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Charities fear
losing out on donations made to them by credit and debit card because of new banking rules.
The Institute of Fundraising claims that from April charities will required the three digit security code from the back of credit and debit cards when accepting donations in a "card not present" situation, prompting fears of a reduction in the amount of donations made.
The codes have to destroyed after every transaction, but traditionally charity forms have Gift Aid declarations on them which must be kept.
Charity chiefs have been warned banks could refuse to process payments without the card codes.
Megan Pacey, of the Institute of Fundraising, stated: "The changes create significant challenges for many UK fundraisers.
The timescale within which charities are expected to turn around these changes are largely unrealistic.
The credit companies are also demonstrating a complete lack of understanding about the sector and the other information charities are required to collect."
Source:
Getting Paid
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