Knowledge (XXG)

Bristol pound

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528: 178: 27: 279: 514: 65: 327: 206:, UK on 19 September 2012. Its objective was to encourage people to spend their money with local, independent businesses in Bristol, and for those businesses to in turn localise their own supply chains. At the point of the close of the digital scheme in August 2020, it was the largest alternative in the UK to official 354:
As well as potentially stimulating the local economy it can create stronger bonds within the community; by increasing social capital. Buying locally can decrease emissions as locally produced good require less transportation. Local trade through the use of complementary currencies can be a resilience
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then developed Bristol Pay, which sought to both offer an e-money peer to peer payment platform that could generate income for charitable projects in the city, and to create a range of token systems to encourage a culture change in how people thought about economic value in relation to social capital
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Paper £Bs could be used by anyone, had been designed by Bristolians, and carried many high security features to prevent fraud. In June 2015 new paper £Bs were issued. These could be exchanged at a 1:1 rate for sterling at seventeen different cash points throughout the city, or ordered online through
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Independent Currencies – a platform for sharing experiences about local currencies - which later became the Independent Money Alliance. In this framework, Bristol CIC assisted Exeter, amongst others, helping it to launch its own local currency; the Exeter Pound. This formal group no longer exists.
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Bristol pounds could only be exchanged back into sterling via an electronic Bristol pound account. There was no fee for doing this. Paper Bristol Pounds could not be directly exchanged back to sterling unless first deposited into an electronic account. Technically, the notes were vouchers and the
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Bristol pound was part of a larger international movement of local currencies. The European funded Community Currencies in Action partnership provided support for communities which want to develop their new currency and works on innovations. Within the UK, Bristol Pound CIC founded the Guild of
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The Bristol pound was used in both paper and electronic format, like conventional money. One Bristol pound was equivalent to one sterling pound. Some businesses applied discounts for customers paying in Bristol pounds. Local taxes and electricity bills could be paid with Bristol pounds online.
486:, and participation was therefore voluntary. The directors of the scheme could not prevent national and multinational companies accepting paper £Bs, but could decide, based on the Rules of Membership, whether a business was permitted to open a Bristol pound account and trade electronically. 245:
that was created to "improve Bristol's local economy". Its primary aim was to support independent traders in order to maintain diversity in business around the city. The scheme was a joint not-for-profit enterprise between Bristol Pound Community Interest Company and Bristol Credit Union.
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publication, money that is re-spent locally is '... the same as attracting new money into that area.' If a person spends a pound at a local shop, the owner of this shop can re-spend it by buying supplies from another local business, or paying local taxes
470:, without needing to pay for and install a credit card machine. The businesses were latterly charged 1% of the amount billed for payments made by SMS, a similar or sometimes reduced rate than with credit or debit cards, or 434:
Bristol pound was involved in the Digipay4Growth project, coordinated by the Social Trade organisation and with partners such as Sardex. Through this project Bristol pounds digitalised its currency, using Cyclos software.
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The Bristol pound was the second local scheme (after the Brixton pound) to be able to accept electronic payments in the UK. This allowed, for example, participating small businesses to accept payments by
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strategy; reducing impact of national economic crises and dependency on international trade, and enhancing self-sufficiency. It can also increase the awareness of the impact of one's economic activity.
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In June 2015, according to the Bristol Pound CEO, some £1 million had been issued in £Bs. More than 800 businesses accepted Bristol Pounds and more than a thousand users had a Bristol pound account.
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at a 1:1 ratio. Bristol City Council, and other organisations in the city, offered their employees the option to take part of their salaries in Bristol pounds. The former Mayor of Bristol,
347:) to the council. The process can be repeated with exchanges kept within the local economy. This local circulation can lead to additional economic benefits for the area; this is called the 1233: 778: 383:
Bristol was the first city in the UK in which taxes and business rates could be paid in a local currency. Bristol pound account holders could convert £Bs to and from
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and had not increased local wealth or the production. A spokesperson for the Bristol Pound claimed the findings contradicted previous research by the
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in collaboration with the local financial institution, the Bristol Credit Union. The Bristol Credit Union ensured that every £1 sterling
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By late 2017, five million Bristol pounds had been spent. However, by this stage, usage of the currency was beginning to decline.
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The digital currency ceased operating in August 2020 and Bristol pound accounts have reverted to sterling accounts at the Bristol
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reported on some research that suggested the Bristol pound venture was too small to effect significant change in
