Cash4coins Blog

Fundraise for Charities That Need Your Help

Let Cash4Coins help you exchange foreign currencies to fundraise for charities that need your help

Every charity is worthwhile, and every fundraising project has an important reason behind it. But it seems that throughout the UK, there are some charities that really need your help and support.

If you are looking for a new charity to donate to, we have some of those that are looking for a helping hand from donators up and down the UK.

Battersea Cats and Dogs Home

Here in the UK we are known for our love of animals, and in particular our pets. That said, charities just like Battersea Cats and Dogs Home see abandoned and mistreated pets on a number of occasions. Their aim is not only to never turn down a cat or dog that needs a new home. But also, to make sure that those cats and dogs find their way to a loving forever home.

The Lullaby Trust

No parent should ever go through the horror and pain of losing a child. However for around 600 families every year, that lose a baby suddenly, the pain is very real. The Lullaby Trust was set up to offer specialist support to those families, helping them through the difficult times as well as creating safety advice relating to sleeping babies.

They also conduct research into SIDS to find out what can be done to try and reduce the risk of it happening.

Dementia UK

More and more people throughout the UK are being touched by some form of Dementia. This particular charity is one of many that looks at ways to help and support those whose lives are affected by Dementia. It supports Admiral Nurses who will work with families who are coping with Dementia, and offer their specialist support and guidance through what can often be an uncertain and upsetting time.

Shelter

Whilst Shelter may be a charity that many people recognise, it is one that still needs donations. The issue of homelessness or bad homing is one that isn’t going away, and Shelter help millions of people each and every year. They not only provide support, but they also offer advice to those that are faced with homelessness, as well working hard to combat it on a wider level and try to eradicate the issue in the long term too.

RNLI

The Royal National Lifeboat Institution has been helping people who get into difficulty in the waters around the UK since 1824. The help that they offer is vital and saves lives up and down the country, however it relies mostly on volunteers, as well as donations from people to keep it running.

These are just some of the charities that you can decide to help by making a donation. The best way to ensure that your money is going to help something that you care about, is to take a look through some of the different charities, throughout the UK, the world or perhaps just in your local area, and make a pledge to support them to carry on doing all the great work that they already do.

 


How to Set Up a Crowd Funding Page

Learn how to set up a fundraising page and raise money with foreign currencies with Cash4Coins

Over recent years the world of charity has changed. Or should we say, the way that money is raised for charity has changed.

One way that charity has moved forward is with the introduction of crowdfunding. Crowdfunding is used to raise money for a specific project, drive or simply for a particular aspect of a charity.

The crowdfund is usually time specific and has a huge dependence on the world of social media, a place that offers the perfect conditions to raise awareness, as well as raising money.

Need to find a way to raise money for a particular project? Perhaps the power of the community could help to build a memorial or a dedication? Or maybe assist in a charity drive?

If that is true, why not try out crowdfunding and see if it is the ideal way to raise the money that you need?

Here is our guide to setting up your own crowdfunding page.

Pick what you want to raise money for

Before you even start a crowdfunding page, you will need have a specific aim in mind. It should also have a clear outcome that you can present to your potential funders. You will also need to decide on the time frame that you want to raise money in.

Work out your budget and set your funding target

One of the main parts of any crowd funding project is how much you need to raise, and where it is going to go. You to do this by working out the budget of what you want to achieve from the money. You will also need to think about any commission that you need to pay to the crowdfunding site, and budget for any rewards that you need to hand out.

Get your pitch ready

You won’t be able to raise money if you don’t create a great pitch. The best way to do this is to create a short video, explaining more about your project, what you need the money for as well as the difference that you will hope to make.

The idea behind a pitch is that it not only makes everything clear, but it also grabs attention too!

Find a platform that you can promote on

There are a real variety of different crowd funding platforms that you can raise money through. You just need to find the right one for you. You will need to decide whether you want to offer a reward for the donations that people send through, or simply bring in the donations and allow people to help you to get to where you need to be.

Start it up

Once you have everything in place, it is time to launch. Get out and reach the community via email and social media. Encouraging people to share your page and pass on their requests for fundraising to their family and friends.

Keep it updated

It is important to keep all those wonderful people that have contributed to your fund updated on the project and how you are doing. Thank each and every person for their contribution and let them know the difference that their money will make.

Now you know more about crowdfunding, perhaps it is time to try it out for yourself, and see what you could do with the money.

