Table of Contents
- How Steam Wallet Works?
- Can You Withdraw Money From Steam?
- How to Transfer Steam Money to PayPal?
- Why Steam is Against Withdrawing Money?
- Final Words: How To Cash Out Steam Wallet
Steam is a gamer’s best friend when it comes to purchasing and playing games. Thanks to it you can also interact with an online Community of over 120 million players.
Another incredible feature is the Steam Wallet. It allows you to use your own money to top up your Steam Wallet funds. You can spend that money on the platform as you wish.
But most players with a Steam account already know this. The main questions we need an answer to are:
- How to cash out Steam Wallet?
- Can you transfer Steam money to a bank account?
If you want to know the answer, keep reading.
How Steam Wallet Works?
The Steam Wallet, or your Steam funds, allows you to purchase anything that is available for purchase on the Steam community market.
In turn, this begs the question, how do you fill up your Steam wallet funds? Well, there are two main ways to do this.
The first way lets you use any major payment method to transfer real money to your Steam wallet and convert it to Steam money. This includes credit cards, PayPal, and other methods that will be displayed when you try to deposit money into your Steam wallet.
The second method involves someone purchasing a Steam gift card that’s known as a Steam Wallet code. You can redeem many of these Steam Wallet codes and instantly use them on the Steam store as store credit.
Can You Withdraw Money From Steam?
Technically, you cannot withdraw money from your Steam Wallet balance directly to your bank account or PayPal account. Steam doesn’t allow users to convert Steam money to real money.
In addition, Steam funds are also non-refundable. It means you won’t be getting your money back once you decide to add funds to your Steam wallet. Sadly, according to Steam’s terms, the only way you can use your Steam Wallet money is on the Steam community market.
However, there is still a way to cash out Steam Wallet without going against Steam’s terms. It’s called buying, selling, and trading skins.
How to Transfer Steam Money to PayPal?
Currently, the only way to transfer money from your Steam wallet to PayPal is to purchase skins on the Steam community market and sell them on alternative third-party sites. This way, not only will you convert your money from Steam into real money, but you can also make a profit.
This is an easy way to transfer Steam money to PayPal or even to your bank account and here’s how to do it.
Step 1: Use your Steam store credit to buy skins
The first step is to open up the Steam community market and purchase skins that are easy to sell. You don’t need to think about making a profit if your only goal is to convert your Steam Wallet to cash quickly.
After you’ve bought enough high-demand skins with your funds, you can move on to step two.
Pro Tip: Your best chance for a quick turnaround is to buy and sell CSGO skins, as they are highly popular and have a lot of demand.
Step 2: Sell your skins on a third-party site
Next, you have to learn how to cash out the CSGO skins you just bought.
All you have to do is go to SkinCashier, a popular website where you can sell CS:GO skins for real money! The reason you need to use a popular site like this is that it is very easy to sell your skins. You won’t need to wait for long and you can rest assured that you will not be scammed.
All you need to set everything up on these third-party sites is:
- your Steam account,
- your Steam Trade URL,
- and you’re set.
You can then instantly connect your Steam inventory and list the skins you want to sell.
Step 3: Transfer Your Money to PayPal
Once you’ve filled up your skin wallet on SkinCashier with real money, the final step is to transfer it to PayPal and withdraw it in cash straight from there. Additionally, you can also keep your money inside PayPal for easy online purchases in the future.
If you don’t prefer using PayPal to withdraw money, you can also select plenty of other options, including Payoneer, Skrill, Bitcoin, Wire transfers, and more. Your withdrawal method options will depend on the site you’re using.
Why Steam is Against Withdrawing Money?
The main reason why it is not allowed to withdraw money from Steam is the risk of money laundering. With this rule, Steam makes sure to prevent scams and other illegal activities. In such a way they want to be sure to quickly catch on if it were possible to withdraw Steam money.
Read Also: How to Get Free CS GO Skins?
Final Words: How To Cash Out Steam Wallet
At the end of the day, it’s probably for the best that we can’t transfer Steam money straight to our banks or PayPal accounts. This ensures a much safer community and also keeps Steam alive as well.
Our suggestion is to plan which games you want to buy on Steam. Then deposit just enough money. As the result, you would not end up with larger sums of money sitting in your Steam account.