The short answer is no. However in the following circumstances cash may make up part of the transaction.

• If the buyer has insufficient BBX in their account – the BBX platform will inform you of this.
• Real Estate Purchases. Firstly because the buyer may not have sufficient funds and secondly the vendor may have a mortgage to pay off.
• When the buyer wishes to purchase at a wholesale price to offset a fixed cost overhead or a core product. For example a wine merchant supplying a restaurant wine at a wholesale price. The wholesale price might be £3 at a cost of £2.50 (due to import duties and distribution) to the wine merchant. The wine merchant would not be able to absorb these costs month in and month out so a blend of cash and BBX is negotiated. Your BBX account manager can guide you through this.
• If the seller is required to sub-contract part of a supply to a non-BBX account holder (the seller will inform the purchaser of this upfront). Notwithstanding if the seller wishes to mark-up the sub-contractors goods or services, then it should be on full BBX . An example would be a mechanic who fixes an engine but has to sub-contract work to provide body damage repair and has to pay this person in cash.
• Sometimes it may be uneconomical for the seller to BBX the whole transaction. For instance a hotelier (buyer) may want his whole hotel redecorating which will take a painter & decorator (seller) 3 months to complete. This could preclude the painter & decorator from doing any cash work during this time. Again your BBX account manager can guide you through any specific circumstances.

For accounting and all other purposes one BBX credit equals one pound sterling. If a transaction is currently taxable then in all probability it will be taxable if transacted using the trading platform. Conversely if you currently purchase a good or service where you get a tax deduction this will continue to be so when you pay by BBX.We advise all account holders to consult a properly qualified accountant (there are many available on the platform).

The simple answer is whatever you would normally charge or quote without discounting! However if you wish to discount that is usually not expected but feel free to do so if the circumstances warrant. Ask yourself “If I was buying from me would I be happy and recommend myself to a friend?”.

When you next have an opportunity without taking away a cash sale. Bear in mind do you want to build a good reputation and attract recommendations?.

Exactly the same as if you were buying with cash, cheque or credit card. The law does not differentiate, and normal consumer protection laws safeguard buyers in respect to things such as warranty and faulty goods. The conduct of business through the BBX platform does not remove the normal risks associated with buying and selling, and normal precautions should be taken.

We own all our infrastructure including e-commerce systems and support tools. In addition we operate a cloud based system where every transaction is traceable.

BBX acts as a clearing house for the trade of excess capacities, goods and services through a combination of online e-commerce, transaction processing and independent licensees.Rather than promoting direct trade between participants BBX brokers trade through a global trade platform.

1. Transactions are recorded in a centralised “ledger” which records the value of the items purchased (debit) and sold (credit) – much like a clearinghouse does for stocks, or a commercial bank does for cheques.
2. This ledger system utilises a “BBX pound” as a method of accounting:1 BBX Pound = £1.
3. Just like a brokerage firm, BBX receives a commission on each transaction.

There is no contract period or restrictions on closing. However if your account is in deficit you would be required to settle this amount by offering your products or services back into the network to settle the account. If your account is in credit you simply spend the credit down to zero by buying goods and services from fellow BBX account holders.

The simple answer is that there is no direct mechanism to turn BBX into cash however there are many creative ways of creating cash by using BBX to do so.For example:

• Value add – a printing company buys graphic services using BBXs and sells a print & design package to it’s cash customers
• Spend BBX to advertise your products and services to create cash sales.
• Spend BBX on expenses you would otherwise spend cash, therefore leaving the cash in your bank.
• Purchase bulk stock using BBX to resell in your shops or through other markets.
• Take part of your salary/directors drawings in BBX to pay for holidays, restaurants and other personal items that you otherwise would have spent cash on.

Fees are deducted via Direct Debit on or around the 9th of each month. If you don’t have Direct Debit in place you can set up a DD over the phone with your trade broker on 0333 400 2014. You can also make payment via:

1. Credit card – please call your trade broker on 0333 400 2014.
2. PayPal – https://www.paypal.me/bbxltd
3. Bank Transfer: BBX Exchange Ltd, Sort code: 087199, Account: 12974844

Here is an explanation of ‘How To’ process BBX transactions, via the BBX trading portal – just follow the steps as detailed below.

