The Cashola prepaid debit card calls itself “the debit card that makes you smart before you swipe.” And by “you,” it means your kids.

Cashola was launched in 2020 by Goalsetter. Tanya Van Court is this company’s CEO and founder. Goalsetter is a black-owned and family run business that you may have seen on Shark Tank a few years back. And in fact, Tanya didn’t need the help of Shark Tank investors to get the company’s first product – a savings account for kids – off the ground (she walked away when she didn’t like Mr. Wonderful’s offer in 2019). After their Shark Tank appearance, the company went on to launch the Cashola prepaid debit card for kids in September of 2020 aimed at helping black and latino children manage their money and learn about personal finance.

This prepaid Mastercard, issued by MetaBank, and its accompanying money app strives to be a complete financial literacy resource. It puts learning front and center but makes it fun, and we like the ways it incentivizes saving. In this review, we’ll get into the specifics about Cashola to help you decide whether this prepaid kids’ debit card will meet your family’s needs.

[Related: See how the Cashola prepaid debit card stacks up against the competition in our rundown of the best debit cards for kids and teens in 2021!]

Who is it For

Target age: Kids between the ages of 6 and 16.

Good candidate: Families who want to prioritize education and saving.

This debit card is all about the educational features, so it’s best for kids who are motivated to really make the most out of the experience. With that said, it’s also great for kids who need a little push to take money management seriously because parents can require them to take financial literacy quizzes in order to use their card.

So really, this card is great for all kinds of kids and ideal for parents who want to teach their kids good habits in as many ways as possible.

Features and Benefits

This product is loaded with great features, so let’s get into it. Fair warning, Cashola uses a lot of interesting proprietary language to describe its offerings.

For Kids

Kids can earn more money for their account by taking quizzes and referring friends; use their Cashola debit card to spend money almost anywhere Mastercard is accepted, including in-person and online; and save their money in an (potentially interest-bearing) account.

💰 Earn: Goalsetter awards $5 to users for every person they successfully refer with their unique referral code. A successful referral requires new users to stay active for at least 15 days after signing up. And when kids complete a referral, Goalsetter also donates a dollar to charity on their behalf.

Another way kids can earn more money for themselves is by earning an allowance. Their parents may decide to pay this as a set amount on a recurring basis or they may require them to complete chores to earn their payments.

Finally, kids can make even more cash through the “Learn and Earn” feature. If their parents enable this, they can get paid to learn. Users can earn either one cent or one dollar for every quiz question they answer correctly and they can complete up to 10 questions a week. Kids must get at least eight out of the ten quizzes right to unlock a new set of quizzes the following Monday.

These quizzes are called “It’s Lit” quizzes and they cover the basics of financial literacy through an age-appropriate combination of engaging (think GIFs) and informational content. Goalsetter adjusts the difficulty of its questions based on a child’s age, but parents can adjust it. There are even quizzes geared toward the parents.

Users are given a “Cred-Lit” score that is determined by their success with quizzes. This is meant to serve as a barometer of their progress.

Parents can enable a “Learn Before You Burn” feature to require kids to complete their quiz questions, whether they’re getting paid for them or not. If their kids don’t finish all of their assigned quizzes, their debit card is automatically frozen and can only be unlocked once the quiz is completed (or their parent gives in).

Cashola does not at this time support direct deposit, but plans to allow this for users over the age of 13 soon.

💸 Spend: Cashola debit cards can be spent in-person almost anywhere Mastercard is accepted, online, and digitally. Cashola is compatible with digital wallets Apple Wallet and Google Pay, but please note that users under the age of 13 are not eligible to sign up for Apple Wallet. It can also be linked with CashApp or Venmo, if the user is eligible to have an account of their own or is able to use a parent’s account.

Cashola cards cannot be used to make purchases internationally or to make ATM withdrawals.

Kids can transfer money to friends and family members through the Goalsetter app, even if they don’t have Goalsetter accounts. They just have to download the app to receive the money.

Kids can move money back and forth between their spend card and their savings account without being penalized or having their account locked.

