Yes, the Glede gift card cannot be used for money transfers, financial transactions (such as transfers to your own bank account or to Revolut) or gambling.
You can therefore not withdraw cash with the Glede gift card. This is due to tax rules, as you can receive gift cards tax-free up to certain amounts if the gift card cannot be exchanged for cash.
How do we know if it is a financial transaction?
This is automatically checked based on the store's industry code registered with Mastercard. Here you will find a complete list of industry codes that are not allowed.
6011 - Member Financial Institution - Automated Cash Disbursements
6050 - Quasi Cash-Member Financial Institution
6051 - Quasi Cash-Merchant
6211 - Securities-Brokers/Dealers
6300 - Insurance Sales, Underwriting, and Premiums
6381 - Insurance Premiums
6399 - Insurance, Not Elsewhere Classified
6513 - Real Estate Agents and Managers-Rentals
6529 - Remote Stored Value Load - Financial Institution
6530 - Remote Stored Value Load - Merchant
6531 - Payment Service Provider-Merchant
6532 - Payment Transaction-Financial Institute
6533 - Payment Transaction-Merchant
6534 - Money Transfer-Member Financial Institution
6535 - Value Purchase-Financial Institute
6536 - MoneySend Intracountry
6537 - MoneySend Intercountry
6538 - MoneySend Funding
6540 - POI Funding Transactions (Excluding MoneySend)
6611 - Overpayment on Credit Card
6760 - Savings Bonds
4829 - Money transfer
5967 - Inbound telemarketing merchants