Timebanking enables exchanges to take place within a community without the need for money. It's a flexible way to get to know people and help each other out in the community by giving as much or as little as you can.
Timebanking allows people to exchange their time and skills for 'time credits'. These time credits can then be spent with others in the community. Everyone's time is valued equally and one hour of help earns one credit. All sorts of things can be exchanged; from gardening, cooking and shopping, to learning or teaching an instrument or language.
Here’s an example of how the system works:
1. You volunteer one hour of your time to teach someone a new language.
2. This earns you one time credit.
3. You spend this credit with someone helping you in your garden for one hour.
There are always participants who are able to earn more credits than others. They can donate some of their credits to fellow members, or to a community pot and "top up" other accounts. Individuals, groups or organisations can sign up to become members of their local Timebank, or can help plan and create a new local Timebank.
When you join a Timebank a 'time broker' will chat with each new member to find out more about them, what they can offer to others and what they would like to receive in exchange for their time. The time broker helps members make exchanges and introduces them to a simple website where members can add and search offers or requests directly, if they feel able to do so.
Exchanges are recorded and each member has their own account showing how many time credits they have earned and spent.
Please see the video below which provides more detail about Timebanking and explains the working of a current Timebank in Essex.
Timebanking in Surrey
Across Surrey there is now a network of Timebanks which are accepting members and exchanging time in their communities. Click on the links below to find the details of a Timebank in your area.
If you are interested in creating a Timebank or need further information take a look at Timebanking in Surrey.
You can also visit Timebanking UK, which is the UK wide organisation responsible for Timebanking, for more information.