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FAQ for NGOs, Charities and Not for Profits

What are the challenges faced by NGOs in 2019?

NGOs, charities and non-profits serve an important purpose in their communities and overseas. Some of their key challenges include:

  • NGOs must deliver mission-critical funds into remote regions where banking infrastructure and online connectivity can be limited.
  • Once the funds are exchanged for a local currency, valuable dollars may be lost due to currency rate fluctuation and fee deductions.
  • FX volatility may leave donations at the mercy of the currency market.
  • Lack of transparency on fund transfers

How do you manage Foreign Exchange for International Charities and NGOs?

Each dollar raised by an NGO is valuable. Upon arrival at its destination, charitable funds often are exchanged into local currency. Using certain methods, the resulting amount may end up lower than expected due to transfer fees and foreign exchange. Partnering with Western Union Business Solutions allows you to access our global banking network and online platform, which helps to tackle these challenges.

Why do international payments arrive with less money?

Do your payments ever reach their destination short due to rate fluctuation and fee deductions? This means hard earned donations can be lost. We can help you lock in exchange rates and deliver payments via our global financial network to help minimize surprise costs.

How do NGOs increase transparency in money management?

It’s critical that your organization can account for every payment made.

Our online platform provides powerful track and trace features, so you’ll know where your funds are even as they make their way to remote regions. We make it easy to generate reports and understand cash flow. This can have a significant impact on your organization’s public perception.

Can NGOs send money via smartphone?

Sending money through a mobile payment is sometimes the more efficient method of transferring funds where they are needed most. We are able to facilitate this money transfer for 10+ countries. For more information, contact one of our NGO specialists.

How can NGOs exchange foreign currency?

With global reach, we can quickly assist in distributing money to over 190 countries and help you make payments in 130 currencies. There are also approximately 300,000 agent locations worldwide to assist in remote locations where banking infrastructure may be limited.

How NGOs Manage Currency Risk?

In order to ensure funds are not lost due to currency fluctuation, NGOs should consider hedging. This will help with budget projections as organizations will be able to predict their cash flow and distributions in future payments. Because NGOs, charities and non-profits are often dependent on public donations, the ability to protect assets from foreign exposure is especially valuable.

How can NGOs reduce their administrative costs?

Budget for NGOs, charities and non-profit organizations are likely slim. The fees associated with currency exchange and money transfer can take away from the funds meant to help those in need. Streamlining this process can help lead to cost-savings and more efficient delivery of cash to remote and at-risk areas without an established banking system in place. By utilizing the Western Union global banking network, you can take advantage of the global agent locations in order to help send cash quickly and smoothly to locations around the world.

What are the latest trends in NGO?

Due to the increase in globalization, NGO leaders are seeing the following industry movements:

  • Projects on every corner of the globe
  • NGOs fundraising and operating almost everywhere in the world
  • Overseas aid increasing

Increased collaboration in management of projects and in times of disaster

How can NGOs manage international payments?

Western Union’s GlobalPay® is designed specifically for charities, non-profits and other such organizations in order to help maximize funds and transparency. Through this online platform you can manage:

  • Incoming donor capture
  • Donor management
  • Payables (outgoing)
  • Wire transfers
  • ACH
  • Drafts
  • Domestic and international
  • Mobile network and agents