My children don't even have bank accounts. I feel really horrible about this but its not like it used to be for me as a kid. We banked at school and saw the balance going up.
They don't do banking at my kids school and they don't receive money very often at all for bdays so if they do we normally go on a trip somewhere like the zoo etc.

I personally think its up to the person recieving the gift as what they do.