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.
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. But the procedure is different for each prepaid card.
Prepaid cards can be divided into two categories:
To wit: which one do you have?
You can only use this card at designated retailers, such as restaurants and gas stations. g Toys R Us
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It took us a long time to figure out how to reliably and easily transfer money off of our prepaid cards. 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. You can still use the PayPal or USPS options we discuss below if this is the case.
We really like this approach because of the following reasons:
MoneyGram is the world's largest international money transfer service and has been in business since 1940, so sending money with them is risk-free.
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.
When you're ready to send money after signing up, select that option from the main menu. A screen similar to the one shown above should load for you.
Below you'll find:
- 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 a debit card associated with the receiving bank account.
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. Subject to banking hours and systems availability, MoneyGram claims that many account deposits can be made within minutes.
There will be a fee associated with the total amount you are sending. MoneyGram has a $1 minimum fee for all transactions under $200. 99 It adds $1 to payments over $200. Ninety-nine point one percent of the remitted sum
You'll pay $1 to send 0, for instance. There are 99 of them, and each one costs , for a grand total of 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.
Limits of $10,000 per online transfer and $30,000 per month are in place.
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 same business day.
Want to withdraw funds from your prepaid card? Start your MoneyGram transaction right now by going to their website.
With a few clicks, you can transfer the funds from your prepaid card to your PayPal account. If you want to pay someone with PayPal, you'll have to pay a small fee, but the transaction will be quick and simple, and you can do it all online.
You can sign up for a free PayPal account if you don't already have one.
What we need from you is:
- Author's complete given name
- Dialable Phrases:
- A valid ID
A few minutes after submitting your application, your account will be reviewed for activation.
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. Here is where you can get cash from your prepaid card.
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. ”
- For each type of account you have, select either "Link a Card" or "Link a Bank."
- Put in the info asked for, and finish the verification process.
- Launch your PayPal client.
- To access the wallet, select the appropriate link. ”
- Pick "Link a Bank Account" from the drop-down menu. ”
- 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" ”
- Avoid hitting the "Confirm Instantly" button. Please verify the transaction by signing into your online banking.
- Instead, you should select "Request Deposits" and then wait for PayPal to approve your request. The funds can then be transferred to your PayPal account from the prepaid card.
- Patiently awaiting approval PayPal will make mock withdrawals from your bank account and credit card. You can expect a refund of this amount.
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:
- Initiate a session in your PayPal account.
- 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.
- Just enter the money you want to send and confirm the transfer.
Your PayPal account should be updated immediately.
The funds in your PayPal account will then be available for transfer to your bank account, from which you can then withdraw cash.
- If you use the standard transfer method, it's completely free. However, you should allow three to five business days for this.
- To use PayPal's instant transfer feature, a one percent fee will be applied to the total amount.
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.
- Obtain a trip to the neighborhood post office
- Use the remaining balance on your gift card to buy a money order from the US Postal Service.
- Sign the money order as if it were payable to you. Be sure to include your full name and mailing address in the spaces provided.
- You should a bank to either cash it in or deposit it.
- 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 0
- $1 Money orders from 1 to $1,000 cost via USPS.
Prepaid card to bank account transfers are a popular topic of inquiry. Thus, we can see which playing cards are the most commonly problematic.
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.
Follow these instructions to move funds from your Bluebird prepaid card to a linked bank account:
- 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.
- Hold tight while Bluebird makes two test deposits to your account. It's only necessary to do this once every five business days, but it can 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 make a bank transfer, please select the button labeled "Transfer to Bank ”
- Choose the destination bank account.
- Rectify the deal as agreed.
- Money will appear in your account in 2–4 business days.
All or part of the funds on your Key2Benefits Prepaid Card can be moved to your own checking or savings account. For a successful money transfer, you'll need both the receiving bank's Routing Number and the receiving account number.
- Go to Key2Benefits.com and sign in.
- In the left-hand menu, select "Card to Account Transfer."
- The screen for initiating a transfer from a card to an existing account will load.
- Enter the sum you wish to send.
- Don't forget to enter your Routing Number.
- A Account Number must be entered.
- Account Type Selection
- To ensure this is a legitimate request, please enter the security code shown on your screen.
- To proceed, please click the "Continue" button.
- Check that everything is accurate.
- To send your information, please select 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 send 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.
- To confirm, please follow the on-screen prompts.
- Transactions between Green Dot accounts are updated instantly, while transfers to other banks can take up to three business days to reflect.
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,
- Initiate a session at the Netspend Online Account Center.
- Create an account and then connect your bank account by following the on-screen instructions.
- The bank's transfer fees are up to them.
It's worth noting that some banks might not offer this feature. If you have any problems, you should inquire with your bank about this option.
Visa Prepaid Cards come in a variety of forms, each with its own method for transferring funds to a linked bank account.
Visa Prepaid Account Funds Transfers Require Confirmation From Your Prepaid 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. (Note that we couldn't locate a money transfer option for Visa prepaid cards like smiONE, ACE Cash Express, MyVanilla, and One VIP at the time of writing.) As a result, MoneyGram, PayPal, or the United States Postal Service are the recommended methods of payment for these cards. )
Here's what to do if your prepaid debit card isn't one of the ones we mentioned 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. Do you know if it's accepted everywhere that debit cards are
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:
Any grocery store, specialty foods store, food truck, or online food retailer in the United States that accepts Visa debit cards will accept your Card as payment.
The second step is for you to determine whether or not your card is accepted nationwide in the United States (the first type of card). 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.
View the Frequently Asked Questions section of your credit card company's website
In this section, you can find the typical Frequently Asked Questions page. You can expect clear communication from your credit card company regarding transfer policies.
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 Have a look at the benefits offered by your credit card company.
If you can't find the answer to your question on the frequently asked questions page of your prepaid card's issuing company, try looking at the features and benefits page.
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. Connect your bank account to your Netspend Card Account so you can move money back and forth between your 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 nine-digit code that identifies the bank where your account was set up. Finding it at the back of your checkbook is one possibility.
Your ABA or RTN number is the same thing.
Prepare for this in advance. Seek out your bank's online portal if you're unsure of your account's routing number.
The routing numbers for most banks can be found on a single page. Check out the U.S. Bank online, to cite just one example
Make sure you carefully adhere to the specific guidelines provided by your prepaid card's issuer.
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.
However, it may take a few banking days before the funds appear in your account.
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.
Afterwards, it may take an additional 2 business days before the funds show up in your account.
Raise is a service that allows you to transfer funds 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.
Moreover, gift cards are non-reusable after their balance is depleted, while most prepaid cards can be reloaded and used repeatedly.
Finally, since gift cards do not 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. You can get the best deals on buying, selling, and trading gift cards at this online marketplace.
The catch Don't count on getting the face value of your gift card back at the ATM.
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.
Be sure that the cash value is what you want before selling a gift card on Raise. If not, it might be better used at your preferred retailer.
- Check out this page on Raise.com.
- Put up your gift certificate for sale on the Raise website. The store, card type, and 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.
- Posting an offering of a gift card for sale on Raise does not cost anything.
- Raise will deduct 15% from each purchase. 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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