Giving children Eid money on the two Eids
Question

We have small children, and the custom in our country is to give them on the day of Eid – whether it is Eid al-Fit or Eid al-Adha – what is known as the “Eidiyyah”, which is a small amount of money, so as to make them happy. Is this Eidiyyah an innovation (bid’ah), or is there nothing wrong with it?
Praise be to Allah.There is nothing wrong with that; rather it is a good custom that brings joy to the Muslim, whether he is old or young, and it is something that is encouraged in Islam. 
And Allah is the source of strength. May Allah send blessings and peace upon our Prophet Muhammad and his family and companions. End quote. 
Standing Committee for Academic Research and Issuing Fatwas 
Shaykh ‘Abd al-‘Azeez ibn ‘Abdullah ibn Baaz, Shaykh ‘Abd al-‘Azeez Aal ash-Shaykh, Shaykh Saalih al-Fawzaan, Shaykh Bakr Abu Zayd.