Imagine you're hosting a charity baking event to raise funds for an underserved community overseas, helping them gain access to 24/7 electricity and clean water. After reaching your fundraising goal, you send the money using a platform like PayPal, feeling a sense of accomplishment. However, days later, when you check for updates, there’s no clear confirmation that the funds have reached their intended destination. What was once excitement about making a difference quickly turns into frustration and uncertainty.

A better solution? Chimoney.

Chimoney enables seamless global payouts to over 130 countries using just an email address. In this case, the community you’re supporting can instantly redeem the funds to their registered bank account or mobile money, depending on their preference.

This article explores how global payout platforms like Chimoney can empower non-profits and community initiatives by providing a transparent, efficient, and cost-effective way to streamline international transfers.

How Global Payout Platforms Offer Transparency and Save You Money

Non-profits often face a common challenge when using traditional banking to send funds overseas: these platforms typically charge high fees for transactions and require additional payments to access many of their services. For example, just in 2023 alone, nonprofits collectively spent approximately $3 billion on transaction fees.. In other words, traditional banking platforms can be prohibitively expensive.

Unlike traditional banks, Chimoney offers transparent and affordable payment rates, with clearly disclosed fees, making it easier for nonprofits to plan and budget their funding effectively. The platform was founded by Uchi Uchibeke, who experienced firsthand the high fees of traditional banking while trying to send prize money to winners of AfriHacks, a hackathon he was hosting. With Chimoney, he was able to pay the winners without hidden fees.

Transparent pricing is just one of the many ways global payout platforms like Chimoney can empower your non-profit or community initiative. Next, let’s explore another key advantage.

Overcoming Geographical Barriers

Another common issue that nonprofits and community initiatives face when it comes to sending funds overseas is restrictions that limit them to certain countries. This limitation can be especially challenging for organizations whose mission is to provide aid to those in need, regardless of location. Unlike traditional banks, Chimoney enable transactions in over 100 countries worldwide, giving nonprofits the freedom to support their intended recipients wherever they are. With this capability, nonprofits can overcome geographical barriers and better fulfill their mission.

Ensuring Timely Fund Transfers

It may sound cliché, but "time is money" truly applies when it comes to getting funds where they’re needed—on time. Unfortunately, traditional banks often have limited transfer windows, especially for international transactions, as they must follow country-specific protocols. For instance, Bank of America customers who need to send international transfers can only do so by 5:00 pm Eastern Time, and they must use SWIFT codes, which can add delays to the process. These restrictions can hinder nonprofits by delaying the vital funds needed for their communities.

Global payout platforms like Chimoney offer fast delivery and 24/7 payment processing, allowing nonprofits to make quick, reliable transfers across borders. This means no waiting for banking hours or dealing with restrictive protocols—funds reach recipients quickly. For example, AfricaHacks uses Chimoney's bulk payout feature to reward hackathon winners. With just one click, all winners receive their payouts instantly, redeemable via bank transfers, mobile money, airtime, or gift cards.

Now, before you go, there’s just one more benefit of using global payout platforms like Chimoney for nonprofit funding.

Expanding Transfer Options

Even though traditional banks provide ways to send money, their options are often limited. For instance, Bank of America only allows users to send money internationally via its website or mobile app, while some local banks require in-person visits. This setup can be a challenge for nonprofits, as the communities they serve may lack access to these specific channels or may not have these banks in their country.

In contrast, global payout platforms like Chimoney offer a wider range of transfer methods, allowing nonprofits to choose the delivery method that best meets the needs of their organization and recipients. For example, through Chimoney’s partnership with the International Student Identity Card (ISIC), students can manage their finances more easily and send or receive funds through email, or within Chimoney app.

Now that you know the advantages of global payout systems, let’s explore how Chimoney's platform can further empower nonprofits and communities.

How Chimoney Empowers Communities and Non-profits

Before spending time searching for global payout platforms, consider Chimoney. The platform simplifies payments for non-profits, helping them receive donations from around the world through Chimoney wallets. With TryOpenGiving, an open-source platform developed by Chimoney, non-profits can accept donations via Chimoney, Interledger, and other payment methods, making financial contributions seamless and accessible for both donors and organizations.

Now It's Your Turn

Timely financial support and transparency are essential for empowering non-profits and community initiatives to drive meaningful change. With the right global payout solution, you can enhance your impact, ensuring funds reach the people who need them most. Take the first step toward transforming your community and discover how Chimoney can unlock new possibilities.

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About the Author

Christine Belzie is a technical writer and open source maintainer. Her articles have been featured on websites like FreeCodeCamp and Pieces For Developers. If you want to connect with her, check out her socials on Linktree.