Legal

Disclaimer

Last updated 29 June 2026.

The important bit:

Lil Banks is an educational publisher and software developer. Lil Banks is not a bank, is not an Authorised Deposit-taking Institution, and does not provide financial product advice. The information is general educational content; for advice about specific financial products, consult a licensed financial adviser.

Why "Banks" is in the name

The Lil Banks program teaches a five-category split for a child's pocket money: Earn, Save, Spend, Give, Invest. Each category is one "bank" — implemented in your family as a jar, an envelope, a sticker chart, or a column in the Lil Banks app. None of them are bank accounts. None of them hold real money. They're a teaching device.

We applied to the Australian Prudential Regulation Authority (APRA) under section 66 of the Banking Act 1959 (Cth) for written confirmation that the use of "Banks" in our business name does not contravene the Act, on the basis that Lil Banks is a non-financial business. That confirmation was granted in June 2026.

What Lil Banks is not

Not a bank. No deposits, no loans, no payment processing.
Not a financial adviser. We don't recommend specific investments, insurance, or financial products.
Not a substitute for an accountant or financial planner. For specific tax, estate, or product decisions, see a licensed professional.
Not an Authorised Deposit-taking Institution (ADI).

What it is

A 12-lesson educational program and an installable simulation app. Both aim to help Australian parents teach their kids (ages 3–12) the habits behind sound money decisions. The content is general, not personalised to your specific financial circumstances.