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Fees, charges and limits – current customers

Written by Sally

Fee Table - Fees, Charges & Limits Information Document

Name of the account provider:

TallyMoney UK Ltd 

Account name: TallyMoney Account

Date: 21st of May 2024

This document informs you about the fees, charges and limits related to using the TallyMoney Platform.

Service

Fee, Charge or Limit

Accessing the TallyMoney Platform

Account Activation Fee

£29 upfront

Using the TallyMoney Account and In-App Safes

Account Keeping Fee

0.9% p.a. of the TallyMoney Account balance, calculated daily and charged monthly, which covers all outgoing account transactions and transfer activity, security, storage, insurance and ongoing operational costs.

Payments In

Purchase of tally®

  • The number of tally® acquired is calculated using the global gold market wholesale buy price of LBMA-certified one kilo bars of physical gold, irrespective of the amount of fiat currency deposited.
  • The wholesale market buy price for 1 kilogram gold bars from London Bullion Market Association accredited brokers is applied irrespective of deposit amount, with no other FX margins or mark-ups applied

TallyMoney Debit Mastercard®

Ordering TallyMoney Debit Mastercard®

TallyMoney Debit Mastercard® included in Account Activation Fee

Replacement cards

  • One free replacement card per annum
  • 200 tally® for any subsequent replacement cards in the same year

Spending and sending

Paying with tally®

  • The fiat currency value of tally® is calculated using the global gold market wholesale sell price of LBMA-certified one kilo bars of physical gold.
  • No transaction fees on payments out.
  • No transaction fees on transfers out and no added FX margins or mark-ups on card payments above the Mastercard exchange rate that is applied when paying in a fiat currency other than Pounds Sterling with the Card.

Daily spend limit

  • You can send via tally-to-tally transfer to another TallyMoney Account, up to the equivalent of £250,000 in tally® per day (or more by prior arrangement)
  • You can send via electronic funds transfer up to the equivalent of £20,000 in tally® per day (or more by prior arrangement). 
  • You can spend on your TallyMoney debit card up to the equivalent of £3,000 in tally® per day

ATM withdrawals

  • No charges for ATM withdrawals
  • Limited to 3 per day
  • Daily maximum equivalent of £250 in tally®

Sending tally® from TallyMoney Account to TallyMoney Account

Sending tally® from your TallyMoney Account to another customer’s TallyMoney Account is free

Using tally® outside of the UK.

FX fees

  • tally® to local currency converted using the global gold wholesale buy and sell price and the Mastercard® global FX rate.

ATM withdrawals

  • No charges for ATM withdrawals
  • Limited to 3 per day 
  • Daily maximum equivalent of £250 in tally®