Can you buy something with a Visa Gift Card and return it for cash? This is a common question among Visa Gift Card users. In this article, I’ll answer this question and describe the Visa Gift Card policies.
Can you buy something with a gift card and return it for cash? You cannot buy an item with a Visa Gift Card and then return that item for cash. If you have a Visa Prepaid Card, you can get your cash back from a merchant for a returned item.
It’s important to clarify that there is a difference between a Visa Gift Card and a Visa Prepaid Card (Visa reloadable card). The two cards look similar and have the same Visa logo, but they are different.
You can use a Visa Prepaid Card to withdraw money from an ATM or get cash back from merchants. On the other hand, Visa Gift Cards don’t have this feature. To be sure, you should also read the terms and conditions at the back of your card.
Read on to learn more about Visa Gift Cards including how they work and their policies.
Can You Buy Something with a Visa Gift Card and Return It for Cash?
You can buy something with your Visa Gift Card, but you cannot return what you bought for cash.
A Visa Gift Card is a type of prepaid card accepted almost everywhere. These cards are loaded with a certain amount of funds that you can use to buy things, as long as they have a remaining balance. You can choose the amount of your Visa Gift Card from $20 to $500.
Every time you buy something, an amount will be deducted from your Visa Gift Card. When your balance is consumed, you can then cut the card in two and discard it. It’s not reloadable like the other type of Visa card. However, before using the card, you have to activate it and obtain the PIN.
Merchants also abide by the guidelines of the Visa Gift Card. If you use your Visa Gift Card to buy something but want to return the item later, merchants may credit the amount back to your gift card. You cannot get the returned money back as cash.
How Can You Get Cash from Your Visa Gift Card?
Although you can pay your bills or purchase items using your Visa Gift Card, you cannot get cash from it. You can get money back if you have the Visa Prepaid Card (Visa reloadable card).
Can you buy something with a Visa Gift Card and return it for cash at Walmart? No, you also cannot use a Visa Gift Card to buy things and then return them for cash at Walmart.
Visa Gift Card Policies and Tips
1. Visa Gift Cards Are Not Credit Cards
Your Visa Gift Card is not a credit card, so you can only spend the amount of money loaded on the card. Once you’ve spent the balance on the card, you can no longer use it.
2. Report Stolen or Lost Cards Immediately
Report immediately stolen or lost Visa Gift Cards, as another person may be able to use it. You need the gift card account number to report your card; so, you have to write down the number and keep it in a secure place.
In cases of stolen gift cards, report it to your branch office or call 1-866-902-6082 to cancel the card or replace it at a $10 fee.
3. You Cannot Buy More Than What Your Gift Card Can Afford
If you want to buy an item beyond your gift card‘s value, you will have to inform the cashier about it. Inform them of the amount on your card and say that you will pay the balance in cash, check, or debit card.
4. You Cannot Use a Visa Gift Card at an ATM
Your card is not a credit card, so you cannot use it at an ATM, even though you may still have some amount in it. You can only use it to pay your bills or buy items.
5. You Cannot Stop Payment to a Visa Gift Card
Once you have debited your item, you can no longer stop payment as the cost has already been deducted. You can only return the item and request the seller to credit the amount back to your card.
6. You Cannot Reload a Gift Card After Spending Its Value
After spending the entire amount on the Visa Gift Card, you cannot reload it. You have to throw it away. But don’t worry, you can purchase one for $3.95 per card.
7. Report Immediately Transaction Errors
You can do this by calling 886.902.6082 immediately and report the details of the errors. The line is 24/7, so you can call at your most convenient time.
8. Pressing the “Debit” When You Pay Is Easier
Instead of pressing “Credit” on the terminal when you pay, opt for “Debit”. It’s a quicker way to pay, as you can input your PIN, and that’s it. If you press “Credit”, you would have to sign a sales receipt.
9. You Cannot Use Your Gift Card for Recurring Transactions
Recurring transactions include those in gambling establishments, cash advances, and ATM withdrawals. You have to use your Visa reloadable card for these transactions.
Benefits of a Visa Gift Card
1. You Don’t Need to Carry Cash
If you don’t want to carry cash, you can use your Visa Gift Card if you plan to purchase an item at a fixed price. This method is also best when you’re sending someone to purchase it for you. It’s safer and more convenient too.
