Can I buy or sell things on Timebank.cc?

Timebank.cc is used as a platform to exchange skills and services. If you used your skills to create a product, it’s possible to exchange the product for the amount of Hours spent creating it. Materials are paid in Euros or your other regular currency.

What about costs for materials/fuel/ingredients that cannot be covered by time?

Just pay them in Euros! For example, moving itself can take up to 5 Hours, however the fuel costs cannot be converted to time. So 3 Euros need to be paid to cover the fuel expenses.

I’m planning to give a workshop to a group. I also need to cover some costs in Euros. How much do I charge per person for attending my workshop?

Keep in mind that 1 hour of your work costs exactly 1,00 Timebank Hour. If you have costs you need to cover in Euros for this exchange, you should ask for payment in Euros in addition to Hours owed. For example:

Dance workshop:
1 hour of preparation time
1,5 hour of actual teaching time
€ 30 of studio rent for that day

5 persons attend the workshop on Monday
1  person attends the workshop on Wednesday

You spend on Monday 2,5 hours and €30 in total for this workshop for 5 persons. The price per person is:

2,50 H / 5 people = 0,5 H per person
€30 / 5 people = € 6 per person
So each person pays you 0,50 H and € 6.

On Wednesday you also spend 2,50 hours and €30 in total for this workshop, but now only for 1 person. The price will be:

2,50 H / 1 = 2,50 H
€30 / 1 = € 30
So this private workshop will cost 2,50 H and € 30.

A common mistake is to think that if you give a 1 H workshop, each person should pay you 1 H. This is incorrect because your students did not work. It was only you who worked.

Is there a quality check for services offered through Timebank.cc?

No, we do not have quality control. We are a bank and a community, not a business, so we do not screen the users that use our platform. Users are responsible for screening who they’re hiring. This is the same process with any other currency.

For example, when you are considering which restaurant to spend your euros on, you usually check websites, online menus, and yelp reviews before making a decision.

In Timebank.cc, you can check another time banker’s profile to see what they’ve written about themselves, or go into account activity and view how many exchanges another time banker has made.

You can also message the user directly to give them further details about your request, ask them for their credentials, and see if they’re a match for your job/project.

How can I trust another user? What if I’m not happy with the exchange?

Make sure you both clearly know what you expect from the exchange before you actually start. How much time is expected and what budget is available is essential.  If for any reason you’re not happy with an exchange, try to solve it with one another. Timebank only facilitates a transactions system based on time, we cannot intermediate a dispute between users.