Why isn’t my transfer showing?
At Tally, we’re delighted to be part of the Faster Payments Network, offering almost immediate electronic funds transfers between eligible accounts. However, some transfers to or from your Tally account can take a little longer to appear. Here’s why.
Because Tally represents physical gold that a customer owns, a single large deposit or an increased volume of deposits in a short time frame may represent more than the gold we hold in reserve.
When this is the case, we must first purchase additional gold via our LBMA-accredited broker before allocating it to the customer's Tally account, which can take anywhere from a few hours up to one working day. The only way to mitigate this delay would be to issue Tally without holding the corresponding gold in the vault, which goes against everything we stand for as a company.
To comply with legislation and regulations regarding fraud prevention, anti-money laundering and terrorist financing, Tally conducts security checks on all transactions. Whenever a transaction is flagged, a manual review is required before it can be approved. There are many reasons why a transaction could be flagged, and whilst this does cause a delay, it also protects our customers from fraud and suspicious activity, which is something we absolutely stand for as a company.