Revolut adds charity donations feature
The app feature also allows customers of the digital bank to make donations via one-off, weekly or monthly recurring payments. There is no minimum donation amount and the feature can be turned on and off at any time.
At the moment Revolut customers can only donate to three charities – LGBTI charity ILGA-Europe, Save the Children, and Worldwide Fund for Nature (WWF). The digital bank said it’s chosen these three charities to kick off the service as they’re likely to appeal to the company’s global user base. It plans to add more charities throughout the year.
Revolut said 100 per cent of the amount donated goes to each charity, with Revolut not charging a fee for the service.
Nik Storonsky, founder and CEO of Revolut, said: “Supporting social causes is both important to us as a business, and to many of our customers. Complicated sign up processes and scary commitments can put a lot of people off, so we wanted to build a feature that would enable our customers to support good causes in a seamless and secure way.”
Anna Shepherd, fundraising manager at ILGA-Europe, said: “Across Europe and Central Asia we’re seeing stagnation and rollback on LGBTI equality. Now’s the time to invest in lasting and real change in the lives of LGBTI people. This is why we’re thrilled to partner with Revolut to offer seamless giving solutions, allowing users to be part of the LGBTI movement and this transformative change through their everyday transactions.”
Revolut has also launched a limited rainbow edition of its bank card in tandem to its partnership with IGLA Europe and Pride Month. Users can apply for one of 30,000 rainbow cards via the app.
Revolut already allows users to automatically round up every card transaction to the nearest pound and transfer the change to a savings “Vault”. Donations works on the same principle by making it easy to frequently donate small amounts of money to charity.