Eco-friendly fintech helps users clean up the oceans as they spend

By Aisling Finn on Thursday 22 April 2021

Digital Banking

Currensea will remove 100 bottles on behalf of their customers every time they spend £1 abroad.

Eco-friendly fintech helps users clean up the oceans as they spend
Image source: James Lynn (left)/Currensea

 

Currently, 12.7m tonnes of plastic is dumped into the world’s oceans every year and today, on the 51st annual Earth Day, a fintech has launched an initiative to help alleviate its customers’ contribution to the problem.

Currensea, a direct debit travel card, has joined forces with Plastic Bank so that customers can use their Currensea savings to clean up the oceans.

The eco-conscious travel card links directly to an existing bank account, allowing its users to spend money in their highstreet bank account without any of the normally extortionate charges. 

For every £1 a Currensea user contributes, 100 plastic bottles will be removed from the ocean on their behalf. 

“We’re all itching to go abroad once the international travel restrictions lift and it is safe to do so. But, as our research shows, this has also been a period for consumers to reflect on the impact their lifestyles have on the environment, alongside what they can do to live more sustainably,” James Lynn, co-founder of Currensea, said. 

“Sea is in our name for a reason. As a company, we care about the planet and are delighted to be able to give our customers another way to offset the impact of their travel, all while saving on their travel expenditure.” 

Customers will also be able to track how many plastic bottles they’ve helped to remove from the ocean in the Currensea app.

As well as helping their customers remove plastic from the oceans, Currensea is also planning to remove two and a half times the amount of plastic they produce every year from the world’s oceans too.

A recent survey, conducted by Currensea, found that Brits ranked their concern about the environment at a nine out of ten, with 82 per cent directly associating sustainability with less use of non-recyclable plastic.

Currensea is not the first fintech to adopt an eco-friendly approach to fintech.

Dutch challenger bank Bunq was one of the first companies to offer its customers the chance to plant trees when they spend, something that Currensea also offers in partnership with One Tree Planted, successfully planting 2.8m trees to date.

Starling Bank also recently began offering its customers debit cards made out of recycled plastic and will plant a tree on behalf of their customers for every successful referral.

Other green fintechs on the scene include green debit card Tred, which helps users reduce and offset their carbon footprint every time they use their Tred card, and portfolio checker Sugi, which checks how sustainable a person’s investment portfolio is and even if it’s in line with the 2°C Paris Agreement target.

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