The REKA check is a community currency which is circulated and backed by the Swiss Travel Fund. The currency is comprised of a series of vouchers which can be redeemed for goods and services from merchants which participate in the REKA community. It is one of the most widely used community currencies in Switzerland.
Around 9000 Swiss merchants – primarily in the transportation, hospitality and leisure sectors – accept REKA checks at their face value in place of Swiss francs. REKA encourages the use of REKA checks by selling them to the public at a discount on their face value. REKA also partners with many employers in Switzerland which pay employee bonuses or portions of employee salaries in REKA checks.
The most significant member of the REKA check community is the Swiss national railway SBB/CFF, which accepts REKA checks at face value in exchange for its services at all of its point of sale terminals. In addition to the SBB/CFF, the vast majority of other public transportation providers in Switzerland also accept REKA checks as payment. Numerous hotels, sports and recreation services (camp grounds, ski lifts, sport equipment rentals), restaurants and travel agencies across Switzerland also accept REKA checks.
Unlike many community currencies which are circulated on a non-profit basis, the Swiss Travel Fund maintains the REKA check currency on a for-profit basis and charges fees to participating merchants (similar to the merchant fees charged by credit card networks). Merchants benefit from participation in the community because REKA checks can only be redeemed at merchants which accept them, meaning REKA check holders will redeem their checks at REKA partners. The savings delivered to consumers via the discounted price at which REKA checks are sold provides an incentive for consumers to make purchases from REKA partner merchants.
More on this topic:
Guide to using Reka money to save
Alternative currencies explained
Easy ways to save money on gas in Switzerland
Simple tips for cheaper skiing in Switzerland
