FAQ

 

Have you got any questions?

Hopefully we’ve covered the main ones here.
If not, please send us a message through the contact page of this site.

 

What About My Cash Business?

Action Pounds - The People's Currency are not meant to replace your cash business, they are designed to earn you 'extra' valuable currency, from appointments and services that would have otherwise been unfilled or unsold, and therefore gone to waste.  Using Action Pounds - The People's Currency can also conserve your cash and improve your cash flow.

How Do I Control How Much I Give For Action Pounds?

You are in complete control of how much you offer to the network, for the first 3 months there is a limit to how much you can earn, currently set at £A200 Action Pounds.

After 3 months of successful trading your account will be revised and the cap lifted.

We have some businesses in the scheme that have a high value product or service of over £200 - if this is the case, the balance can either be paid in cash or by instalments of Action Pounds.

How Much Do I Charge In Action Pounds?

Action Pounds have the same 'like for like' value as pounds sterling (if you are outside of the UK they have the same value as your National currency) so, if you normally charge £25 then you will charge £A25 Action Pounds.

Does my business have to accept full payment in £A - Action Pounds?

We do ask that businesses work with us to make Action Pounds - The People's Currency a success, and when people accept 100% Action Pounds in payment magic happens!  The amount of Action Pounds you are willing to accept is always set by you, you have complete control. 

Can I buy Action Pounds?

You can't 'buy' Action Pounds but you can earn them or receive them from another member.

You don't have to wait for someone to trade with you before you can make a purchase. Everyone starts off with a credit limit of -£A200 Action Pounds, so you can buy what you need straight away. 

If you want to make a purchase and don't have enough Action Pounds, you can *borrow some from the community account. This also applies to community groups, businesses or individuals.

*You need to have been trading for 3 months.

What Fees Will I Be Charged?

There are no joining fees, monthly fees or transaction fees of any kind at this time.  In order to make the project sustainable, we will need to make some charge in the future, but this will be nominal.

What About Tax/VAT?

Tax and VAT are treated in exactly the same way as cash business. Account Statements can be printed or downloaded by CSV from your account dashboard, to pass onto your bookeeper/accountant.

Can Anyone Have An Account?

Yes, anyone can request an account. Although our site is fully automated - all account requests are dealt with by the Action Pounds team - manually. This prevents spammers, hackers and other unwanted users creating accounts on the site. It also gives us an opportunity to monitor what services are being offered and requested, as well as what's needed.

Will my suppliers accept Action Pounds?

A number of businesses from around the region have already signed up, and we anticipate that more and more businesses will want to join. If your suppliers are not members of the Network, let us know and we will invite them to learn more about the scheme.

How Do I Promote My Business?

There are a number of ways you can promote your business - On the NEWS page via articles or blogs, you can also add links to your website or blog, facebook page or twitter links to any offers that you make, or comments that you post on the network.

You can advertise and promote your business in the communities section.

Your account is fully automated, other users and visitors can see all of your offers, plus any links appear automatically on the site and are updated every 15 minutes. We will also be actively promoting business members through online and print media.

Can I Give My Action Pounds to Family?

Yes! We encourage it - especially young children/adults, it's good to get them used to a more collaborative currency. You can also donate Action Pounds to charity, give them to suppliers, friends or colleagues. Family members can have a sub-account, friends or customers would need to have their own.

Do I have to spend lots of time on the site?

It's the one site you should be spending time on if you want to do business or connect with others in your local community.  

We've created this site as a 'one stop' shop to make the most of the resources you have and give immediate access to what you need. You can connect with other businesses and users, make comments on listings and network in our communities.

What Support Is There?

When you create an account on the Network you automatically get access to the full site and all the help tools. Also, we are a team of human beings here and ready to help you whether it's accessing resources you need or help with promoting what you have to offer.

How Do I Find Customers?

There are a number of ways. When you make an offer on the network other members will see it. You can also access the Members area which has a directory of all current members.

You can use the search facility for postcode, member name, business name or town, city, county.

You can also search the relevant WANT category requests for your business.

Finally there's the Communities area where members list tips, useful info and recommendations for their town, city or county.

How and When do I get Paid For the Work I have Done?

Payments are fully automated, efficient and easy to manage. There's no waiting 30, 60 or 90 days for payment - you get paid immediately on registering the transaction.

Either party can register the exchange (transaction) as the payer or the payee via the simple 3 step RECORD AN EXCHANGE tab.

How Do I Know That The Person Who Wants To Buy From Me Has Enough Action Pounds?

Great question! Unlike normal banking accounts - our system operates on complete transparency. When a member makes contact to purchase from you, their membership ID and name are live links that will take you directly to their account, where you can see their account balance. Also, if the member does not have the credit, the system will not enable the transaction to take place and both parties will be notified.

Can Action Pounds be spent outside of my community?

The scheme is designed for use online making it easier for people from further afield to connect, use and accept the currency. To become a member and use the electronic system, you need to set up a new account.

How do I leave the scheme if I no longer want to be involved?

You can close your account at any time.   Any remaining Action Pounds in your account can be donated to other members, charities or individuals in the Network. All accounts must be returned to Zero balance (or the amount credited to the account on creation). 

If you cannot see the answer to your question here - please contact us.

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