Prepaid2Cash, a service that converts network-branded prepaid cards into cash, has announced the availability of both its iOS and Android apps, according to a press release.

After initial set up, the Prepaid2Cash app enables users to scan their prepaid card and receive payment via direct deposit, usually within three business days.

Prepaid2Cash said it is the first company and only app available today that offers a cash withdrawal for the prepaid gift cards that bear the logo from the big four network-branded payment networks. 

While the apps are free, Prepaid2Cash charges a 7.5 percent processing plus $1.50 for direct deposit delivery fee to acquire the cash from the card. The company claims this is the lowest cost and fastest delivery option possible for obtaining cash for a prepaid card.