The spirit of giving should not end even when spending.
Members Equity Bank, which is owned by Australia’s leading industry superannuation funds, offers a chance to give while spending.
ME Bank in conjunction with the National Breast Cancer Foundation offers the PINK Debit MasterCard, a debit card that will raise funds for research each time it is used.
According to research, breast cancer is one of the leading causes of cancer death among women in Australia, taking 2600 lives each year.
The foundation expects about 14,000 cases to be diagnosed this year, including at least 100 cases in men. To date, the National Breast Cancer Foundation has allocated more than $74 million to more than 300 research projects in Australia.
How exactly does giving by spending with the PINK Debit MasterCard work?
Every time someone makes a purchase using the PINK debit card, ME Bank will donate 1 cent to the National Breast Cancer Foundation’s research projects.
Doing the math, one person using the card for cash withdrawals and purchases a dozen times a week would raise about 50 cents a month, or $6 a year, for research. Considering the rising popularity of debit cards, ME Bank and the foundation hope many thousands of people will use the card.
Consumers can obtain a PINK Debit MasterCard by signing up for an ME Bank EveryDay Transaction Account through a branch or on its website.
The advantage of using the PINK Debit MasterCard is that it makes giving automatic, easy and painless. However, the benefits will depend on how many people take it up.
Ian Hendey, ME Bank’s group executive, brand, product and distribution, says the card is an opportunity for Australians to “support breast cancer research without draining their wallet”.
He notes debit cards are increasingly popular. Reserve Bank data shows the average family uses one for about half their monthly purchases these days.
ME Bank projects the PINK card transactions to generate more than $300,000 for the National Breast Cancer Foundation within three years.
The card comes with a low one-off card fee of $10. There is a $5 monthly fee on the transaction account to which it is attached, but offers no monthly fee for industry super fund and union members who deposit just $500 per month into their account.
The PINK Debit MasterCard also offers access to 15 free transactions per month at more than 3,000 ATMs across Australia as well as use of Tap & Go™ with MasterCard PayPass™ for a faster way to pay.
Do note that it is ME Bank making the 1¢ donation, which means customers do not earn the tax deduction.
Consumers will choose this card – as opposed to the Lime or Metallic versions also available with this account – because they want to help fund cancer research, even in a small way. For those who prefer pink over lime or metallic, giving is an added bonus.
There is truth to the PINK Debit MasterCard that “together we can do more every day for breast cancer research.”