You can also process BBX transactions, anytime, anywhere, via the BBX Merchant POS app – click here for details.

Step 1 – login

Step 2 – fill in your 16 digit account number and password

Step 3 – click on process transaction

Step 4 – follow the steps

Simply enter:

• The BBX account number of your customer/supplier
• The amount of the transaction
• A description of what the transaction is for – i.e. Food & Drink (if you have raised an invoice for your customer for the transaction, it makes sense to enter the relevant invoice number)

Then click “Process Transaction”

The transaction should process immediately, and if successful will appear on your BBX statement.

If the transaction was not successful, contact your account manager.

Below is a link on how to retrieve or reset your password.

Click here for Password Reset Guide

The short answer is no. However in the following circumstances cash may make up part of the transaction.

• If the buyer has insufficient BBX in their account – the BBX platform will inform you of this.
• Real Estate Purchases. Firstly because the buyer may not have sufficient funds and secondly the vendor may have a mortgage to pay off.
• When the buyer wishes to purchase at a wholesale price to offset a fixed cost overhead or a core product. For example a wine merchant supplying a restaurant wine at a wholesale price. The wholesale price might be £3 at a cost of £2.50 (due to import duties and distribution) to the wine merchant. The wine merchant would not be able to absorb these costs month in and month out so a blend of cash and BBX is negotiated. Your BBX account manager can guide you through this.
• If the seller is required to sub-contract part of a supply to a non-BBX account holder (the seller will inform the purchaser of this upfront). Notwithstanding if the seller wishes to mark-up the sub-contractors goods or services, then it should be on full BBX . An example would be a mechanic who fixes an engine but has to sub-contract work to provide body damage repair and has to pay this person in cash.
• Sometimes it may be uneconomical for the seller to BBX the whole transaction. For instance a hotelier (buyer) may want his whole hotel redecorating which will take a painter & decorator (seller) 3 months to complete. This could preclude the painter & decorator from doing any cash work during this time. Again your BBX account manager can guide you through any specific circumstances.

For accounting and all other purposes one BBX credit equals one pound sterling. If a transaction is currently taxable then in all probability it will be taxable if transacted using the trading platform. Conversely if you currently purchase a good or service where you get a tax deduction this will continue to be so when you pay by BBX.We advise all account holders to consult a properly qualified accountant (there are many available on the platform).

The simple answer is whatever you would normally charge or quote without discounting! However if you wish to discount that is usually not expected but feel free to do so if the circumstances warrant. Ask yourself “If I was buying from me would I be happy and recommend myself to a friend?”.

There is no contract period or restrictions on closing. However if your account is in deficit you would be required to settle this amount by offering your products or services back into the network to settle the account. If your account is in credit you simply spend the credit down to zero by buying goods and services from fellow BBX account holders.

Fees are deducted via Direct Debit on or around the 9th of each month. If you don’t have Direct Debit in place you can set up a DD over the phone with your trade broker on 0333 400 2014. You can also make payment via:

1. Credit card – please call your trade broker on 0333 400 2014.
2. PayPal – https://www.paypal.me/bbxltd
3. Bank Transfer: BBX Exchange Ltd, Sort code: 087199, Account: 12974844

Here is an explanation of ‘How To’ process BBX transactions, via the BBX trading portal – just follow the steps as detailed below.

You can also process BBX transactions, anytime, anywhere, via the BBX Merchant POS app – click here for details.

Step 1 – login

Step 2 – fill in your 16 digit account number and password

Step 3 – click on process transaction

Step 4 – follow the steps

Simply enter:

• The BBX account number of your customer/supplier
• The amount of the transaction
• A description of what the transaction is for – i.e. Food & Drink (if you have raised an invoice for your customer for the transaction, it makes sense to enter the relevant invoice number)

Then click “Process Transaction”

The transaction should process immediately, and if successful will appear on your BBX statement.

If the transaction was not successful, contact your account manager.