You can cash out gift cards like AMEX at will, making them a helpful asset rather than a waste. One of the most widely used gift cards is an AMEX gift card, which you may use in practically every retail establishment. You might only want money and have no desire to make any purchases.
American Express (AMEX) is a global company that offers credit card services with its headquarters in New York, United States. The company began operations in 1850, and it is one of the 30 companies that make up the Dow Jones Industrial Average; and works with banks all over the world to provide payment card services.
Ways To Cash Out AMEX Gift Card
Most card users are unaware that they can redeem gift cards for cash. We are accustomed to utilizing debit, credit, and prepaid cards to make cash withdrawals at ATMs. There are alternative ways to obtain money from a gift card, even though you cannot use an ATM.
Remember that most gift cards have multiple options to be redeemed for cash. If you don’t use sneaky methods, you cannot transfer the balance of an AMEX gift card to a bank account like you cannot work with a work amazon gift card.
You should be aware of the value of your AMEX gift cards before you cash out. You can easily know your AMEX gift card balance by visiting the AMEX website. You will be required to fill in the necessary card details to see the amount you can cash out. You can cash in your gift card in the ways listed below.
1. Sell Your AMEX Gift Card On an E-commerce Platform
You can list your gift card on several e-commerce platforms where many eager customers are ready to buy. These platforms include Prestmit, Facebook Marketplace, eBay, Craigslist, etc. It can be a good idea to resell your gift card on these websites. All you have to do is put your gift card up for sale at the price you want, but keep in mind that if you sell it quickly, you’ll need to keep the price a little lower than the card’s value.
For instance, if the balance on your gift card is $100, you might sell it for $90
2. Purchase Items For People And Request Cash For Reimbursement
You need to have a customer who wants to buy something quickly, whether they do it online or in a physical store. They will pay you the cash once you use your American Express gift card to purchase the item for them. It is quite simple. Whether you need the money immediately, stay around any merchant and ask any customer if you may use your gift card to make a purchase. Because you wouldn’t receive cash less than the value of the gift card, this is advantageous.
3. Retail Arbitrage
Consider this possibility if you want to use your gift card to generate more cash. Remember that you will have to work hard. How does that function? All you have to do to make this work is visit retail stores.
Look for in-demand things on sale, buy them with your American Express gift card, and then either sell them to individuals or on other online markets like eBay or Facebook Marketplace. If you don’t require immediate cash, this strategy will work perfectly.
4. Buy A Money Order
Some owners of AMEX gift cards have had success using their gift cards to buy money orders, which they have cashed in for cash.
It might or might not be available depending on where you buy the money order since some places demand a gift card with a pin for money order purchases. If so, you might be able to buy a money order after purchasing another gift card with a pin using your AMEX gift card. Be aware that there can be charges associated with purchasing gift cards, buying or cashing money orders, etc., before doing so.
5. Request For A Refund
If you are the one who purchased the gift card, you may request a refund. If you bought the card without thinking it through or afterwards decided against it, there might come a moment when you do not need it.
Some specific terms and conditions apply; you should read and comprehend them. You can also request a refund for your purchase by calling AMEX at 1-833-205-8622.
6. Add AMEX Gift Cards To Your Mobile Wallet
There are mobile wallets that support gift cards, as I have explained. Similar to adding a debit or credit card and using it for your purchase, PayPal enables you to add one. As a result, you can add one, start a PayPal to a bank transfer, and then take money out of your bank account. That is, incidentally, a covert technique to move funds from a gift card to a bank account.
7. Cash Out On Low Balances
If the balance on your Amex gift card is low, you can convert it to cash. If your state orders businesses to cash out modest sums, then that is conceivable. This is possible if your balance is as low as $10. Depending on the state, the requirement could change.
How To Sell AMEX Gift Cards On Prestmit
1. Create a Prestmit to get started.
2. Click on “Begin Trade” to proceed.
3. Select “Sell Gift Card” while you fill in the necessary details.
4. Click on the “Category”. In this instance, you will choose an AMEX gift card.
5. Select the ” Gift Card Type” as either a physical card or an Ecode.
6. Enter the “Amount” of the AMEX gift card you want to sell. Prestmit has a gift card rate calculator on its platform; as such, you can see the exchange rate of your gift card equivalent in naira or cedis.
7. Upload the image of your AMEX gift if you are selling a physical card while you fill in the code of the digital type in the comment section.
8. Go to “Payout Method” to choose your preferred mode of payment. You may either receive payment in fiat currency (naira or cedis) or cryptocurrency (BTC, USDT, LTC, or DOGE).
9. You will receive an instant payment upon the successful confirmation of your transaction.
AMEX gift cards provide you with a range of prospects to enable you to have a cash out. While you try to make money from your card, it is important to adhere to related terms and conditions of conversion and trade with a reputable gift card trading platform when necessary.