How To Transfer Money Off A Prepaid Card
This post may contain chapter links. Which means we may earn a commission if you lot decide to make a purchase through our links. Please read our disclosure for more info.
Tabular array of Contents
- Can You Transfer Money From A Prepaid Menu To A Depository financial institution Business relationship?
- Prepaid Debit Card
- Prepaid Gift Card
- Method one: How To Transfer Money From Your Prepaid Card To Your Bank Account Using MoneyGram
- Step i: Sign Upwardly For An Account At MoneyGram.Com
- Step 2: Navigate To The 'Send Money' Page And Fill Out Payment Info
- Step iii: Consummate Your Banking concern Details
- How Much Does It Cost?
- How To Save On The Transfer Fee?
- Is There A Limit When Transferring Money Using MoneyGram?
- How Long Does It Take To Transfer Money With MoneyGram?
- Method ii: How To Transfer Money From Your Prepaid Card to Your Banking company Business relationship Via PayPal
- Step 1: Create a PayPal account.
- Step 2: Link your prepaid card AND an active bank business relationship to your PayPal account.
- Stride iii: Transfer money from a prepaid bill of fare to your PayPal and bank account.
- Fees:
- Method three: How To Transfer Coin From Your Prepaid Carte du jour to Your Bank Account Via USPS Coin Society
- Hither are the steps:
- Fees:
- Pop Prepaid Cards That Allow Transfers To Bank Accounts (With Instructions)
- American Express Bluebird Prepaid Card
- Key2Benefits Prepaid Menu
- Green Dot Prepaid Visa Menu
- Netspend Prepaid Card (Visa, MasterCard, Skylight ONE)
- Other Visa Prepaid Cards
- How To Transfer Coin From Prepaid Card To Banking concern Business relationship (For Cards not Listed Above)
- Footstep 1: Find Out If Your Prepaid Card Can Be Used Anywhere, Or Is Limited To Participating Merchants Only
- Step 2: Visit Your Prepaid Menu's Website To Run across If They Offering Transfers To A Bank Account
- Step 3: Annals Or Log-In To Your Prepaid Card Account
- Pace 4: Link Your Depository financial institution Account To The Prepaid Bill of fare By Providing The Routing Number And Account Number Of Your Banking concern Account
- Stride 5: Follow Additional Instructions From The Prepaid Card Company And Perform The Transfer Online To Your Bank Account
- How Long Will Information technology Take For The Money To Be Transferred To My Bank Account?
- How To Transfer Souvenir Carte Balances To Your Bank Account Using Raise
- Follow these steps:
- Fees:
- The Bottomline
Having a prepaid card is a convenient way to pay for products and services, whether in-store or online. Instead of carrying cash around, you merely load your money on your prepaid debit card, making it safer and more than practical.
You can also get your paycheck and government benefits on your prepaid card.
With so many of united states of america using prepaid cards, i usually asked question is how to transfer money from a prepaid card to a savings or checking account?
The starting time pace in the procedure is to bank check if your bill of fare even allows you to transfer funds to your bank business relationship in the first place.
Can You Transfer Money From A Prepaid Menu To A Bank Account?
Yes. You can transfer coin from a prepaid bill of fare to a bank business relationship in about all cases. But how y'all do it depends on what type of prepaid card you take.
There are ii types of prepaid cards:
Which I Do You lot Have?
Prepaid Debit Card
This is a card that can be used anywhere that credit/debit cards are accepted. If you have used your prepaid card at different places with no trouble, then you have a regular prepaid card.
How to get money off your carte? Follow these specific instructions if y'all take any of these cards: American Express Bluebird Carte, Greenish Dot prepaid bill of fare, Netspend prepaid card, Key2Benefits prepaid card.
If you don't encounter your card in that location, you can even so apply three methods to get your money through MoneyGram, PayPal and USPS Money Order.
Prepaid Souvenir Menu
This type of card limits you to purchasing products and services from participating merchants, eastward.g., Home Depot.
How to get money off your card?We've constitute that one way to become coin off a gift card is to utilise a service similar Raise.
Method i: How To Transfer Money From Your Prepaid Bill of fare To Your Banking company Account Using MoneyGram
Nosotros struggled to find a unproblematic, certain-fire manner to movement funds off our prepaid cards for a long time. One day, a helpful reader shared this clever hack that works with virtually every prepaid bill of fare.
