Transfer EFTPOS Gift Card Balance into Cash/Bank Account

I know this has been asked before a while ago, but the OP didn't really receive an answer. I've got a $50 EFTPOS gift card that I need to transfer into cash / into a bank account. I know it is against the T&Cs, but is there any way that I can do this? I was thinking that I might need to go into Coles/Woolworths and buy a VISA gift card so that I can withdraw the balance off that, though I will lose about $6 off that. Any other tips? Thanks



    You can buy something at a store like officeworks, part pay with cash at a store, then when it comes to refund, they just put it all onto cash. Done.

    EDIT: make sure it's mostly paid with cash, and the eftpos card is only a smaller portion of it.


    Why do you need to transfer it to bank account?

    • +1 vote

      Money laundering.


        Lol. How many $50 card does OP have?


          OP need not tell you, only need to know how to cash in one.


            @Neoika: Well. Depends. If OP has one card, then gumtree/ozb can convert it into cash easy. If OP has 100,000 of them, then we should come up with a plan. Haha.


    Not tried - if you can use the EFTPOS card at woolies, wonder if you can cash out at the tilt? At woolies, you can only buy visa card by cash anyways.

    • +1 vote

      Unlikely, as EFTPOS gift cards usually have a “no cash out at ATMs or eftpos terminals” restriction.


      Tried this today. Doesn't work.

  • +7 votes

    I know it is against the T&Cs

    There is no direct way. The only way is to buy something and return it, doing the refund onto a different card trick.

    Why not just GASP use the EFTPOS giftcard to buy something you need for $50 that you had been going to buy anyhow?

  • +3 votes

    I was thinking that I might need to go into Coles/Woolworths and buy


    Better to buy this food at Coles because their gift cards are harder to source at a discount.

  • +2 votes

    Do you not buy groceries, clothes, petrol etc?
    $50 isn't a huge amount.

    • +1 vote

      OP certianly has got more than one card, maybe a staggering number. Hardly worth the efforts to do just one $50.

  • +3 votes

    Rumor has it that these cards have money in them and you can extract it by very carefully cutting the card open.

    • +2 votes

      soften in the oven before you cut them though!

  • +1 vote

    The first question is why do you want to do this?

    Do you have a gift card that you want to get the value as cash?

    Do you have some scheme that you're dreaming up to earn credit card points without actually spending anything?

    What's the use case?

    • +3 votes

      It's just the same question that gets asked about twice a year.
      He's had a brainwave to purchase pre-paid cards with credit card, get cash back and collect free CC points (nobody else has thought of this, shhhh).
      You will need to move to the USA to do this, but even they are cracking down on the money orders.


        everyone has crunched the numbers….. But there is no magic way to turn these purchases back into cash ;)

        • +3 votes

          NEWMAN: (peering at bottle label) What is this 'MI, ten cents'?

          KRAMER: That's Michigan. In Michigan you get ten cents.

          NEWMAN: Ten cents!?

          KRAMER: Yeah.

          NEWMAN: Wait a minute. You mean you get five cents here, and ten cents there. You could round up bottles here and run 'em out to Michigan for the difference.

          KRAMER: No, it doesn't work.

          NEWMAN: What d'you mean it doesn't work? You get enough bottles together…

          KRAMER: Yeah, you overload your inventory and you blow your margins on gasoline. Trust me, it doesn't work.

          JERRY: (re-entering) Hey, you're not talking that Michigan deposit bottle scam again, are you?

          KRAMER: No, no, I'm off that.

          NEWMAN: You tried it?

          KRAMER: Oh yeah. Every which way. Couldn't crunch the numbers. It drove me crazy.


    Every time I get an EFTPOS or cash loaded gift card, I use my Square payment terminal. Sure, I get slugged a fee, but its only something like 1.9%. Put it through as a "donation".


    Sell it.
    Cash out or any transactions deemed a cash transaction on EFTPOS/Visa/MasterCard giftcards aren't allowed.


    Use the EFTPOS card to paid your bills. I do that most time. EFTPOS card to bank account is not allow anywhere now I think

  • +1 vote

    are you in nsw? if so, do the opal hack


    How about the Casino? Used to be able to "purchase" chips with credit card (and get points), then exchange for cash and go immediately pay off your credit card to negate the interest (used to be considered a purchase, maybe "cash advance" now?). I've not kept across regulations in the last 20 years, but don't see why you couldn't get chips with eftpos card(?)
    Of course, if Op has >$1000 in cards they may ask…

  • +4 votes

    I know this was a couple of weeks ago but I'm in the same boat and tried a few things today. I have a $5k EFTPOS card that was a work reward. I want to buy something online and it needs to be either through paypal or international bank transfer. We also want to buy a trampoline for the kids worth $2,200 with the remainder but being in Melbourne everything is online only which of course doesn't work with EFTPOS.

    I decided to try and change the funds to VISA or MasterCard and went to a few places.

    1) Coles - All cards maxed out at $100 and they charged $5.95 per card. Huge waste of money.

    2) Woolworths. Once location had VISA giftcards up to $500. I tried to buy 5 of those and the staff freaked out and said it was "fraud." They let me buy 1 with a fee of $7.95. I then went to 5 other Woolworths and they didn't have that same card. Only cards that maxed out at $100 with the $5.95 fee.

    3) Australia Post - They have 2 types of MasterCards. One is a gift card maxing out at $500 and the other is a similar card but you can reload it and it goes up to $2,500. First location they flat out refused to sell me a card. Said you're not allowed to buy a gift card with a gift card. Later went to 2 other post offices and they happily sold me 1 $500 card each with a $5.95 fee and I paid directly with the EFTPOS card. No problem.

    Ended up with the 3 $500 cards today and unfortunately I can't add the funds to Transferwise or Qantas Money. I will try tomorrow to just make several $500 payments through PayPal to buy my OS purchase.

    I can't think of any other way to convert the funds but this got me part of the way there.

    Thanks to all the useful answers above. Unfortunately every thread on this subject is full of idiots just asking why and being condescending without actually offering any help.

    Good luck.

  • +1 vote

    It is not easy to convert it directly but I just used it to pay for all our utilities and bills in Auspost (Post BillPay)


    If you have PayPal and and are selling an item on ebay or anywere is accepted u would run into some fees doing this but if you have enough gift cards for some reason I think it may work know the seller ie yourself pay using gift card there u go transfer from Paypal to bank converted