Time Banking

What is Time Banking ?

Time banking is a community-based system where people exchange services and skills using time as the currency, instead of traditional money. In a time bank, each hour of service is worth one “time dollar” or “time credit”.

Everyone’s hours are valued equally
There need to be no fees or taxes
but
If the government was see hours as taxable and payment in hours as feasible that would be OK
It’s a Mutual Credit system so we don’t need to have deposited hours to use hours
it is possible to exchange goods based on hours and if people want to do that there is no problem
Time Bank systems might be used in local geographic areas but it’s also possible to exchange hours for virtual (e.g IT) services