Currensea, which offers a direct debit travel card that saves users money on overseas transaction fees, has launched a ‘powered by’ programme, allowing travellers to convert these savings into charity donations.
Currensea allows its users to access the best foreign exchange rates at only 0% to 0.5% above the base rate. Currensea says that with banks charging on average 3.25% per transaction abroad, it saves at least 85% on every transaction abroad by cutting out the normal high-street bank fees.
With its new service, charities can issue branded cards to their supporters that allow users to donate a portion, or all, of the savings they make using the card to the charity, with no fees.
The Currensea card uses open banking to connect directly to someone’s bank account, allowing travellers to make overseas transactions directly from funds in their current account, whilst avoiding bank fees.
James Lynn, Co-Founder, Currensea, said:
“Our ‘powered-by’ offering provides people with more choice on where their money goes. Rather than being hit by unexpected fees, people have a choice; they can either benefit from the full savings of at least 85% or automatically donate to the causes that mean the most to them.”
The Cameron Bespolka Trust is the first charity to use the service. In partnership with the RSPB, the Trust is renovating Cameron’s Cottage, a residential educational facility for young people. This is one of the charity’s projects that the donations made by Currensea card users will contribute towards.
Kevin Bespolka, Founder Trustee, Cameron Bespolka, commented:
“We used our cards widely this summer in Europe and we hope our donors will do the same as they start travelling again. The card is an excellent way for our supporters to save fees and make donating as easy as possible.”
from UK Fundraising https://ift.tt/3q6Iwph
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