October 16, 2013

The power of a purchase: Canadians can now give while they spend, with Free The Children RBC Virtual Visa Debit Card

TORONTO --Purchasing power is taking on a new meaning for Canadians, as they can now help support Free The Children's charitable initiatives around the world each time they make online purchases by debit - using the new Free The Children RBC Virtual Visa Debit Card.

The new debit card, officially launched this month, allows anyone aged 14 and older to securely make purchases online, by telephone or mail order with funds debited directly from their RBC Royal Bank deposit bank account. RBC Royal Bank will then donate a portion of each purchase to Free The Children, to support its international and domestic programming.

As this is a debit card, not a credit card, there are no interest charges or annual fees associated with the use of the card; in addition, RBC Royal Bank has waived any transaction fees. Purchases are debited directly from funds in the cardholder's bank account, so cardholders know exactly how much they have spent and how much they have remaining in their account for savings and any future purchases. Moreover, daily spending limits can be customized to cardholder preferences to further manage spending.

"Through all their fundraising efforts for Free The Children, young Canadians continue to demonstrate the difference they want to make in their own communities and around the world," said Doug Collins, vice-president, Payments and Banking Services, Royal Bank of Canada. "This new debit option provides young people and adults with a convenient, safe and secure way to help create positive change by supporting Free The Children with every purchase they make.  In addition, because they can set daily spending limits for this debit card, it's a great tool for smart money management."

The cumulative power of all purchases made by Free The Children RBC Virtual Visa Debit cardholders will go toward helping Free The Children to continue to support and inspire generations of young people to make a positive change in the world. This year, donations from purchases will support Free The Children's Year of Education Initiative, with a year-long fundraising commitment to build 200 new schools in Free The Children's overseas communities.

"We know the impact small actions can have to bring about big change," said Marc Kielburger, co-founder of Free The Children. "We're honoured RBC chose our charity to partner with for this new debit card, giving socially conscious Canadians an easy way to support our international development projects."

The Free The Children RBC Virtual Debit card has daily spending limits specifically assigned to the cardholder. These spending limits can be decreased at any time and can be gradually increased based on the cardholder's comfort level. These daily limits assist with budgeting techniques for responsible spending.  As with all Visa products, the Free The Children RBC Virtual Debit card is supported by Visa's Zero Liability protection.

For more information about the Free The Children RBC Virtual Visa Debit card, please visit www.rbc.com/virtualdebit.






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