Hello crew
Someone I know has been offered cash + an amount of credit on a barter card for a property he has for sale. He just called me asking for advice and I had no clue what he was talking about.
I turn to you lot. What is it? Is it safe? How can he use it?
Or utilise the services of others that are also subscribed to Bartercard.
I assume this:
https://en.wikipedia.org/wiki/Bartercard
And no lol, I would not take "Bartercard Trade Dollars" as consideration for a property. Get the person to liquidate their credit into actual dollars, and then pay with those.
I'm curious how they built up a substantial amount of bardercard points in the first place, what skill have they been bartering?
Skills or goods.
It has been around for decades, so could be their superannuation / savings.
Having your super or savings (for retirement) in the form of "Bartercard trade dollars" is honestly one of the worst financial decisions I could imagine someone making.
I'm curious how they built up a substantial amount of bardercard points in the first place, what skill have they been bartering?
Professional Hitman ?
I'm curious how they built up a substantial amount of bardercard points in the first place
Sold a property to somone who paid via barter card
m curious how they built up a substantial amount of bardercard points
Rolled a nat 20.
Master Blaster run Bardertown.
Perhaps they can accept payment in itunes vouchers instead like the ATO.
Their real estate agent would have given them advice about this.
What was it?
It was originally a method to evade taxation, however since it is now taxed at a 1:1 ratio to cash it is a bit pointless.
Maybe it’s just a system to meet people to barter under the table with.
LOOOOOOOOOL. Why would you accept ANYTHING other than cash?
Gold!
I'll give you twice as much and pay with a post dated cheque.
I'll triple even that on an IOU note.
(Okay, that's being slightly unfair, bartercard credit isn't actually that risky or de-valued, but for real property?! No, just no.)
Hey guys so the property isn't valued that highly. The cash amount the buy wants to pay is about 70% of asking price, plus an amount of credit on the barter card. So it's not an entirely barter card payment the buyer is proposing if that makes sense.
Does your mate use bartercard in any form? I've literally never heard of it before this thread and I'd probably laugh if someone genuinely offered it to me.
The point is this:
If the bartercard credits are actually worth real money and are easy to turn into actual dollars, the buyer can just turn them into dollars and just pay that way.
If the buyer can't (or won't) do that, then that makes me question the value of the bartercard credits, how valuable they are, and how easily your friend would be able to turn them into useful dollars.
There's no situation here where - unless your friend already used bartercard credits and could and would use them (which isn't the case here) - the buyer should need to be be paying in bartercard credits.
Tell your friend to evaluate it like this:
Proceeds = cash + p x Barter card value
where p is the percent of the Barter card value he can convert to cash or make use of.
Compare Proceeds to other offers. The greater the gap compared to other offers, the more he's factored in a margin of safety and can go for it and sleep tight at night.
If bartercard is so good, let him convert it to cash for you.
Is it like a get out of jail card ?
What's the exchange rate of bartercard dollars to schrute bucks?
Can i make part payment with monopoly money ? Cause thats what i read there.
I got a 100 trillion Zimbabwean dollar bill. That should be worth a fair chunk of this property.
Was big into the barter card, nothing good can be redeemed on a barter card, its mostly a charity thing
Bartercard is just like a gift card. You can only spend it with people who accept it, and if the whole thing flops, you're out of pocket.
Money goes straight into your bank account, and is accepted everywhere.
Oh yeah, aren’t these used as meal cards for employees at some places?
never heard of that.
Bloody hell, I haven't heard of Barter Card since I was working in a fish and chips shop 19 years ago.
Does the vendor have a business? Tell the offeror to give them a directory to see if they can use the services in there. Note that many companies in the directory may not accept barter card. They may have a store if them themselves and be looking to spend. Note that there may be a transaction fee payable in cash upon spending barter dollars. Note that they may need to pay to join bartercard and also an ongoing monthly fee. Note that prices in bartercard are generally higher than the cash economy. I’ve probably run over a million dollars through my former company.
Bartercard can be great, but is not for every business.
Bartercard is a massive waste of time and money. Something that you could pay $5000 for is $20000+ barter dollars. There are also tax implications and monthly fees.
I thought Barter Card was dead about 15 years ago. Tell your mate to say no. Cash is king.
You could've turned to Google:
https://www.bartercard.com.au/
It's an exchange of services.
Don't accept it toward a house lol unless the person really wants to utilise the services of the other person