Thursday, January 21, 2016

Converting MasterCard/Visa prepaid/gift cards into cash (Canada)

Recently I was given a Visa and MasterCard prepaid card that was loaded with a fixed value; I prefer to use my credit cards, so I found a neat method to convert them back into a real currency.

It turns out the Royal Canadian Mint actually sells collector coins at face value with free shipping and no tax. They come in $20, $25 (oddly listed in the $20 group), $50, $100 and $200. You can only use one payment method per purchase, so this won't work if you have a card that's under $20.

While stores will likely not accept them, you can go to any bank to deposit the coins.

To confirm that the transaction actually went through, I checked the balances on the cards. Sure enough, both the MasterCard and Visa were now $0.

1 comment:

  1. MyVanilla Visa cards are prepaid cards that you can use at ATMs and stores that accept Visa. They're similar to debit cards that come with checking accounts from banks. vanilla gift card activation