Sometimes you might have a Best Buy Gift Card in your Wallet that you would like to convert into real cash and then transfer it to your bank account.
This is quite possible if you follow the right steps. How to convert a Best Buy Gift Card to Cash is a simple and straightforward step that you need to follow carefully.
Best Buy Gift Cards are gift cards preloaded with money that can only be used to purchase commodities and services at the Best Buy company in both their online and physical retail stores. See How to check Best Buy gift card balance.
It’s not enough that you can buy Best Buy gift cards online, you can also buy an e-gift card online and have it e-mailed to anyone. The Best Buy gift comes as physical gift cards or e-gift cards and it does not expire.
The gift cards come in amounts between $5 and $500 and they have no purchase fee or expiration date. You can use your Best Buy gift card to shop online (on the official Best Buy website) or in-store in any retail location in the U.S. Alternatively, you can sell your Best Buy gift card for cash.
Read this article for more explanation on how to convert Best Buy Gift Card to Cash.
How To Convert Your Best Buy Gift Card to Cash
Did a Best Buy gift card balance check uncover some funds? If you don’t know how to use the remaining balance on your card, there are some unofficial ways to exchange it for money:
- Buy items at Best Buy and return them for cash
- Purchase items at Best Buy and sell them
- List your gift card on an eMarketplace
- Use Reddit
- Ask a friend or family member to buy it from you
- Use a reseller website to sell the card
- Locate a Coinstar exchange kiosk
- Buy Items at Best Buy and Return Them for Cash
You can use your gift card to buy products online or in-store and return them later for the cash value. Try not to overdo it, though! Buying and returning too many products may cause suspicion.
Purchase Items at Best Buy and Sell Them
While it can be risky, reselling items can bring you more money than expected. Use your gift card to buy items at Best Buy and sell them online or to your friends and acquaintances.
List Your Gift Card on an eMarketplace
By listing your Best Buy gift card on an eMarketplace, you can get more money than it’s worth. Craigslist and eBay are the best online options, but you can also list your card on the Facebook marketplace.
There is a gift card exchange subreddit where you can list your Best Buy card and exchange it for money or another gift card.
While on the website, you can also check other people’s experiences and recommendations regarding gift cards from Best Buy and other places. See How to Convert American Express Gift Card to Cash.
Ask a Friend or Family Member To Buy It From You
You may not need anything from Best Buy, but there must be someone who does. Ask your friends or family members if they want to buy the gift card from you or use it and repay you in cash.
Use a Reseller Website To Sell the Card
Many websites specialize in gift card resale. Even though Best Buy does not allow it officially, you can sell your gift card on one of those websites. Keep in mind that there are certain risks, and do thorough research to avoid getting scammed.
Locate a Coinstar Exchange Kiosk
One of the safest ways to exchange your gift card for cash is to use an exchange kiosk, and Coinstar has a lot of them throughout the states. Note that this method works only if you have a physical gift card.
Best Ways to Sell Best Buy Gift Cards
You can exchange or convert your Best Buy gift card balance for cash in several ways. These include listing your Best Buy Gift Card on an eMarketplace, sell at a gift exchange kiosk, exchange for PayPal balance, etc. Some of the way you can sell your Best Buy gift cards include the following:
You can sell Best Buy gift cards using BuyBackWorld. It is an online platform, which means all sales of Best Buy gift cards are done online and instantly.
After your sale of the Best Buy Gift card is successful, you will get paid in cash with no fees within 2 business days.
You can also sell gift cards from other popular brands such as Barnes & Noble Gift Card, Shell Gas Gift Card, Tunes Gift Cards, Starbucks Gift Card, Apple Gift Card, and Red Lobster Gift Card. You can earn up to 50% off your purchases.
EJ Gift Cards
Ej Gift Cards is a marketplace where consumers can sell Best Buy gift cards. Apart from Best Buy, you can also sell gift cards from the most popular brands in the US such as Target, Walmart, Starbucks, Nordstrom, Home Depot, Massage Envy, Victoria Secret and Kohls.
