Calculating foreign exchange rates

With the exception of TARGET closing days, every day at 4 pm, the European Central Bank (ECB) publishes foreign exchange rates based on the daily average of central banks across Europe. Acting as a point of reference only, these rates are not made available to individuals. Instead, card schemes including Visa and Mastercard set their own exchange rates, which can be above the ECB’s aggregate. Many high street and digital banks then add a markup to the exchange rate set by their chosen card scheme. At Tally, we’re proud to pass on Mastercard’s exchange rates directly to our customers, no matter which currency or country you’re operating in.

Below are the latest rates for spending abroad with your Tally Debit Mastercard^®:

European Central Bank rate

Mastercard rate

Tally mark-up over Mastercard rate

0.00%

Difference between Mastercard and European Central Bank rate

Please remember that exchange rates can fluctuate and may change between the time a transaction is made and the time it is deducted from your available balance. You agree that any change to the exchange rate may be applied immediately and without notice to you.

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Value of tally in GBP fluctuates in line with the gold price. Tally and TallyMoney are registered trademarks with respect to the goods and services the marks are registered for. UK-incorporated TallyMoney UK Ltd and its Guernsey-incorporated parent entity Tally Central Ltd (together “Tally”) buy, hold and sell physical gold for customers and provide the TallyMoney Accounts and the tally currency (“TAG”). Each unit of TAG represents 1 milligram of insured allocated physical gold held in high security vaults for and on behalf of the customer by Tally.

Payment Accounts with sort code and account number used to receive GBP funds transfers are issued by Transact Payments Limited (TPL), a licensed electronic money institution authorised and regulated by the Gibraltar Financial Services Commission to issue electronic money and provide payment services. TPL is incorporated and registered in Gibraltar with company number 108217 and registered office is at 6.20 World Trade Center, 6 Bayside Road, Gibraltar, GX11 1AA. Whilst Electronic Money products are not covered by the Financial Services Compensation Scheme, any customer GBP will be held in one or more segregated accounts and safeguarded in line with Part 4 of the Financial Services (Electronic Money) Regulations 2020.

Your TallyMoney debit Mastercard is welcomed at millions of locations worldwide. This card is issued by Transact Payments Limited pursuant to licence by Mastercard International Incorporated. Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.

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