Timebanking is typically less formal than volunteering. People can offer their time doing what they want to do, when they want to do it (e.g. I can play scrabble with you on Tuesday evenings). They can also request help from others based on what's important to them in that moment (e.g. I need help caring for my rabbits).
So whilst volunteering is always a lovely act of giving help to the groups and organisations who need it, timebanking is more of a two-way process between people giving and receiving help. This person-centred approach helps members to articulate their individual strengths and needs, and always starts with what matters to them.
That's why timebanking can be transferred easily to other settings; for example, professionals asking for support in their field of practice or senior management offering to mentor employees from under-represented groups.
For many people, life has changed from generations gone by. Family and friends may not live nearby. Not everyone knows their neighbours. Technology may have opened our eyes to the world but may also have closed our doors to daily contact. Be it online or offline, timebanking is a rewarding way to bring people of all ages and abilities together to connect and exchange their skills for time credits.
Giving is good, for others but also for you. In fact, our brains provide a positive hit when we do things good for the health of our species and communities, and that's why we often repeat them. Giving is good for your happiness, your community, your social well-being.
The tangible payback with timebanking, of course, is that when you give an hour, you get an hour back: 1 hour = 1 credit. It's easy to earn, spend and donate time credits with your neighbours (or colleagues), and maybe even further afield.
And, of course, everyone has talents and abilities to share no matter who you are or what your circumstances. There will always be someone who values you for the strengths you have no matter how you may perceive them yourself.
For those of you thinking, 'that all sounds well and good but timebanking won't pay my bills'. That's true. Time credits rarely pays for commercial goods and services, however, it does focus on your value as a human being - connecting you to others through the process of giving and receiving.
On our platforms, for example, we often see people of different ages / locations / professions / paygrade / race / culture / backgrounds, who may not otherwise meet, form meaningful connections and friendships. Our platforms can help you to build your social or professional network.
So, in summary, whether you're walking a neighbour's dog or providing professional advice, timebanking places equal value on what you do.
The exact process of joining, and then taking part in, a timebank will depend on how the timebank coordinator (aka platform administrator) has set up their platform.
Normally, members of a platform must be approved before they can join the timebank. This is an additional safeguarding measure to ensure that all timebank members can connect and exchange with each other in a safe way, and also observe common timebanking principles as defined in your terms and conditions.
Once approved by your timebank coordinator, you can 'add an offer' or 'add a request' to the timebank freely. All timebank activities (offers and requests) are added to the 'activities' stream on your platform. You can navigate to the activites stream from your main menu.
Members can add and manage their own skill exchanges; make direct arrangements with each other and record their exchanged hours. However, the timebank coordinator can oversee all exchanges behind the scenes and help out if required. For example, they can set up sub-accounts for vulnerable users, transfer credits, manage offline exchanges and access stats. The process for both members and coordinators is very smooth.
You can receive timebank credits in 4 ways.
1. Join the timebank
- Register for your platform.
- Complete your profile and your 'Best Match' preferences.
- Apply for the timebank.
- Once approved, you will recieve an initial balance of timebanking credits.
2. Offer to help others
- Add a new offer to the timebank, offering your help to others.
- If someone requests to take up your offer, and you accept, you will receive credits when the exchange has been completed.
3. Respond to people's requests for help
- Search the timebank to find requests.
- Offer your time to help someone with their request.
- If they accept, and the exchange is completed, they will send you credits.
4. Receive donations
- Community members can choose to donate their credits to you if they don't want to spend them.
- You can contact your community admin about credits, some community admins have 'pots' that can be donated to members in need.
You can spend timebank credits in 3 ways.
1. Request help from others
- Add a new request to the timebank, asking for help from others.
- If someone offers to help you, and you accept, you will send them credits when the exchange has been completed.
2. Take up other people's offers
- Search the timebank to find offers.
- Request to take up someone's offer.
- If they accept, and the exchange is completed, you will send them credits.
3. Donate credits to others
- Community members can choose to donate their credits to others if they don't want to spend them.
- You can contact your community admin about credits, some community admins have 'pots' that you can donate to and they will distribute to members in need.