If you have a Bluebird prepaid card, you can move funds from your Bluebird account to a linked bank account by following these simple instructions:
- Enter Your Bluebird Login Information
- If you have a bank account linked, it will be shown on the dashboard.
- If you're adding a new bank account, enter the routing number and account number.
- To confirm your Bluebird account, please wait for Bluebird to make two test deposits. You'll only have to do this once every five business days, but it may take that long. Once your card has been verified, you can load funds to it whenever you like.
- To withdraw funds, head to the "Cash Out" area.
- To send funds to your bank account, select the "Transfer to Bank" button. ”
- Choose the destination bank account.
- Rectify the deal as agreed.
- Money will appear in your account in 2–4 business days.
With a Key2Benefits Prepaid Card, you can move the funds on the card to your bank account, or you can withdraw the entire balance. For a successful money transfer, you'll need both the receiving bank's Routing Number and the receiving account number.
- Get started at Key2Benefits.com by logging in.
- In the left-hand menu, select "Card to Account Transfer."
- Screenshot of the Card to Account Transfer screen
- Enter the sum you wish to send.
- A Routing Number must be entered.
- Put in your Account Number here.
- Please Select an Account Type
- If this is a legitimate request, please enter the security code displayed on your screen.
- To proceed, please click the "Continue" button.
- It's important to double-check your details.
- To submit your information, please press the "Submit" button.
Purchases, bill payments, and cash withdrawals can all be made with the Green Dot Prepaid Visa Card. There are a variety of cards available, including one designed especially for teenagers.
There is no online availability for Green Dot Prepaid Visa Cards.
Money loaded onto a Green Dot prepaid card can be moved to other bank accounts, within the parameters set by the receiving bank.
Follow these steps to move money from your Green Dot prepaid card to another Green Dot card or an external bank account:
- Register your Green Dot card online.
- Money Transfer Option
- Pick an existing bank account to use, or add the recipient's bank information.
- Simply confirm your selections using the on-screen prompts.
- It takes zero processing time for funds to move from one Green Dot card to another, but it can take up to three banking days to move funds to another bank.
If you have a Netspend Prepaid Card, you can send and receive money with other people who also have one. In order to deposit money into your bank account,
- To access your Netspend account online, log in.
- Creating an account is as simple as signing up and following the on-screen instructions.
- The bank's transfer fees are up to them.
Please be aware that some financial institutions may not offer this service. If you have any problems, you should inquire with your bank about this option.
You can load funds onto a Visa Prepaid Card and then transfer those funds to your bank account in a number of different ways.
Visa prepaid card holders interested in transferring funds to a bank account should first confirm the availability of such a service with their card issuer.
The website for locating your prepaid Visa card can be found at https://usa.visa.com/pay-with-visa/find-card/get-prepaid-card. For the time being, we were unable to locate a means of transferring funds to Visa prepaid cards such as smiONE, ACE Cash Express, MyVanilla, and One VIP. For this reason, sending payment for these cards via MoneyGram, PayPal, or the US Postal Service is recommended. )
How to proceed if you have a prepaid debit card that is not described above
Each prepaid card has a slightly different procedure, but this step-by-step guide should work for the vast majority of cards:
Go to the website of the company that issued your prepaid card and familiarize yourself with its features. Can you use it just like a regular debit card anywhere?
The following are some of the features found on specific cards:
You can use the Card to pay for goods and services anywhere that accepts Visa debit cards in the US.
On the other hand, some cards can only be used at select locations:
You can use your Card at any US grocery store, specialty foods store, food truck, or online food retailer that accepts Visa debit cards.
The second step is for you to find out if your card is the type that can be used in any location within the United States (the first type). If not, please refer to our instructions on how to withdraw funds from a gift card.
When you use their website or mobile app, some prepaid card companies will even help you transfer money to your bank account. Prepaid card issuers typically have their own websites, so you should check there first.
Look at the Frequently Asked Questions section of your credit card company's website.
On this page, you can find the answers to the most frequently asked questions. To the extent that your credit card issuer permits transfers, this policy will be communicated to you explicitly.
