Ramsdens in Barry, the popular currency exchange provider and financial services business, has launched a new initiative to encourage shoppers to transform their unwanted and unused foreign currency into much needed funds for local charities.

The Loose Change initiative will see each of Ramsdens's 157 stores across the country introduce an unwanted currency collection point.

Throughout the year, Ramsdens stores will convert the currencies and donate the money to a local charity of their choice.

At Ramsdens in Barry they have chosen to support the Blue Cross Charity, whilst Ramsdens Newport has chosen Cancer Research due to the fantastic work that they do in the area.

The new Loose Change initiative follows research commissioned by Ramsdens Currency which revealed that Brits are hoarding on average £60.78 in foreign currencies at home.

Nearly a fifth of the respondents (17.8%) don't bother converting their coins back into British Pounds as they believe it to be too much hassle.

This cash could be used to help support local charities which so desperately need it, so Ramsdens is calling on locals to pop into their local store to drop off their coins and be part of this positive change

Peter Kenyon, Chief Executive at Ramsdens Currency, said: "Most holidaymakers forget all about their leftover currency when they come home from a holiday, especially the loose change which more often than not ends up gathering dust or in the back of a drawer. But, with so much cash sitting at home, we're urging our customers, and those within the local communities where we operate, to give generously and put their unwanted pennies to good use through our Loose Change initiative."

The Loose Change initiative launched this month and sees Ramsdens' 157 stores support over 125 charities throughout the UK. To donate, simply visit your local store and speak to a member of the team.