Lili Review

Lili partnered with Dun & Bradstreet to launch BusinessBuild, a program that helps entrepreneurs build and monitor their business credit directly from their Lili account. The program includes a secured BusinessBuild Credit Card, credit monitoring with six key Dun & Bradstreet scores, and expert-led training with step-by-step guidance. BusinessBuild makes credit-building part of everyday financial activity, with real-time alerts and resources to help small businesses grow. Available as an add-on with a free trial, then $18–30/month.

Lili transactions are fee-free. There are no foreign exchange fees, no ATM fees charged by Lili at US-based ATMs, and no account fees. overdraft protection allows registered customers to overdraw up to $200 with debit card purchases and no overdraft fees.

Lili makes it easy for business owners to allocate savings for Rainy Day Funds. The auto-pilot savings option is easy to set up with a minimum of at least $1 daily to an emergency savings bucket. At the time of writing, Lili offered a 1.5% APY (subject to change)for the Lili Pro account only. The emergency savings buckets can be tracked from the app, with daily balances and monthly statements available. To get started with this banking feature, clients need to open an emergency bucket and designate a fixed allocation from savings.

Lili offers a unique business solution known as the Tax Optimizer. You can easily plan your tax payments as a consultant or freelancer with the Proprietary Tax Optimizer Tool. This takes care of many of the stresses of last-minute tax preparation. In addition, business owners can avoid IRS penalties by automatically setting aside an allocation for taxes (a percentage of income). Lili assists in determining the appropriate allocations.

Thanks to direct deposit, funds can be available in your Lili business account two days earlier. That means less time waiting for paychecks to be deposited or wire transfers to be made. This complimentary service is designed for all business users. Clients receive payment notifications through the app.

The Lili Visa® business debit card is available for free. You can use the debit card across the United States at some 38,000+ ATMs. Better yet, there are no fees charged by Lili when you use this Visa Business debit card. The card is available anywhere that Visa is accepted. Plus, you can also use the Lili Visa® business debit card internationally. ATM fees may apply with out-of-network transactions and at international ATMs.

All accounts held with Lili are FDIC insured through Choice Financial Group, the partner bank. That means all deposits are protected by the Federal Reserve Bank up to $250,000.

Lili’s QuickBooks integration gives customers the ability to sync bills, transactions, and payees between the two platforms. Users can also sync payments, balances and schedules to the QuickBooks database.

As a business owner, write-offs are inevitable from time to time. This service offers full expense management with real-time analytics. As a result, you can manage your financial activity in anticipation of tax time.

Customers can securely invite team members to manage their business finances with role-based permissions—whether it’s handling bookkeeping tasks or payment approvals without unnecessary back-and-forth. Assign administrator access to trusted employees for control over banking and accounting activities, or give your accountant access to view reports and monitor finances with confidence.

Business owners can accelerate money transfers to support business operations. Accelerate transfers from merchant accounts and ecommerce platforms. Send and receive funds via Express ACH, wires, and expedited same-day checks.

Lili Premium customers receive top-tier support every day of the week. Whether you prefer phone or email, our live support team is available 7 days a week to assist you. You’ll also get priority service, meaning your call jumps to the front of the line for faster answers. Plus, you’ll be matched with a dedicated account specialist who understands your business and can help you get the most out of your account. They also have an advanced AI chat bot for on-spot responses.