 


5 Things You Need To Know About the New £1 Coin and £5 Note

How to Prepare for the Arrival of the New £1 Coin

As you may well know, the Royal Mint is giving UK currency a slight makeover this year with the introduction of the new 12-sided one pound coin and the plastic five pound note. With the benefits of the new coin being more secure as it is not as easily counterfeited as the previous one, will it still set out to cause issues for businesses and us at home around the UK? Here are 5 things you need to know about our new currency…

Change your Piggy Banks

So, when does this new money drop into our system? Well, the five-pound notes are already here and the filtering of the old notes is slowly but surely taking place. The new one-pound coin, however, will be introduced this March (2017). Whilst it is usually a slow process of elimination over the course of a year or longer, this coin will not be taking its time to become the only one with the old coins being defunct by October 2017. The new plastic five-pound notes are said to be taken out of circulation as of May 2017. If you are a saver, then you are advised to take your change jars and piggy banks to your bank and get your pound coins and notes swapped over as soon as possible because by the end of the year, both of these forms of currency will cease to be legal tender.

 PiggyBank

What Does the New Coin Look Like?

The new one pound coin is much light in weight in comparison to our current one pound coin. It has 12 sides and has a silver center with a gold outer ring, very similar to our current two-pound coins. Bold new designs will be featured on the newest coins that include an emblem from each country in the United Kingdom. From the UK come’s a rose, a shamrock from Northern Ireland, a Scottish thistle and a Welsh leek.

Pound Coin

Features of the New 5 Note

If you are a resident of the UK then you will already know the features of the new five-pound note. However, if you are note familiar, the new five-pound note has changed in material from its usual paper form to plastic. Instead of the image of George Stephenson (the founder of the first railway) it now features an image of Winston Churchill on the front and Jane Austin on the back. Other features include extremely fine details such as clear windows displaying a portrait of the queen, small metal strips across the note and an ultraviolet feature that displays the number 5 in bright red and green when ultraviolet lights are shone on it.

Five Pound Note

Security Features

The reason for the newest coins release is said to be due to such high volumes of counterfeit with the simple round one-pound coins that are currently in circulation. The latest coin features such as the 12 sides are much harder to counterfeit, but not only that, every other edge of the coin has been fitted with ridges. One of the most clever characteristics of this coin is the latent image on the front that changes from an image of the ‘£’ symbol to a ‘1’ depending on which angle you look at it. There is also a high security feature inside the coin, which stops it being counterfeited so easily. 

12 sided pound coin

How will it affect business?

The main way that this will affect business are those that have machinery that only take £1. From vending machines to locker rooms at spas and gyms, all of these pieces of machinery that take the one pound coin for security will have to be reprogramed and/or altered to suit the new shape and design. However, businesses such as supermarket giants have already claimed that the designs of their trolley lock systems will be altered to suit the arrival of the new shape coin.

Trolley Lock

So, now that you are fully ‘in-the-know’ in regards to the arrival of the new one-pound coin and five-pound note, it is time to start thinking of getting them exchanged. If you have any questions or queries and would like to speak to a member of our team, please contact us today.

 

 


The Real Wolves of Wall Street

Wolfing Around

Chaotic, greedy and scandalous: just three words that you could use to describe New York’s Wall Street in the 80’s. Glamourised by films such as ‘Wall Street’ and ‘Wolf of Wall Street’, the lifestyle that was created by stock brokers (a job that sounds about as exciting as unbuttered toast) became one of the most sort after jobs in the financial industry. So what was it that catapulted these men and women into such lucrative existences?

 

Wall Street New York

 

High Risk High Reward

The attraction to this job, aside from the lifestyle that accompanied successful traders, was the high risk and high reward adrenalin rush. Aside from the excitement of dealing with sometimes-illegal job transactions, managing risks with the potential for a very high payout pushed people to reject their morals and take a leap of faith on a daily basis.

 

The 80’s Revolution

Okay, so it wasn’t QUITE a revolution, but the 80’s was a time of great changes – MTV was born, Back to the Future came to our screens and it became the end of an era with the death of The Beatles’ John Lennon. It was a decade that demonstrated a great transformation and decadence and that was established on the trading floor of New Yorks’ Wall Street with Gordon Gekko’s (of the 1987 hit film ‘Wall Street’) famous line ‘Greed… is good.’

