[Glossary](https://pecuvo.eu/en/glossary/) · Money and currencies # Time bank **In short:** A time bank is a community system in which people exchange services for hours: one hour of work equals one hour of work, whatever the service. **Simply put:** The idea comes from the American lawyer Edgar Cahn (1980s). It gives value to people who have time and skills but little money — older people, the unemployed, students — and builds trust and connections. Its weak points: hours are not easily exchanged for euros, the system is hard to scale, and it needs a coordinator and clear rules, or it soon falls apart. **Example:** Maria helps a neighbour with her shopping for an hour and gets one hour in the register. She later uses it for an hour of maths tutoring for her son — a lesson she would otherwise pay a fictional €20 for. **Watch out:** A time bank is not free — it costs time and organisation. If you regularly work for "credits" or "points", that may count as income with tax consequences. > **Check in your country** — ask your tax authority whether regular work for time credits counts as income. **Source:** Edgar Cahn, *No More Throw-Away People* (2000) and https://timebanks.org ## In depth in the modules - [Module 6](https://pecuvo.eu/en/modules/alternatives-to-money/) ## Related terms - [Barter](https://pecuvo.eu/en/glossary/barter/) - [Giving (donating)](https://pecuvo.eu/en/glossary/giving/) - [Cooperative](https://pecuvo.eu/en/glossary/cooperative/) - [Non-profit organisation](https://pecuvo.eu/en/glossary/non-profit-organisation/)