Virgin gives up on charity site
IT’S COSTING TOO MUCH, SAYS BANK
BIG bank Virgin Money is to shut its charitable giving website to cut costs.
Virgin Money Giving will close to donations at the end of November, following the final London Marathon that it will sponsor.
Virgin Money, which merged with Clydesdale Bank in late 2019, blamed the “significant investment required in the service for it to remain competitive”.
However, the move risks a backlash from charities and givers, and the closure will lead to up to 26 job losses.
Virgin Money, set up by billionaire Sir Richard
Branson, launched the charity donations website in 2009 as a not-for-profit venture and it has raised more than £900millon.
Helen Page, chief brand officer at Virgin Money, said: “Following the end of our sponsorship of the London Marathon it is the right time to bring the service to a close and help our charity partners to move to an alternative and sustainable giving platform.”
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