| Friday, September 4th, 2015

Money transfer for charity donations

International money transfer guide for making overseas charity donations

If you making donations to a charity overseas, consider using a money transfer provider to send the funds for you. There are many charities who do not have international bank accounts and sending money directly to the charity account in their home country can be the most efficient way to make the donation.

Donations to education institutions

One of the most common reasons to send donations internationally is to support a former school or college in a country you no longer live in. Some of these institutions may have a fundraising team based in your local others but others only have a fundraising office in the school’s home country.

Tax implications of making a donation

If you are making a charitable donation personally or from your company, it is advisable to additionally seek some tax advice as to whether the donation is tax deductible.

In the UK, Gift Aid allows a donation to a charity or Community Amateur Sports Clubs to be re-claimed against your basic rate tax. If you pay higher rate tax, have a higher Personal Allowances or tax credits, Gift Aid donations may be able to increase your entitlement further.

In the US, a donation can also be used to reduce the taxable position of the donor. The donation need not be in cash and can be in terms of property and shares as well. We recommend seeking tax advice as to the exact handling of a charitable income tax deduction in the US.

Donations made to a charity in Australia are also tax deductible. The deduction with the Australian Tax Office works in a similar way to the UK and USA models.

Money Transfer Comparison

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Money Transfer Reviews

Use our Currency Tools

Currency Volatility Tool - assess the impact of currency risk

Currency Analysis Tool - conduct an audit of historical transactions

How to Transfer Money from Australia to UK

How to Transfer Money from Australia to USA

How to Transfer Money from the USA to the UK

How to Transfer Money from the USA to Canada

How to Transfer Money from the UK to the USA

How to Transfer Money from the UK to Australia

How to Transfer Money from Canada to the UK

How to Transfer Money from UK to Spain

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.