Global Coin Solutions, a company based in Ontario, specializes in cash management and foreign currency fundraising. The company estimates that there is between two and three billion dollars in foreign currency in Canada that is not being used. They have processed around $25 million through their Toronto facility, mostly for charities. Taking an “Any currency, any amount” approach, the company works with different charities to arrange for funds to be sent to their office for processing. The currency is then documented, weighed, organized, and sent back to the country of origin, after which the charity receives payment and the company collects a fee.
In 2020, Currency for Kids was launched as a partnership between Global Coin Solutions and several children’s charities in Ontario. The proceeds from this initiative are sent to a dozen children’s aid foundations in the province. People from across Canada have sent in their foreign currency to support the cause, and the initiative has processed over $50,000 worth of currency value. The executive director of the Children’s Aid Foundation of Ottawa mentioned that many people were going to throw out their foreign currency before hearing about the initiative, highlighting the impact that a simple act of donating leftover coins can have.
The founder and president of Global Coin Solutions, Scott Hutchings, is passionate about making a difference for those in need. He emphasizes the importance of not letting foreign currency go to waste and encourages people to think twice about the change their leftover coins could inspire. The company’s meticulous process of sorting through currency by hand ensures that funds are properly accounted for and processed. With a focus on supporting charities and children’s aid foundations, Global Coin Solutions aims to create positive change through their fundraising efforts.
The company’s Toronto facility serves as a hub for processing foreign currency and cash management. The walls of Hutchings’ office are filled with various currencies from around the world, a visual representation of the donations received. The repatriation process involves shipping the processed money back to its country of origin, ensuring that the funds reach those they are intended for. Global Coin Solutions collaborates with different charities to support their fundraising initiatives and provide them with much-needed financial support, helping these organizations make a difference in their communities.
Through their work with various charities and fundraising initiatives, Global Coin Solutions has processed millions of dollars in foreign currency, benefiting those in need. The company’s commitment to making a positive impact through their services has led to partnerships with children’s charities and aid foundations in Ontario. By encouraging people to donate their leftover foreign currency, Global Coin Solutions aims to raise awareness about the potential impact of small donations and inspire others to contribute to meaningful causes. The company’s dedication to ensuring that foreign currency is put to good use reflects their mission to effect change and support those most in need.
