Fee Table - Fees, Charges & Limits Information Document
Name of the account provider:
TallyMoney UK Ltd
Account name: TallyMoney Account
Date: 29th 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
The higher of 0.5% p.a. of the TallyMoney Account balance, calculated daily and charged monthly, or the equivalent of £3.00 per month (minimum not applied in the first part month), to cover all account reporting, security, storage, insurance and ongoing operational costs. Please note that should the account-keeping fee not be paid from the customer’s tally balance in their everyday account, it shall be taken from the customer’s in-app safe. Should account-keeping fees not be paid in full for 3 consecutive months then the customer shall have 30 days to remedy, or their TallyMoney account will be closed.
Payments In
Purchase of tally®
- The number of tally® acquired is calculated using the global gold market wholesale buy price of troy ounces of physical gold, irrespective of the amount of fiat currency transferred in.
- A simple fixed FX spread of 0.99% is applied on transfers in from GBP to tally plus a gold handling fee of 0.5%. Customer gold is then held and used at the global gold market wholesale buy price (i.e. there are no transaction fees or FX margins changed on payments out).
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 buy price of troy ounces of physical gold. No transaction fees or FX margins are charged 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®
