ShipMoney launches initiative to help seafarers in need

International maritime payment solutions provider ShipMoney and the International Seafarers’ Welfare and Assistance Network (ISWAN) have launched a new initiative called ShipMoney Cares.

Managed by ISWAN, the program is available to seafarers and their families —including parents, spouses, children, and siblings — and is designed to provide one-time financial grants to seafarers in need, which could include medical or educational support. ShipMoney along with its strategic remittance partners will make a sizable annual donation to the program. There is a maximum grant of $500 and seafarers can apply once a year.

Stuart Ostrow, President of ShipMoney said: “We are very excited about this initiative. As a company, it’s very important that we give back to the community that supports us. It’s ingrained in our ethos and as one of our core values states ‘It’s always about the crew.’ They work for our clients and we work for them. Together with ISWAN, we will be able to make a real difference in the lives of seafarers who need a helping hand. Once we get this rolling, we will be engaging with our clients, vendors, strategic partners and seafarers to participate alongside us.”

Caitlin Vaughan, Project Manager at ISWAN, said the initiative differs from other welfare funds because “it is for basic individual grants of $50 – $500. Seafarers, or their family members, in need of an urgent small grant will receive a ShipMoney prepaid card allowing autonomy as to how the money is used to best alleviate their hardship.”