Fintech startup Revolut wants to make it easier to donate to charities with a new feature. You can now round up card payments to the nearest whole number and donate a tiny little amount to a charity. Over time, those donations might add up.
The startup already has some features to put some money aside and save over time using vaults. Essentially, Revolut is giving you the same tools. But instead of putting money in a vault, you donate that money.
In addition to rounding up transactions, you can multiply spare change by a factor of 2x, 3x, 4x, etc. You can also set up recurring donations to donate a fixed amount every day, week or month.
There’s no minimum on donations. So even if you only rarely use your card, Revolut doesn’t keep anything. There’s also no fees for charity partners. When clients donate $100, charities receive $100.
You can tap on a cause and see how much money you’ve donated overall. Revolut will also display how much money they’ve handed out to each charity from the entire customer base. And of course, you can stop donations in one tap.