Last Updated on August 3, 2023 by Kimberlee Johnson
Are you scratching your head trying to figure out how to redeem that PayPal gift card you just got? Don’t worry; we’ve got your back.
Today, we’ll show you how to redeem a PayPal gift card.
So, we’ll take you through the process step-by-step and have you use your gift card to make purchases and send money to family and friends before you know it. Let’s get started.
A Guide On How To Redeem Your PayPal Gift Card
- Go to PayPal’s website or app and sign in with your email address and password.
- After signing in, navigate to the “Wallet” tab at the top of the page or the bottom right of the app.
- Click on the “Link a card or bank” button or the “+” icon, depending on the layout of your PayPal account.
- In the pop-up window or drop-down menu, select “Gift Card” as the payment method you want to add. Meanwhile, in the app, you must click the debit and credit cards and enter your password to continue.
- After that, type in your gift card number and click “Link Card” to continue.
- PayPal will automatically verify your gift card balance and display it in your account. The balance will be added to your PayPal account as a separate payment method.
Find out how you can use your Visa gift card on Etsy here.
Can You Send Money With A PayPal Gift Card?
Sending money through a PayPal gift card is not possible. PayPal gift cards are preloaded cards that allow you to purchase items from stores that accept PayPal.
But they cannot be used to transfer funds or send money to other PayPal accounts.
“Technologies like PayPal foster competition because they enable people to shift their funds from one jurisdiction to another, and I think that ultimately will lead to a world in which there’s less government power and therefore more individual control.”
– Peter Thiel, Entrepreneur
And your PayPal account can only transfer funds if you connect it to a credit card or bank account [1].
Once linked, you can quickly transfer funds to other PayPal accounts or make payments to PayPal-accepting vendors. But how can you use a Verizon e-gift card?
How To Transfer Your PayPal Gift Card Balance?
Firstly, you can redeem the gift card balance to your PayPal account by logging in and clicking “Wallet,” selecting “Add money,” and entering the gift card details. Easy peasy!
Alternatively, you can sell or exchange your PayPal gift card for cash or another gift card on websites like Cardpool, Raise, or Gift Card Granny.
Lastly, you can always use your PayPal gift card to make purchases from merchants that accept PayPal. Know how to convert an Amazon gift card to PayPal here.
Where To Withdraw Funds From Your PayPal Card?
Here are a few ways you can withdraw your funds. First, you can use your PayPal card at any ATM that accepts Mastercard.
Remember that fees might be associated with using an out-of-network ATM, so be mindful. Next, you can transfer the funds to your linked bank account through your PayPal account.
Click on “Transfer to your bank,” select the amount and bank account, and the funds will be transferred within 1-3 business days. But how can you use a Forever 21 gift card online?
How To Use A Gift Card You Bought On PayPal Gifts?
To utilize a gift card you’ve acquired through PayPal Gifts, begin by checking the email containing the vital gift card details.
You’ll find a unique code for your digital gift card, which can be redeemed at the retailer’s website or physical store.
When you’re ready to shop, visit the retailer’s site, and add your chosen items to your shopping cart.
At checkout, locate the “Gift Card” or “Promo Code” section and input the code from your email. It will subtract the gift card amount from your order total.
When shopping at a physical store, show the digital gift card code to the cashier when you’re ready to pay.
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FAQs
Why am I unable to transfer PayPal funds to my bank account?
You may be unable to transfer PayPal funds to your bank account due to unverified account status; there may be limitations or insufficient funds in your PayPal balance.
Additionally, technical issues or temporary holds on your account may prevent the transfer. But how to redeem your Facebook gift card?
How long will it take for funds to be sent from PayPal to a bank account?
It usually takes one business day for the funds to be transferred from a PayPal account to a bank account.
What is the fee for transferring money from PayPal to a bank account?
The cost to transfer money from PayPal to a bank account is free, but it may take 1-3 business days for the transfer to complete.
What cards are accepted by PayPal for quick transfers?
PayPal accepts major credit and debit cards such as Visa, Mastercard, and American Express. But how to get eBay gift cards for free?
How much money can you keep in your PayPal account?
A PayPal account can only hold a maximum of $5,000 in funds at any given moment.
For security reasons, PayPal does not recommend keeping large amounts of money [2] in an account for extended periods.
What is PayPal’s highest limit?
PayPal’s highest limit for personal accounts is $10,000 per transaction, with a maximum of $60,000 in six months.
Which is preferable, PayPal or Venmo?
PayPal is generally considered the more secure of the two payment options, as it offers additional protection for buyers.
Venmo is faster and more convenient for both parties but comes with a different level of security than PayPal.
Final Words
So there you have it – with just a few easy steps, you’re now an expert in redeeming PayPal gift cards.
With this newfound knowledge, why not put it to use right away and cash in on the value of your PayPal gift card?
References:
- https://www.businessinsider.com/personal-finance/how-to-choose-a-bank
- https://www.forbes.com/advisor/banking/ways-your-bank-can-help-you-manage-your-money/
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