Time Banking Time Units
NB: The following information only applies to time banks. If you are setting up a community exchange you can ignore this.
Most time banks use 1 hour as their unit of account/value. Choose one of the other options if you want to use a smaller unit. If you want to use a number of units per hour (e.g. 10 units/hour) then select the appropriate time unit (e.g. 6 Minutes).
If you want to use a number of units for a smaller time unit (e.g. 10 units/half hour) or some other configuration not provided in the selection list, indicate this in the Motivation field of the registration form and it will be set up in the way that you require.
Time Unit | Equivalent to | Comment |
1 Hour | 1 unit/hour | Standard time banking unit |
1 Minute | 60 units/hour | Common time banking unit; provides more accuracy and avoids using decimal point (e.g. 45 minutes instead of 0.75 hours) |
3 Minutes | 20 units/hour | Commonly used in time banking |
5 Minutes | 12 units/hour | |
6 Minutes | 10 units/hour | Commonly used in time banking |
10 Minutes | 6 units/hour | |
15 Minutes | 4 units/hour | |
20 Minutes | 3 units/hour | |
30 Minutes | 2 units/hour |