How to - TRANSFER member account & hours to another timebank

For this example Jane is moving to a new city and wants to move her timebank account from West Coast Timebank to North Side Timebank. Jane has 76.5 hours on her account in West Coast Timebank which she wants to move them to a new account in North Side Timebank.

Prerequisite: The coordinators of both West Coast Timebank and North Side Timebank  agree to transfer the hours in a bilateral agreement.

 

Steps for Jane to take:

  1. Jane creates her new account in North Side Timebank and is approved by the coordinator.
  2. Then requests the transfer of hours by writing to both the West Coast Timebank Coordinator and the North Side Timebank Coordinator.

The West Coast Timebank - steps:

  1. The North Side Timebank Coordinator creates a new account in the West Coast Timebank named (for example) “North Side Timebank Transfer,” and that is then approved by the West Coast Timebank coordinator.

  2. Jane has 76.5 hours on her account in West Coast Timebank. The West Coast Timebank Coordinator transfers the all the hours from Jane's account to the “North Side Timebank Transfer” account in West Coast Timebank by reporting an exchange between the two accounts and adding a description that identifies the reason for the exchange. Community Weaver will notify the email address of Jane's account about this transfer of hours. Jane's account in West Coast Timebank will now show 0 hours and the “North Side Timebank Transfer” account in the West Coast Timebank shows a balance of +76.5 hours.

  3. The West Coast Timebank Coordinator also informs the North Side Timebank Coordinator about the transfer and the person it is intended for.

 

The North Side Timebank - steps:

  1. The West Coast Timebank Coordinator creates a new account in North Side Timebank named (for example) “West Coast Timebank transfer,” that is then approved by the North Side Timebank coordinator.

  2. The North Side Timebank Coordinator transfers 76.5 hours from “West Coast Timebank transfer” account to Jane's new account in the North Side Timebank by reporting an exchange between the two accounts and adding a description that identifies the reason for the exchange. Community Weaver will notify the email address of Jane's account about this transfer of hours. Now the “West Coast Timebank transfer” account has a balance of -76.5 hours and Jane's new account in the North Side Timebank shows a balance of +76.5 hours.

  3. The North Side Timebank Coordinator also informs the West Coast Timebank Coordinator about the transfer and the person it is intended for.

 

Any time that West Coast Timebank Coordinator and North Side Timebank Coordinator can compare the hours exchanges and the balance of their respective transfer accounts and can see which hours were transferred out and for whom. If the accounts were only used for transfer to hours between West Coast Timebank and North Side Timebank, or vice versa, the sum of both accounts should always equal zero.

Advantage - the transfer can be done quickly when the coordinators of two timebanks agree to this method. Each TB coordinator can review the transfers to and from the other TB by logging in to their transfer account in the other TB's site.

Disadvantage - each timebank will need to create an account for each other timebank that participates in a transfer of hours. If there are transfers with many different timebanks, this could increase the coordinators work managing the many transfer accounts. Also, documenting and the tracking of exchanges/transfers between timebanks may require a method outside of CW, for example a spread sheet.

 

Variation:

Both timebanks each set up an "internal" account named "Transfer” which is used for all transfers to any other timebank.

Advantage - the transfer can be done quickly when the coordinators of 2 timebank agree to this method. Only one transfer account needs to be set up.

Disadvantage - Documenting and the tracking of exchanges/transfers between a number of different timebanks will require an 'accounting' method outside of CW, for example a spread sheet or something like that. Each TB coordinator cannot review their transfers in an account in the other TB.