You are likely asking yourself what that means. What is it? Who does it?
For decades, airlines from all over the globe have asked their passengers to donate their leftover foreign currency to support their charitable efforts. This makes sense when you consider the passengers may be carrying foreign currency from their travels.
Would it surprise you to know that since 1987, UNICEF and their airline partners have collected over $174 Million in donations from passengers? That is just one program currently operating on 10 different international airlines … and there are countless similar programs operating around the world at any given time.
Would it also surprise you to realise that these programs are only collecting a very small fraction of the foreign currency making its way around the world?
The most recent estimates of foreign currency in various countries are:
Let’s get back to “foreign currency fundraising”. Many counties in Europe as well as the U.K., Australia, and New Zealand have charities that target donations of foreign currency. They don’t call it foreign currency fundraising, but they clearly ask for you to donate your leftover foreign currency or they simply make it available as one of the many ways you can donate.
The benefits of a foreign currency fundraising program goes far beyond just raising money for charity. Obviously, that is the big one, but the benefits are many:
What this all means is that using leftover foreign currency for charity is good: good for the charity, good for the environment, good for businesses, and good for you. So, if it so good, why aren’t more people doing it?
The simple answer is, they just don’t know about it.
2020 has been a year that we would all just like to forget about, the sooner, the better. Among other things, 2020 was the year that travel came to a complete halt. A lot of people hold onto their leftover foreign currency in hopes of taking it with them when they return for another vacation or on a business trip. 2020 put most of that on hold.
Donating leftover foreign currency works because:
HUMANIA aims to achieve this by:
Organisations, big and small can set up their own fundraising efforts to support those who have been impacted by the Covid-19 pandemic. Whether it is an employee fundraising drive, or you have a retail chain that can support a large-scale collection program, every little bit helps.
If you are in the cash handling industry or involved in cash handling, there is a good chance you have little stockpiles of leftover foreign currency lying around because you don’t know what to do with it … this is a great opportunity to turn that into funds that can help those in need!
To provide a little context here, Global Coin Solutions has processed over 125,000kgs worth of mixed currency over the past 5+ years that was valued at over $13 Million. That is almost $3 Million per year, one coin at a time.
Reach out to one of the Humania Partners for help generating awareness and to connect you to the closest organisation that can help with your leftover foreign currency.