When it comes to being an anonymous donor: Who needs your identity?
The Federal Government’s Financial Transparency and Accountability Office (FTAO) is now offering anonymous donations via a service called Blm.
“There are two types of anonymous donations: direct donations and contributions from non-financial entities,” the FTAs’ new Privacy and Electronic Transactions Directorate director-general, Mark Robinson, told the ABC.
A direct donation is a direct, anonymous donation made by someone who knows the recipient.
In the case of donations from non financial entities, the recipient will then have to sign up to the Blm account to get the payment.
As for anonymous donations, the FTAO is not yet recommending the Blum service as an anonymous donation source.
For now, the only way to get an anonymous gift via Blm is to make a donation through the Financial Services Compensation Scheme (FSCS), which allows individuals to donate through the financial institutions they own.
The FSCS is the only place where people can donate directly via the banks, so for now, people will have to make their anonymous donation through Blm and then sign up for the FSC, Robinson said.
The FSFS can only be used for donations that are over $5,000.
When people make a payment, they are given a form number.
Once they have completed the form number, the financial institution must give the recipient a debit card, which the recipient can then use to make payments to the FSF.
FSCs can only accept payments of $5 or less, so if a person makes a donation of $10,000 through Blum, they will have had to pay $5 to the financial entity that made the donation.
That’s why, until Blum goes live, it’s important to make sure that the financial organisation that made your donation has a FSC to which it can access.
Blum is currently available in a number of US states, but Robinson said the service is not available to all Australians.
“It’s something that you can only access when you’re in the US, so you can’t use Blum outside of that country,” he said.
“So it’s really only available in the states where it’s legal, and in those states that it’s available to use.”
A spokesperson for the Financial Commission for Australia told the Australian Financial Review that there was currently no plans to launch a Blum alternative to the Australian Banking Centre.
“The FCA is reviewing the implementation of Blum and will decide what course of action to take in the near future,” the spokesperson said.