What is Lili?
Lili is a financial platform with a variety of convenient, cost-effective features and functions for small to mid-sized businesses. This mobile-ready banking solution facilitates seamless payments, funds transfers, deposits and withdrawals. Plus, Lili is available in Free and Pro account versions. Registered customers can enjoy analytics and reporting tools for all aspects of financial activity. Various integrations with accounting tools and software programs for enhanced account management are provided via the Lili App Center. Unique benefits include a Lili Visa® business debit card and checking accounts exclusively for single-member corporations and sole proprietors.
Key Details
| Founded | Headquarters | Users | Regulation | Rating |
|---|---|---|---|---|
| 2018 | New York City, USA | 200,000+ | FDIC (via Sunrise Banks, N.A., Member FDIC) |  |
Pros & Cons
- No account fees, overdraft fees, or minimum balance requirements
- Earn 3.00% APY on balances up to $1 million
- Send and receive international wire transfers
- Grant access for your team and accountant
- Built-in tools for accounting and tax preparation
- Live customer support 7 days a week
- No credit cards
- No personal loans
- Charges fees for out of network ATMs & international ATM withdrawals.
Lili Banking Features
Lili is a financial platform, with all the high-tech, low-cost features, functions, and attributes of mobile-optimized banking. Business clients can access many innovative features for near-zero costs, rapid transaction processing, and detailed account management. Lili is a masterclass. This business-orientated solution provides clients with a complimentary, standard account and a professional account with advanced features.
Lili keeps business banking simple. The professional services this banking solution provides are limited to the continental US at this time. With an estimated 60 million+ businesses now active in the United States, Lili offers cost-effective, full-fledged banking options for this dynamic market.
Small to mid-sized businesses can enjoy the following business banking features:
Plus, in an era of low-interest rates, they offer eligible customers 3.00% APY on balances up to $1,000,000.
Building a Business Credit Profile
Lili understood that for many entrepreneurs, building business credit remains a confusing and inaccessible process. 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.
Team Access
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 Savings
Maximize your savings with a high-yield savings account that enables you to automate a set daily amount to transfer from your business checking account. Earn 3.00% APY on savings account balances up to and including $1,000,000.
Smart Tax Management
Automatically set aside a chosen percentage of each payment into a dedicated Tax Bucket sub-account, ensuring business owners are always prepared when it’s time to pay taxes. Transactions are instantly categorized, reconciled, and reflected in your reports, keeping books accurate and tax-ready with minimal effort. Based on these categorized transactions, Lili auto-generates pre-filled IRS tax forms—including Schedule C, Form 1065, and Form 1120-S—streamlining the filing process and reducing manual work.
Automated Expense & Deduction Tracking
By automating both saving and organization, Lili simplifies tax season from start to finish. You’ll receive categorized deductions, expense summaries, and completed forms right when tax time begins. Easily download detailed expense reports on a quarterly or yearly basis directly from your dashboard, and stay fully prepared for bookkeeping or tax submission.
FDIC Insured up to $250K
All accounts held with Lili are FDIC insured through Sunrise Banks, N.A., Member FDIC, the partner bank. That means all deposits are protected by the Federal Reserve Bank up to $250,000.
Invoicing Software
Lili’s professional invoicing software lets you create fully customizable invoices, track them in real-time, and send automatic payment reminders, so late payments become a thing of the past. Support for multiple payment methods like Cards, ACH, PayPal, and checks ensures your clients can pay how they prefer.
Auto-categorization
By automating both saving and organization, Lili aims to simplify tax time—delivering categorized deductions, expense summaries, and completed forms right when tax season begins.
International wires
Lili’s international payments solution enables customers to send and receive payments in over 32 countries across North America, Europe, and Asia in over 130 global currencies. With unlimited inbound transfers, high outbound transaction limits, enhanced security, and competitive pricing, this new solution supports global business growth. Customers can send or receive funds via wire in as little as 24 hours.
