Graduation parties are approaching – switch bills for a more modern financial gift

Year after year, money is the preferred gift for young people celebrating their graduation. The range of financial gift options available today is broad, and instead of bills you could consider giving money in a more modern form.

Transfer money directly to the receiver’s account

The fastest way of giving money as a gift is simply by means of a phone number on OP-mobile or with the Siirto payment on Pivo. You can congratulate the graduate in the transfer’s message field. You don’t need the receiver’s bank or account details, and the money will be immediately on the receiver’s account even if the account were with another bank. Please note that the recipient needs to have enabled Siirto payments.


If you know the recipient’s bank account number, you can also send the money by means of a credit transfer. Don’t hesitate to ask for the recipient’s bank account number when you wish to give money with a credit transfer.

Fund units and shares are also a good gift

A mutual fund gift is a flexible and convenient option. In practice, the giver sends a sum of money to the recipient by means of a credit transfer, for example, and states in the message that the money is to be used for investing in funds. The recipient then visits a bank to select the fund where the money will be invested. You can encourage regular saving by giving a mutual fund gift also on other special days such as birthdays.


If you want to give shares, you should pick the share based on the recipient’s interests to inspire him/her to learn more about the company. The recipient must have a book-entry account for keeping the shares. If the recipient does not yet have an account, he/she must visit a bank to open one. In practice, then, you’ll buy the share for yourself and donate it to the recipient’s book-entry account. Please note that giving shares as a gift requires a deed of gift between the giver and the recipient, so shares cannot really be given as a surprise gift.

 

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