For instance, here's what you can find on the frequently asked questions page for the Bank of America CashPay card:
CashPay's Online Funds Transfer service is available at www.cashpay.com. bankofamerica To move money from your CashPay account to a U.S. checking or savings account of your own, visit com/cashpay (a fee will apply). ”
Inconveniently absent from the Frequently Asked Questions To learn more about the benefits of your card, visit the features page of your financial institution.
If you can't find the answer to your question on the frequently asked questions page of your prepaid card issuer, try looking at the list of benefits and features that comes with your card.
This data can be found on the 'Card Benefits' page of the Netspend website:
Be sure to supplement your Netspend Card Account with a traditional bank account. Money can be transferred from your Netspend Card Account to any of your linked bank accounts. ”
The next step is for you to find out if your prepaid card issuer supports transfers to your bank account. If you can't find any other way to pay, PayPal or a USPS money order are probably safe bets.
If your prepaid card issuer permits such a transaction, you can create an account with them or access an existing one.
Bringing your prepaid card with you is a must if you need to register. After registering, you will be able to use your login information for all future purchases.
Most prepaid card companies will require your bank's routing number and account number in order to initiate the transfer.
A 9-digit code that identifies the bank where your account was set up. Finding it at the back of your checkbook is one possibility.
It's also an ABA or RTN number.
Have this on hand just in case Seek out your bank's online portal if you're unsure of your account's routing number.
All of a bank's routing numbers can be found on a single page. Check out the U.S. Bank online, to cite just one example
Prepaid card companies may have slightly different guidelines, so it's important to read and follow those guidelines closely.
The prepaid card company you use should have a customer service hotline you can call at any time if you get stuck. Here is a sample of the Key2Benefits Prepaid Card website's comprehensive how-to guides:
The time frame for the transfer will vary depending on the institution you use. Some wire transfers can be finalized within a day's time, and even sooner in some cases.
In most cases, however, the funds will appear in your bank account within a few business days.
It takes up to 5 business days for a new "transfer-to" account you create online to be verified, which is why this is necessary.
You may then wait an additional 2 business days to see the funds in your account.
You can use a service called Raise to move money from most prepaid gift cards to your bank account.
Gift cards have more restrictions than other types of prepaid cards. You cannot use them to make international payments, and they are only accepted at a limited number of retail locations.
Most gift cards have a time limit on when you can use the funds before they expire and become useless.
Prepaid cards, on the other hand, can be reloaded and used indefinitely while gift cards can only be used until their balance is depleted.
Finally, since gift cards don't actually contain cash, neither the PayPal nor the USPS money order methods will work. You are essentially holding store credit rather than actual currency.
This is where Raise comes in. It's a market where you can buy, sell, and trade gift cards for the most value.
The catch Don't count on getting the face value of your gift card.
It's impossible to say how much you'll make off of selling your gift card because the amount will be determined by the bids other people are willing to place on it.
So make sure the cash value is what you want before selling your gift card on Raise. If that's the case, you might as well just use it at your preferred retailer.
- To donate, please visit this page on Raise.
- Put up your gift certificate for sale on the Raise website. A store's name, gift card type, and gift card amount must be entered.
- Listings offering gift cards for sale must go through an approval and verification process, which can take up to 24 hours.
- Hold out for offers.
- Whenever you get a good deal, take it! Just accept it and pay how you want to.
- The funds are available for withdrawal via PayPal or direct deposit.
- When selling a gift card on Raise, you can do so without spending a dime.
- Raise will take a 15% cut of all proceeds. In this case, the selling price is used instead of the gift card's face value.
Raise does not accept all gift cards or all brands of gift cards. Here is the most recent list, which you can view.
Depending on the type of prepaid card you have, you may or may not be able to link your card to a bank account. Find out if your prepaid card or gift card has this feature by contacting the company that issued your card.
If you are unable to transfer funds from your prepaid card to your bank account, you can try one of the alternatives mentioned above, such as a money transfer service or a mobile payment app.
Were you successful with any of these approaches? Which strategies were successful, and which were not? Write your thoughts in the box below.
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