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TallyMoney vs the banks: A direct comparison

A lot of us don’t think twice about putting money in our current account.

We’ve done it our whole lives.

But the truth is, by doing so, you’re supporting a system designed to drain the value of your savings.

Thankfully, there’s another option now because TallyMoney gives us a choice in everyday money.

You can register to open your account and begin protecting your wealth and saving in physical gold here.

With TallyMoney, you’ll enjoy uplift in value over time of gold vs nominal interest paid by your bank, instant access to your money and tax advantages on any uplift..

In fact, let’s take a look at how a TallyMoney account stacks up against the UK’s top savings accounts in the table here and break it all down below…

Interest rate

We take low interest rates as standard today. But we shouldn’t. It’s the return your bank is paying you for you giving them permission (it’s in the small print) to lend out your money for their profit. That profit is currently at a record high. Yet even a good account rate of 5.05% falls well short of the Bank of England’s 5.25% base rate. Gold has generated an average annual account return of 10.56% p.a. since the start of the century (since 2000) – more than double any bank rate. And rather than lend your money out for profit, TallyMoney stores gold for you in a secure Swiss vault. And through their app and debit card, you can use it as everyday money.

Fixed FX rate, gold handling and processing fee

Tally charges a fixed 1.49% on your deposits (free for transfers out and spending). It’s a deposit fee you won’t pay with a bank. But it’s the cost of getting out of pounds and in to physical gold. And gold’s 10.56% p.a. average annual return since 2000 is a LOT higher than the annual interest rate paid out by any current account. Sure, you can invest in physical gold in other ways. But with platforms charging upwards of 5% for transfers in and out of gold, none match TallyMoney on usability and low cost.

Account keeping fee

Banks brag about not charging account keeping fees, but they do indirectly by paying less interest on savings and charging more interest on loans. Whereas our fee is transparent so you know what your true cost of services is, and our fee ensures that your money stays safely vaulted and easily accessible. Banks don’t hold your money for safekeeping. They lend it out (because you’ve lent it to them – again, in the small print). If the loans default, you’re the one who risks losing your cash. Tally guarantees your money is safe and accessible around the clock, all of it, with no limitations on your account balance. We don’t lend out your money or lend against it.  It’s yours, not ours, as it should be in our opinion. It’s all very boring, in fact – we hold your gold shown as tally in your TallyMoney account and keep it locked, safe and insured in a Swiss bank vault. That peace of mind is what the monthly account keeping fee 0.5% p.a. pays for (£4.17 p/month on £10,000 balance).

Net return

The next time you see your high-street bank bragging about its free accounts, it’s worth remembering that, on average, Tally pays nearly double what they can – even after our fees are applied. You may think twice about sitting your savings in an appreciating asset like gold. We admit it’s unusual in a world where banks are the norm and pounds are what we’ve been used to. But at the end of the day, we all want the greatest protection and return on our savings possible. With TallyMoney, you now have a choice.  It’s up to you to pick what’s best for you.

No penalty for early withdrawals

Penalising you for accessing your own money is weird. Full stop. But the idea is that fixed accounts penalise you for early withdrawals because it messes with what they can earn from your cash. In exchange for not breaking the “agreement”, you get a higher rate for a certain period. But why settle for one or the other? At Tally, we give you the best of both worlds. We never charge you for account withdrawals. Plus, while your money is with us, it holds its value in gold, which historically outperforms even the best UK accounts.

Instant access

Accessing your money is a game of compromise with UK banks. Current accounts offer you instant access, but the interest rates they pay you are peanuts. Fixed accounts offer you better interest rates, but your withdrawals come with a wait and a charge. You’re better off with Tally. Whether it’s for clothes, groceries, or bills, your money is available whenever and from wherever you want it. And when not in use, it retains its value as gold, which historically increases against the pound at an average annual rate of 10.56%p.a. since the start of the century. So with Tally, you enjoy the flexibility of instant access with the security, stability and value of gold savings.

If your account provider fails – savings protection

If your bank goes bust, it’s their fault not yours. That’s obvious. So, why are we treated as if we personally pressed the self-destruct button when things go kaput in the UK? When banks close, £85,000 of your account balance is protected under an insurance-type structure called the Financial Services Compensation Scheme (though it can take more than a year to get your money back). And anything beyond £85,000 that is as good as gone. It’s a heavily flawed system that stacks the deck against savers. In the unlikely event of Tally’s closure, 100% of your unlimited gold balance will be sold, and the proceeds of sale, less a 1% admin fee, will be transferred in to your non-Tally account within seven working days. 

Tax free threshold

The government will stick its hand in wherever your money is concerned. Your current account is no different. If you’re a higher rate taxpayer, you get to keep the first £500 you earn in interest every year. The taxman takes 40% of everything beyond this measly threshold. TallyMoney sets things straight by letting you keep more of what’s yours. When you transfer funds to another Tally customer, make payments with your TallyMoney Debit Mastercard, or take cash out, any gains or losses are treated as capital gains. So, you get to keep all of the first £3,000 you make (rather than £500). Then you pay 20% on anything else (rather than 40%). Another tick in the box for Tally. 

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Real World Examples

  1. Fancy a coffee? Use your TallyMoney Mastercard. Boom – paid. (Yes, you’re buying a flat white with gold. How amazing is that?)

  2. Need cash? Use any Mastercard ATM worldwide or spend across the globe. ZERO fees from us, ZERO markup. (When you spend or withdraw, your gold converts instantly at the global spot price. No catches, no hidden charges – just straight-up Mastercard exchange rates. Because your money shouldn’t cost you… more money.)

