FAQ's

As a member of The TimeXchange before entering into any exchanges please read all FAQS, our How It Works page and watch our videos which are located on the How It Works page in the information section. If you are not sure on any aspect of the platform or exchanging please don't hesitate to contact us by live chat or email.

The categories are where ads are located and are designed to make searching for ads easier. Each category is giving you different alternatives and will give you a brief description on what ads that particular category holds.

An exchange is when two members of The TimeXchange agree on exchanging their services or goods with one another. A simple example could be when a plasterer would plaster a painters house and in return the painter will paint the plasterers house.

A group exchange can work in different ways. Firstly there can be many people in a group exchange just as long as each person in the group requires something from another member in the group. Secondly, a simple group exchange could be 3 members of the platform that require something from each other indirectly for example, John needs something from Ian, Ian needs something from Jim and Jim needs something from John. This is a chain with each member being a link that will connect to the next link until the last link connects to the first link to complete the chain which is the same as each member passing on what they have to the next member until it comes round full circle so everyone gets what they require.

After members of The TimeXchange have agreed on an exchange, they can request to go through an online agreement which is located in each members account. Creating an online agreement is the process of entering into a bond where all members that made an agreement will secure their exchange with a deposit of funds. This will mean the exchange is documented and each member in the agreement is contractually bound by the terms and conditions of The TimeXchange.

When members of The TimeXchange connect to exchange services or goods and without entering an online agreement they enter into an exchange with one another offline.

"My Wallet" is a digital wallet that can be used to transfer funds instantly through the site. However at the moment it's one use is if users want to transfer funds from the wallet to use as a deposit when securing exchanges.

The Bond is a term that describes members of The TimeXchange creating an online agreement then using their funds as a deposit on their exchange, therefore creating a bond between each member in the exchange.

Most people barter or exchange in their small networks the reason being they know and trust the people in their network. We wanted to create an online community where people can connect with someone they don't know to exchange goods and services the problem is will anyone trust someone they don't know and if they do will you get a fair exchange. We thought if people use money as a deposit to secure their exchange there is a higher probability of a successful exchange. A similar exchange happens when a landlord rents a property. He will rent a property to someone he might not know, a deposit will be taken incase of any damage and the tennant will pay a deposit to show good intentions of taking care of the property. If the same mind set happens in an exchange it will have a positive outcome.

All deposits on exchanges are returned at the same time to all members that are in the exchange. All members in the exchange have got to agree collectively on all deposits being returned to each member. If a member doesn't agree on the deposits being returned this could mean they are unhappy with the outcome of the exchange. Please read " What should I do if I don't get the exchange I agreed on? " in this FAQ section.

The details on a deposit are registered with the admin of the site. During an exchange deposits are held in The TimeXchange client deposit account. 

The TimeXchange is a free service there is no fees. As a member if you use a deposit to secure an exchange, the payment gateway will transfer your payment and take a fee for their service. The admin of the site will pass that charge to the member transferring their funds.