Till is a collaborative family banking platform for parents who want to give more financial independence to kids, ultimately raising them into smarter spenders. The mobile app allows you to quickly move money that your kids can spend and set up saving goals for your kids. Even though you always remain in control, your kids can start controlling their finances from an early age. They can use their Till family account to gain spending power, as it comes with their debit card. Till turns teens into responsible young adults, giving them a real bank account, a debit card, and financial tools to gain more financial independence.
Opposite to traditional family banking, Till is the first collaborative family banking app that provides your kids with their bank account, digital and physical debit cards, and goal-based savings tools. You can develop trust in them to make their own financial decisions to spending, saving, and earning money.
Till’s platform allows your kids to set goals for saving: what they want to save for, by when, and how much. They can earn money through real actions, like chores, which are automatically tracked. This helps them understand better the value of saving, teaching kids about money management. If they have big goals, like buying a first car, you can invite your other family members, like grandparents, to contribute towards it, for example, as a birthday present.
Apart from savings, Till also lets your kids set purchase goals, behaving like a young adult with money responsibilities, teaching them smart spending habits, and preparing them for the real world.
Till: Collaborative Family Financial App
Till Financial’s founders are all parents who wanted to build a financial tool and platform for families of all sizes to raise more financially independent and smarter spenders kids. Till Financial was founded to create impactful financial wellness habits for kids.
Till provides your kid’s first banking experience, equipping them with a teen bank account, a debit card, and the family finance tools to collaborate on how and what they spend and save money.
Used for children and teens from 8 to 18 years old, Till is currently available for iPhone and iPad, and it has no subscription or monthly fees. Through the app, you can also find fee-free ATMs to withdraw money from the account.
Is Till FDIC-insured?
Coastal Community Bank, Member FDIC, provides all Till accounts and all banking services of Till’s app. The Till Visa card is issued by Coastal Community Bank, pursuant to license by Visa U.S.A. Inc. This means your deposits at Till accounts are FDIC-insured up to the legal limits set by the Federal Deposit Insurance Corporation (FDIC).
Till’s Features
The app comes with a real bank account, a debit card, and financial tools to teach your kids about money. Instead of them simply asking about money, they can use the app to set saving and spending goals, timelines, and financial agreements to “earn” their money through tasks completed. This is a method of teaching kids the value of money and financial responsibility to make better spending decisions.
- Kids Can Spend Money Independently: When you open a Till family account, you can invite your kids (8-18 years old) to join the family and spend the money you put in the account as a parent. You can also invite family, friends, or others to add money to your kid’s account to spend on special occasions or contribute towards a more significant purchase, like their first car.
- Kids Can Set Financial Goals: Kids can set spending and savings goals and recurring payments for subscriptions from the account, always with your supervision as a parent.
- Kids Can Reach Out to Your Community to Make Progress: Your kids can ask family, friends, and community members to help them reach their financial goals.
How to Get Started with Till Financial
Any U.S. resident over 18 years old can set a Till family account through the Till app, then invite kids from 8 to 18 years old to the account who can use a digital or physical debit card to spend money in the account. Family, friends, and others can also be invited to the family account to make contributions.
To set up a Till profile, you will need to verify your phone and email address. And to open a Till account, you will go through an identity verification similar to the ones you go through when opening a bank account, so you will have to provide your social security number and address.
You can download the Till app to easily go through the process.
