Yesterday I transfered some money onto my Tally card but it doesn’t appear to be on my card.
I’ve checked with my online banking and it says that the transaction is still going through.
I have also made other purchases using my online banking that have gone through successfully, is there a problem with the Tally transfer system?
Sounds usual to me. It’s not uncommon for it to take a day or so to appear sometimes.
Contact support and they can often speed things up.
Somebody will be in touch within 2 business days - what a complete joke!
Same here. Thing is Tally have got to sort this and make the process quicker and more reliable. Otherwise new customers will just decide it’s crap and will put their money elsewhere.
This is one of the biggest failings Tally has.
I’ve recently started using it more often and transfer my ‘spending money’ on to it.
I was running low on funds and transfered some on Friday early afternoon knowing I was going out on Saturday teatime and would want access to the funds.
That didn’t happen - they’re stuck in the twilight zone of the banking system and Tally.
This really isn’t good enough for a ‘serious’ debit card and as you say will ultimately turn people off from the product.
I agree with this. It isn’t good enough really these days to have to wait, everyone is spoilt with faster payments and it could put people off. I mean we aren’t depositing cheques here.
"There are, however, a couple of reasons why a faster payment into your Tally account may not be so fast - despite what the name suggests. The first is to do with the nature of Tally and the Faster Payment Network. This method of payment, however, was designed solely with traditional fiat currencies in mind. This means that every Tally customer has a GBP banking account which connects it to the traditional banking system, as well as the account which holds their Tally. Both are connected, but when a deposit is made, it first has to be converted into Tally. Normally this procedure happens within 2 minutes of the faster payment arriving, but as 1 Tally is 1 milligram of gold owned by the customer, held in a vault in Switzerland, a single large deposit, or an increased volume of deposits may result in a delay in your deposit.
In order for Tally to be deposited in your account, we must first purchase the gold via our LBMA accredited broker, and then allocate the gold (essentially verified as being physically purchased and moved in the vault) to Tally, which can take anywhere from a few hours up to 1 working day. In order to mitigate this we do maintain reserves of Tally (gold), but in the case of a very large deposit, or a dramatic increase in the number of deposits made, you may experience a delay whilst we go through the required steps to acquire your physical asset. The only way to completely guarantee this wouldn’t happen would be to issue Tally without corresponding gold in the vault, which is completely against everything we as a company stand for."
Basically, I’d always leave 1 full working day for deposits. If you deposit on Friday, that would be by Monday at some point.
Thanks, the deposit hit my account today, a full 60+ hours after it was sent.
If Tally have any ambitions about being a serious debit card then these anomalies need to be sorted. It simply isn’t acceptable that a debit card has no way of being credited over the weekend.
Surely Tally need to hold extra Gold over the weekends so that card holders can add credits to their accounts in real time.