Save money on Foreign Exchange, raise money for charity - NEW FX4 CHARITY DOES BOTH
Charities Trust would like to introduce a fundraising initiative to help individuals, businesses and charities generate free donations for good causes has been launched by one of the UK's leading foreign exchange firms - Currencies Direct.
And as well as raising cash for their favourite good cause,
customers will also save money on their own currency purchase through
Currencies Direct's market-leading exchange rates.
The minimum donation will be £1 per transaction and will come from
Currencies Direct, not the customer, and the firm anticipates paying £100,000
to charity in the first year alone.
£1 is enough to immunise 10 children against polio or provide two
hours of respite care for an elderly or sick person, and the donation increases
with the amount of currency bought.
FX4Charity is aimed at both individuals and organisations, and
charities can even use it to raise donations for themselves by choosing Currencies
Direct for their foreign exchange needs.
Ignacio Hernandez, the managing director of Currencies Direct,
said:
“Whether it is cash for a holiday or business trip, deal with an
overseas supplier, or pay a pension or foreign mortgage, using FX4Charity makes
sense.
“Not only are you saving money by getting one of the most
competitive rates of exchange available, you are also raising money for your
favourite good causes. “And FX4Charity also represents a unique opportunity for
charities and fundraisers to generate a sustainable and recurrent stream of
donations, vital plank to any long-term fund-raising campaign.”
Mr Hernandez added:
“FX4Charity goes beyond foreign exchange and international
payments. It is about saving and giving. This makes it an initiative without
boundaries, focused not on the product or service it offers but on
fund-raising.
“At a time when the reputation of some financial services is at an
all time low, we think FX4Charity epitomises how City businesses can operate both
successfully and responsibly.”
The donation structure is based on a minimum of £1 per
transaction, with individuals earning their charity a further £1 for every
£1000 of currency they buy, rounded up or down, in a month.
For example, someone sending £1,600 worth of euros to
This constitutes £1 for the transaction, and £2 for the size of
the transfer as it is rounded up to £2000. A payment worth £1,300 would
generate £1 for the transaction, and £1 for the amount.
The donation rate for businesses follows the same principles but
the thresholds are based on increments of £10,000, reflecting the greater sums
involved in corporate transactions and the much smaller profit margins.
All the payments to the charities will be paid monthly by Currencies Direct to Charities Trust to disburse the donations. Lorraine O'Brien, Chief Executive Officer of Charities Trust was delighted to add,
“Charities
Trust will always support the corporate sector in providing innovative ways to
boost charitable giving. Currencies Direct has come up with a smart idea that
allows people to get a deal on their currency transactions while increasing
contributions to their charities of choice. We are excited about the project
and are proud to be founding partners of FX4Charity. We feel privileged to work
with a business with great people who want to make a positive difference to
those who need help and support”
Charities Trust is one of four organisations invited by Currencies Direct to be
a founding member of FX4Charity, alongside Bell Pottinger Business & Brand,
part of the UK's largest communications group; Three's Company , a design consultancy; and IT
specialist Nexolink.
Currencies Direct has been doing business for more than 12 years and has won numerous awards for its innovation and service, and has offices across five continents.
Currencies Direct typically offers an exchange rate which is two to three per cent better than the high street bank or post office by using its own dealing room and passing on savings to customers.
The service can be used over the telephone by speaking to a Currencies Direct consultant on +44 (0) 207 847 9400 or by visiting www.fx4charity.com.
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