It’s one of the most common questions we hear:
“Can I actually use a TallyMoney bank account like a normal bank account?”
And while we don’t like to call it a ‘TallyMoney bank account’, the short answer is: Yes!
Not only do you get all of the modern conveniences of a regular bank account (like a debit card so you can spend your funds whenever you want), you also get a heap of benefits like protection from inflation, capital growth in line with the gold price, and unrestricted access to your money.
To understand the benefits that TallyMoney gives you over a regular bank account, let’s explore ‘the long answer’ in more detail.
The long answer…
To start, let’s be clear. A TallyMoney account gives you all the conveniences of a regular bank account for day-to-day money, but instead of your savings sitting in pounds where they lose value over time, they’re held in gold.
With a TallyMoney account, you can:
- Send and receive money
- Make payments
- Spend with a debit card
- Use your account for everyday transactions
- Save with the peace of mind that your money is protected from inflation
As inflation silently erodes the value of the pounds sitting in your bank account, and politicians increasingly squeeze and tax your savings more and more, TallyMoney gives you a way to opt out.
When you hold gold, you are shielded from inflation meaning your purchasing power holds its value over time.
Gold vs pounds in a bank
Whilst the pound is getting weaker and weaker, gold is moving strongly in the opposite direction. Let’s take a look at the gold price over the last 10 years:
- In the last 10 years: 358% growth ↑
- In the last 2 years: 128% growth ↑
- In the last 1 year: 63% growth ↑
Pause for a second and look at those growth figures again.
Now compare that with the interest rates banks offer. Even the best ISA accounts only return around 5% per year.
So let’s do the maths.
In the last 1 year:
- £1,000 in a TallyMoney account grew to over £1,630
- £1,000 in an ISA account only grew to around £1,050
The truth is that banks simply can’t compete with gold.
Like anything else, the price of gold can fluctuate in the short term but it is proven to rise over time. By contrast, pounds sterling is proven to lose real value over time. So whilst past performance is no guarantee of future results, TallyMoney is perfect for people who want to build their savings for the long term.
What makes a TallyMoney account “regular”?
From a practical point of view, your TallyMoney account behaves just like a traditional bank account.
You get:
- Your own UK account number and sort code
- A TallyMoney debit Mastercard® you can use online, in-store, and abroad
- Instant access to your money via the app
- The ability to send and receive payments as normal
You can use your TallyMoney account for everyday spending, budgeting, and saving, just as you would with a high-street bank.
So what’s different?
The difference is that with TallyMoney, the money you transfer in is automatically converted into gold. Real gold that is stored securely in Swiss vaults and insured on your behalf.
Why? Because gold is a globally recognised asset with a limited supply. It can’t be printed out of thin air like the pound sterling can, so while fiat currencies, like the pound, lose purchasing power to inflation, gold holds its value over time.
With a traditional bank account:
- Your money is held in pounds sterling
- Inflation steadily reduces what those pounds can buy
With a TallyMoney account:
- Your balance is held in tally®
- 1 tally = 1 milligram of physical gold
- Your savings are in real, LBMA-certified gold
When you buy something or withdraw your funds from an ATM, your gold is converted back into fiat currency instantly behind the scenes.
Can I use TallyMoney for everyday spending?
Yes, you can spend through the app or with your TallyMoney debit card:
- In shops
- Online
- For subscriptions
- At ATMs
- At home or abroad
For all intents and purposes, your TallyMoney debit card works just like spending from a regular bank account.
Is TallyMoney a bank?
No. TallyMoney is NOT a traditional high-street bank, and that’s deliberate.
Traditional banks:
- Hold your money in fiat currency
- Lend it out
- Only offer low interest rates that barely keep up with inflation
- Can (and often do) restrict access to your funds
The inconvenient truth is that, legally speaking, when you deposit money into a bank account, you don’t own that money anymore. You are technically a creditor of the bank, meaning they can lend your money out and expose it to risk without your permission.
TallyMoney is built differently:
- Your money is held in real, LBMA-certified gold
- You own it 100% outright
- It is never lent out
- Your access is never restricted
That’s why more and more people use TallyMoney as their main spending account, their long-term savings account, or both.
Who is a TallyMoney account best for?
TallyMoney has been designed to give people an alternative to the broken fractional reserve banking system.
A TallyMoney account is ideal if you:
- Want to protect your savings from inflation
- Want the conveniences of modern banking with the benefits of gold ownership
- Want unrestricted access to your money
- Prefer transparency, simplicity and control
TallyMoney is not a trading platform, a cryptocurrency or a gold ETF. It’s an account that lets you own real gold so you can supercharge your savings over the long term.
So let’s sum it up
Yes, you can absolutely use a TallyMoney account just like a regular bank account.
You get the same everyday functionality:
- Account number and sort code
- Debit card
- Payments and spending
But instead of watching your money lose purchasing power over time, your savings hold their value and grow in line with gold, an asset that has been used to preserve wealth for thousands of years.
In simple terms, you get the best of both worlds: the inflation resilience of gold with the convenience of modern banking.