  3. Want some money back in your bank? Just tap ‘transfer’ in the app. (Though after a while, you might wonder why you’d want to…)

    Zero faff. Zero waiting. Zero fees when you spend tally.

Meet Cameron Parry

Meet the guy who wouldn’t accept being trapped in a ‘heads they win, tales we lose’ government-run monetary system that protects and benefits the financial institutions, to the detriment of the public. Where people’s deposits are constantly at risk, and losing value through inflation caused by central bankers and politicians.

If necessity is the mother of invention, then frustration may be the roommate’s cousin of motivation. In any case, he decided to stop getting mad and start a new monetary system with sound money. Where deposits serve the depositor, where savings build wealth for savers, and transactions are made in a familiar way. And he called it TallyMoney.

TallyMoney: Gold upgraded

With TallyMoney:

  • Your pounds instantly become physical gold (1 tally = 1mg of real gold)
    Stored in Swiss vaults (not under your bed)
  • Fully insured and allocated (actually yours, not a paper promise)
  • Spend it anywhere with your TallyMoney debit Mastercard
  • Transfer back to pounds instantly if needed (but why would you?)

We’re not anti-bank because it’s trendy. We’re anti-bank because the current system is rigged against you. Every day you leave money in a “savings” account, you’re funding their profits while your wealth evaporates.

Enter gold: the original currency

Why gold? It’s value is universally acknowledged.

  • It’s not controlled by any single government
  • It can’t be printed or manufactured
  • It’s actually scarce 
  • It requires effort to extract it 
  • It doesn’t rust, decay, or disappear
  • It has remarkable properties

So while the pound’s lost 50% of its value since 2004, gold’s grown by 146% in the last decade alone. While your bank savings got mugged by inflation, gold owners were laughing all the way to… well, not the bank.

But here’s the rub: Traditional gold ownership is a right pain. Buy physical bars? Prepare for storage fees that’ll make your eyes water, insurance premiums that never end, and a 5-10% haircut when you need to sell. Plus, try buying your weekly shop with a gold ingot.
Paper gold ETFs? They’re classed as Tier 3 assets for a reason – that’s financial speak for “risky as hell.” You don’t own gold, you own a promise. A tradeable IOU. And when everyone wants their gold at once? Good luck with that. So you’re stuffed either way: real gold that’s impossible to use, or fake gold that might not be there when you need it.
Until now.

The truth about inflation

How? Well, when politicians overspend (and they invariably do), they need more money to ‘stimulate the economy’. But raising taxes makes voters angry. So what do they do? They fire up the money printer, and boy do they love to print. To give you a sense of the scale, since 2015 the Bank of England has created £520bn out of thin air through “quantitative easing” (electronic money printing) plus £86bn in physical currency. 

Thing is, more pounds in circulation = each pound is worth less. Think about it: In 2004, £100 could buy you a decent night out, theatre tickets, and a cab home. Today? That same £100 barely covers the theatre tickets. Your money didn’t disappear – it was diluted, like someone’s been topping up your whisky with water when you weren’t looking.

The “2% inflation target” they bang on about? That’s them telling you they plan to steal 2% of your wealth every single year. And calling it healthy.

How TallyMoney actually works?

  1. First things first: we’ve got actual gold bullion* (none of that paper-promise nonsense) locked up tight in a Brinks vault in Switzerland. Yeah, those Brinks – the security legends who’ve been protecting valuables since Queen Victoria was on the throne.

  2. You send your pounds to your TallyMoney account (bye-bye, inflation-addicted fiat!).

  3. We use the global gold spot price to instantly turn your currency into its weight in gold. No hidden or fuzzy exchange rates, just the real market gold price + 1.49% gold purchase fee.

  4. Each milligram of your physical gold = 1 tally (we keep it decimal because no one wants to faff about with troy ounces – the specific unit for measuring gold).

  5. That’s it! Your app shows your balance in tally, but remember – those aren’t just numbers on a screen. That’s your solid gold, in milligrams, sitting pretty in Switzerland.
  6. You can now save and spend your gold as you see fit.

*All Tally gold is sourced from LBMA-accredited providers because we’re rebels with a cause… and standards. Instead of tracking the gold price per kg, your money is directly converted based on the real-time global gold spot price.

TallyMoney is 
real money

  1. Store of value
    Your gold sits in a Swiss vault (not getting ‘quantitatively eased’ away)
    Evidenced by 5,000 years of holding its value
    Can’t be inflated by government whim and fingers on the ‘currency print’ button
  2. Medium of exchange
    Spendable at 150+ million shops worldwide (thanks, Mastercard)
    Currency converts instantly at market rates (no sneaky margins)
    Moves as quickly as sending a text 
  3. Unit of account
    1 tally = 1mg of gold. Simple
    Stable enough to actually plan your future with
    Speaks every currency’s language (gold’s kind of a big deal everywhere)

This is why TallyMoney is so much more than just owning Gold – it’s a real financial revolution. We’re not just helping you own gold; we’re bringing back what money was always meant to be. Sound Money for a Brighter Future. Because your hard work and wealth deserve better than being slowly robbed by external forces.

We want you to have real money

  1. A store of value:
    Keeps its value over time
    Insulated from devaluation/inflation
    Actually rare and can’t be created out of thin air
  2. Medium of exchange:
    Easy to use for everyday transactions
    Widely accepted
    Can be transferred efficiently
  3. Unit of account:
    Works like a proper value-measuring stick (imagine if your ruler shrunk every year – mad, right?)
    Splits nicely into useful bits
    Reliable enough to plan your future with

Why does this matter? Because your hard work deserves better than being turned into monopoly money by someone else’s actions. Every time your currency loses value (inflation) its stealing from your past work, which harms your present savings, and your future dreams.