Europe Fintech Trending

Brits Give Back : Revolut Data shows big spikes in charitable donations during lockdown

  • The average amount spent through Revolut’s Donations has increased across all age groups since the beginning of March, by 59%

  • Donations charities including Save The Children (21%), IGLA Europe (15%) and Movember (2%) all saw an uplift in donations, while newly added charities MSF and Trussell Trust saw support pour in

  • The UK cities with the largest increase in average donation size since the start of March included Edinburgh (+313%), Sheffield (+177%), Belfast (168%) and Cambridge (+159%)

 Revolut, the Financial Super App with over 10 million customers in the UK and Europe, has today revealed figures highlighting a swell in charitable giving among UK consumers during the COVID-19 pandemic. The proprietary Revolut data has been gathered from 3 million UK Revolut customers, comparing stats from January and February 2020 to data since COVID-19 began to impact UK consumers from 1st March 2020.

Donation amounts increase across all age groups

The average amount given through Revolut Donations increased across all age groups during lockdown, by an average of 59%. Those in older age brackets gave significantly more than they did prior to lockdown, with the biggest rise seen in the 50+ age group, where donation amounts soared by 147%. Those aged 41-45 increased their average donation amount by 91% and those between 46-50 by 75%.

But it wasn’t just older consumers who gave more to charity during lockdown, Gen Z increased donation amounts by an average of 13%, those aged 26-30 by 8% and those aged 31-35 by 23%.

Donations for COVID-19 frontline charities soared

During lockdown a number of new charity partners have been added to Revolut Donations, including Médecins Sans Frontières (MSF) and Trussell Trust – both of which are providing support to those on the COVID-19 frontlines. Revolut users have flocked to donate to these two charities, with donations reaching over £660,000 across Europe, and £125,000 in the UK in a matter of weeks.

Of the longstanding charities listed on Revolut Donations, support for Save the Children (22%), IGLA Europe (15%) and Movember (2%) also rose during the time period.

Regional donation hotspots appear across the UK

The data also showed strong regional variations in donation amount rises across UK cities Edinburgh residents led the charge, increasing average donation amounts by an impressive 313%. This was followed by Sheffield (177%), Belfast (168%) and Cambridge (159%).

CityRevolut Donations (in-app) increase / decrease (+/-)
Aberdeen27% and Virgin Money Giving see donations spike

Outside of the Revolut Donations feature, spending analysis on Revolut cards highlights how volumes of giving have increased for a number of charities supporting COVID-19 issues. The average transaction volume for rose by 355%, driven by consumer support of families and individuals struck by the virus, while Virgin Money Giving saw an average transaction increase of 112% – largely down to the successful #5for5 and #runforheroes campaigns. Just Giving transaction values grew by 93%, with many looking to support veteran hero Captain Tom Moore.

Giving to family and friends

Revolut’s data shows that it wasn’t just charities that Brits were feeling particularly generous towards during lockdown. Reaching out to loved ones through online services also increased with purchases at online flower delivery services Bloom&Wild (127%), Serenata Flowers (108%) and Freddie’s Flowers (95%) all rising. Card and gift services Funky Pigeon (60%) and Thortful (19%) also saw a rise since the beginning of March.



Related posts

Tyro Payments Introduces Tap to Pay on iPhones for Merchants in Australia

Tom Bleach

JazzCash and Mastercard Collaborate to Transform Pakistan’s Digital Payment Ecosystem

Polly Jean Harrison

Visa Expands Global Transaction Processing with Facilities in Singapore and United Kingdom

Manisha Patel