A guide to gifting money to children this Christmas

Thinking about putting £20 in a Christmas card and dropping it in the post box? Think again! NatWest Rooster Money has brought Christmas giving right up-to-date

You might not be able to predict and procure this Christmas’s hottest new toy, but you can rely on one, perennial present choice: cash. Gifting money to children during the Christmas season is a great way to give them a little something extra, either to put towards a gift they may have missed off their list, or to put towards saving for a bigger purchase. Money gifts can help when it comes to teaching children about money.

The only problem is, how do you get the money to them in time for Christmas Day? Postal services such as the Royal Mail don’t prohibit posting cash, and some people like giving money to children this way, though the Royal Mail does recommend using one of their special delivery services, which cost a bit more than posting a normal letter and may require signature.

Fortunately, things are a lot easier and less costly, via Rooster Money. If your son, daughter, niece, nephew, grandchildren, godchildren or, indeed, any young gift recipient on your Christmas list with a Rooster Card, you can put Christmas cash into their account simply and easily. Here’s how…

🏦 First, get the account number and sort code

With the Rooster Card, every child’s account is linked to a Parent Account, and every Parent Account has a sort code and an account number, just like a bank. Those with access to the Parent Account can find the sort code and account number by tapping on the Parent Account at the top of the app’s home screen.

You can also copy the account number and sort code to your device’s clipboard by tapping on the button to the right of the numbers. You can then share it with contacts via text, email or other messaging applications, such as WhatsApp.

Once you’ve got the account number and sort code, giving someone money is easy. Simply move the money over from your bank account. Anyone can transfer money into a Parent Account, and most providers allow you to add a message, so the Parent Account holder knows what the money is for.

👫 Then, get the Parent Account holder to move the money into the child’s account

This can be done on Christmas morning, or beforehand. Parent Account holders can choose to add the money as a boost to the child’s Spend, Save or Give Pot, depending on the nature of the gift.

There’s also space for messages, which the child will see when they check the Rooster Money app. Find out more about becoming a Parent/Guardian here. Not only will you be able to transfer money directly into the children’s accounts, you’ll also be able to check balances, and create and approve goals and chores. To find out more about all the things kids can do with Rooster Money and a Rooster Card, click here

🎄 Give them an extra Christmassy boost, via IFTTT

Rooster Money works with IFTTT, the smart service that connects lots of apps together. You can use iIFTT to schedule a Christmas boost to be delivered as your child’s gift money on the big day, automatically, so you don’t have to wake up as early and fiddle with your phone. Find out more here.

Once you’ve mastered that, here a few other things you might want to think about…

🎁 Giving money to grandchildren at Christmas

Kids almost always appreciate a generous grandparent, though generous grandmas and grandpas may want to check in with parents about the amount you’re giving, before you shoot the cash over. Children have a strong sense of fairness, and parents or guardians may want to make sure the amount given isn’t out-of-line with what other children are receiving from other sources.

Giving money to sons and daughters at Christmas

This is perhaps more straightforward, as most parents on Rooster Money are quite involved with their kids’ finances. However, if you do set a Christmas budget, be careful to not offer it all as a cash gift. You’ll probably want to keep some money back for small gifts on the day, to keep Christmas feeling special.

Giving money to family members at Christmas

Brothers and sisters giving money to one another at Christmas is a little more tricky. It might be more fun to encourage them to buy a gift. However, if they are keen on giving money as a gift, you can transfer money from their own account back into the parent account, then you transfer the money as a gift, over to their brother or sister, fairly easily.

Looking for more Christmas tips?

Why not check out our review of the most popular gifts for Rooster users; our guide to saving for Christmas; and how to gift a Rooster Card this Christmas.

You can also read top tips to teach kids the value of money, some fun educational gift ideas; and find out about gifts to build financial literacy in kids.