💰 Save: Cashola pays up to 0.25% APY cash back when a user’s savings balance equals at least $500. Kids may also receive money in their savings from other family members through Family Circle. People in their Family Circle can see a child’s savings goals and help with them.

A child can cash out their money saved at any time, even if they haven’t reached their goals. They can do this as many times as they want. However, the only way to actually cash out is through a parent’s account.

For Parents

Cashola accounts can be funded via ACH transfer from a linked external bank or debit card transaction. Parents can choose to transfer money right into their children’s Cashola cards or may put some into savings. They can decide what percent to allocate to each. Transfers can be made as one-time transfers or for allowance.

Cashola has an interesting approach to allowance and they call their different structures “rules.” 

The first Allowance Rule is called “Set-It-and-Forget-It.” This allows parents to give their kids a set amount every week regardless of what chores they complete. The second rule is “You’re on Payroll.” This allows parents to create a list of chores that must be completed before a child can get their allowance. Kids mark their chores as complete and parents approve them. The third and final rule is “Entrepreneur in the Making.” This allows parents to set prices for every chore and kids to complete as many as they choose to and earn an allowance this way.

Parents do not have to choose one type of allowance for their entire family—they can pick one based on which feels right for each kid. Kids do not need to have Cashola cards to be eligible to receive allowance payments through Goalsetter.

To buffer their kids’ savings, parents can enable Round-Ups to have every purchase rounded up to the nearest dollar (or $2, $3, $4, or $5) and the extra money automatically withdrawn from their linked bank account and placed in their Goalsetter account. According to Goalsetter, Round-Ups help people save an average of $10 a week. A bank must be compatible with Plaid to use Round-Ups.

Auto-save is another optional feature that allows parents to have a set amount deducted from their bank on a weekly or monthly basis and put into their Goalsetter account. They can then distribute this money into their kids’ savings

Parents can invite friends and family members to join their Family Circle. Anybody that joins a Family Circle can link an external bank account and enroll in Auto-Save or Round-Ups (or both) to help a child save for their goals.

Parents have complete control over where and how their kids use their Cashola cards. If kids need help pacing themselves when spending, parents can set budgets for them that place weekly or monthly caps on their card. They can also restrict certain merchants or merchant categories. Parents can see their kids’ activity from the app’s dashboard and will receive real-time notifications when their child uses their card telling them where it is being used and how much was spent.

Every Goalsetter can support up to seven kids with cards of their own.

How Much Does the Cashola Prepaid Debit Card Cost

💸 Fees: *no monthly fee, 2.9% plus $0.30 per Stripe transaction, no fee for low balance, $8 card replacement fee

*Cashola uses a “pay what you think is fair” model, which is incredibly unique for this kind of product. Parents can pay nothing at all every month, if they want.

The Cashola card cannot make international transactions or ATM withdrawals, so associated fees do not apply.

The 2.9% fee is assessed when you pay for a GoalCard with a credit or debit card. A GoalCard is a digital gift card issued through Goalsetter to support a child’s savings goals or help fund their account. To avoid this processing fee, you can pay for a GoalCard by linking an external bank account. GoalCards can be gifted to children with Goalsetter accounts and children without accounts (if they don’t have one, you can use their email address and phone number).

Benefits of Cashola Over Competitors

Cashola’s main draw is that it gives the family more choices than the average app of this kind. It gives kids a lot of agency, letting them earn more money for themselves in a number of ways including referrals, chores, and more and allowing them to spend and save what they earn as they please. It also gives parents a few options for motivating their kids to learn more. The educational features of this app, and the fact that quizzes can be required, are definitely strong points.

Many parents will like the allowance options as well. With three plans to choose from, this product is adaptable for kids of different age groups and levels of experience with money management.

Allowing kids to make peer-to-peer transfers within the app or link their cards with an external digital payment platform is another thing Cashola does right.

Another strong point is saving. Cashola pays interest on savings balances of over $500 and allows parents to enable Round-Ups and Auto-Save for themselves to help their kids reach their goals. Using Family Circle and GoalCards, family and friends can also be a part of a child’s savings journey.

