London charity the St-Martin-in-the-Fields Trust, which supports the work of the Trafalgar Square church in helping women move away from homelessness, is to benefit from a rounding-up option that allows debit card holders to automatically donate small sums when they spend.
Users of the card in question - Currensea - can opt to round-up UK spending, in-store or online, to the nearest 5p and donate this to the Trust.
UK financial figures show that the average person makes 380 debit card transactions per year, which equates to a potential donation of up to £19 - or almost £24 per person once Gift Aid at 25% is taken into account.
The Currensea card, which links to a user’s existing bank account using ‘open banking’ technology, was originally conceived as a way to allow travellers to spend overseas directly from funds in their current account.
This achieves big savings on foreign exchange fees, with customers able to donate some or all of these to charity.
Currensea is also now available for spending in the UK, hence the link to St Martin’s.
Supporters of St Martin’s can also use a branded card featuring the Trafalgar Square building issued under the ‘Powered-by’ concept, which allows charities to issue cards so they can benefit from rounded-up charitable donations.
The link between the Currensea card and the user’s own bank account is provided by open banking specialist Global Processing Services, whose chief executive, Joanne Dewar, said: “Our cloud-based platform bridges the gap between Currensea to all the major high-street banks, allowing its customers to donate to charity however and wherever they want.”
Katy Shaw, director of St Martin-in-the-Fields, said: “This is a great option for our supporters looking for a simple way to donate to the vital causes that St. Martin’s continues to champion.
“A 5p donation may not seem like much to many people, but for charities it’s part of an integral contribution that can change lives. It’s a unique way for donors to continue their support while saving costs on their currency fees when spending abroad.”