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Every paper £B was backed up by £1 sterling deposited at Bristol Credit Union. The Bristol pound was not
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Bristol pound contributed to Bristol being awarded the title of European Green Capital 2015.
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first issue of the paper Bristol pounds also had an expiry date (30 September 2015). The
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Please help update this article to reflect recent events or newly available information.
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In March 2020, the Bristol Post reported that the currency faced an uncertain future.
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to a printed £B1 was backed in a secure trust fund. The scheme was supported by
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From June 2015, energy bills were able to be paid in Bristol pounds to the
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by adding information on neglected viewpoints, or discuss the issue on the
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Previous to the Bristol pound, local currencies were launched in the UK in
779:"They don't just shop local in Totnes – they have their very own currency" 645: 1104: 222:
and environmental capital. However, Bristol Pay was shut down mid 2023.
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Community Currencies in Action (2015), New Economics Foundation (ed.),
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Bristol Pound Scheme Rules for Individual Members and Trader Members
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The Bristol pound was withdrawn from circulation in September 2020.
1957: 586: 325: 254: 1118: 1347: 1312: 1210: 1057:"Bristol Pound gets boost of energy as power company signs up" 272: 20: 1138:"The Bristol Pound is launched to help independent retailers" 1301: 170: 691:"End of the Bristol Pound: Why did it fail and what next?" 391:, accepted his entire salary (£51,000) in Bristol pounds. 1234:"Banknotes, local currencies and central bank objectives" 494:
acknowledged the existence and role of local currencies.
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Marshall, Adam P.; O'Neill, Daniel W. (April 2018).
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Our Money – FAQs" 1072: 1070: 713: 711: 57: 911: 909: 1331: 1317: 1309: 176: 1669:Japanese government-issued Oceanian pound 1031: 1029: 867: 865: 863: 1105:"Community Currencies in Action Website" 1009:"Mayor to take salary in Bristol pounds" 617:"Bristol launches city's local currency" 421:Bristol Pound Community Interest Company 607: 2020:Local currencies of the United Kingdom 1275: 1270:"Bristol, 2015 European Green Capital" 210:currency, and was backed by sterling. 56: 7: 1176:Morris, Steven (21 September 2012). 749:Gosling, Emily (19 September 2012). 615:Cooper, Rachel (19 September 2012). 1136:Hastings, Rob (20 September 2012). 1007:Morris, Steven (20 November 2012). 663:Morrison, Sean (25 November 2022). 916:Ashcroft, Esme (9 December 2017). 718:Harvey, Dave (19 September 2012). 14: 2015:2021 disestablishments in England 891:Ferreira, Jennifer (March 2015). 833:Sacks, Justin (1 December 2002). 805:Leo Hickman (16 September 2009). 751:"Bristol launches local currency" 652:from the original on 13 May 2020. 1103:Community Currencies in Action. 1077:Harvey, Dave (6 February 2012). 526: 512: 277: 63: 25: 1055:Morris, Steven (16 July 2015). 689:Wills, Sophie (9 August 2021). 2010:2012 establishments in England 971:10.1016/j.ecolecon.2017.11.002 1: 1908:Historical antecedents (mass) 1036:Rogers, John (17 June 2013). 872:Hickey, Shane (7 June 2015). 415:Organisation and partnerships 1819:Rhodesia and Nyasaland pound 1974:Carolingian monetary system 457:the Bristol pound website. 269:Effect on the local economy 2041: 1804:Prince Edward Island pound 1538:British West African pound 1445:Local alternative currency 1282:: CS1 maint: url-status ( 1647:Italian East African lira 292:toward certain viewpoints 62: 34:This article needs to be 1859:South West African pound 1849:Southern Rhodesian pound 777:Rob Sharp (1 May 2008). 582:New Economics Foundation 336:New Economics Foundation 233:The Bristol pound was a 1652:Italian Somaliland lira 443:Using the Bristol Pound 349:local multiplier effect 1684:Lombardo-Venetian lira 1384:Falkland Islands pound 331: 69:£B5 and £B10 banknotes 2025:Currencies of England 1839:Solomon Islands pound 1590:French colonial livre 1339:Currency units named 1272:. The European Union. 1207:Bristol Pound website 1163:"Bank Notes Act 1954" 542:Bank Charter Act 1844 396:100% renewable energy 373:University of Bristol 329: 1894:Western Samoan pound 1844:South Carolina pound 1759:North Carolina pound 1416:South Sudanese pound 1250:on 23 September 2015 1232:Naqvi, Mona (2013). 994:People Powered Money 951:Ecological Economics 452:Paper Bristol Pounds 429:Bristol City Council 334:According to a 2002 217:. The Bristol Pound 159:Bristol Credit Union 127:£B1, £B5, £B10, £B20 1729:New Hampshire pound 1719:New Brunswick pound 1714:Massachusetts pound 1241:bankofengland.co.uk 963:2018EcoEc.146..273M 461:Electronic payments 298:improve the article 190:(£B) was a form of 59: 1869:Tripolitanian lira 1854:South African pond 1809:Rhode Island pound 1789:Pennsylvania pound 1764:Nova Scotian pound 1749:Newfoundland pound 1409:Saint Helena pound 534:Numismatics portal 332: 330:Bristol pound logo 243:community currency 200:community currency 1987: 1986: 1744:New Zealand pound 1724:New Guinean pound 1610:Saint Lucia livre 1553:Connecticut pound 1436:Ukrainian hryvnia 1213:on 2 October 2012 996:, pp. 190 pp 900:Brunel University 835:"The Money Trail" 669:The Bristol Cable 646:"Bristol Pay FAQ" 319: 318: 184: 183: 123: Freq. used 55: 54: 2032: 2000:Pound (currency) 1829:Sammarinese lira 1734:New Jersey pound 1694:Luxembourg livre 1605:New France livre 1595:Guadeloupe livre 1518:Australian pound 1333: 1326: 1319: 1310: 1305: 1304: 1302:Official website 1288: 1287: 1281: 1273: 1266: 1260: 1259: 1257: 1255: 1249: 1243:. 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Index


Symbol
Denominations
Bristol
Central bank
bristolpound.org
Edit this at Wikidata
local
complementary
community currency
Bristol
sterling
Credit Union
CIC
local
complementary
community currency
Totnes
Lewes
Brixton
Stroud
unbalanced
improve the article
talk page

New Economics Foundation
Business Rates
Council Tax
local multiplier effect
Bristol Post

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