When you deposit funds into your Tally bank account, you are purchasing real, London Bullion Market Association approved physical gold (not this guy’s kind of London gold).
Your gold is stored in a secure vault in Zurich, Switzerland, where it is 100% insured and protected. This gold is reconciled daily and audited monthly. Here’s why...
Most people are pretty familiar with the law of supply and demand. When demand outweighs supply, the value of that good or service increases. Think Uber price surges. Grrrrrr.
The problem with fiat currencies like Pounds is that governments keep increasing supply through initiatives like Quantitative Easing. And creating more Pounds only reduces the value of all Pounds. Including all that money you’ve been squirrelling away. We know, it’s nuts!
By anchoring money to a physical asset that can’t be digitally created on-demand, Tally protects the long-term value of your hard-earned cash.
What if we told you that the money in your traditional savings account belongs to the bank, not you? What if we told you that when you deposit money into a fiat bank account, you’re actually loaning your money to the bank (with almost zero return)? And what if we told you that it’s 100% legal for the bank to limit or block your access to your funds?
Sounds scary, right? And yet, this is the sum of the banking industry’s small print. With Tally, you own a physical asset that is never lent out, leveraged up or invested. Your money is therefore always 100% owned by you.
Good news! Even though traditional banks are legally allowed to confiscate your money, the Financial Services Compensation Scheme (FSCS) has you covered. Bad news. There’s an £85,000 cap on that compensation. Good news! Because Tally operates outside traditional banking, it’s not limited by the FSCS’s cap.
And in the unlikely event that anything happens to the company that runs the Tally banking platform, 99% of your Tally gold will be promptly converted into your local fiat currency and deposited back into your non-Tally bank account. No limits. No caps. The 1% pays for the quick and efficient return of 99% of your money.