Using a remittance service likeMoneyGram, you can transfer money to your bank account apace, cheaply and safely.
Update: We've heard that not everyone can find the Business relationship Deposit / Debit Menu Deposit choice in MoneyGram. If that's the example, you lot can still use the PayPal or USPS methods we talk about below.
Here Are Some Reasons Why We Love This Method:
✅Prophylactic: MoneyGram has been effectually since 1940, and is the 2d largest money transfer company in the world.
✅Fast: Receive your money in minutes if you choose the Debit Card Deposit option.
✅Inexpensive:Fees are equally low equally $1.99. See our department on how their fees are calculated.
✅Reliable: Dozens of our readers take successfully used this method, and information technology appears to piece of work for virtually any prepaid card.
Here are the steps to transfer money from your prepaid card to your bank account using MoneyGram:
Step 1: Sign Up For An Account At MoneyGram.Com
Go to theMoneyGram website and click "Sign Up" to create an account using your electronic mail address. Y'all may have to provide some photograph ID to verify that yous're a legitimate person.
Once you're signed up, click on the "Transport Coin" pick in the card. You should come across a folio like in the screenshot above.
On this page:
- Enter the amount that you desire to transport
- Select Debit/Credit Menu
- Select the 'Business relationship Deposit' option (or the 'Debit Card Deposit' choice if you don't meet the 'Account Eolith' option. This volition require that you lot have a debit card linked to the banking concern account you're sending coin to.
Step 3: Complete Your Bank Details
After clickingside by side, you'll be taken to a page like in the screenshot above. Enter your Receiver's details. This will be information like your name, address and account/debit card info.
Click 'Next'. According to the MoneyGram website, many business relationship deposits are completed within minutes, subject to banking hours and systems availability.
How Much Does It Cost?
You'll pay a fee based on the amount you are sending. For amounts less than $200, MoneyGram charges you a base fee of $ane.99. For amounts above $200, it charges $1.99 + ane% of the transferred amount.
For example, if you're going to send $500, the fee will be $1.99 + $5, for a total of $6.99.
You tin estimate the fee earlier you ship the money past using thefee calculator on the MoneyGram homepage.
How To Salvage On The Transfer Fee?
If you are going to use this service regularly, you tin save on fees past enrolling in theMoneyGram Plus Rewards.
With this program, you will salvage xx% on fees onyour second transfer and 40% OFF on fees every fifth transfer.
If you're transferring a large amount, so taking advantage of the MoneyGram Plus Rewards program volition salve you lots of coin!
Is There A Limit When Transferring Money Using MoneyGram?
The limit for sending coin online is $ten,000 per transaction and up to $ten,000 every 30 calendar days.
If you need to send more funds, you'll have to do information technology in person at one of the MoneyGram amanuensis locations, nevertheless, according to the MoneyGram FAQ, about agent locations just take greenbacks.
How Long Does It Take To Transfer Money With MoneyGram?
All of MoneyGram's transactions occur within the same twenty-four hours, including prepaid carte transfers to your bank account.
Fix to go your money off your prepaid card? Visit the MoneyGram Website to get started.
Method 2: How To Transfer Money From Your Prepaid Card to Your Bank Account Via PayPal
You lot can send the money within your prepaid card to your personal PayPal account. PayPal will charge you a minimal fee, but the process is piece of cake and you tin can do it all online.
Footstep 1: Create a PayPal business relationship.
If you don't take an business relationship yet, you can create 1 for free on the PayPal website.
You'll need to provide the following:
- Full name
- Address
- Phone number
- A valid ID
After completing your application, it merely takes a few minutes for your account to be canonical and activated.
Step 2: Link your prepaid bill of fare AND an active bank account to your PayPal account.
Next, link your prepaid bill of fare business relationship to your PayPal. This volition allow you to send money from your carte to your PayPal account.
You also need to link an active bank business relationship, a debit card, or a credit carte du jour to your account. This is where you volition withdraw the money you receive from your prepaid bill of fare.
To link to your depository financial institution business relationship, follow these steps:
- Log in to your PayPal account.
- Click on "Wallet."
- Choose "Link a Menu" or "Link a Depository financial institution" depending on the type of account y'all accept.
- Enter the required data and cease the verification process.
To link your prepaid carte, follow these steps:
- Log in to your PayPal account.
- Click on "Wallet."
- Choose "Link a Banking company Account."
