How to trade
within your network
- Simply pay with your LETS cheque book
for a service/product like with an ordinary bank cheque (filling in the name of the person you issue the cheque to, the amount of LETS credits you pay, what it is for (important for reference!), your own name/membership number and don’t forget to sign it).
- Cheque points are places where cheques are collected
The person receiving your cheque will drop it into one of the designated “cheque points” listed in your Trade Directory, (or post it to the co-ordinator) from where it will be “lodged” to the relevant member's LETS account, while your account will be debited at the same time.
- Cheque book stubs
should be retained for your own records, you can keep a “running total” to know the state of your account at any point in time.
- Once your cheque book is used up
please send a stamped and addressed return envelope to
the co-ordinator to receive a new one in the post.
- There is no “penalty” for overdrawn accounts!
Trading activities (credits, debits) are INTEREST FREE. Likewise there is no need to hold on to credits earned, they have no value in themselves, unless they are spent.
- Trading activity (turnover) is what matters
not the amount of credits or debits a member account shows. If an account
goes too far into credit or debit or becomes static, your local LETS Team
is happy to offer advice. Don't hesitate to contact
us!
- LETS operates on the principle of trust and open policy
Members’ account balances are published twice a year in the Members’ newsletter.
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