How Till Financial is Building Smarter Spenders

In the evolving family banking landscape, a notable void has persisted: family banking solutions that cater to both parents and children. Traditional banking models fall short in delivering collaborative tools that support parents in raising financially confident kids. Family banking with Till Financial is a new platform and suite of financial tools built to fill that gap and redefine how families approach money management.

Till family banking was conceived by an uncle-nephew duo, two dads on opposite ends of the parenting timeline who were driven by a shared belief that young people deserve better financial outcomes. Their mission? To empower the next generation with practical, real-life money management skills. They recognized that financial education shouldn’t be confined to the classroom or a one-time conversation but should be woven into daily life. 

Thus, Till was born — a shared family app and debit card that transforms everyday financial interactions into teachable “money moments.”

Imagine discussing the cost of groceries during a shopping trip, budgeting for an upcoming vacation, or evaluating the price of new sports equipment. These common scenarios become opportunities for parents to impart valuable financial lessons to their children in a natural, engaging way. Till family banking aims to make these moments as impactful and approachable as possible.

One of Till’s core principles is inclusivity. The Till app and debit card are free, ensuring all families have access to essential financial literacy tools. Till’s unique distribution model supports this mission. By partnering with organizations that already have strong relationships with families — like schools, sports teams, and community groups — Till avoids the high costs of traditional marketing. This approach allows Till to meet families at pivotal life moments, such as a class trip, joining a travel sports team, buying a first car, or investing in a special occasion like a Bar/Bat Mitzvah.

What sets Till apart from other fintech solutions is its focus on community involvement. Till extends its reach beyond the nuclear family, engaging teachers, coaches, and other community members who play a role in a child’s financial education.

In 2023, Till saw significant growth in the student travel space, offering customized solutions for cashless travel experiences that teach kids and teens smart spending habits both domestically and internationally. Despite a challenging macro economy, Till has emerged as an industry leader in family banking, boasting a remarkable 374%+ year-over-year growth.

One of Till’s standout features is its instant payment capability. Parents can bypass the ATM and send money directly to their kids’ accounts with a few taps. Whether funds are needed during a school trip or for a weekly allowance, parents can quickly load their wallet using their own bank’s debit card and transfer money instantly. Kids can also request money from their parents when needed. Additionally, Till’s “gifting” feature allows relatives to send funds instantly without needing to download the app.

Instant payments provide peace of mind for parents, ensuring their children are never stranded without money. This feature adds convenience and security, replacing the need for cash handouts and minimizing the risk of lost or stolen funds.

A critical component of Till’s instant payment feature is its partnership with Astra, an all-in-one platform for instant payments. Prior to integrating with Astra, Till parents relied on ACH transfers for account funding, which often caused delays. With Astra, Till offers a swift, seamless, and stress-free funding option. This integration has led to an increase in deposits, customer spending, and overall satisfaction.

The partnership with Astra also enabled Till to generate revenue through user fees on instant transfers. Similar to models used by Venmo and Cash App, these fees cover processing costs and provide a margin for reinvestment in further innovations.

Till Financial is not just a product; it’s a movement towards smarter, more inclusive financial education for families. By focusing on real-life moments and community involvement, family banking with Till Financial is setting a new standard in family banking. As Till continues to grow and innovate, it remains dedicated to its mission of building smarter spenders, one money moment at a time.

To learn more about how you can unlock instant payments for your banking solution, visit Astra’s website or book a demo with our sales team.

Visit the Till website to learn more family banking with Till Financial and download the Till app.