Frequently Asked Questions

What is Olive?

Donating to charity is hard. It takes time to find non-profits you support, do your research, and make donations happen with any frequency. And most people don't realize that even small donations can have a large impact over time.

That's where Olive comes in. We help you round up the digital spare change from your credit or debit card spending and donate the amount to one of the vetted non-profits on our platform, automatically every month. That way you can feel good about spending money, knowing the change will help make a difference.

Our first features; We help users round up the "digital change" from their credit or debit card accounts every month, and then automatically send that amount to the non-profit of their choice!

Our goal is to help raise money and awareness for non-profits around the world and enable everyone to contribute to a better society, one piece of digital spare change at a time.

How does Olive work?

Pick an NGO that you love.
Signup for an account, then link your debit or credit card account and Olive will automatically calculate and sum up your digital spare change from the past month.
Next setup secure payment with Stripe for monthly donations - thats it!
PS. You can check on the impact of your donations by visiting your Dashboard

What is “digital spare change”?

Digital spare change is the spare change you get back when you purchase an item or service with your credit or debit card. When you buy lunch for $7.80, the spare change is the 20c left over.

How is spare change calculated?

Olive adds up all of your spare change every month by rounding up each transaction on your bank or credit card statement then subtracting the purchase amount from that figure. The spare change from each transaction is summed up to reach your monthly donation amount.

Can you estimate my spare change?

Based on historical averages the typical user’s spare change will amount to approximately 1% of monthly spending, or $10 in change for every $1000 in spending.

What type of account can I link?

If you are in the US, Canada and UK, we offer the ability to link most debit cards and credit cards. We are working hard to bring this feature to other regions!

The other feature; you can simply add your donations amount that you desire to commit, We strongly recommend to donate 1% on your total spend every month

Is my banking information secure?

Yes, we work with major fintech providers, including Stripe and Plaid, to ensure your account information is secure. We do not store any user account information or payment information on our servers. After analyzing your monthly statements all user financial data are destroyed with the exception of the donation amount.

When will my donations be paid from my account?

When you set up your account, we help you make your first donation. After that, every month on the same day of your account creation we will round up your spare change and initiate a donation transaction on your behalf.

Can I donate in my local currency?

Yes, we partner with Stripe to accept over 130 currencies and payment methods!

Can I pause or stop my contributions?

Yes, from your Dashboard you can Pause Donations or Cancel Your Account.

How much does Olive cost?

In order to fund operations and grow our platform we currently take up to 5c from every dollar donated, however our goal is to reduce that figure as the number of users grows. Help us achieve our goal and increase the amount of money we can send to non-profits by sharing Olive with your friends!

What makes Olive unique?

Our focus is on enabling users from any country to donate to non-profits in any country, seamlessly. We are a global first company and believe donors and non-profits can make a difference anywhere, regardless of borders.

Is Olive a non-profit? A corporation?

Olive is a Benefit Corporation, and was formed with the sole purpose of helping people donate to non-profits. We measure our impact by the amount of money we are able to help donate, and the social impact of those donations. Being a Benefit Corporation means we are committing to a higher standard of purpose, accountability, and transparency, which aligns with our stated goals. We believe our choice in structure will best enable us to remain nimble, grow our reach, and effectively meet our goals.

Who is Olive?

The founders are Marisa Paramita and Mark Swaringen. We are both passionate about using technology to build products that will have a positive impact on society. Marisa spent several years launching products for Uber and Mark spent his early career in the investment management industry, where he developed an appreciation for compounding returns and the impact investment can have on various industries. The concept of Olive, using payment technology to better grow and allocate donations to non-profit entities, is the perfect opportunity for him to put his skills to better use and help grow an industry-changing idea..

What is Olive Mission?

We have big mission: Imagine the spare change from every transaction in the world, how much that would be? And imagine if there was a way to funnel those extra pennies to non-profits. How many impact that will be created?.

We think enabling customers to seamlessly contribute to causes they believe in is a growing necessity for financial institutions who need to be aligned with their customer's values. We want to help them accomplish this by integrating with the Olive platform through our upcoming API.