Potential Drawbacks

Unfortunately, Cashola doesn’t provide cash access to users. This may be an issue for you if your child is used to carrying money or you live in an area lacking digital payment accessibility.

Cashola also provides limited funding options, allowing for only ACH transfers and credit or debit card transactions at this time. Hopefully, direct deposit is added to this list shortly.

Consumer Sentiment

Goalsetter seems to have fairly high customer satisfaction. People praise the product for being engaging and helping kids learn about money. This account is especially great for pushing kids to save instead of spending their money. On the flip side, according to less satisfied users, funding and transfers have been known to take a while and setting up an account can be tricky.

The only way to get in touch with customer support is to send an email to hello@goalsetter.co. You should get a response within 24 hours.

The Goalsetter app has a rating of 4.1 out of 5 stars on Google Play and 4.3 out of 5 stars in the App Store. The app and platform can be a bit buggy for some users, but reviews are positive overall. Users love that friends and family can join in and give gifts and the interface is functional and easy to navigate.

Is it Safe

All Goalsetter accounts are federally insured up to the federally allowed limit of $250,000 through Evolve Bank & Trust.

Parents can keep their kids safe by restricting different merchants and setting spending limits.

How to Sign Up

To sign up for a Goalsetter account (and get Cashola cards for their kids), parents just need to provide their phone number on the site and will be prompted to set up a Goalsetter account. From there, they can fund their account and invite their kids to set up their own Goalsetter accounts. Debit cards will be sent in the mail shortly after signing up.

Final Thoughts

If you can keep track of the lingo Cashola by Goalsetter uses, this may be a great product for you. The Cashola debit card for kids lets the whole family get involved with helping kids be successful with their money, and this is a great card overall that offers a highly customizable experience.

This is an excellent product for parents looking for a platform chock full of educational resources. It’s flexible and fun for kids to use and gives parents choices about how they want their kids to spend their money, how they want their kids to earn money, and how their kids learn financial literacy skills.

There are now over 75,000 teens using the Wingocard Prepaid Visa Cards since they launched this Spring.

Wingocard launched in May of 2021 as a highly anticipated product backed with investments totaling more than $3 million, and it’s quickly gaining traction in the youth personal finance sector.

This card and mobile app resembles many others we’ve reviewed pretty closely in that it allows for instant transfers between parents and teens, provides detailed activity trackers, and enables parental controls. On top of these fairly standard features, Wingocard comes with above-average spending flexibility and a solid technical user experience. Overall, Wingocard is shaping up to be a great product. Get the facts you’re looking for here.

[Related: See how the Wingocard stacks up against the competition in our rundown of the best debit cards for kids and teens in 2021!]

Who is it For

Target age: Teens between the ages of 13 and 18.

Good candidate: Teens who want the freedom to spend their money almost anywhere.

Users must be at least 13 to be eligible to sign up for Wingocard, even with a sponsor. Sponsors are required for users under the age of 18, which is all of them—this is an app and card made exclusively for teens. Users over the age of 18 are not permitted to use Wingocard debit cards.

Features and Benefits

Wingocard parents sponsor their teens, which is just this platform’s way of saying that parents are the primary account holders and kids are the sub account holders and debit cardholders.

For Kids

The Wingocard prepaid debit card is all about giving teens spending freedom. 

💲 Earn: Kids can request more money for their accounts from their parents through the Wingocard app. They may also receive fixed regular allowances from their parent(s).

If a teen is employed, they can authorize direct deposit to their Wingocard account as well. The daily direct deposit transfer limit is $5,000, with direct deposits not to exceed $20,000 in a month.

Wingocard users can earn $2 for every successful referral they make (this bonus is paid per account, not per person). Referrals are successful when new users use the unique link provided to them to open an account, authorize it, and fund it. There is no limit to how many times this can be done. Wingocard even has a Leaderboard for users with the most referrals.

💸 Spend: Wingocard allows users to have both a virtual debit card and a physical debit card, both with the same card number and PIN. The virtual card can be issued immediately upon request and the physical card will come in the mail shortly after. The virtual card is compatible with Apple Pay. There is no cost associated with requesting or using either card.

