Lili - Small Business Finances

Lili App Inc.

About this app

Lili is a business finance platform that enables small businesses to manage all aspects of their finances in one place. With business banking, smart bookkeeping, unlimited invoices & payments, and tax preparation tools–you’ll always know where your business stands.


BUSINESS BANKING

- Business Checking Account
- Lili Visa® Debit Card*
- Mobile Check Deposit
- Fee-free ATM withdrawals at 38K locations
- Cash Deposit at 90k participating retailers
- Get paid up to 2 days early
- No minimum balance or deposit required
- No hidden fees
- Automatic Savings
- Cashback Awards**
- Fee-free Overdraft up to $200**
- Savings Account with 4.15% APY****


ACCOUNTING SOFTWARE**

- Expense management tools and reports
- Income & expense insights***
- Attach receipts to expenses with a quick photo from your phone
- On-demand reporting including profit & loss and cash flow statements***


TAX PREPARATION**

- Automatic labeling of transactions into tax categories
- Write-off tracker
- Automated tax savings
- Pre-filled business tax forms (including Forms 1065, 1120, and Schedule C)***


INVOICING SOFTWARE***

- Create and send customized invoices
- Accept all payment methods
- Track unpaid invoices and send payment reminders


SUPPORT FOR YOUR BUSINESS

- Lili Academy: Videos and guides that cover all aspects of running a small business
- Free tools, downloadable resources, long-form guides and blog articles
- Discounts on relevant tools from our partners
- Curated newsletters and business-related content


ACCOUNT SECURITY YOU CAN RELY ON

All Lili accounts are insured up to $250,000 through our partner banks, Choice Financial Group, Member FDIC, or Sunrise Banks, N.A., Member FDIC. Lili business accounts and debit cards are protected by industry-leading encryption software and security protocols, including fraud monitoring and multi-factor authentication. Lili customers receive transaction alerts in real-time, can access their account from mobile or desktop anytime and instantly freeze their card if needed.


LEGAL DISCLOSURES

Lili is a financial technology company, not a bank. Banking services are provided by Choice Financial Group, Member FDIC, or Sunrise Banks N.A., Member FDIC

*The Lili Visa® Debit Card is issued by Choice Financial Group, Member FDIC, or Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Please see the back of your Card for its issuing bank. The Card may be used everywhere Visa debit cards are accepted.

**Available to Lili Pro, Lili Smart, and Lili Premium account holders only, applicable monthly account fee applies.

***Available to Lili Smart and Lili Premium account holders only, applicable monthly account fee applies.

****The Annual Percentage Yield (“APY”) for the Lili Savings Account is variable and may change at any time. The disclosed APY is effective as of September 1, 2023. Must have at least $0.01 in savings to earn interest. The APY applies to balances of up to and including $100,000. Any portions of a balance over $100,000 will not earn interest or have a yield. Available to Lili Pro, Lili Smart, and Lili Premium account holders only.

Ratings and reviews

Thr prices keep going up and up and they keep taking features away. You can't actually downgrade without reaching out to them even though it's advertised as all online. I'll be closing my account with them this week. I was not notified when the price went from $9 to $15 and even way before that when they moved me to pro from basic without my consent on a "trial" based technicality. That, and they removed almost all the features that attracted me to the basic plan in the first place.

UPDATE at end.First, big hassle to make transfers into account, the app has so much glitches. Then 1 year after been paying monthly I decided to downgrade and 2 months after, WITHOUT notice they didn't gave me access to my account and closed it, they say because I had 6 months of inactivity which was a LIE. I didn't had a lot of money on it but I had some. And they just kept it and close the account. Horrible experience don't use this bank. AFTER THIS REVIEW GOT AN EMAIL SAYING I'll GET a CHECK.

Holy Grail for sole proprietors! I'm an extremely unorganized person and was incredibly nervous about starting my own business because I know I struggle with keeping track of transactions and recipts. Lili makes it so easy! Everything from signing up tracking expenses has been perfect. I've barely needed to contact customer support but when I did they were quick to get back to me and extremely helpful. I recommend Lili to everyone who is looking to take control and start being their own boss. 💪

What's new

Big changes come with small improvements. 💪