We have spoken about various investment apps lately but not about giving and receiving stocks from friends and family. While people have done this for years to make some of the most rewarding gifts for someone’s future a new platform makes it much easier. SparkGift lets you give stocks and index funds to your friends and family.
You can gift stocks and index funds, including fractional shares, ranging from $20 to $2,000 in as long as it takes to fill up a cup of coffee. This works similar to purchasing a gift card where you select your stock or index funds and send it to your recipient who redeems the gift for their stock held by SparkGift.
The recipient of the investment pays no fees. SparkGift charges the sender a fee of $2.95 plus 3%. If you use SparkGift for this Christmas season they will charge only $2.95 for gifts of up to $100.
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