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Bartercard – anyone had experience with being a member in Canberra

By kieran AP - 8 July 2009 19

Good afternoon RA hivemind,

I have been offered an opportunity to join bartercard. AS with all these thing, there are upfront costs and ongoings, so before I commit one way or the other I was wondering if anyone had any personal experience with how it works in Canberra.

Happy to discuss off line rather than in public if that suits people,


Kieran AP (0419 267792)

What’s Your opinion?

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19 Responses to
Bartercard – anyone had experience with being a member in Canberra
kieran AP 12:11 pm 09 Jul 09

#RandomGit Never said I was smart 🙂

Ivan76 10:59 am 09 Jul 09

You will likely have trouble spending your trade dollars.

You can get the initial setup costs (salespersons commission) waved if you really want to join. I would keep telling the salesman you are concerned about not being able to spend your trade dollars until he drops the setup costs which he definately can do.

RandomGit 9:18 am 09 Jul 09

If you need to ask people about the value of someone selling magic money beans then Keiran my friend, you are already halfway up the vine.

Get sliding.

kieran AP 9:16 am 09 Jul 09

ok, I think that is a fairly convincing argument!

Thanks one and all.

adam smith 10:15 pm 08 Jul 09

dont even think about it. it is very hard to get rid of barter dollars and therefore prices are incredibly inflated.
the best example of the batercard rort is that bartercard itself doesn’t let you pay their fees using barter dollars. they only accept cash!

bd84 8:55 pm 08 Jul 09

A resounding run for your life verdict there..

cranky 8:02 pm 08 Jul 09

I’m with harvyk1 above.

The only ones winding up with spendable currency in their pocket is Barter Card themselves.

Bet the admin fees arn’t on Barter Card.

harvyk1 7:45 pm 08 Jul 09

As others have said, the problem with exclusive currency clubs is that you can only spend the currency with others in the club.

Steer clear of Barter Card, I have yet to hear anyone with only positive experiences with them.

Woody Mann-Caruso 6:00 pm 08 Jul 09

There’s a reason why pretty much every civilisation on the planet uses some form of currency.

Whatsup 5:56 pm 08 Jul 09

My friends small business accepted bartercard as payment for goods. When she decided that she wanted to trade her points it was like mission impossible. She eventually found something to use her points on, but the value of them was stuff all resulting in a substantial loss. She has declared that cash is the only reliable thing to use.

barking toad 4:44 pm 08 Jul 09

Cash is king!

Clown Killer 3:59 pm 08 Jul 09

Don’t even touch it with a stick.

AlpineViper 3:25 pm 08 Jul 09

A friend got paid with barter card once after a computer job she did for someone. She found it damn near impossible to use the value she got on the card. After the ordeal she went through I’d suggest just steering clear.

Skidbladnir 3:24 pm 08 Jul 09

I have no direct experience, only the second-hand anecdotes of some of our previous customers who found that they were incredibly difficult to get rid of, but as the BarterCredits are treated by the ATO as ‘money’ for income tax liability (ie: carry the same notional value as legal fiat currency) so you’re sitting on a pile of taxable asset, but thanks to a different ATO ruling are ‘not money’ for Superannuation purposes.

Another downside is the risk of rampant devaluation in the private currency, so you may find you are are forced to use vastly more of them than the same value in hard currency to buy similar goods from fewer suppliers to actually realise the ‘value’.

pptvb 2:20 pm 08 Jul 09

I’ve a few friends who joined.
It cost them a bit because they couldn’t get rid of the Barter dollars.
Another company I worked for tried to use them as wages to get rid of the crippling build up.

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