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Using local currency to create safe havens for kids

Using local currency to create safe havens for kids
Using local currency to create safe havens for kids Working in third world countries presents a range of barriers when it comes to international payments.

SOS Children’s Villages Switzerland aims to give at-risk children around the world a second chance at being raised in a loving environment. 

It’s vital that the organization can arrange for money to reach children in desperate situations, but the dominance of black markets, and expensive local banks often hindered attempts to help those in need.

Challenge

In crisis situations caregivers need urgent access to local currency, but in many places it’s difficult to convert currency without the black market or expensive local banks.

Solution

SOS Children’s Villages Switzerland has the ability to send funds directly to caregivers’ accounts using the WU® NGO GlobalPay platform.

Result

Able to send local currency funds that arrive in minutes rather than days or even weeks, while avoiding high exchange rates on the black market.

Changing lives with local currency

SOS Children’s Villages Switzerland sends $5 million USD annually using the online NGO GlobalPay platform. The ability to send local currency directly to bank accounts means currency exchange rates are dealt with fairly and without corruption. In crisis situations funds can reach the hands of caregivers in minutes, helping abandoned children thrive in tough situations.

Trust in the funds you give

The platform’s detailed reporting and analysis tools ensure that the organization can make global financial transactions with full transparency. This is particularly important in the NGO sector where accountability for the use of donations is critical.

“High exchange rates meant that instead of helping, say, 100 children, we might only be able to help ten. This is why we work with Western Union - to ensure our currency exchanges are dealt with in a fair way without corruption.”

The Last
Exchange
SOS Children’s Villages Switzerland found that foreign currency markets could often interfere with their commitment to helping those in need. Now that it has some control over exchange rates, the organization can confidently fulfil its mission.
International Payments  Foreign Exchange 

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