19/07/2006 18:48 Filed in:
Appenzeller
I was reading the other day, about the Swiss Blog
Awards and was a little surprised, to see that the
winner was awarded her
prize in Reka cheques. This reminded me of a
strange fact - the Swiss officially have three
currencies. (five?)
There is, of course hard cash in form of Swiss
Franks - nothing to beat them, or so the Swiss
think.
If that is so, then why on earth, did they also
invent Reka cheques and WIR?
Reka checks are vouchers created by the
Schweizerische Reisekasse (Swiss Travel Fund), sold
at a discount by many companies and associations to
employees or members for the purpose of promoting
family tourism within Switzerland. They are
accepted as payment medium by many Swiss railway
and transport enterprises, hotels and other
establishments in the tourist field. Thus said, one
would think they were travellers cheques - one
would be wrong! You can also use Reka cheques at
the petrol station, at the Co-op and in many
restaurants.
WIR is an abbreviation for
Wirtschaftsring-Genossenschaft, a cooperative based
in Basel that has been operating a cashless payment
system on the basis of a closed circular flow of
money since 1934. WIR cheques are not cheques as
defined under Swiss law. WIR booking orders are
never paid out in cash, but instead entitle the
bearer to acquire goods and services offered by WIR
participants by way of exchange. (
UBS)
The idea behind both systems, is a closed economy -
keep business in Switzerland. Neither currency is
accepted outside Switzerland - they have to be
spent here. Essentially a sound economic basis,
keep imports down and the cash flowing.
How strange then, that when you actually try to use
them in Switzerland, people look down their noses
at you as if you were trying to pay with
counterfeit Turkish Lira!
Reka cheques are held under ultra violet light and
rubbed between thumbs, while at the same time you
can sense a member of the staff edging towards the
door, just in case you try to make a bolt for it.
If you try to pay with WIR, the vendor always
starts to haggle 'well, I'll take 30% WIR, but
you'll have to give me the rest in Franks' and you
can bet your last Dollar, that if he will take 100%
WIR, he is pulling the wool over your eyes - either
the quality or the price stinks!
I just don't understand why then - if no-one wants
the stuff - it is in circulation at all!
Strangely - if you pull out a wad of Euros, you can
pay in most shops with them and in Tourist centres
you can even pay with Dollars!