Michael Douglas Wall Street

The good, the bad and the downright greedy

That leads me perfectly on to my next point… Though Michael Douglas was an iconic in this film for the ruthless and intense, the Wall Street effect rippled through 1980’s New York in a wave of drug fuelled insatiability. Eventually, the lavish lifestyle and extravagant effect on people within this environment distorted people’s reality and moral grounding. One example of this is the detainment of Dennis B. Levine who was charged for obstructing justice amongst may things including making over 12 million dollars in his dealings with illegal trading of insider information. His greed left him in prison whilst his company Drexel Burnham Lambert, banking firm, eventually agreed to six felony charges and a $650 million pay out which led the company to bankruptcy.

 

Bankrupt

 

Exclusivity

Ignorance is bliss. And this case, it really is. The idea that these firms were in their own little bubble and didn’t affect their fellow American’s was disillusioned by the fact that most of the firms along Wall Street were private partnerships. Therefore, they could keep the scandals to themselves somewhat, whereas in today’s climate there are many more firms that are open to the public which open up access to a larger market. The idea that these traders and bankers could keep their money and information to themselves was a tall tale that they could tell themselves so not to believe they were affecting the ‘outside’ world.

 

Growth

It’s not all bad! Though most of the stories in 1980’s Wall Street illustrates how greed can lead anyone into a rabbit hole of both lavishness and an exorbitant amount of self-loathing and dissatisfaction, it also opened up New York to a new world of opportunities people to making such large investments lead to growth, jobs and productivity.

Growth Chart

Whether you are living the lavish lifestyle or searching for shrapnel behind the sofa, we want to hear from you! Contact one of our experts today to hear about how you can convert your unwanted cash.


A Brief History of Swiss Banking

 

Swiss banking over 300 years

Zurich and Geneva are the main hubs of Swiss economy, with Zurich being responsible for around a third of the wealth and a quarter of jobs within the city. Although Switzerland has its lack of natural resources, it makes the most of what its got and has become stable and prosperous by producing goods with strong value. For example, Rolex, Proctor & Gamble and – who could possibly forget? – Swiss chocolate.

Rolex-DD-18238-1

Aside from the chocolate, the beautiful mountainous views and popular ski resorts, Switzerland has a lot to offer. For those who want to keep their banking activities top secret, Switzerland is known as a financial safe haven. Regulation by civil law means that customers of the bank can put forwards complaints against any bank that doesn’t maintain client confidentiality. This has resulted in clients being protected because they cannot be prosecuted for information that has been divulged.

It all began over 300 years ago when Kings of France had the need for such a high degree of secrecy in their banking and borrowing of loans. It was carried forward through the years and became a safe place for people to reside their money after fleeing the revolution.

The Swiss Franc (CHF) has also always been the go-to currency in a crisis.

However, the modern day notoriety of some of the supposed ‘clients’ could include a strong list of mobsters, dictators and tax cheaters. This is due to the Banking Act of 1934 which allowed Switzerland to ultimately overcome the great depression and stock market crash of 1929 by allowing the clientele of the banks to keep their banking activity private. But this has also meant a lot of corruption over the years. Including the riddance of money and gold that was transferred from Jewish families over to Swiss banks from Germany, allegedly helping to finance their part in the war.

Top Secret Banking

However, it is not all bad. After World War Two, the USA, UK and France came to the agreement, called The Paris Agreement of 1946, that countries that remained neutral over the war would transfer over the money recovered from German allies to help aid Nazi victims. When discussing the issue, Switzerland transferred over approximately 250 million Swiss Francs of gold into the Tripartite Gold Commission’s monetary gold pool. This meant that the UK, French governments and US would waive claims against the Swiss banks connection to German gold over the war. In the years since, heirless money that has been left in Swiss bank accounts during that period of time has gone to Jewish and refugee communities to help rebuild the lives of families who were victims of the war.

Due to such high involvement in fraudulent scandals, Swiss banks have come under fire and held a national referendum in 2008 to amend the constitution that allows the information and records within banks to be open to tax authorities. However, a staggering 73% of the country voted against this idea, but it was not swiftly forgotten. In 2009, shortly after the UBS scandal, where a Swiss national helped US citizens avoid tax and defraud the US Inland Revenue Services, the law was amended so that non-Swiss clients of Swiss banks could be prosecuted for activity of this kind and limit tax evasion as much as possible.

