Sony is offering cash into your bank account in exchange for your PS5
We knew RAMageddon was getting bad, but we didn't realize it was getting this bad. 2026 has been a bumper one for video games, with massive releases like Resident Evil: Requiem and 007 First Light soaring to the top of the charts.
There's plenty more to come, and alongside Nintendo's The Legend of Zelda: Ocarina of Time Remake, GTA VI is set to blow the competition out of the water.
We're not sure the gaming world is ready for quite how big GTA VI is going to be, and while it's projected to make up to $5 billion in its first week alone, that's assuming that people will actually be able to play.
It's no secret that a boom in AI has led to chip shortages, which in turn has led to soaring console prices and hardware shortages across the board. That's looking to be even more of a problem as we gear up for GTA VI's November 19 release.
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Now, Sony will reportedly offer PS5 owners a cash injection right into their bank account if they're willing to trade in their consoles.
What is Sony's PS5 trade-in deal?
Over on ResetEra (via Push Square), PlayStation owners are sharing apparent messages where they're being offered $400 to hand over their unwanted PS5s. Dated November 2, the message explains how you can get $400 into your bank account via a new partnership between Sony and Back Market. Conveninent that it comes just weeks ahead of GTA VI finally arriving on the scene.
The refurbished tech company says it's better for the planet, promising a 'hassle-free' service for giving up your PS5 and adding: "If you're ready to sell your console, you could soon receive a cash payment into your nominated bank account, Find out how much you could get today."
Given that the PS5 was released for $499.99 back in 2020 (the digital-only version was $399.99), getting almost that back again seems like quite the deal…or does it?
If you've got an Xbox gathering dust, fear not because there's a similar deal. Microsoft recently sent out emails promoting a similar partnership with Best Buy and offering to buy back your Xbox Series X or Series S for up to $375.
There was some backlash that called Best Buy's offer a 'lowball', whereas Sony's deal looks a little more tempting.
Obviously, that $400 depends on the condition of your PS5, while the fine print also states the trade-in console has to come with two PS5 controllers. Other stipulations mention console model, storage, and condition, meaning that the promised $400 could soon dwindle.
PS5 console scalping fears continue
We previously discussed how GameStop was accused of 'scalping' PS5 Pros, with a pre-owned version of the console being listed for $1,399. This is a whopping $500 above the official PS Store's $899, but as PS5 Pros are out of stock there, desperation to get the souped-up console ahead of GTA VI's release has led to desperation.
Even though Sony came under fire for jacking up the price of a PS5 Pro from its $699 launch price, you're still clambering over each other to get one anywhere near $899. Sony's Back Market offer has only reiterated how demand for PS5s is poised to go through the roof.
Replying on ResetEra, one disgruntled gamer wrote: "Lots of hw sitting at homes not being used. This is prompting those folks to get money for something collecting dust.
“Why Sony is doing this? Because you'll sell it to a more engaged user who will spend $100 on GTA 6 and ps plus. Same thing Xbox is doing. Prying perfectly usable hardware from corpses is a new meta when hw is scarce lol."
Another added: "I could go on marketplace and get that or more for it in cash right now. Why would I settle for Sony bucks? Also, I suspect 'up to' is doing some heavy lifting here."
A third looked even further ahead as they concluded: "How do these companies plan to sell PS6s and Helixs when they are begging people to give them their PS5s and XSX/S because they have no new consoles to sell???"
Still, while many of these services offer credit, cash-strapped former gamers might want to consider checking out what they could get for their PS5. At this rate, it might be better to list your unwanted console on one of the many action sites or second-hand platforms if you're that bothered about a few more extra dollars.
