Covid-19 remains one of the biggest global health issues we’ve seen in our lifetimes, and finding a vaccine is a cause that people all over the world want to support.

But, when it comes to donations to international organisations, most banks and payment providers don’t exchange money using the mid-market rate (the rate you find on Reuters, and Google). 

That means when people donate money to Covid-19 research efforts in another country, and the transfer provider doesn’t give them the real exchange rate, the full donation isn’t getting to their chosen organisation.

Today, TransferWise is launching it’s COVID-19 donation platform, partnering with 3 international organisations working to find a vaccine for COVID-19. Currently, these are: Gavi - the Vaccine alliance CEPI - the Coalition for Epidemic Preparedness UNF - formal name for the World Health Organisation. We’re also waiving fees up to $20 million in donations - meaning the entire amount transferred will reach these organisations.

If you’d like to hear more about the issue of hidden fees in international donations, and specifically how it might impact Covid-19 efforts, we'll be happy to discuss, and potentially loop in some of our partners.

You can read more in the blog here.