Actually, Swopbank is all about balancing your financial power through “community”. Of course you read that right—community. Swopbank is simply like a community bank, yet it is not a bank. Rather it is a focus point for the common folks to exchange items (especially unused items or items not needed anymore) with one another, in a way that everyone can bypass the usual spending problems. You will be absolutely correct to say that an activity on Swopbank is a “Social Transaction”.
Plus the fact that you can meet new people…Swopbank is a community indeed.
- Do you have items you don’t need anymore lying around your house and taking space unnecessarily?
- Do you want some items but don’t have enough money to buy them?
- Do you feel bad about having to throw something valuable away and you wish there could be someone who can take them, as you are being eco-conscious, desiring for a cleaner and less-waste environment?
- Do you NOT want to buy certain things anymore, but want to obtain those things in exchange for the things you have?
Now, you can do any or all of the above easily at Swopbank.
Although this is a place you can swap your item for another person's item, what if the other person does not want your item but you want his? That's actually the problem with barter (direct exchange) trading, and that is where money plays one of its vital roles—making barter obtainable whether you have what he wants or not—inasmuch as somebody in the community has what he wants.
With money serving as "credit" (or IOU), the process of exchange becomes a multi-party possibility; where one person can take whatever he wants from another and tender a "credit" to him. This credit circulates from one hand to another. This credit is what we call money and it must be used in Swopbank community to facilitate the swapping processes; hence the Swopbank Naira (Sb Naira).
Welcome to Swopbank.