Lloyds puts an end to charity cards

By Sarah Engle, Mon 30 Jan 2012 - Published in Credit Cards

Major banking group Lloyds has decided to end its charity cards from companies such as Halifax and the Royal Bank of Scotland.

Charity credit cards are a way for people to donate money just by using plastic on transactions in stores. Many companies offer a system where funds are given to organisations once an account is opened and then for every transaction over a certain amount a percentage is donated to charity.

However, Lloyds believes that this is not a cost-effective way of giving money and has taken the decision to withdraw its cards from banks and building societies.

In the past 23 years the company has donated millions to charities such as Cancer Research UK and the NSPCC but now it will end the scheme in the coming weeks.

Baroness Finlay, vice chair of the all-party parliamentary group on cancer, criticised the decision.

She told BBC Radio 4's Money Box programme: "I think a bank which can produce that amount of additional money to give large bonuses has to look very hard at whether it should be giving back to the society on which it depends for its business."

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