Some advice from Gen Z—try Venmoing cash for Christmas

I personally can never bring myself to tell people that I’d rather forgo their gift and just get cash instead—or better yet, a Venmo. It feels almost too blunt, a cheap shot. So each year, when I unwrap another pair of socks, I smile through gritted teeth.

I feel a twinge of guilt in admitting it. But, to my relief, it appears I’m not the only one.

A new Wells Fargo survey finds younger generations are driving a shift toward digital cash gifts, choosing convenience and flexibility over traditional wrapped presents. A staggering 45% of Gen Z and 42% of millennials say they’d rather receive digital payments, compared with 27% of Gen X and just 10% of baby boomers.

“I feel like we’re influenced by older generations,” Steve Selfridge, Wells Fargo’s product management director, said to USA Today. “We’re kind of taught it’s not OK to ask for money.”

Physical gifts are still popular—but money is quickly catching up. About 48% of gift recipients prefer cash or checks, and 29% would like digital payments through Venmo, Zelle, PayPal, or Cash App.

Gift-givers aren’t quite as enthusiastic about it: Only 34% enjoy giving cash or checks, and 18% digital payments. Among younger gift-givers, 32% of Gen Z and 28% of millennials are comfortable sending digital cash, compared to 11% of Gen X and 7% of baby boomers.

It’s not just you, asking for money is awkward

I’ve even tried practicing a polite, non-offensive script for requesting money from my family for Christmas—but when the moment comes, it just feels uncomfortably awkward.

Survey data backs this up: More than half of gift-givers say sending digital cash “feels impersonal,” and nearly half of recipients admit they’d appreciate it, but feel weird asking.

Still, the perks are hard to ignore: 65% of consumers agree that receiving digital cash gives them freedom to choose what they really want, and the same number cite gifting it as convenient—no wrapping, postage, or shipping stress.

Roughly a third also say they appreciate digital gifts because they usually don’t like most physical presents, and 32% would like to give money digitally but aren’t sure it’s socially acceptable.

So next time you’re stuck on what to gift a Gen Zer, it might be simpler than you think: Just send them money.