Money that is gold
When you transfer GBP in, you are purchasing real physical gold sourced from London Bullion Market Association (LBMA)-accredited providers.
The gold your tally represents is stored in a secure vault in Zurich, Switzerland, where it is fully insured and protected. Customer gold is reconciled daily and reviewed quarterly by independent auditors.
As the money in a TallyMoney Account represents real physical gold vaulted on behalf of and for the benefit of the TallyMoney customer, there is no fiat currency and the Financial Services Compensation Scheme (FSCS) does not apply.
When GBP is transferred in, it flows through a payment account in your name with sort code and account number to buy gold. For the brief period that your funds are GBP in the payment account they are not covered by the FSCS but protected under safeguarding rules that apply to electronic money institutions.
Money that holds its value
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.
Initiatives like Quantitative Easing enable the government to print more money. And creating more pounds only reduces the value of all pounds. Including all that money you’ve been squirrelling away.
By anchoring money to a physical asset that can’t be digitally created on-demand, TallyMoney protects the long-term value of your hard-earned cash.
Money that stays in your control
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 TallyMoney, you own a physical asset that is never lent out, leveraged up or invested. Your money is therefore always 100% owned by you.
Money that protects you
The gold represented by the tally in your TallyMoney Account, is safely vaulted on your behalf and never lent out, leveraged up or invested. tally is your money and it stays put, for you and only you to use.
And in the unlikely event that anything happens to the company that runs the TallyMoney savings and payments platform, your gold will be promptly sold and the sale proceeds, less a 1% fee, will be transferred back into your non-Tally account. No limits. No caps. The 1% pays for the administrative process for the quick and efficient return of your money.
