With Corona, the willingness to donate increases

C.orona has messed up the life that has been used and loved so far for most of the people and has not only left many people in financial difficulties. Especially at the beginning of the pandemic in spring, the spontaneous willingness to help was great, for example when it came to caring for older and weaker people or supporting local businesses. Currently, corona deniers in particular are making loud and unresponsive talk about themselves, but valuable, unique help can still be found in many places, both large and small.

Since the outbreak of the pandemic, social interaction has improved, says the fintech company Transferwise. On the occasion of an analysis of more than 80,000 transactions from November 2019 and October 2020, the specialist for international transfers from London found that the willingness to help has increased significantly beyond its own national borders.

Italians pay a lot

Since the beginning of the pandemic, the number of transactions that have been sent as donations or financial support to private individuals or non-profit organizations has more than tripled on average.

According to the analysis, the results of which the F.A.Z. exclusively available, so far the most frequently sent money was by far in April. People and non-profit organizations in India received particularly high levels of financial support from Germany. On average, a transfer there was 506 euros, followed by transactions to Thailand with 253 euros, Kenya (245 euros) and Mexico (241 euros), Russia (202 euros), South Africa (191 euros) and Sri Lanka and the Philippines with each 163 euros.

The analysis by Transferwise also showed that most of the money transferred for support came from Italy, with an average of 247 euros, followed by France (225 euros) and Belgium (203 euros). Germany is in fourth place with 201 euros. This is followed by Switzerland with 199 euros, Portugal with 192 euros and Norway with 189 euros, all of which are still above the overall average of 171 euros. The largest increases in the number of international aid transfers were in New Zealand, followed by Singapore, Switzerland and Australia.

The international willingness to help has increased significantly, says Pedro Martin, an analyst at Transferwise. The services of Transferwise were in greater demand, especially for transfers to structurally weak regions. According to the International Fund for Agricultural Development, consumers received cash transfers on average nine out of ten cases. However, due to national restrictions through “lockdown” measures to protect against corona, access to local providers was often denied.

In the fight against the corona pandemic, Transferwise is also cooperating with international organizations to promote the development and distribution of vaccines, says Martin. Donations to Gavi, Cepi and the United Nations Foundation are processed free of charge. Transferwise claims to have more than 9 million users who transfer an average of more than 5 billion euros per month.


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