Gold

Switzerland’s financial history is brief but remarkable. Withstanding wealthy King’s orders, world wars and great scandals, the Swiss have definitely got a lot to talk about (or keep to themselves, of course) in regards to their financial economy. If you have any queries in regards to your riches, please don’t keep it to yourself… Give our team a call today!


E-Money

The Debate

The way we pay for things has altered many times over the years depending on which culture or society it has derived from and where it is going. Currency has developed from many forms, such as leather, silver and gold. Even living animals, such as cows and sheep have been used for trade! The one thing that all of these types of currency have in common is its physical form. However, it has become apparent in the last few years that we are drastically changing our means of exchange by swapping our shrapnel for the instant contactless tap of our credit cards (and even the tap of our phones with Android and Apple Pay!) This goes hand in hand with the drastic progression of technology how it is has transformed the way we live today. We debate the pros and cons of these developments and what it means for you.

 

Summary of Development

Over the years, we have become more accustomed to the usage of money as a value on our credit cards rather than the physical cash that we have. This is not new though, as banks have been around for hundreds of years. This is where we can walk into any bank and get a statement of how much money we have stored in the account that we hold in that bank as long as we hold a legitimate form of ID. However, as technology has developed, the same principle still occurs, except we can now use cards, online banking and even our phones and watches in order to check the balance of our accounts. It has gone even further over the last decade, with people given the ability to do more than check the balance of their accounts. It has allowed us to control what goes in or out of our accounts by using a simple password and security questions to access our information.

 

Big Brother

There are many pros and cons that go hand in hand with making something as personal as our money, and how we spend it, electronic. For some people, their daily life requires the ease and speed that things like contactless payment and online banking offer. Although for some people, it can be a rather large hindrance. With the use of electronic payment, comes the record of how it is used. For many people this can be seen as a “Big Brother” economy, whereby the user is constantly being monitored on their spending pattern and cash can become suspicious. This constant monitoring can reduce crimes such as tax avoidance; however, it does pose the risk of fraudulent activity, theft and subsequently leaving many people vulnerable to their online activity being passed on to third parties. Not only is fraud an issue, but many people have a surge of marketing emails for products they don’t even want due to the way online stores share their personal information. We suggest that taking a little bit of extra time to read the fine print and un-tick any boxes that subject you to this kind of activity is one way to help you become a more savvy online shopper at a lower risk.

 

Risks and Personal Security

This poses the question of our safety and security. With cash in hand, at a store or a market, you know exactly what you are getting. Online, rather than simply exchanging money there are several steps involved that require us to enter all of our details such as, our home address, telephone numbers and sometimes even a family members name and address for extra “security”. Not only does this put us at risk of having our money stolen, it puts us at risk of having all of our personal information in the digital world where people can access it at ease. On the other hand, someone might argue that fraudulent activity has been an issue since the use of physical money with counterfeit coins and notes constantly in circulation.

 

Contactless Pay

This simple tapping method for goods under £30 has become a popular way of payment and it seems to have been received well with 81.5 million contactless cards used in the UK (as of January 2016). Apple and Android work on a similar basis of having our account details stored on our phone and tapping it against a card reader as a form of payment. There are many pros and cons to this form of payment alone, many people are in favour of its ease and speed, whilst some people simply do not trust that their cards won’t be in more danger of fraud, and other people cannot trust themselves not to overspend with such ease!

 

Financial Stability

Did you know that contactless payment is merely a promise? When a company allows us to use a credit card or contactless payment within their business, it is effectively the same as them giving us a loan and we are promising to repay it. The ability for us to access money that isn’t ours, and promise that we will pay it back is not a recent development, however it is now easier than ever for us to spend money that we may not have. When we can see physical cash, we are more mindful of how we spend it. This is because our minds can process, visually, when it is all gone then we cannot spend any more, whereas when it is a value on a screen that allows us to overdraw or borrow more money, we can easily forget the risks that come with it, for example, high interest charges. So when you are next at your local, remember to take the shrapnel beside your bed before you allow yourself to splurge on your card!

 

The Future

With the vast developments in technology more and more people signed onto online banking, “E-Money” seems as though it is here to stay. Whilst some people may be skeptical of its safety and security, these technological developments are not without great amounts of research and action in order to protect and prevent any complications of its use. Although it is simple, quick and easy, we believe that there is still a place for cash and the physical monetary form. So if you’re a little bit old fashioned, like us, and have any queries about any currency or money you may have then please contact one of our experts today.


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