Wingocard debit cards can be used almost anywhere Visa is accepted, including on international purchases, with exceptions such as restricted merchant categories in place for the sake of minor safety.

Teens will be able to see all of their spending activity from their account dashboard. Each purchase they make will show up on their account with details about how much they spent, when they last visited an establishment. They will also see what percentage of their money they use toward different spending categories such as dining, entertainment, and retail. They can spend up to $2,500 per day and $5,000 per month.

Wingocard users can use their prepaid debit cards to make cash withdrawals at over 87,000 ATMs. These in-network ATMs do not cost anything to use, but out-of-network ATMs may charge fees. Users may not withdraw more than $260 from an ATM in a given day or transaction. 

The maximum balance for a teen account is $8,000. It is not possible to overdraft an account or take out credit with Wingocard.

💰 Save: Wingocard does not have built-in savings capabilities such as the option to create savings goals or separate money to be spent from money to be saved. If teens want to save, they will simply have to do so by refraining from spending.

For Parents

Parents can make instant one-time transfers into their teens’ accounts or schedule automated transfers for allowance and other recurring payments. One-time transfers are instant and allowance payments are made automatically at a parent’s chosen frequency.

Accounts can be funded in the following ways:

• Direct deposit
• ACH transfer
• Credit or debit card transaction (only one credit or debit card can be linked to a parent’s Wingocard account at a time)
• Visa Direct load

Cash reloads and check deposits, either with mobile or paper checks, are not permitted. Linking an external bank account and initiating transfers through Wingo is one of the easiest and fastest ways to fund an account.

The most a parent can load per day via all funding types combined is $5,000. A parent can transfer up to $2,500 from their own account into their teen’s or from their teen’s account into their own. This is both the daily and monthly limit. Parents can load up to $250 at a time and per day when loading their account via ACH transfer or credit/debit card transaction, with a maximum monthly load limit of $2,500. The maximum balance for a parent account is $10,000.

Parents can see their teens’ activity from their dashboard and optionally receive alerts whenever a virtual or physical debit card is used. They can also set spending limits to help teach their teens to budget.

Wingocard parents cannot encourage their teens to save by awarding bonuses, matching contributions, or paying interest on savings balances. 

Every Wingocard account can support up to five sub accounts. There is no charge for adding extra. Parents can lock and unlock their teens’ cards, or even deactivate them, as they see fit. There is only one primary account holder per account, so co-parents may run into trouble.

How Much Does the Wingocard Prepaid Debit Card Cost

💸 Fees: No monthly fee, no inactivity fee, no funding fees, no transfer fees. $1 per Visa Direct transfer, 3% foreign transaction fee, 3% for international ATM withdrawal, $1.50 + 3% for out-of-network domestic ATM withdrawals.

There are no subscription fees on Wingocard accounts or upcharges when additional users are added. You don’t have to worry about monthly fees or maintenance fees that may sneak up on you either. For all intents and purposes, this is a free account.

ATM fees users may incur from third parties will not be reimbursed.

Please note: Wingocard is already hinting at a Premium version that will come with extra account features and options. This will be an optional paid version, but we don’t know yet how much it’ll cost and what capabilities it’ll come with.

Benefits of Wingocard Over Competitors

Wingocard provides better cash access than most other teen debit cards on the market. With such a large network of ATMs and the ability to make international withdrawals as well, users never have to be without cash if they want it.

But another advantage to this product is that users can also go completely cash-free, if they want to. If they don’t have their physical debit card on them, they can use their virtual card on their phone. The Wingocard Prepaid Visa Card is compatible with Apple Pay and more and more merchants are accepting virtual debit cards.

This product is also cheaper than most. If users don’t make purchases or ATM withdrawals internationally, they may just be able to avoid fees entirely for their account.

Customer service availability is another positive. Representatives respond to inquiries via chat and email over the weekend and there are several avenues for getting ahold of someone to help. Because this product is on the newer side, this could definitely be advantageous.

