Has anyone used Tally?

[Deleted User]

https://www.tallymoney.com

As far as I can tell, if you upload money onto this Tally it becomes kind of an electronic coin? the value of which is tied to the gold price?

So if I put £10 in today, in five years it will (the tally value) have increased or decreased in value in line with gold. It is not FSCS protected. Has anyone given it a go?

tomla

Tally are firmly invested in gold. I guess they make their margin from setting the price at which you exchange your cash for gold, and back again to spend it, in their app. 

No longer a listed company. Recently changed company name. 

I don't think it's dodgy I just think its niche and you can achieve the same outcome, investing in gold, elsewhere with more established brands.

Albermarle

You can go to a UK  investment platform and invest in gold funds that are fully regulated , so why risk giving your money to this one.

[Deleted User]

Thanks for the replies.