The Redbridge bank where you can pay in or withdraw with no money in your pocket – guest blog Bhav Patel

Bhav PatelI was asked to write a few words about the the Timebank having come across it at the Enterprise Desk in Ilford Library on 23th April. Although my comments may seem like a romanticised take on this concept, it is through this type of organisation and this type of initiative that we can truly change the world, one second, minute and hour at a time….

The most precious currency of all, that which is the concept of time, is often lost to a vast majority of us, most of the time.

We tend to occupy ourselves trading paper or trying very hard to push those digits on a screen towards ever-greater heights, in order to accumulate more cogs for the machine that we are building to navigate safely through the world of capitalism. What’s yours is mine for a price.

Sophia Hubs Timebank concept however turns that world upside down. I may have built a machine with a thousand cogs, bells and whistles and yours only has a mere handful but once you enter the Timebank, it is truly nature’s level playing field because here, the value of each second, minute and hour is no different for me as it is for you. The most precious gift I can give to you is my attention, my undivided focus, my experience, my perspective and ultimately a part of me. In return, I graciously receive the same.

I am sure this is not a new concept but it is possibly the first time it is making its way to the Redbridge population. It encourages one on one interaction, it builds confidence, it breaks down barriers, preconceptions, and it makes a teacher and student of us all. It is simply, humbling.

This is the only Bank that says to you, here I am, you can come in to make a withdrawal or pay-in a deposit with empty pockets.  

I encourage you to join in and help build real wealth in this world. The next trading event is Saturday 18th June 1-3pm at Enterprise Desk on 2nd floor of Ilford Library.

Bhav Patel

Future thought leader in social entrepreneurship. 


Thanks Bhav for writing this!  We do need the Timebank to ‘take off’ in Redbridge. We’ve 120 members so far. To join registration is here For another article on the Timebank and the trading event on 23rd April click  Brenda’s guest blog

Stephanie Mugo, volunteer Timebank manager.

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