Potential Drawbacks

Wingocard’s lack of savings features may be a serious disadvantage for a lot of users. This is exclusively a spend card and it’s great for that, but some teens may be looking for a product that lets them spend, save, and even invest or donate their money all within one platform.

There is at this time no Android version of the app, and this is one of Wingocard’s biggest drawbacks. The company assures its customers and would-be customers that an app is in the works, but we don’t have any more information beyond that.

Wingocard also enforces somewhat low account and loading limits. Big families may feel especially restricted by total transfer limits between the primary account and sub accounts or by funding restrictions. Also, cash reloads are not permitted. This is pretty common, but still a potential drawback worth noting.

Consumer Sentiment

People seem to be feeling pretty good about Wingocard so far. However, a surprising amount of reviews for this product were left before the card was actually launched. Wingocard teased the card several months before actually releasing it, and this frustrated a lot of app users who were anxiously awaiting the arrival of a card that would make the app more useful.

But for reviews that do exist for the product as a whole, customers have many positive things to say about customer service and the platform’s easy-to-use features. Complaints center around long wait times for transfers to go through and occasional app crashes.

To reach customer support, you can chat in real-time through the Wingocard app, email support@wingocard.com, or call 1-833-699-4646. Chat and email is available between 9 AM and 6 PM EST Monday through Sunday and the phone line is open between 9 AM and 6 PM Monday through Friday. You can also use this link to submit a request.

The Wingocard app has a rating of 3.3 out of 5 stars in the App Store. There is currently no Wingocard app on Google Play, but Wingocard claims to be hard at work developing an app for Android users.

Is It Safe

Wingocard accounts are FDIC insured up to the federally allowed limit of $250,000 through Community Federal Savings Bank.

Wingocard users are covered by the Visa Zero Liability Policy, which exempts them from paying for transactions they do not authorize as long as they take prompt action to notify Wingocard of suspicious activity, loss, or theft.

Blocked transactions include money orders, travelers checks, wire transfers, and lottery tickets and purchases made on gambling/casino websites and adult entertainment websites.

The Wingocard can be used internationally, but some countries are restricted not by Wingocard but by the U.S. government. A complete list of countries blocked by  sanctions of the U.S. Office of Foreign Asset Control can be seen here.

How to Sign Up

It takes only a few minutes to sign up for a Wingocard account. First, a parent can sign up for their own account through the Wingocard website or app. Then, they need to invite their teen to join and sign up for their own Wingocard account. 

Alternatively, teens can sign up for an account and invite their parent(s), they’re just not eligible to get a debit card or account before their parent(s) or legal guardian has sponsored them.

If a user suspects fraudulent activity, they can email fraud@wingocard.com to receive a prompt response from a dedicated fraud center.

Final Thoughts

The Wingocard prepaid debit card has many benefits over its competitors and only a few significant drawbacks. Unfortunately, only Apple users can enjoy these features for now, so this product is not likely to become as popular as the competition until this changes. The Wingocard Prepaid Visa Card is also not ideal for teens or parents who want to focus on saving.

With that said, this product is an excellent option for teens overall, with excellent spending flexibility and a smooth user experience. If you’re looking for a banking platform to teach your teens financial responsibility and give them the spending opportunities they’re after, the Wingocard debit card and banking platform for teens may be for you.

Till Financial is a combination digital financial platform and debit card for the whole family. This product allows for collaboration not just between parents and their kids but also between kids and key people from their community.

Till was named the Best App for Teaching Teens to Budget in 2021 by U.S. News & World Report.

This app is all about saving but was also built to teach kids and teens to spend smarter (and less impulsively). It allows users to set goals for themselves and work toward them with the help and encouragement of their families, and the app makes it easy to get the most out of this product’s features.

Find out if the Till Family Banking Platform and Debit Card is right for your family by reading our comprehensive review below — or — see how it stacks up against the competition in our rundown of the best debit cards for kids and teens in 2021.

Who Is It For

Target age: Kids between the ages of eight and 18.

Good candidate: Kids and teens who have savings goals and families that want to be involved.