2. You Can Control How You Spend
The fund limit of the card would help control your spending spree. You only get to spend the card’s value and nothing more.
3. You Can Give It as a Gift
You can also give Visa Gift Cards as a gift to your friends and family members. This gift is best when you’re not sure what to buy as a birthday or Christmas present.
We’ve answered the question: “Can you buy something with a Visa Gift Card and return it for cash?” Now, let’s look at the Visa Prepaid Card and its differences from the Visa Gift Card.
What Is a Visa Prepaid Card?
You can use a Visa Prepaid Card to buy items, pay online, and withdraw cash online or offline. Moreover, you can withdraw cash from an ATM using Visa Prepaid Cards. You can’t do this with Visa Gift Cards.
Furthermore, it’s reloadable, so you can quickly fund the card through your bank or other authorized outlets. You can also return any items you bought and get a cash refund.
What’s the difference between a prepaid card and a debit card? A prepaid card is preloaded with funds, while a debit card is linked to your checking or bank account. With the debit card, you would be spending money from your bank account or checking account.
Prepaid or Debit Cards Tips
1. Don’t Spend More Than the Amount on Your Card
Unless you reload your prepaid card and have sufficient current funds in your bank account, don’t spend more than your card’s amount.
2. Debit Cards Offer More Protection Than Prepaid Cards
Visa debit cards offer a zero liability policy and more security when your card is lost, stolen, or in cases of unauthorized use. With the zero liability policy, you won’t be held liable for unauthorized transactions made with your card. However, you’ll have to prove that you didn’t authorize such transactions.
3. Prepaid Cards Can Help Control Impulsive Buying
If you’re an impulsive buyer, a prepaid card is better for you because you cannot spend more than the card’s preloaded amount. You can reload it, but you may consider it inconvenient and would not do so. Thus, your buying impulse is somewhat controlled.
4. Debit Cards Can Provide Easy Access to Your Bank Account
Since your debit card is directly linked to your bank account, you may spend more than what you intended to. Thus, beware of this disadvantage.
There are many benefits of a Visa Gift Card, and there are benefits of a Visa Prepaid Card. Below are the various benefits of using a Visa Prepaid Card
Benefits of a Prepaid or Debit Card
1. You Can Withdraw Cash from an ATM
With a Visa prepaid or debit card, you can withdraw cash at any ATM. Provided that the cash you withdraw is within the funds preloaded on your prepaid card and within the amount currently in your bank account for your debit card.
2. You Can Get a Cash Refund on Returned Items
If you have purchased an item and returned it, you can get a cash refund. However, the item should have no damage and not open. This issue would also depend on the discretion of the merchant.
3. There In No Interest When Using the Card
There is no accrued interest as you’re using your own money to pay and buy. You may have to pay minimal charges for the card, but there is no recurring interest. Well, your money in the bank could earn interest, but this would also depend on your maintaining balance.
4. You Can Use It in Almost All Transactions
Whether you want to pay bills, purchase an item, withdraw cash, or transfer funds, Visa debit cards are ideal for these transactions. It’s also safer to carry a plastic card around than real cash. Even if you lost the card, you can quickly replace it or report it as lost.
5. It Is Convenient
Visa Prepaid Cards are small and lightweight. You can easily slide them into your wallet or bag, and they stay safe until you use them. Additionally, you’re protected as a consumer and customer when using the card.
Conclusion – Can You Buy Something with a Gift Card and Return It for Cash?
Can you buy something with a gift card and return it for cash? Or specifically, can you buy something with a Visa Gift Card and return it for cash? No, you cannot buy an item and return it for cash if you’re using a Visa Gift Card. That’s one disadvantage of a Visa Gift Card.
If you have a Visa Prepaid Card, you can get your cash back from a merchant for a returned item.
A Visa Prepaid Card is preloaded too, but you can reload it after spending its amount. For the Visa debit card, you can spend for as long as you have sufficient money in your bank account. This card is directly linked to your bank account.
Remember that you can only spend the amount indicated on your Visa Gift Card. After spending it, you cannot reload the card. You should cut the gift card into two and discard it.