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Your child’s birthday is coming up. There are already plenty of toys in the house, and you’d love for gifts to go toward something else.
Maybe college. Maybe swimming lessons. Maybe their first shares of stock.
Or you’re planning a baby shower. You’d like guests to be able to give toward the baby’s future, as well as the things you need now.
You could share your Venmo details or ask relatives to send money through Zelle.
So why create a Greatest Gift registry?
Venmo and Zelle can work well when someone wants to send you money. Greatest Gift gives family and friends a place to give toward your child’s goals, with ways to keep giving after the birthday or baby shower.
One birthday gift can help you get started. Birthday and holiday gifts can help you keep adding to your child’s savings. So can a grandparent’s monthly gift or a family match. That is how GG helps families build momentum.
The right choice depends on how you want to collect gifts, what the money is for and what you’re comfortable paying.
Grandma wants to send $50 for a birthday. Maybe it’s for your child to spend on something they choose.
You both already use the same payment service. You know where the money will go, and you’re happy to handle any saving yourself.
A payment app may be all you need.
If you want a familiar, low-cost way to send money, that is a good option.
Asking for money as a gift can feel awkward. It helps to tell people what you’re saving for.
For example:
We’re starting a fund for Maya’s future. If you’d like to give something for her birthday, you can help with her college savings or next year’s swimming lessons.
A registry puts that request and your child’s goals on one page. You can share it through an invitation, text or email.
Our guide to creating a first birthday registry can help you get started.
Some relatives love picking out a present. Others would rather help with college savings or swimming lessons. A gifting page gives them an easy way to do that.
Grandma sends $50 for your child’s birthday through Venmo. A few days later, you use your Venmo balance to pay a friend back for dinner from last week.
You meant to save it for your child, but ended up spending it without really thinking about it.
The same thing can happen with a Zelle payment or a deposited birthday check. It lands in the account you use for bills and groceries.
Now you have to remember to put that $50 aside for your child.
With GG, Grandma’s $50 stays on your child’s gifting page until you decide where to transfer it. It’s clearly a gift for your child, separate from the money you use day to day.
You might put it toward college savings, an investment account or a trip you’re planning. If you’re deciding where to start, see our guide to saving for your child’s future.
Once you transfer gifts to your everyday checking account, you’ll still need to set them aside. GG keeps them separate while you decide what to do with them.
You might want to save some gifts for your child’s future and use others for something sooner. With GG, you can put college savings, a trip, lessons or a bigger expense on the same gifting page.
Imagine ten relatives each give $50. That is $500 before fees.
After fees, you might put some toward college, save some for later and use the rest for lessons or a family adventure.
You choose which supported account to transfer the gifts to. GG doesn’t split the money between accounts for you. Check that your account is supported and what the transfer will cost.
A birthday or baby shower can be a start. Once relatives know what you’re saving for, some may want to keep helping.
GG+ is for parents who want to be intentional about building wealth for their kids. With Monthly Gifts, a grandparent can give a little each month. With Gift Matching, a relative can offer to match what others give.
You’ll need GG+ to use these tools. Creating a gifting page and receiving one-time gifts doesn’t require a membership.
A grandparent might prefer giving $25 a month to choosing another present. Over 12 months, that adds up to $300 before fees. That can go toward college, other savings or an experience for the child.
The giver chooses how much to send and for how many months. The first gift is sent right away, with the rest sent monthly.
Future gifts can be canceled.
You can see those monthly gifts on your child’s page, along with their goals, other gifts and any matching.
A relative could offer to match birthday gifts up to $200. If other guests give $150 and the relative sends another $150 to match, that’s $300 in gifts before fees.
A guest’s $50 could become $100 toward your child’s goal. That may encourage them to chip in.
The relative offering the match needs to send the matching gift. That money comes from them, not GG.
Once you’ve collected the gifts, you decide what to do with the money.
If you’re saving for the long term, you’ll need to choose a savings or investment account and transfer the money. Our guide to investment accounts for kids explains the main options.
Your gifting page stays available, so family can come back to give for the next birthday, holiday or just because.
Venmo is free for personal payments funded by a Venmo balance, linked bank account or debit card. Sending with a linked credit card costs 3%.
Standard bank transfers are free. Instant transfers have a fee. Review Venmo’s fees.
Zelle is usually free to use through participating banks and credit unions. Check your bank’s terms. See Zelle’s current guidance.
Opening a basic GG account and creating a gifting page are free. Gifts have processing and redemption fees.
The giver can choose an optional platform contribution, including $0. GG+ is an optional membership.
GG’s published sending fees are 1% for bank payments and 3.5% for credit cards.
Transferring gifts to supported long-term savings accounts costs 0.5% plus 25¢. Transferring to a regular checking account costs 5%.
Check the fees shown when sending or transferring a gift. See GG’s fee information.
If you’re collecting gifts for a trip or lessons, factor in that higher fee for transfers to a checking account.
Choose Venmo or Zelle if you just need a familiar way to receive money. You’ll explain what it’s for, keep track of the gifts and set the money aside yourself.
Choose Greatest Gift if you want a registry for birthday or baby shower money gifts, with your child’s goals and gifts together on one page. Family can give for an occasion, give monthly or offer a match. Those gifts can help you build momentum toward the things you want for your child.
You can also use both. Share your registry with guests, and let relatives who prefer another method give separately.
Payments sent outside GG won’t appear on your child’s gifting page.
Think about what you want the gifts to help with. Then choose the way of giving that fits your family.
I love how easy it is to give a meaningful gift to the kids and tots in my life!
It means a lot to me that I can contribute to their future, and Greatest Gift makes the experience seamless and fun.
Alana S.
Our son just turned two. We created his gifting page with Greatest Gift and shared it on the birthday evite. The results were amazing! We received 12 gifts that will be going to his college fund and savings.
Love this platform.
Daniel A.
We have a 2-year-old and another baby on the way, and we love Greatest Gift’s discover section. I look forward to learning about the right financial tools to help build their future and set them up for success financially.
Hillan K.
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