ActionAid launches credit card with Co-operative Bank
Saturday, 02 Feb 2008 14:43
International Development charity ActionAid is launching a new credit card in conjunction with the Co-operative Bank.
The card – named Money Where Your Mouth Is - has a standard rate of 12.9 per cent and offers up to 59 days interest-free credit if the balance is paid in full.
ActionAid receives £15 for every account opened – enough to train two people in basic healthcare in Mozambique – and a further 25p is donated for every £100 spent on the card, along with 25p for every £100 transferred onto the credit card.
Tamar Ghosh at ActionAid explained the Money where Your Money Is card is the result of the synergy between the charity and the bank – known for its ethical policy.
"Money raised through the credit card will help people access the basics – food, water, shelter and the means to earn a living as is their right. It’s a way for both the bank and ActionAid to call on their areas of expertise to help poor people in the developing world," said Ms Ghosh.
Of the total amount raised, five per cent will go towards supporting ActionAid’s campaigning work, ensuring people are treated fairly by governments, companies and international institutions.
Ms Ghosh added: "We’ll be keeping credit card holders updated on our campaigns. It’ll give them the opportunity to fund us through the use of the credit card, and to take campaigning actions themselves to help end poverty."
Other benefits of the card for users include up to £25,000 free travel accident insurance when the card is used to pay for travel tickets, 24-hour medical and legal assistance overseas, and no charges for using cheques.