~ Currensea, the UK’s first direct debit travel card that links directly with your existing bank account, has partnered with Eden Reforestation Projects to help their customers sequester even more CO2.~ Customers can contribute some of the money they save by using Currensea to spend abroad vs their high-street banks to automatically donate to Eden Reforestation Projects.
London, October 7th - The UK’s first direct debit travel card Currensea is launching a new partnership with Eden Reforestation Projects, enabling users to plant even more trees for their donations. Currensea identified that Brits rank their concern of sustainability at 9/10, with increasing tree planting to reduce deforestation recognised as the factor they associate the most with sustainability at 88%.
Currensea is the first-of-its-kind direct debit travel card that allows consumers to spend directly from their high-street bank account without any of the charges, resulting in a much cheaper and more convenient solution than prepaid travel cards and challenger banks.
Deforestation is a global problem, with over 21 million hectares burnt or cut down so far in 2021 alone. However, the regions most impacted are highly poverty-stricken and underdeveloped. Often members of impoverished communities are forced to destroy their local environment just to survive; cutting down trees for construction, fuel, heat, and agricultural purposes.
Currensea’s partner, Eden Reforestation Projects’ approach to successful reforestation means working directly with the communities most affected. Eden employs members of the local communities to plant the trees donated to them, ensuring that a successful and longstanding reforestation effort is achieved through providing a real, significant, and longstanding benefit to the community. Currensea is excited to announce this new partnership with Eden Reforestation Projects, an organisation that has planted more than 697 million trees to date, to their user base.
Currensea users plant 1 tree for every 8p donated, this means that if all holidaymaking UK adults contributed 20% of their savings vs the banks when spending £100 worth of Euros, we could plant 481 million trees as a collective.
“It’s great that travel is opening up again, we’ve seen a huge increase of Brits spending abroad over the last few months, but we are aware that travellers have had time to reflect on the impact of their travels and want to do more to offset this. Working with Eden Reforestation projects makes it as easy as possible for our users to travel more sustainability, automatically, every time they spend.”
- James Lynn, Co-Founder, Currensea
“The team at Eden Reforestation Projects is thrilled to announce our partnership with Currensea because of their commitment to contribute to a cause that employs people living in impoverished communities to restore and protect forests on a massive scale. A big thank you to Currensea for the work that you do!”
*Spending £100 ( €117 on the day of calculation) gives Currensea customers an average saving of £3.38 vs the banks. 20% this is 67p. This multiplied by the holiday making adult population of the UK (88% of 64.7 million = 57 million) is £38.53 million, meaning the population could plant 481 million trees as a collective.
Data Methodology: The proprietary data in this announcement comes from a survey of 252 consumers in March and April 2021 asked about their attitudes around sustainability. Data was collected directly by Currensea via surveys published via paid and organic social media campaigns as well as direct email campaigns.
About Currensea: British FinTech Currensea enables consumers and SMEs to make purchases from or while abroad, without the foreign exchange charges normally applied by banks. Thanks to its use of Open Banking technology, Currensea’s debit card works with your existing banking account so you don’t need to worry about inconvenient prepaid cards and different currency accounts. Founded by Barclays and JPMorgan alumni in 2018, Currensea has since amassed over £5m in funding, become the world’s first Card Based Payment Instrument Issuer (CBPII), and launched its consumer and business propositions in 2020. It has recently been named a finalist in the innovation category of the British Bank Awards 2021 as well as winning Leading Financial Services or Payments Startup at the 2020 Emerging Payments Awards. It has also recently been certified Carbon Neutral by Carbon Neutral Britain. You can find out more about Currensea here: https://www.currensea.comFor PR enquiries, please email firstname.lastname@example.org
Currensea Limited is registered in England and Wales (No. 11413946), authorised by the Financial Conduct Authority (Reference No. 843507) and is a Principal Member of Mastercard. We are registered with the Information Commissioner's Office (Registration No. ZA524676).
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