Welcome to BrumLETS
LETS (Local Exchange Trading Scheme) enables people to trade services without exchanging
money. People join a non-profit making club to exchange services, using their own
local “currency” and accounting system. A directory of goods and skills is made
available to all members— Offers can range from darning to computer skills,
babysitting to counselling. Members trade with each other whenever they wish, and
record their transactions on the BrumLETS website.
There are many LETS schemes throughout the country, and each has its own local currency.
In Birmingham, our currency units are called Hearts (as Birmingham is the "Heart
of England"). When you come to advertise your services, we recommend a typical rate
of 6 Hearts per hour, but you are free to set your own rate.
It is worth remembering that, unlike the mainstream economy, LETS encourages people
to place equal value on all services, from accounting to cleaning.
There is no penalty for having a "minus balance" on your LETS account (unlike mainstream
banking, where people are charged fees and interest for going overdrawn).
For more information, Contact Us