Bartercard operates as a “Trade Exchange” and has transformed the traditional way of simple direct bartering into a modern business tool to meet the demanding needs of today’s businesses. Through the latest technology and bank-like systems Bartercard has created a flexible, secure and fully accountable way for businesses to barter trade their goods and services now indirectly with businesses all around the country and the world.
Bartercard facilitates and monitors the purchases (debits) and sales (credits) undertaken by members. These transactions are recorded electronically and its members receive a monthly statement that summarizes their transactions. Bartercard provides various methods to make it easy for its members to transact; and Eftpos enabled card, phone application with transactional capabilities, and online transactional options. In addition, Bartercard promotes member business and maintains and updates a member business directory.
How much does it cost to join?
That depends! Bartercard offers different levels of membership. Depending on your business' situation, its size and capacity to trade in the Bartercard system will determine which level is best for your particular business.
Are there any ongoing fees?
Yes. Bartercard charges a monthly account-keeping fee and a transaction fee for all sales and purchases made through the system.
Do I have to own a business to become a Bartercard member?
Yes! Bartercard is a business-to-business transaction card. You’ll need to be in the position to sell a product or service to be eligible to be a member of Bartercard.
What can Bartercard do for my business?
Bartercard's primary objectives are to assist businesses to increases their sales, offset cash expenses, and improve their overall cashflow. If you are looking for extra business, or wanting to conserve cash in your business, join Bartercard today.
How does Bartercard bring me business?
Bartercard promotes each member's business through its printed and online directory, Auction site and eMARKETplace, e-newsletters, networking functions and through a personally assigned Account Manager.
What can I buy with Bartercard / on Trade?
You can buy anything from Accommodation to entry into a Zoo and everything in between! When you join Bartercard, you will be assigned an Account Manager who will work with you to source products and services for your business and lifestyle.
Can I use my Bartercard overseas?
Yes! Bartercard is a multinational company with offices situated in the UK, New Zealand, Thailand, UAE, and Cyprus. Members are able to spend their Trade Pounds in any of these locations.
Do barter transactions include VAT?
If your business is registered for VAT, yes! Members should treat a Trade Pound as they would a cash pound from a tax perspective. Barter transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions. Therefore, the advantages and disadvantages are similar to ordinary cash revenue or expenses.
How do I claim Bartercard transactions on my tax?
Bartercard transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions. When a Bartercard member makes a taxable supply to another member there is a liability for tax, including VAT.
Is it real money?
Yes! For taxation purposes the HM Revenue and Customs considers one Trade Pound (T£1) to be equal to one United Kingdom pound (£1).
Do I have to take 100% Trade?
Yes, you do! Bartercard operates a Fair Trade or No Trade Policy and expects all members to sell their products and services at 100% Trade. This ensures every member conserves cash in their business and gets value for their Trade Pound.
Can I limit the amount of trading I Do?
Yes, you can limit the amount of trading you do. Bartercard members typically trade about 10% to 15% of their total business turnover. We understand there are times when you may be operating at full capacity for a period or seasonally at your peak. In consultations with your local Account Manager (Trade Co-ordinator) you work out a plan to ascertain the amount of trading that best suits you and your business. You can start slowly and as you work with us to bring on more suppliers of your choice you can increase the amount of trade you do.” Many of our top trading members have been successful in getting their major suppliers on board and have increased their trading to over 100% of their business original turnover.”