Charities love payroll giving because it provides a valuable stream of ongoing income allowing them to plan ahead. In 2015/16 charities in the UK received a total of £130 million through payroll giving - lots of people giving a relatively small amount every month makes a huge difference.
I recently met with Linda Minnis, the CEO of Charities Trust who RBS has partnered with for the past six years to deliver our payroll giving scheme in the UK. She’s delighted that RBS is so committed to enabling our employees to give more to great charities and good causes. Her view is that Payroll Giving is really easy to do, is the most tax efficient form of giving, and provides charities with a regular income stream.
For the second time as part of #GivingTuesday, RBS is encouraging employees to increase existing or create new donations by providing a £150 boost donation to their chosen charity. If an employee signs up for payroll giving or increases an existing donation by 31 December, a £150 donation from the bank will be shared by the employee’s chosen charities. Last year over 800 employees took part in the offer which led to an additional £155,000 of funding for charity each year.