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Why Tally deserves your time (and attention)

08 May 2020

Written by Team Tally

Banking

We know that the concept of Tally is a stretch for some people.

This might seem like an odd thing for a company to say about their own product, but the reality is that a lot of people simply don’t want to think about the type of money that they use. In such frightening and uncertain times, there’s a lot we are (quite rightly) worrying about, and most of us are looking for ways to simplify our lives and reduce anxiety, not have another thing to be concerned about.

Ironically, this is exactly where Tally can help and it’s worth spending a few minutes of your time learning about the solution… to a problem you may not have realised you have.

In a nutshell, Tally is monetised real, physical gold, locked in a real high security vault (1 Tally = 1 milligram of gold). You instantly transfer your money into your Tally banking account (with your own sort code and account number) and it automatically converts to Tally (real gold in the form of money), that you can access anytime by transferring your Tally directly to another customer, to your bank account OR spend it instantly on your Tally debit Mastercard anywhere in the world (when we’re allowed to travel again). You can even withdraw Tally as cash at ATMs.

Why would you bother to do this?

Until now, your only mainstream money option is fiat money (which is government-issued and given value by command), such as GBP £. The problem with this is that this money loses money by design - the value is designed to go down - this is called inflation. This means that what you earn and save today, will not buy as much in the future when you need it and as prices go up (inflation), your money is losing value. It simply cannot buy as much as it could. And when you put it in the bank you do not earn enough interest to make up this gap. Unfortunately, with the amount of money the government has had to ‘print’ to get businesses and people through the corona virus crisis will only make this devaluation worse.

Tally is different. Tally is accountable money, when you transfer into a Tally account you own 100% of a physical asset, gold. Whilst the price of gold does fluctuate against other currencies (such as GBP), it is historically proven to hold its value over time. And its value is better protected from political, economic (and pandemic!) events since it’s a real asset that everyone recognises as having real value. With Tally you’re just using it as your everyday money - you’re not locked in in any way.

Take a look at this chart above on how gold has performed against GBP over the past 20 years.

So let’s look at this from another angle. If the value of gold maintains its value over time, let’s look at what is really going on with the value of your pounds over the last 20 years.

Who knew this was happening? We did. So we did something about it and created Tally. And now you can too, by using a Tally banking account.

Who would use Tally?

There are lots of reasons why you might choose to use Tally. Right now, the biggest benefit for most people is to protect the value of your money so that your savings maintain their value for when you need them - be it weeks, months or years from now.

There has never been so much money printing going on, and that leads to devaluation of the existing notes and coins and people’s bank balances. So any bank account holding the local fiat currency (like £, €, $) is losing value and it appears this may become even more rapid.

Another reason to switch to Tally, and it may seem a long way off, but when we are allowed to travel again, Tally is the perfect travel money. Wherever you are in the world, Tally will seamlessly convert (at the global gold industry wholesale rate, with no added FX fees or margins) directly into any local currency, anywhere that accepts Mastercard. Even at ATMs. So it makes sense to save for that dream post-lockdown holiday in Tally now, then spend in Tally when you’re finally there - all in the one account with the one debit card.

Some of our customers simply like that they get to choose the money they use. Until now, as a consumer there has been no mainstream choices of money, Tally allows people to make their own choice of currency to best protect their family.

Finally, Tally is the quickest, cheapest way to hold real physical gold which you can spend or transfer at any time. There is no minimum quantity, no organising storage or insurance or fees to move in and out of Tally. You get all the benefits of gold, without all the hassles.

It really is worth your time to download Tally and upgrade the money you use for savings and everyday banking.

Please leave any comments you may have about this article and if it was helpful for understanding Tally.