Anyone at least eight years old and no older than 18 is eligible to join Till and get their own debit card. A parent or guardian signs up for an account and becomes the Family Owner, and their kids become sub-account holders or dependents/beneficiaries. Family Owners or account holders may also invite other people to become Admins and help manage money and activity.

Features and Benefits

Till builds in a lot of protections to allow parents to keep kids safe from spending more than they should and opportunities to make saving highly rewarding.

For Kids and Teens

Every Till Family Banking sub account holder is eligible to receive a debit card in their name. They can only spend the money that is on their card. Other funds may be put into savings goals.

💰 Earn: There are a few ways users can earn more money for their accounts. First, they can complete the Tasks that are assigned to them. These may be chores or favors requested by their parents or an Admin. Next, they can save their money. Users may also earn more money for themselves, either from their parents or from other friends and family members, by working hard toward their savings goals. Finally, they may earn an allowance or receive Quick Gives. 

💸 Spend: The money on a user’s Till debit card is called their Spend Balance. This can be spent almost anywhere Visa is accepted, including in-person and online. A user may change their PIN at any time through the Till app.

Till debit cards are compatible with mobile wallets including ApplePay, GooglePay, and SamsungPay. They can also be used at ATMs to make cash withdrawals or check an account balance. Users can find free in-network ATMs through the Till app. There is a daily ATM withdrawal limit of $250 and transaction limit of $2,500 on every sub account.

Overdrafting an account or spending more than what is on a debit card is not possible.

💰 Save: The more money users save, the more they can earn. They can set up different savings goals in the app. Their parents may choose to match their savings contributions or even pay them interest on their balance (interest payments must be paid solely by Family Owners or Admins as they are not paid by Till).

Kids can easily see the progress they’ve made toward their goals from their dashboard, as well as any new contributions that have been made by them, their parents, or an Admin. When they reach a goal, their whole support team will be notified.

Every time a teen wants to move money from one of their savings goals to their Spend Balance, they must get their parent’s approval.

For Parents

Parents can add money to their child’s account through one-time transfers, recurring transfers, and savings contributions. 

One-time transfers are made in the form of Quick Gives and can be sent right to a child’s Spend Balance or card or to one of their savings goals. Tasks are another form of one-time transfers that allow Family Owners and Admins to create chores with set values. Sub-account users complete these as they are assigned to them, and payments are made immediately once a chore is approved by its creator.

Recurring transfers are automated contributions scheduled ahead of time. Types include Recurring Contributions, Matching Contributions, and Savings Interest Contributions. For Recurring Contributions, parents choose an amount to give and the day of the week they’d like the payment to go through. This option is good for fixed allowance payments.

Matching Contributions are made to savings accounts. For these, parents choose a percentage they’d like to contribute and specify which goal or goals to apply this to. This payment is then made every time a child funds that savings goal and is calculated based on the child’s balance at the time of the contribution.

Savings Interest Contributions allow parents to pay interest on their child’s savings balance. They choose the interest rate or percentage, the goal to apply it to, and the frequency at which they want interest payments to be made.

The person who opens a Till account is the Account Owner, and they may wish to choose an adult, such as their co-parent, to be the Account Administrator. The Administrator has all of the same abilities as the Account Owner except they cannot make changes to who owns the account or serves as an administrator. They can add money to a child’s account, move funds between accounts, contribute to savings, assign Tasks, and more. There can be multiple Administrators. 

The Account Owner and Admins have all access to a child’s transaction history, balance, and other activity. Both parties can enable account alerts to be notified when a child uses their card, contributes to a savings goal, etc.

The Account Owners and/or Administrators can also invite Community Members to help a child reach their goals. Community Members are only permitted to add money from their own account to a child’s account, either into a savings goal or to their Spend Balance. They cannot make changes such as transferring money from or within a child’s account or adding new users. Community Members must link their own external bank accounts to make contributions.

Community Members can also see a child’s savings goals and provide encouragement without adding money. Even teachers can become Community Members.

An account can be funded via ACH transfer, credit or debit transaction, check deposit, or direct deposit.