- In the bank details field, type in some random messages and striking enter. This will prompt you lot to enter the prepaid card details manually.
- Type in the account number and routing number on your prepaid card.
- Link by clicking "Agree."
- Don't click on "Confirm Instantly." This will crave you to log into your personal bank account to confirm the transfer.
- Instead, click on "Request Deposits" and wait for your request to exist canonical by PayPal. This will allow yous to transfer money from your prepaid card to your PayPal account.
- Wait for approval. PayPal will send test charges to your card and bank account. This will be refunded.
Once you get a notification that the charges were approved, you tin and then ship coin from your prepaid card to PayPal.
Stride iii: Transfer coin from a prepaid card to your PayPal and bank account.
Now you're ready to transfer money from your prepaid card to PayPal and your banking company account:
- Log in to your PayPal business relationship.
- Click on "Wallet."
- Choose "Send Money," and so, "Add Coin Online."
- Choose your link prepaid card as the source of funds.
- Fill in the amount to transfer, then complete the transaction.
The corporeality should exist credited instantly to your PayPal account.
After this, yous can transfer the amount in your PayPal account to your banking concern business relationship and so yous can withdraw it in greenbacks.
Fees:
- It's gratis if you utilise the regular transfer option. However, this will take iii to v concern days.
- PayPal will charge you one% of the total corporeality if you cull the instant transfer option.
Method 3: How To Transfer Money From Your Prepaid Bill of fare to Your Bank Account Via USPS Money Social club
You can besides transfer money from your prepaid card to your bank account using a US Postal Money Lodge.
Unlike the PayPal method, you'll need to go to the Postal service Office, so brand sure y'all look up the address and ostend their policies in your area.
Hither are the steps:
- Go to your local post office.
- Buy a Usa Postal Money Club using the balance on your gift card.
- Endorse the money lodge to yourself. Make certain to fill in all the necessary information, including your proper name and address.
- Go to your depository financial institution to cash it out or to deposit it into your account.
- Some post offices can too cash out the money guild for you every bit long as they have plenty cash on paw.
Fees:
- $i.45 for USPS money lodge upwards to $500
- $1.95 for USPS coin order $501 to $i,000
Popular Prepaid Cards That Allow Transfers To Banking company Accounts (With Instructions)
We get many queries about transferring funds from prepaid cards to bank accounts. Then we're able to run across which cards well-nigh people need aid with.
Hither's a list of common prepaid cards in the US and their exact instructions on how to transfer from the prepaid menu to your bank account.
American Limited Bluebird Prepaid Card
The American Limited Bluebird bill of fare is a prepaid debit card that has no monthly or annual fees, no overdraft fees, no foreign transaction fees, and free ATM utilize.
The card can be used to pay bills online or via a mobile device and can exist loaded with straight deposit, greenbacks load at Walmart, mobile check deposit, and by using a debit or credit bill of fare.
The card is issued by American Express and serves equally an alternative checking account for those who have been denied by traditional banks.
Bluebird prepaid cardholders can also transfer money from Bluebird to a linked savings or checking account via these steps:
- Log into your Bluebird Business relationship.
- If you already have a linked banking company account, information technology volition already be displayed on the dashboard.
- If information technology'due south your starting time time linking a new depository financial institution account, fill up in your routing and business relationship number.
- Wait for Bluebird to ship two trial deposits to verify the account. This tin accept upwards to five business concern days, simply you only demand to do it once. Afterward your card is verified, you can transfer money to it anytime.
- Navigate to the "Coin Out" section.
- Click "Transfer to Bank."
- Select the banking concern account y'all'll be transferring to.
- Ostend the transaction.
- It'll take 2 to four business days for the money to reflect in your banking company account.
Key2Benefits Prepaid Card
If you take a Key2Benefits Prepaid Card, you lot can transfer some or all of your balance to your personal savings or checking account. You demand to have the Routing Number and Business relationship Number of the bank account you wish to transfer into for you to complete the transaction.
- Log-in to Key2Benefits.com
- Click on "Bill of fare to Account Transfer" in the left-paw menu.
- The Menu to Account Transfer screen volition announced.
- Blazon in the amount you wish to transfer.
- Type in your Routing Number.
- Type in your Account Number.
- Choose the Account Type.
- Enter the security lawmaking you see on your screen to verify this is a valid request.
- Click "Continue"
- Verify your data.
- Click "Submit".
