British & Australian, informal a collection of money among a group of people that is used to buy a present for someone.
We had a whip-round for Annie's leaving present.
whip-round
⇨ whip-round; whip-around; whipnoun an informal fund collected from a group of people. Originally military 'whip' (a collection for more wine in the mess) UK, 1874
whip-round
A monetary collection used to buy a gift for someone. Primarily heard in UK, Australia. The office had a whip-round for Ellen's retirement party.