All ACH transactions are made through Plaid. If a bank is not compatible with Plaid, then it cannot be linked with Till. Cash deposits are not accepted. Limits

Till also has a referral program that allows account holders, not their kids, to earn money (somewhat unusual for a family finance account). To be eligible to refer another person, a user must open a family account, link an external bank account, and fund their account with at least $25. They also have to add at least one child as a beneficiary/sub account holder. Then, they will receive a referral link that they can share. If a person uses this link to open an account and meets the above criteria, both the referrer and the referred person will receive $10.

How Much Does the Till Family Banking Debit Card Cost?

💸 Fees: No monthly fee, no inactivity fee, no domestic ATM withdrawal fee*, no fee for returned deposit items, no fee for funds transfer, no fee for insufficient funds, $5 card replacement fee, 3% international debit transaction fee, $5 for international ATM withdrawals.

There are no subscription fees or maintenance fees. For the most part, this is actually a fee-free account. There is no fee for adding additional cards and sub-accounts to an account. Fees are only assessed for international transactions or by third parties.

Till defines inactivity as a period of 90 days or more without user-initiated activity. There is no charge for this, but Till reserves the right to close your account if it is dormant for this long.

*Till does not charge for ATM use, but out-of-network ATM owners may. There is no ATM reimbursement.

Benefits of Till Over Competitors

Till’s variety of savings incentives is one of its strongest assets. If a parent really wants to drive home the importance of setting aside money for goals, they can make saving worthwhile by paying their kids interest and matching their balance. It’s great that Till builds these options right into the platform and makes them easy to use and customize.

The option to add Community Members is also a feature that’s easy to appreciate. Allowing family members and others invested in a child’s financial success to participate in helping them save and cheering them on could prove beneficial for a lot of users, especially inexperienced ones. A support system can make all the difference in encouraging good financial habits.

Till also provides a decent range of funding options. Not the most we’ve ever seen, but slightly above average.

Potential Drawbacks

One of the primary complaints people are having about this product is that transfers are made exclusively through Plaid, which many banks do not support. Plaid is compatible with a lot of banks, but some banks don’t provide the details that Plaid needs to function. 

Another con is that cash deposits cannot be used to fund an account. Though a fairly common occurrence across family finance apps, this can still be limiting.

Also problematic is the fact that Till Family Banking isn’t supported by Android devices. Hopefully, this changes soon, but there is no word on when this may happen.

One final, fairly minor, potential drawback to note is that the referral program does not stand to benefit teens directly. Other kids’ debit products with referral programs make it possible for kids to earn a bit of money for themselves by telling their friends about their experience, but Till’s referral program targets parents.

Consumer Sentiment

The Till Family Banking app has a rating of 3.8 out of 5 stars in the App Store, but please note there isn’t a version of the Till Family Banking app for Google Play at this time.

Positive reviews about the product say that the app and platform are functional and easy for their kids to use. Users also like that Till teaches kids about financial literacy by giving them real and encouraging experiences. Negative reviews say that signing up and adding kids can be a bit of a hassle.

You can email support@tillfinancial.io with questions or concerns regarding your account and/or the app.

Is It Safe

All Till Financial users are automatically insured up to the federally permitted limit of $250,000 through Coastal Community Bank.

For added security, Till users can enable two-factor authentication for certain purchases and require Touch ID or Face ID to log into their account.

If a debit card is not used for 120 days or more, Till reserves the right to cancel it permanently.

How to Sign Up

To sign up for a Till Family Banking account, a parent can either provide their phone number on the website or install the app and sign up through there. They will be prompted to fund their account by linking an external bank and then given the option to add Admins, Community Members, and Sub Accounts.

There is no minimum opening balance required to create an account. Before signing up and funding your account, make sure that your bank is compatible with Plaid.

Final Thoughts

Till Financial launched its Family Banking app in April of 2021, and this product is already standing out from others like it. Its range of savings features and rewarding user experience make it competitive. However, there is not an Android version of the app and only banks compatible with Plaid are eligible to be linked.

But although far from perfect, Till Family Banking is a good platform. This debit card is ideal for kids who want to save and especially great for users new to managing their own finances.