Support or Suggestion Form
How do I become an eXchange member?
Follow this link to FREE REGISTRATION or use the link at the foot of the page. The form is self-explanatory and only requires basic business information. Remember: iOu eXchange has a strict anti-spam policy so email addresses are only used for account activity and communication.
Is there a joining fee?
Early Adopters will benefit from a £99 saving because there is no registration fee for them, so register today and pay nothing until you make more sales and use less cash when getting what you want.
How will my business benefit from eXchange?
If you would like to SELL more of your product(s) and/or service(s) the eXchange offers a facility to do just that... as you know selling more for less devalues brands. Using the eXchange attracts more sales without discounting. In addition, as a buyer, you can acquire more for less too, using the Power of X (the unit used on the eXchange as a measurement of each members value.
How do X's promote trading?
New members of iOu eXchange receive 1000 points for joining, these are called X's. 'Early Adopters' are given an additional 1000 X's. IMPORTANT NOTE: Xs indicate trading activity on the platform. Effectively Xs are used as an encouragement to facilitate trade between iOu eXchange members. The number of X's used by each member is logged and cumulative values are used to demonstrate each members selling and buying activity.
What value do members place on X's?
For ease of use many Selling Members may ask Buying Members for ONE X in recognition of each £1 price reduction, however they can adjust the ratio. It is the Buying Members choice as to whether they agree to the number of X's requested by the Selling Member e.g. a Selling Member may ask for 2,3 or more X's for each £1 reduction they offer in their iOu eXchange deals.
How do I find the services and products on offer?
Once you have registered there are 3 ways to find products and services. 1. You can post an anonymous WISH which is a quote request for a service or product. Wishes are seen by other members who can reply via the eXchange system that protects against spam style contacts. 2. You can search the eXchange database for a specific product or service. 3. You can browse all the products and services (DEALS) for inspiration and any deal that grabs your attention.
Is there a simple example of a typical deal?
Let’s say you are a printer... you would post a DEAL, which is for MEMBERS ONLY. The Member Deal could be a package of business cards, letterheads and branded envelopes for £99 + an eXchange of X’s. X’s are points used within the eXchange that encourage price reductions between members.
Why don’t I simply arrange deals myself?
Transactions between eXchange Members will typically attract discounts on the original price, much the same as 'LOSS LEADERS' in supermarkets. The X's transferred between members are a mechanism to demonstrate and record the volume of discounts given i.e. if a member collects 3000 X's it means they have probably conducted a significant amount of business. If you swop your goods/services with other businesses, then your trade will be deemed a set-off or barter arrangement where VAT rules apply. Click this link to read HMRC rules
Are iOu eXchange X's a cryptocurrency?
No, absolutely not... X's are not a currency. The eXchange X's represent one unit of recognition mechanism to demonstrate how grateful a Buying Member is. Of course it may be that a particular Selling Member may be happy to receive ONE X for each £ of discount given, whereas another Selling Member may feel that TWO X's are a fair recognition. X's are used to keep a track of which businesses are trading in a fair and mutually beneficial way.
What are the tax implications?
VAT is paid on an invoice amount; any £'s you pay for goods and services are liable for VAT where applicable. X's are not a currency, they are a unit in a points system that are used as a mechanism to promote trade between a closed group of members, thus they do not attract VAT (or any other form of tax).
Is there a monthly subscription fee?
Once you start to benefit from the service there will be a monthly subscription of £23.88 (paid in arrears) which can be cancelled at anytime. Important Note: the monthly subscription is a set figure for all businesses because the service provision and maintenance costs are the same irrespective of a business size.
It seems it may be a barter system?
iOu eXchange members use X's (units of trade recognition) to access the reduced prices offered on the trading platform, which is different to a barter system where goods and/or services are exchanged for another business' goods and/or services.
What is the value of an X?
An X's has no monetary value, as it is a unit used to indicate the volume of spare capacity a Member has eXchanged i.e. if a Member has more X transactions, it is likely they have traded more spare capacity within the eXchange.
Will members receive spam/junk emails?
How could I use any excess X's accrued?
We have had discussions with many organisations who plan to offer significant price reductions on high ticket products and services through iOU eXchange such as cars and luxury holiday accommodation.