Banking · Self-Employed & Solo Banking
Lili Review
Online business banking with tax set-aside and bookkeeping on paid plans, plus retail cash deposits
Reputation warning
Lili's BBB profile lists 150 complaints closed in the last three years. Its account agreement says Lili may close an account for any reason, with or without notice, so keep a backup account.
Quick verdict
Lili is best for Solo and small trades businesses (sole proprietors and LLCs) that want banking with automatic tax set-aside and invoicing in one app and deposit only occasional cash. Cash deposits capped at $1,000 per 24 hours with retailer fees up to $4.95; tax set-aside, invoicing and bookkeeping need a $15-$55/mo plan; $15/$25 outgoing wire fees; no branches; account agreement allows closure for any reason.
Fees & APY
Lili Core $0/mo with no minimum balance. Lili Pro $15/mo ($9/mo for the first 3 months) adds automatic tax-savings allocation, expense tax categories and expense reports. Lili Smart $35/mo ($21/mo for 3 months) adds unlimited invoicing, bill pay, AI bookkeeping and P&L and cash-flow reports. Lili Premium $55/mo ($33/mo for 3 months) adds a metal debit card and a dedicated specialist. Outgoing wires $15 domestic, $25 international. Savings APY is variable: 2.25% on balances up to $500,000 and 4.00% on balances over $500,000 up to $1,000,000; no interest above $1M. FDIC coverage up to $3M through Sunrise Banks, N.A. and its sweep network banks. BusinessBuild credit-building add-on $18/mo for 3 months, then $30/mo.
- Monthly fee
- $0 (Core); Pro $15/mo, Smart $35/mo, Premium $55/mo
- APY / yield
- 2.25% APY (variable) on savings balances up to $500,000; 4.00% on balances over $500,000 up to $1,000,000; no interest above $1M
Affiliate disclosure: The link to Lili on this page goes to its own site and is not an affiliate link.
About Lili
Lili is an online business banking platform for small business owners, based in New York; banking services are provided by Sunrise Banks, N.A., Member FDIC. Lili says it serves more than 200,000 businesses and supports sole proprietors, single- and multi-member LLCs, partnerships and corporations. The free Core plan includes business checking with a Visa debit card, ACH, check and wire payments, fee-free withdrawals at MoneyPass ATMs, a high-yield savings account and up to $3M in FDIC coverage through a sweep network.
The tax and bookkeeping tools are what set Lili apart for a one-person trade, but they are on paid plans. Pro ($15/mo) lets you preset a percentage of each payment to move into a tax bucket automatically and sorts expenses into tax categories with quarterly and yearly reports. Smart ($35/mo) adds unlimited invoicing with card acceptance, bill pay, AI transaction categorization, P&L and cash-flow reports, and pre-filled tax forms such as Schedule C. Premium ($55/mo) adds a metal card and a dedicated specialist.
Lili takes cash: you can deposit at participating retailers through Green Dot. Lili's homepage lists a limit of $1,000 per cardholder per 24 hours and a retailer fee of up to $4.95, and some locations set lower limits. Lili says it offers live support seven days a week and, since January 2026, markets team access to multi-employee businesses, saying it suits teams of up to 10.
The trade-off: the Core plan has no monthly fee, but the tax and invoicing tools cost $15-$55 a month, cash deposits are small and carry a retailer fee, there are no branches, and Lili's account agreement lets it close an account for any reason.
How it works
Apply online with no minimum balance; banking is provided by Sunrise Banks, N.A. Money comes in by ACH, wire, mobile check deposit or cash at participating retailers through Green Dot (up to $1,000 per 24 hours, retailer fee up to $4.95). On Pro and higher plans you preset a percentage of each payment to move into a tax bucket automatically; Smart and Premium add invoicing, bill pay, bookkeeping and pre-filled tax forms. Withdraw cash fee-free at MoneyPass ATMs and connect tools such as QuickBooks, Xero, Gusto, Stripe, Square and Shopify.
Pros & cons
What works
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Automatic tax set-aside
From the Pro plan ($15/mo) up, Lili moves a percentage you choose from each payment into a tax bucket, so quarterly taxes are already set aside.
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Accepts cash deposits
You can deposit cash at participating retailers through Green Dot.
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Free Core tier, no minimum
Core is $0/mo with no minimum balance and includes checking, a debit card, savings and fee-free MoneyPass ATM withdrawals.
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High-yield savings, $3M FDIC
Savings pays a variable 2.25% APY up to $500,000 (4.00% only on balances above that, up to $1M), with up to $3M FDIC coverage via sweep.
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Invoicing and bookkeeping in one app
Smart ($35/mo) adds unlimited invoicing, bill pay, P&L and cash-flow reports and pre-filled tax forms such as Schedule C.
What doesn't
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Small cash limits plus a fee
Retail cash deposits are capped at $1,000 per 24 hours (lower at some locations) and retailers may charge up to $4.95 each time, so it does not suit cash-heavy shops.
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Tax and accounting tools cost extra
Core has no tax set-aside, invoicing or bookkeeping; those start at $15/mo (Pro) and $35/mo (Smart).
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Wire fees
Outgoing wires cost $15 domestic and $25 international.
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No branches
Lili is app- and web-based, with no branch to visit when something goes wrong.
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Closure terms
Lili's account agreement says it may close an account for any reason, with or without notice.
Features & integrations
Key features
Integrations
Frequently asked
How does Lili help with taxes?
On the Pro plan ($15/mo) and higher, you preset a percentage of each payment and Lili moves it into a tax bucket automatically; Pro also sorts expenses into tax categories and produces quarterly and yearly expense reports. Smart and Premium add pre-filled tax forms such as Schedule C. The free Core plan does not include these tax tools.
Can I deposit cash into Lili?
Yes. Lili accepts cash deposits at participating retailers through Green Dot. Its homepage lists a limit of up to $1,000 per cardholder per 24 hours, lower at some locations, and retailer fees of up to $4.95. That works for occasional cash, not for a cash-heavy operation.
Is Lili free?
The Core plan is $0/mo with no minimum balance and includes checking, a debit card and savings. Pro ($15/mo), Smart ($35/mo) and Premium ($55/mo) are discounted to $9, $21 and $33 for the first 3 months and add tax set-aside, invoicing, bill pay and bookkeeping. Outgoing wires cost $15 domestic and $25 international.
Does Lili work for a business with employees?
Lili says it supports sole proprietors, LLCs, partnerships and corporations, offers access for team members and accountants, and suits teams of up to 10. It does not run payroll itself but connects with Gusto. A larger crew that needs branches or large cash deposits should look at a traditional bank.
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