Lili Business Account Review

Who is Lili best for?

Lili is best for small business owners who want some automated assistance in managing their emergency savings goals. The overall lack of account fees with Lili basic make it an easy account to open and maintain so you can focus on your business. It’s also a great fit for small business owners who might be interested in expanding their business account’s features down the line, thanks to the optional paid subscriptions. Lili also supports joint accounts, so if your business has multiple owners, all owners can get account access and each can get a debit card.

How much does Lili cost?

Lili has a free basic plan and three paid accounts starting at $9 a month. Here’s how they differ:

What we like about Lili

Lili’s biggest strength is how the account aims to make the life of small business owners easier. This starts by offering minimal fees: owners can open the account with $0 and won’t pay a monthly maintenance, overdraft, account inactivity, bill pay or stopped payment fee. Lili also supports early access to payments, which let you receive payments up to two days earlier than with a traditional bank account.

You can also deposit cash at any retailer in the Green Dot network, for a $4.95 fee=. You’ll also get unlimited, free incoming domestic wire transfers, and you can send and receive international wire transfers from 27 countries including Canada, the UK, Australia, the Netherlands and Germany. However, know that international wires must be made in USD.

And since Lili integrates with other accounting platforms like Quickbooks and Xero, which also have similar bookkeeping tools, you can select the Lili plan that makes the most sense for your business. Lili can also sync with various payroll software, including Gusto, OnPay and Paychex.

Set aside cash automatically

Lili’s most notable feature is its automated savings feature, which sets aside a percentage of your paycheck for emergency funds — and future taxes on the Lili Pro plan. Given the somewhat complex structure of business taxes, this can prove a nice relief for business owners as it provides peace of mind that taxes are accounted for while business owners focus on their work.

Extra perks with paid plans

Lili also offers optional paid subscriptions that start at $9 a month. These accounts come with a few additional accounting features, rewards on eligible Lili debit card purchases, advanced expense tracking, a built-in invoicing tool and more. There’s also an overdraft service called BalanceUp, which allows free overdrafts on up to $200 on purchases.

Paid plans also offer access to the savings account with a 3.00%APY on balances up to $1,000,000. And with Lili Smart or Lili Premium, you’ll get an Accountant AI that can offer personalized accounting insight based on your bank account and industry trends.

Where it falls short

A few drawbacks to the account include limited customer support as they’re only available on weekdays from 9 a.m. to 7 p.m. ET, and there are no live chat options. Lili is also an online banking option, so you won’t have access to in-person support.

Lili’s fees and access

Compare Lili to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Lili is right for you.

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5 of 12 results

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Finder Score	Fee	Annual Percentage Yield (APY)	FDIC Insured Amount	Software Integrations	Account management	Bank transfer fee	Rebate
Promoted Finder score 8.8 Great Airwallex	Finder score 8.8 Great	$0 per month	N/A	Up to $250,000	Amazon, Quickbooks, Zapier, Shopify, Xero, Hubspot and more	Online, App, Phone	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 8.4 Great Novo Business	Finder score 8.4 Great	$0 per month	N/A	Up to $250,000	Quickbooks, Stripe, Square, Xero, and more	Online, App, Phone	$0		Go to site More info Compare product selection Compare	loading
Promoted Finder score 9 Excellent Bluevine Business Checking	Finder score 9 Excellent	From $0 per month	3.70% on balances of $0 to $3,000,000 2.70% on balances of $0 to $250,000 1.50% on balances of $0 to $250,000	Up to $3 million	Cash App, Expensify, Quickbooks, Square, Stripe, Wave, Wise, Venmo, and Xero	Online, App, Phone	$0	You can earn $500 when you open a new Bluevine Business Checking account and meet eligibility requirements. Apply with referral code CA300. T&Cs apply.		Go to site More info Compare product selection Compare	loading
Finder score 8 Great North One Business Banking	Finder score 8 Great	From $0 per month	3.00% on balances of $0 to $250,000 2.50% on balances of $0 to $250,000	Up to $250,000	PayPal, Stripe, Square, Etsy, Airbnb, Amazon and more	Online, App, Phone	$0		Go to site More info Compare product selection Compare	loading
Finder score 9.4 Excellent Revolut Business	Finder score 9.4 Excellent	From $10 per month	N/A	Up to $250,000	Xero, FreeAgent, Zapier, Slack, Google Workspace, QuickBooks, HR programs and more	Online, App, Phone	$0		Go to site More info Compare product selection Compare	loading

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How we picked these

How we calculate Business Checking Finder Scores

Read full methodology

What different scores mean

9+

Excellent

These are the best business checking accounts that are likely to have the lowest fees, smallest opening deposits, unlimited transactions and low wire transfer fees.

7+

Great

These accounts may have low service fees, a number of free transactions and low wire transfer fees, but may not offer the most perks.

5+

Standard

These business accounts are likely to charge a monthly fee, may have transaction fees or costly wire transfer fees, but are still typical business accounts.

0+

Basic

These business checking accounts are likely to have costly service fees, may not accept cash deposits, have costly wire transfer fees and lack extra perks the best accounts offer.

Customer experience

Lili is generally appreciated by customers on social media for its user-friendly features and low fees. However, some older customer reviews have complained of unwarranted account closures.

Lili isn’t accredited with the Better Business Bureau and has just a few customer reviews. On Trustpilot, Lili earns a 4.7 out of 5 customer rating with several praising the user-friendly nature of Lili as well as the prompt customer service.

There are several ways to contact Lili:

• Call 855-545-4380 weekdays from 9 a.m. to 7 p.m. ET
• Email support@lili.co
• Facebook: @hellofromLili
• Instagram: @hellofromLili
• LinkedIn: linkedin.com/company/hellofromlili

Lili is not currently available on Finder

Have you considered SoFi Checking and Savings?

Earn up to 3.60% APY on savings by meeting deposit requirements or by paying the SoFi Plus subscription fee every 30 days, and 0.50% APY on checking balances. Members without deposit requirements will earn 0.50% APY on both savings and checking balances. Turn on automatic savings or use the Roundups feature to help you reach your savings goals faster. Get up to $3M of additional FDIC insurance through a network of participating banks.

• 0.50% APY on checking balance
• Up to 3.60% APY on savings
• $0 account or overdraft fees
• Earn $50 or $300 when you sign up and set up eligible direct deposit

Learn more

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