Hit or Miss? Lloyds Banking Group axes charity credit cards

Charities pinned back - On the heels of the RBS chief's waived bonus, Lloyds Banking Group announced it is to withdraw its Halifax and Bank of Scotland charity credit cards from the market.

Charities pinned back: credit cards stopped
Charities pinned back: credit cards stopped

The cards, which enable a donation to be made to charity with every transaction, are being withdrawn after Lloyds said the cards were an ineffective way of donating. Despite this, the cards raised £14.5m for Cancer Research UK and £500,000 for Scottish SPCA.

HOW I SEE IT

JAMES THELLUSSON, CORPORATE HEAD, LEXIS PR

Talk about a rock and a hard place. Any bank withdrawing a product that makes money for charities must have expected a bashing. But, so far, the volume of coverage has been limited.

The story has not taken off on social media either, which I believe is for several reasons. Firstly, the charities themselves have not pushed back publicly, seeing their long-term relationship with the banks as more valuable.

Secondly, it has not become part of a political debate and, thirdly, there are other suppliers to go to for charities wishing to raise cash from affinity cards.

Lastly, the cardholders and charities do not appear to feel they have 'lost' much. No-one has pushed the 'anger button', while Lloyds has been upfront with its rationale and shown it will help the transition and maintain its broader charitable commitments. So far, a hit for Lloyds.

HIT

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.