Venezuelan bank Banesco launches transaction-based fundraiser for earthquake victims

Banesco, a prominent private bank in Venezuela, has initiated a new fundraising campaign to support those affected by the earthquakes that struck on June 24. The initiative, titled "Transactions with Purpose," aims to channel financial aid directly to three key organizations: the San Juan de Dios Hospital, the Children's Orthopedic Hospital, and the non-profit Fundana.

The campaign's unique mechanism involves Banesco donating one Venezuelan bolívar (Bs. 1.00) for every transaction processed at its point-of-sale (POS) terminals, regardless of the issuing bank. This strategy leverages the bank's extensive network, which handles over 80 million transactions monthly across its POS systems. The collected funds will be divided equally among the three beneficiary organizations, all of which are actively involved in assisting earthquake survivors.

"Banesco aims to transform millions of transactions into aid" through this campaign, which is set to run until July 31. The bank highlighted that this effort is part of a broader national and international solidarity movement responding to the devastating emergency. The initiative seeks to provide tangible support to hospitals and organizations working on the front lines of recovery and care for those impacted by the disaster.

In addition to the "Transactions with Purpose" campaign, Banesco has maintained other digital channels for contributions from individuals and corporations. These include support for the "Fuerza Venezuela" campaign, managed by the Dividendo Voluntario para la Comunidad in partnership with Cáritas Venezuela, and the "Duplica tu impacto" initiative with the Venezuelan Red Cross, where Banesco matches donations made to the organization. For international donors, Banesco branches in Panama, the USA, the Dominican Republic, and Abanca offer digital platforms for contributions to the Venezuelan Red Cross.