Welcome to The Sprout! Please sign up or login

Information » Money » Banks and Building Societies » LET Schemes



LET Schemes

LET (Local Exchange Trading) Schemes are networks that allow local people to create their own local 'currency' without the need for money

  • Anyone can join an LET Scheme whether they are employed or unemployed
  • LETS use a system of community credits, so that direct exchanges do not have to be made
  • People earn LETS credits by providing a service and can then spend the credits on whatever is offered by others on the scheme: for example childcare, transport, food, home repairs or the hire of tools and equipment
  • This new 'currency' allows a person to 'swap' hours of work. For example, an hour of cutting hair in exchange for an hour of bricklaying
  • The schemes aim to make the most of local skills and resources

Got something to say?

You must be logged in to post comments on this website.

Login or Register.

Please take a few minutes to complete this survey. It will help us find out how you use the website so we can keep improving it for you. Everyone who completes the survey will get the chance to win £50.