Guests are not able to use Banked Rewards to purchase Gift Cards. Since gift cards are processed through a separate Gift Card provider which requires a valid credit or debit card to purchase, there is not a way to pay for them using Banked Rewards, which only go through the Point of Sale and Punchh.
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This additional disclaimer will be removed upon formal review of this article. The standard Punchh Inc. KB Disclaimer still applies, and can be found at: https://support.punchh.com/hc/en-us/articles/360040100273-Punchh-Inc-Knowledge-Base-Disclaimer