The bank where the currency is time, not money

Time banks have spread around the world in recent decades. In Brazil, Florianópolis has one of the first initiatives of its kind, with more than 20,000 participants exchanging services ranging from paintings to English lessons. “Time is money.” What if the famous phrase, said by Benjamin Franklin in the 18th century, were changed to “time is life”? That’s how environmental activists and residents of Florianópolis, in Santa Catarina, decided to address the issue 9 years ago.

The group, which met periodically to discuss various topics, changed its perception of money and society even further after watching the film Zeitgeist (spirit of the times, in a free translation from German), in which Peter Joseph takes a critical look at the manipulation of the masses by large institutions, governments and economic powers. Inspired by this idea, these residents and activists created the time bank in September 2015, a solidarity network that transforms time into currency, connecting people and services.

“There was already a small bank in Garopaba, also in Santa Catarina, which was inspired by the one in Portugal. Later, they brought the idea and adapted it to Florianópolis,” says Adriana Klin, a biologist and facilitator of the bank in the capital of Santa Catarina.

Attorney Edgar Cahn helped popularize the idea in the United States in the 1980s and 1990s and became known as the founder of modern time banking, establishing the term TimeBank as a trademark. He created the concept of time banking, initially called time dollars, a new currency for exchanging time instead of money.

Today, there are time banks all over the world. In Italy, for example, similar initiatives began in the early 1990s. In 2002, the idea reached Portugal, where there are now several time bank branches. There is no official count of how many such banks exist worldwide.

In Brazil, the Florianópolis Time Bank (BTF) was one of the first and is currently considered a reference in the country.

It was on the bank’s first anniversary that the institution gained momentum. Residents gathered for a party, which was broadcast on a local TV station, which attracted new members. “The group then grew to over 10,000 people,” recalls Klin. It operates through a Facebook group, which now has over 20,000 members, most of whom are women.

From massages to plant seedlings

To participate, the person must request access to the Florianópolis Time Bank group on the social network and, once admitted by those responsible for the account, they must fill out a form with their skills and personal data.

“We usually ask you to register a talent that fulfills you, that makes you feel fulfilled. This skill doesn’t always have to be related to money. It’s something you do very well,” explains Gilvana da Silva Machado, one of the BTF facilitators who has been actively participating in the exchanges since February 2017.

Due to the success and positive reception in the city, the facilitators, as the page administrators are called, intend to make improvements so that the idea continues and reaches more people. During the COVID-19 pandemic, they allowed residents from other cities and states to participate and experience the exchanges.

As Facebook is falling into disuse, they say they are studying the possibility of creating a website or application to concentrate participant registrations and keep the time bank active.

In time banking, there is no money involved. One hour of gardening is equivalent to one hour of massage, for example. The user simply posts a service request or offers something on the page and waits for interested parties to contact him.

You “pay” with hours, which can be used to request another activity in the future, creating a cycle of collaboration and reciprocity. In practice, if an individual has baked a cake and spent two hours on the process, when they make the food available to someone else, they will receive their hours in the bank. Everything is controlled within an internally managed spreadsheet.

All types of services are accepted: English classes, crochet pieces, massages, food offerings, plant seedlings and many others.

Machado says she has used the bank’s services several times. One of the most memorable was when she needed to find a doula to accompany her during her pregnancy. “At the time, I didn’t have much money and proposed the idea. I explained how it worked and she registered her talent with the bank,” she says.

“One of my talents was tarot, but as the doula’s assistance involved around 20 hours, I was offering and exchanging until I completed the hours”, she explains.

Sense of community

The visual artist Maria Selenir dos Santos, 56, from Rio Grande do Sul, discovered the time bank in 2017. When she joined the BTF, she offered her paintings. All of her work was done in a sustainable way, which, according to her, was in line with the institution.

“I saw a lot of purpose in the bank, and it had to do with my research. A work of raising awareness that it is possible to live in harmony and without industrial intervention,” he says.

For two years, he actively participated in the bank, which allowed him to meet many people and connect even more with local residents.

Since 2017, Maria has exchanged more than 100 paintings she has painted. When she left the island in 2019, she even took a piece of furniture that she also received through the BTF. Today, she lives in Brasília and participates in the bank online, whenever possible.

In addition to the material items, the woman from Rio Grande do Sul emphasizes that the main benefit of the initiative was the humanization of social relations. “At the bank, I felt like I was living within a community for the first time. It wasn’t financial, but rather a partnership.”

In addition to the paintings, she has offered Tai Chi Chuan classes and received various foods at her home, such as cakes and pies.

Like Maria, physical education professional Luális Alves, 40, has been using BTF services for several years. She has helped plant community gardens, exchanged food, taught functional fitness classes and other activities. But for her, the main benefit of the project is the personal connections.

“I think the coolest thing about the platform is this face-to-face exchange, this service offered beyond money,” he highlights.

All have the same value

One of the bank’s philosophies is to recognize the importance and value of hours for everyone. There is no distinction regarding the service offered, much less who offers it.

“Time is the same for everyone. There is no such thing as my time being more precious than yours. This exchange is not the same as money,” says Machado.

According to the bank’s representatives, the organization is a powerful tool for inclusion and social transformation. “There were people who thanked us. Some were able to eat just because they were paid there and didn’t have the money to buy food,” says Klin.

“A cleaner who worked there for four or five hours and earned those hours later could get a massage or have access to an appointment with a doctor that, often, she wouldn’t be able to afford,” adds the biologist.

By valuing everyone’s time and participation equally, the initiative has attracted a growing number of people seeking to strengthen community ties and explore new ways of living together.

“In a world where the value of things is usually measured in money, time banking emerges as a real alternative t
o build bonds and collaborate in a more human way,” says Alves.