Virgin Money to launch ‘not-for-profit’ online donation service

Virgin Money is to launch an online donation service which, it claims, will raise more money for charities than providers of similar services because it will want only to cover its costs. It will charge a lower fee on the donation and none on Gift Aid. ‘By operating on a not-for-profit basis, we can ensure more of people’s hard-earned donations makes it to the charities for good causes,’ says Jayne-Anne Gadhia, chief executive of Virgin Money, which aims to launch the new service, Virgin Money Giving, in April. Its aim is to raise a quarter of a billion pounds through the website by 2015.

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