Frequently Asked Questions

Know your business. Most businesses are only able to do a maximum of 25% barter of their total annual revenue. You control the flow of ITEX clients and dollars. You can open the floodgates or turn it down to a trickle.

Often when we hear this objection from prospective members. Even after they have looked at our member directory for options, they do not see the scope of how big and powerful the ITEX economy is. For some, it is a legitimate concern. For most, it’s simply a matter of joining and giving our network a try. After 3-6 months most businesses will stay part of our ITEX community and trade with other members for years.

If members cannot or will not find a solution to their problem. A dispute form can be filled out and sent into ITEX Corporation who will review the case and release their recommendations.

Then the program is not working for you. Contact your broker and let them know the details of your situation.  Our brokers may recommend you start the process of closing your account. This involved putting your account on hold and letting the membership network know that you are no longer taking ITEX dollars. Finally, your broker will work hard to help you spend any remaining ITEX balance.

You will be paid with ITEX checks, the mobile App or by members buying your services or products on ITEX.com.

Some industries will get new business immediately, and others will take time. Patience is key here, your marketing dollars are minimal during this period. Hang in there for 9-12 months and if your still not getting any business call your ITEX broker and have them cancel and close your ITEX account.

The most important things for all ITEX members to do is: 1. Stay engaged with your ITEX broker or trade director 2. Come to ITEX networking events and meet your fellow members 3. Login to ITEX.com and search the member directory before you spend cash on anything 4. Get to know the ITEX members you sell to because often they can be a great resource to help you to spend your ITEX dollars 5. Read through the weekly email newsletters and save them to a folder that you can look back on. These are a great resource for new member and featured member information. If after all that you still can’t spend enough ITEX dollars, consider saving for a trip, land or bigger ticket items that come up from time to time on the ITEX marketplace. Ask your broker about putting you as Broker managed for a time. Members will have to call the broker and request your services or products. This will slow down the flow of ITEX dollars.

There is a nominal monthly membership fee of $35 each month. This is broken down into $25 cash from your chosen bank and $10 ITEX from your member account.  You will also pay a 6% cash transaction fee on all sales and purchases. If you trade nothing, your transaction fee is $0 and your membership fee is automatically withdrawn at month close.   For example:

1. You sell a service or product to another ITEX member for $1000.
2. You then purchase a service or product within the network for $500
3. Your total fees for close that month will break down as follows:
   • $35 Monthly Membership Fee ($25 cash + $10 ITEX)
   • $60 Transaction Fee for the $1000 purchase (6%)
   • $31.20 Transaction Fee for the $500 sale
   • Total cash fees for the month: $111.20

Yes, you can. You can set up a sub-account under your main ITEX account for as many employees as you wish. There is a $5 cash fee charged per sub-account per cycle. As far as their needs being fulfilled, absolutely, as long as they use our members.

ITEX Corporation will extend a credit line to a member who is in good standing. A 1% interest in ITEX dollars will be assets every 4 weeks on the loan.

No, you don’t. You get paid by the buyer. The ITEX dollars go into your ITEX account. You choose where you are going to spend those dollars.

No, you cannot covert your ITEX dollars into cash.

There really are too many ways to list them all. When you are about to make a cash purchase, always ask yourself the question: Can I get it on ITEX? You can save cash by calling and using ITEX members and your ITEX currency. Daily, weekly, monthly and annual cash purchases can ad up to thousands of dollars. The local and national ITEX members can help you offset some of those costs; Dentists, hotels, restaurants, travel, entertainment, health professional, attorney fees, hood, carpet, and window cleaners. And so much more…

Very similar to the cash world. You call or visit the seller, agree on the price for the service or product and then make your payment with an ITEX check or through the ITEX Mobile Apps.

Great question! Direct barter has been going on for thousands of years and continues to go on today. The nice thing about joining Prime Trade NW is access to thousands of new customers, the opportunity for you to have your own ITEX account where you do not have to purchase your buyer’s product or service.

ITEX currency, our digital dollar!

Yes, in the late 70’s the IRS told barter exchanges that if they wanted to continue to do business they had to have certain things in place like a solid itemized tracking systems, which ITEX corporate already had in place.

Your trade dollars will always be yours, and you will always have access to them.  Ask your broker to put your account on hold. Then the ITEX broker or trade director will help you spend your remaining balance. When your account reaches zero your account will be closed.

Relationships are the number one answer. Prime Trade NW will introduce you to a larger audience resulting in an increase in your brand awareness. Secondly, we help you keep your pipeline full. Most businesses will experence slower times. We will help sell that excess time you have and keep your employees busy. Barter also helps you to generate more revenue; most business owners would rather pay their cost of goods or trade their time for services or products they are looking for. Let Prime Trade NW  help you save your cash by using trade dollars. Being on the ITEX bartering network is a win-win for all businesses!

Arthur and Kimberly Shaw. Prime Trade NW is an independent brokerage within the ITEX Barter Network. ITEX allows businesses to trade with each other for ITEX currency. The brokerage helps build membership on the ITEX network and supports local members in earing more business and spending ITEX currency. Steve White is the CEO of ITEX Corporation and is located in Bellevue, WA.

Tax accountants have told me that the IRS treats the ITEX dollar the same as cash. If you spend on personal you will have to claim it as income. If you spend on a legitimate business expense you can write it off. Be sure to speak to a tax professional to confirm these statements.

You will have to consult your tax accountant or CPA professional.

ITEX is the largest barter exchange in the US and Canada and has an accounting system that will track, each sale, purchase and any and all fees charged. As a member, you can access your transaction history through logging into your ITEX account at ITEX.com