Charities to benefit from banking app tie-up

Revolut will enable customers to round up purchases to the nearest pound, with the extra going to charity

Save the Children, WWF-UK and the LGBT organisation ILGA Europe have teamed up with the banking app Revolut to allow people to automatically donate to charity when buying items on their bank cards.

In a blog on its website, Revolut said that customers could use Revolut Donations to give directly to charities easily on a regular basis.

This included opting to round up all purchases made through Revolut to the nearest whole number, with the excess donated automatically to charity.

For example, purchasing food for £3.50 at the supermarket would result in an extra 50p automatically donated to the customer’s chosen charitable cause.

Users could also set up daily, weekly or monthly recurring payments to a charity or make one-off donations through the banking app.

The company said there would be no fees for any charities involved and all charities would receive 100 per cent of the amount donated by customers without any hidden fees during the bank transfer stage.

The scheme will initially allow donations to the three chosen charities.

Revolut said in the blog that it was looking to add more charities in the future.

The company did not respond to a Third Sector request for more information on how charities could apply.

Customers will also be able to see in real time the amounts they have donated to charity through the Revolut app.

A feature about open banking and what it could mean for the charity sector will be in the July/August edition of Third Sector, due out later this month.

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