Fast Payments
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.
Plans & Pricing
Lili offers four plans: the Lili Basic, Lili Smart, Lili Premium, and Lili Pro Plans. Certain benefits are exclusively provided to Lili Pro, Lili Smart, and Lili Premium Plan holders, but all plans qualify for fee-free benefits. The pricing and benefits structure is comprised as follows:
Lili Basic Account – FREE
- No minimum balance & No hidden fees
- Access to 38,000+ ATMs across the USA
- Clients can automatically allocate funds for tax purposes
- Expense tracking functionality is already built into the free account
- Direct Deposit options with payments up to 2 days faster
- Complimentary Lili Visa Business Debit Card
Lili Smart Account – $9/month
- Price: $9/month
- Unlimited invoices
- 3.00% APY on savings in Lili account
- Overdraft protection services with up to $200 fee-free overdraft
- Direct Deposit options for getting paid faster in up to two days
Lili Premium Account – $15/month
- Price: $15/month
- Unlimited invoices
- 3.00% APY on savings in Lili account
- Overdraft protection services with up to $200 fee-free overdraft
- Direct Deposit options for getting paid faster in up to two days
- Priority customer support
Lili Pro Account – $15/month
- Price: $15/month
- Unlimited invoices
- 3.00% APY on savings in Lili account
- Overdraft protection services with up to $200 fee-free overdraft
- Direct Deposit options for getting paid faster in up to two days
- Priority customer support
- Additional premium features for businesses
Note: Lili.co offers Business Accounts and Pro Accounts.
FAQ
Who qualifies to open a Lili business bank account?
LLCs, corporations, and partnerships can open accounts at Lili. These account options are only available to legal-age (18+) clients in the continental US. You must have a social security number, a telephone number and an address in the US. Citizenship is not a requirement.
What types of documentation are required to open an account?
As part of the Patriot Act, clients must provide biographic information, including name, DOB (date of birth), ID documents, driver’s license, passport, EIN, state of incorporation, and business incorporation documentation.
What is the process for opening a Lili business bank account?
Lili makes it easy to register and apply for a business bank account. There are two options, a free account, and a premium account. Complete the online registration, comply with business requirements, upload the requisite documentation and verify the account. LLCs, corporations, and partnerships can apply for a business bank account.
How can I access my account at Lili?
Clients can access accounts via the Lili site on desktop or through the mobile app on Android or iOS.
Are my funds protected?
Yes. Lili accounts are all FDIC insured up to $250K. In addition, Lili has partnered with Sunrise Banks, N.A., Member FDIC.
Does Lili accept non-US residents for business accounts?
Lili also accepts non-US residents from 32 countries—including those from Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Denmark, Finland, France, Germany, Greece, India, Ireland, Israel, Italy, Mexico, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, the United Kingdom, and Uruguay. These customers don’t need a US phone number, SSN, or physical US address, though their requirements differ from US-based applicants.
Our Verdict
Lili is a business banking platform built to support the financial ambitions of today’s entrepreneurs and small business owners. Designed for U.S.-based businesses—including those owned by global entrepreneurs—Lili offers seamless onboarding, no hidden fees, and advanced financial tools built to scale with your business.
Beyond core banking, Lili integrates smart features like 3.00% APY savings, secure team access, and web and mobile platforms to help you manage every aspect of your finances—whether you’re a solo founder or managing multiple ventures. With the optional BusinessBuild Program, entrepreneurs can strengthen their business credit profile through real-time credit monitoring powered by Dun & Bradstreet, along with access to a secured credit card that supports credit growth through everyday spending.
International payments are also available, enabling businesses to send and receive global wire transfers in over 130 currencies—safely, quickly, and with transparent flat-rate pricing.
With a strong reputation, 24/7 live support, and no minimum balance required, Lili stands out as a modern, trusted platform that goes beyond basic banking—giving business owners the control, clarity, and confidence to grow.