Green Dot Prepaid Visa Carte
Dark-green Dot Prepaid Visa Card is a prepaid debit card that y'all can employ to make purchases, pay bills and get cash. They take dissimilar cards depending on your needs, including one specifically for teens.
Greenish Dot Prepaid Visa Cards are merely sold in stores.
You can transfer money from your Greenish Dot prepaid menu to other bank accounts, subject area to the receiving bank's limitations and guidelines.
To transfer money from your Green Dot prepaid card to another Dark-green Dot carte or an external bank account, follow these instructions:
- Log in online to your Green Dot card account.
- Select transfer coin.
- Choose a linked bank business relationship or add the depository financial institution details of the receiving account.
- Follow the on-screen instructions and confirm.
- Green Dot to Greenish Dot transfers reflect immediately, while transfer to other banks may take up to three concern days.
Netspend Prepaid Card (Visa, MasterCard, Skylight I)
A Netspend Prepaid Card volition allow y'all to move coin to your bank account, as well equally to other Netspend cardholders. To transfer funds to your bank account:
- Become to the Netspend Online Account Center
- Sign-upwards for an business relationship and follow instructions to link your depository financial institution account.
- Fees for bank transfers volition be determined by the depository financial institution.
Note that this service may not be bachelor for some banks. You accept to bank check with the bank if this is available if you lot run into any problems.
Other Visa Prepaid Cards
If you lot accept a Visa Prepaid Card, the procedure of how to transfer money to your banking concern account will depend on the type of card you accept.
To transfer a visa prepaid to a bank account, yous have to check with your prepaid card provider if this service is bachelor.
Go to this link to find your prepaid card and visit the respective website: https://usa.visa.com/pay-with-visa/find-menu/get-prepaid-menu. (Annotation: at the time of writing, we couldn't notice a money transfer feature for Visa prepaid cards like smiONE, ACE Cash Express, MyVanilla, and One VIP. So you lot should utilize either the MoneyGram, PayPal or USPS method for these cards. )
Here'southward the process to go through if you have a prepaid debit card that was non listed above.
How To Transfer Money From Prepaid Card To Bank Account (For Cards not Listed Above)
The process is slightly different depending on each prepaid card merely hither'due south a step-by-pace guide that should apply to nearly cards:
Step 1: Find Out If Your Prepaid Bill of fare Can Be Used Anywhere, Or Is Express To Participating Merchants Only
Visit your prepaid menu company'due south website and look at the card's features. Can it be used anywhere that regular debit cards are accustomed?
For example, certain cards have the following features:
The Card tin can be used to purchase merchandise and services anywhere Visa debit cards are accepted in the United States.
However, other cards are only express to participating merchants:
Your Menu can be used to purchase merchandise and services at whatsoever grocery store, specialty foods store, food truck, or online food retailer in the US where Visa debit cards are accepted.
If your menu tin be used anywhere in the US (the first type of card), then you tin can move on to step ii. Otherwise, read our section on transferring gift card balances to your bank business relationship.
Step ii: Visit Your Prepaid Menu'southward Website To Come across If They Offer Transfers To A Bank Account
Some prepaid card companies help y'all do transfers to your depository financial institution business relationship through their website or app. So your beginning cease should be the website of your prepaid carte provider.
Check Your Card Company's FAQ Page
Hither, they'll usually have a FAQ (Ofttimes Asked Questions) folio. If your card company allows transfers, they'll state it very conspicuously.
For instance, the Bank of America CashPay carte du jour says the following on their FAQ folio:
"…y'all may perform an Online Funds Transfer via the CashPay Customer Service website at www.bankofamerica.com/cashpay (fee will employ) to transfer funds from your CashPay business relationship to a traditional checking or savings account owned by yous in the United States."
Not in the FAQ? Check Your Card Company'due south Features Page
If yous don't find information technology on your card provider'south FAQ page, check the features and benefits page of your prepaid carte du jour.
On the Netspend website, this information appears on the 'Carte Benefits' page:
"Have a bank account in addition to your Netspend Card Business relationship? Link your fiscal accounts from participating banking company accounts and you tin transfer coin between them and your Netspend Carte Account."
If your prepaid card company offers transfers to your bank business relationship, then carry on to the adjacent footstep. If it's non clearly stated, then your best bet would exist to employ the PayPal method or the USPS coin gild method.
