Stay tuned with CashEssentials news ! - beyond payments
By subscribing, you accept our Privacy Policy.

Community money (local money)

April 26, 2021

An unconventional money used in a reduced geographical area for a small and alternative group of people, outside of the legal and official circle of money and central bank supervision. It is used by groups with a common bond, like members of a locality, or association, and designed to meet their needs. It is based on the general acceptation of the members of the community and used for exchange of goods from local production. The trade with this kind of money is not valid for banking transactions (because it has no legal tender status) or for official transactions.