Bartercard operates as a ‘trade exchange’ and has transformed traditional bartering into a modern business tool. Using online technology, Bartercard has created a flexible, secure and fully accountable way for businesses to trade their goods and services with businesses world-wide. Bartercard facilitates and monitors the purchases (debits) and sales (credits) undertaken by members. These transactions are recorded electronically and its members receive a monthly statement that summarises their transactions. Members can transact using the following: an enabled card, phone application with transactional capabilities and online transactional options. In addition, Bartercard promotes member businesses and maintains and updates a member business directory. The vision of Bartercard is to be the sales growth network of choice for every Business. Bartercard currently operates in six countries.
Bartercard has a strong membership base of over 3,000 cardholders in Thailand and over 35,000 cardholders globally. There are over 700 categories of businesses from a – accommodation to z – zoo. Bartercard welcomes all industries and all businesses. Check out our member category listing to understand what businesses are in Bartercard.
You can sell almost anything through Bartercard. Besides your own products and services there is nothing stopping you from selling something from home or even buying from a manufacturer or wholesaler at cost and then on-sell through Bartercard. Your trading is only limited to the efforts you are willing to put in to be successful.
There are many different ways to use Bartercard to build your business and improve your lifestyle. Upon joining you will have access to many video tutorials and case studies on unique and creative ways to solve common business challenges. A dedicated Business Development Manager will also be available for you to discuss the many options that best suit your business and lifestyle needs. You can get a sense of how some of members use Bartercard by clicking on ‘Testimonials’.
A Bartercard transaction is similar to a credit/debit card transaction.Members earn trade bahts for goods and services they sell and this value is recorded electronically in the member’s account. Members use their Bartercard transactional card to spend their credit balance (or draw on their interest-free line of credit) on goods and/or services from any other Bartercard member. The flexibility of the Bartercard system is you don’t have to purchase from the same business that purchases from you; you can spend locally, nationally and internationally; you can sell now and buy later; you can use the interest free trade baht credit lines provided and buy first before even making a sale.
Yes, your business pays for your personal expenses so if you can save cash on expenses then it just makes sense to use Bartercard.You can pay trade bahts as a director’s dividends, drawings or loan. As a tip there is no Fringe Benefit Tax applicable if you deposit cash into your business and draw out the equivalent amount of trade bahts in exchange. There is further explanation of this on how to incorporate trade bahts into your payroll system in our creative business tips available for members. However, we always suggest members speak to their accountant regarding how best to implement these strategies into their business.
Yes, you can limit the amount of trading you do. We suggest Bartercard members trade up to 10% to 15% of their total business turnover. We understand there are times when you may be operating at full capacity for a period or seasonally at your peak. Working with your Business Development Manager you’ll work out a plan for the amount of trading that best suits you and your business. You can start slowly and as you work with us to bring on more suppliers of your choice you can increase the amount of trade you do.
When you join, a comprehensive business analysis is conducted with the view to identify potential suppliers already available in our network. If there are insufficient suppliers available to suit your business requirements then Bartercard will work with you to bring on additional new suppliers to satisfy your needs. Many of Bartercard’s top trading members have successfully improved their business profitability by being proactive in their recommendation and referral of new suppliers to provide them with the products and services they need to run a successful business.
By purchasing products or services with your trade bahts, you have already saved cash and kept that cash in your business. You can also buy items with your trade bahts and then on-sell them for cash, therefore converting trade bahts to cash. For example, a restaurant purchases wine on Bartercard and then sells within the restaurant for cash.Trade bahts are not transferable for cash by Bartercard or any other Financial Institution.
Bartercard is a 100% trading system exchange. Upon joining every member agrees to trade at 100% full barter. There are practical exceptions to this rule. Bartercard rules allow for real estate transactions to be conducted with a minimum of 30% barter component and car transactions to be conducted with a minimum of 20% barter component; and continuous cash/trade supply agreements can be negotiated only with prior written approval of Bartercard authorised representative.
Yes, Bartercard has offices in Australia, New Zealand, United Kingdom, Thailand, France and South Africa. In addition, Bartercard has reciprocal arrangements with several other Trade Exchanges worldwide. There are many members who have now established new selling and buying markets internationally. Travel remains the favourite for members taking international holidays. They are paying for their holidays with new business and with their own goods and services.
Yes, Bartercard hosts hundreds of local and national-wide networking functions a year in Thailand. Each member is encouraged to participate in these functions in order to acquaint themselves with other members and promote their own business. It is a great way to build up your contact base. Bartercard will be holding more local and national events this year so stay tuned.
No, Bartercard is not a pyramid-based model or a Ponzi scheme. As any business does, we seek to bring on new members to expand the network and provide new trading opportunities to our members, as well as replacing business operated by members that may have sold, closed or are otherwise unable to continue operating. There is no hierarchical setup where existing members gain rewards from new members further down a ‘hierarchy’ using the network. Our philosophy, business model and pricing structure are based on members making transactions, rather than merely becoming a part of the network.
Barter transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions. When an entity that is a member of a trade exchange makes a taxable supply to another member there is a tax liability, including goods and services value added tax (VAT).VAT is paid and received by members in trade bahts. The consideration paid for supplies between members of a trade exchange is the debiting of the recipient’s account and the consideration received is the crediting of the supplier’s account .For tax purposes, considers one trade baht (1 TB) equal to one Thai Baht (1 THB).
Just like you would normally, we recommend that you get quotes from a variety of businesses before you decide to make a purchase. To manage any form of overpricing, Fair Trading plays an important role in the ethos of Bartercard. We advocate that prices must be consistent with that of a cash purchase; just because a transaction is being done in trade bahts, it shouldn’t be more expensive than a cash transaction.
No, your trade funds do not expire if you are a Bartercard member, however, the physical Bartercard card you receive expires as per the date shown on the card. A new card is then posted out automatically. If you are gifted a Bartercard Gift Certificate, the funds expire after 4 months from the date of issue.