Footstep three: Register Or Log-In To Your Prepaid Card Business relationship
After finding out whether your prepaid card provider allows such a transaction, you tin sign-up for an account or log in if you lot already have an account.
If you need to do registration, and then you will need your prepaid card with you. After signing up, y'all can use the login details for hereafter transactions.
Step 4: Link Your Bank Account To The Prepaid Card By Providing The Routing Number And Account Number Of Your Bank Account
To perform the transfer, almost prepaid card providers will ask yous to link your bank account by inbound your bank account's routing number and account number.
Your routing number is a 9-digit number that tells you where your depository financial institution account was opened. One place to search for information technology is at the bottom of your checkbook.
It'due south also known as your ABA or RTN number.
Make sure y'all have this ready. If you lot don't have the routing number of your bank account, check with your bank's website.
About banks have a page where all their routing numbers are listed. Accept a wait at the U.S. Banking company'south website for instance.
Step 5: Follow Additional Instructions From The Prepaid Menu Company And Perform The Transfer Online To Your Bank Account
Every prepaid carte provider will have a slightly dissimilar set of instructions so make sure to follow them advisedly.
At whatsoever betoken, if y'all're unsure of what to do, your prepaid card provider should have a customer service hotline that you can phone call for help. Here'south an example of the detailed instructions provided by the Key2Benefits Prepaid Card website.
How Long Volition It Accept For The Coin To Exist Transferred To My Bank Account?
How long the transaction takes depends on your bank. Some transfers tin can exist completed inside a few hours or on the same business concern day.
For most banks, though, it unremarkably takes a few business days before you meet the coin in your account.
This is because yous must create a new "transfer-to" account online, which can take up to 5 business concern days to authenticate.
Afterwards that, information technology can accept another ii business concern days to receive the coin in your account.
How To Transfer Gift Carte du jour Balances To Your Banking concern Business relationship Using Enhance
Yes, you can transfer money from most prepaid souvenir cards to your bank account using a service called Raise.
Unlike most prepaid cards, gift cards are limited. You can't send money to another person and you can only use them at specific stores.
Most gift cards besides have expiration dates, so you need to use them quickly and so you don't lose the coin.
In addition, souvenir cards are disposable and tin only be used until the balance reaches cipher, while about prepaid cards are reloadable and tin can be used indefinitely.
Finally, the PayPal method and the USPS coin lodge method we discussed above won't work for gift cards considering they don't contain cash. What you lot have there are basically shop credits, not bodily money.
That'south where Raise comes in. It's an online marketplace where you tin can purchase, sell, and trade your gift cards at the best prices.
The catch? Don't expect to cash out the full corporeality of your gift bill of fare.
You're going to become bids for your gift carte, so information technology'south incommunicable to determine the verbal corporeality you lot tin get since it all depends on what other people are willing to pay for.
So before you sell your gift card on Enhance, make sure that it's really the greenbacks value that you want. Otherwise, you lot may desire to just employ it in your favorite store instead.
Follow these steps:
- Get to this page on the Raise website.
- List your souvenir carte for auction in the Raise marketplace. You'll need to input the store, souvenir carte du jour type, and amount.
- It tin can take up to 24 hours for souvenir carte du jour sale listings to be approved and verified.
- Look for offers to come in.
- In one case you receive an offering you similar, accept information technology, and choose your preferred payment method.
- You can withdraw the coin through your PayPal account or direct deposit.
Fees:
- Information technology's complimentary to list a gift carte for auction on Raise.
- Raise volition take a 15% commission on every sale. This is based on the selling price, not the original gift card amount.
Note:There are certain brands and types of gift cards that Raise doesn't take. You tin bank check the updated list hither.
The Bottomline
The ability to transfer money from your prepaid carte du jour to your banking concern account will depend on the blazon of carte du jour you lot accept. The best mode to bank check whether your carte has this feature is to check the customer service section of your prepaid carte or gift card provider.
If transferring money to your bank account from your prepaid card is not available, you lot can effort the options listed in a higher place such as using a coin transfer service or mobile payment apps to move your coin.
Did whatever of these methods work for you? What worked, and what didn't? Let united states of america know in the comments below!
Source: https://consumerboomer.com/how-to-transfer-money-from-prepaid-card-to-bank-account/
Posted by: russellwheyed.blogspot.com
0 Response to "How To Transfer Money Off A Prepaid Card"
Post a Comment