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Cash is king for charitable donations

Cash is king for charitable donations

Category: Money

Updated: 23/03/2015
First Published: 23/03/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Have you given money to charity in the last year? If so, how did you go about it? Research from Halifax has revealed the welcome news that charitable donations are increasing, but perhaps surprisingly, the majority continue to donate in cash.

Happily, four out of five (83%) of those surveyed have given more or the same amount of money to charity compared with a year ago – and 19% gave more, arguably helped by rising incomes – but few people have embraced the digital age when it comes to donating.

Traditional payment methods continue to be the most popular, with 66% of charity donors having used cash to donate in the last 12 months. This is despite the fact that there are a growing number of ways to donate, such as online, via text message or at ATMs, but it seems that people are reluctant to give via these means.

In fact, just 9% opted to give by text and only 13% have donated online in the last year, while just 1% of those surveyed have donated via ATM. Cash easily outweighs all other forms of giving, with the second most popular, direct debit, being the method of choice for 25% of respondents. Surprisingly few choose to donate by debit or credit card, with just 10% opting for this form of donation.

"With ever increasing numbers of our customers choosing the convenience of online and mobile banking, it is surprising that many are not embracing the digital age when it comes to charitable donations, despite being a very generous nation," said Nick Young, head of Halifax Current Accounts.

"Consumers clearly prefer the convenience of donating spare cash to charities, but those who like to make more regular donations should consider setting up a direct debit or standing order. This will allow people to plan their donations by choosing the amount, date and regularity of when they are made and may allow the charity to claim the tax back on the donation through gift aid".

What next?

Find out more about direct debits

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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