do you say red packet?
During Chinese new year, people give each other money packed in a bag/packet, which is a traditional way. Nowadays, people send money online via wechat or something. That is called 红包（hong2 bao1) in Chinese, however, do you have your own way to call it in English because I dont know how to translate this word into English to my friends.
Thank you!

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Answer

I have heard it called that, and also "red envelope".

Answer

It is not very common to make a present of money, at least in North America. When it is done, it's typically for a child It is considered a careless or impersonal to gift cash to an adult. Usually, the bills are simply placed inside a greeting card for a birthday, graduation, etc.

But, we do have the concept of a "money card" which is a greeting card specially designed to hold money. Here is an example of a very nice one:

http://trendymods.com/fashion-2/new-collection-of-money-card-holders.php/attachment/new-money-card-holder-collection

There is no equivalent of wrapping money like a Christmas gift, so we don't have a word for that.