CardCash usually gives up to 92% of the gift card’s value in cash but the exact amount you get back depends on the brand of the card.
The platform buys gift cards from a wide selection of retailers. With CardCash, you can also decide to exchange your Best Buy Gift Card for a different card.
Doing this usually makes you retain more of the gift card’s value (usually up to 14% more on your card profitability).
Gift Card Granny
Gift Card Granny is one of the market leaders in trading gift cards. It gives you 3 different options to sell your Best Buy Gift Cards:
Find A Location: This option allows you to sell your gift card for cash or trade it in for a different card at a gift card exchange location near you. You will be given an offer on the spot and if you accept it, you are paid instantly.
Sell It Now: This option allows you to sell your Best Buy Gift Card quickly. Gift Card Granny will list the top gift card websites that will accept your gift card. You will get paid via PayPal, check, or direct deposit.
Name Your Price: If you want to earn more for your gift card, select this option. All you are required to do is enter the card brand and the balance on the site and you’ll receive your money as soon as your card arrives at the Granny HQ.
Gift Card Outlets
Gift Card Outlets is a marketplace that allows you to buy or sell gift cards, gift vouchers, and electronic and physical gift cards online from popular brands in the USA including Best Buy.
You can sell Best Buy gift cards with an expiration date as long as the gift card has an expiration date of at least 6 months in the future and you mention this when making an offer.
Once you successfully submit your offer, Gift Card Outlets will respond within 2-3 business days with an acceptance, rejection, or counteroffer notice to the email address provided in the offer form.
The marketplace tries to verify and process your payment at the earliest after receiving all the requisite details and the gift card.
Payments are made via check within 10 working days. In the case of bulk sellers, payments can be made via ACH. At times, Gift Card Outlets may have to withhold your payment in order to validate the card.
Generally, the marketplace pays between 60%-90% of the value of the gift card. Once your gift card is accepted, you will know exactly how much payment to expect for your gift card.
Coingate is an electronic gift card store that offers Best Buy gift cards sold for crypto. You can buy Best Buy gift cards with Bitcoin and other cryptocurrencies using promo discounts.
The platform allows you to spend Bitcoin and other virtual currencies to purchase e-gift cards from Best Buy and other stores such as Amazon, eBay, and more.
Coingate offers lower network fees because you can use the Lightning Network option for Bitcoin transactions when buying gift cards.
Countries that Coingate supports are the US, Canada, France, Finland, United Kingdom, Spain, Italy, Liechtenstein, Germany, Austria, Belgium, Ireland, Luxembourg, Switzerland, Russian Federation, Portugal, Netherlands, and India.
Gameflip is among the safest gift card exchange platforms where customers are protected from fraud. To sell your Best Buy Gift Card for cash on Gameflip, you will first need to create a Gameflip profile and make a listing of your gift card using their mobile app.
You have full control over the price, though it’s recommended that you list your card at a discount of 2% to 15% of its value. Once the card sells, Gameflip transfers your money into your Gameflip wallet which you can withdraw using Payoneer, Skrill, Bitcoin, or Wise, formerly TransferWise.
How to convert your Best Buy gift card balance to Paypal
To convert or exchange Best Buy gift cards to PayPal;
- go to the company’s website
- enter the merchant’s name and the gift card balance then click “Get Offer”.
- If any offer is available, you will see the amount of PayPal balance you can exchange with your gift card.
- Click “Continue” if you agree to the exchange offer
- Proceed by entering your Best Buy gift card number and PIN, and click “Connect with PayPal”.
- log in to your PayPal account and fill in the details required and click “Get my PayPal balance”.
The funds will be reflected in your PayPal account in one business day. You can then use this balance to transfer your bank account.
I hope you have found this article helpful. In case you have any other questions about How to convert a Best Buy Gift Card to Cash, kindly make use of the comment section below.