time bank

plural time banks · alternative timebank

1. A system for reciprocal volunteering that uses time as the unit of currency.

   Thanks to the Time Bank launched there in 2000, patients can now be prescribed if appropriate - not just with the usual pharmacological armoury - but with a friendly visit once a week, or a lift to the shops, or small repairs at home.

   2000, Edgar S. Cahn, No More Throw-away People, →ISBN, page 215

2. CanadaA system in which an employer keeps track of overtime hours that can later be redeemed as either money or as time off with pay.

   In British Columbia, where an employee requests it in writing, and employer may establish a time bank for the employee and credit overtime wages to the time bank instead of paying them to the employee.

   2005, Theo Anne Opie, HR for Controllers

3. card gamesA player's allotment of additional time in online poker games.