- Lili Core costs $0 a month, with no minimum deposit and no overdraft fee
- Savings pays 2.25% APY up to $500,000, as of Lili’s January 13, 2026 disclosure
- Free withdrawals at 40,000+ MoneyPass ATMs
- A business account only. Lili is a financial technology company, not a bank
- Banking services by Sunrise Banks, N.A., Member FDIC
| Type | Business banking app. Lili is a financial technology company, not a bank. Banking services by Sunrise Banks, N.A., Member FDIC |
|---|---|
| Savings APY | 2.25% on balances up to $500,000, 4.00% on balances over $500,000 up to $1,000,000, as of January 13, 2026, variable |
| Monthly cost | $0 on Core. Paid plans run $15, $35 and $55 a month |
| Minimum to open | $0 |
| Overdraft | $0 overdraft fee |
| ATMs | Free at 40,000+ MoneyPass ATMs. $2.50 at other U.S. ATMs, plus any owner surcharge |
| Sign-up bonus | None shown on Lili’s pages |
| iPhone app rating | 4.6 out of 5 from 6,948 ratings on the App Store, read October 13, 2026 |
| Android app rating | 4.1 out of 5 from 11,058 ratings on Google Play, read October 13, 2026 |
Our take: Lili is a good fit for a freelancer or small business that wants free business checking with no overdraft fee. Skip it for savings, where the 4.00% headline only applies to balances over $500,000.
What Lili offers
A business checking account with a Visa debit card, a business savings account, invoicing and expense tools on paid plans, and business credit access through partners. The credit comes from those partners. Lili itself is not a lender.
Your money is held by Sunrise Banks, N.A. FDIC coverage reaches up to $3 million through a sweep network of partner banks, with the standard $250,000 limit applying at each bank.
To open one, you’ll need your business formation documents, your EIN and a government photo ID for an owner or someone with control. Sole proprietors and nonprofits are accepted. A residential address works, but a P.O. box generally doesn’t.
Plans
There are four plans:
- Core: $0 a month, with banking, savings and a debit card
- Pro: $15 a month ($9 for the first three months), adds expense and tax management
- Smart: $35 a month ($21 for three months), adds accounting software and invoicing
- Premium: $55 a month ($33 for three months), adds priority support and a metal debit card
Paid plans come with a 30-day free trial, and Lili calls them tax-deductible business expenses.
Does Core get you what you need? For plain checking, probably. Invoicing and accounting only come with Smart and up.
What it costs
On Core, these cost $0: standard ACH transfers, incoming domestic wires, foreign exchange fees on debit purchases and withdrawals at 40,000+ MoneyPass ATMs.
The charges are in the schedule. An outgoing domestic wire is $15. An outgoing international wire is $25, plus a 1% commission if it’s converted to another currency. Express ACH is 1.50% of the transfer, with a $0.50 minimum and a $20 cap. Mailing a check for you is $3.00. A non-MoneyPass ATM costs $2.50 in the U.S. and $5.00 abroad, plus whatever the machine’s owner adds.
Overdraft fee: $0.
Savings
Savings is available on every plan, and you need $0.01 to earn interest. The disclosure is dated January 13, 2026: 2.25% APY up to $500,000, 4.00% APY on balances over $500,000 up to $1,000,000, and nothing on any portion above $1,000,000.
On $20,000, 2.25% is about $450 a year. That’s it. The 4.00% headline isn’t for you unless you hold more than $500,000.
That disclosure is nine months old, so confirm the rate in the app before you move cash.
Pros and cons
Pros
- Core is $0 a month with no minimum deposit and no overdraft fee.
- Standard ACH, incoming domestic wires and foreign exchange on debit purchases cost $0.
- Free withdrawals at 40,000+ MoneyPass ATMs.
- FDIC coverage up to $3 million through a sweep network of partner banks.
- Live support seven days a week, and sole proprietors can apply.
Cons
- Savings pays 2.25% up to $500,000. The 4.00% headline only applies above $500,000.
- The savings disclosure is dated January 13, 2026.
- Invoicing and accounting need a paid plan, which runs $15, $35 or $55 a month.
- An outgoing domestic wire is $15, and a non-MoneyPass ATM is $2.50.
- It is not a bank, and it is built for business accounts only.
Who should open it
Open it if you run a small business and want a free account that pays nothing to open or keep, doesn’t charge overdraft fees and connects to tools like QuickBooks, Xero, Stripe and Shopify.
It’s less of a fit if you deposit cash. It’s an app-based account without branches. And if you want your idle business cash to earn a lot, look elsewhere or use Lili only for operating money.
How to open
Have your EIN and ID handy, then open a Lili business account. You can reach live support seven days a week at (855) 545-4380 or [email protected], and there’s 24/7 AI assistance for quick answers. The live team’s hours aren’t listed.
Lili vs. alternatives
- Novo: free business checking with no monthly fees and ATM fee reimbursements up to $7 a month. It doesn’t pay interest.
- Axos Bank: Basic Business Checking has no monthly maintenance fees and free incoming domestic and international wires.
Lili could make sense if you run a small business and want free checking with built-in invoicing options, and you do not need your cash to earn a high rate.
FAQ
No. Lili describes itself as a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC.
Yes. Lili supports LLCs, corporations, partnerships, sole proprietors and nonprofits. Its sign-up list asks for your EIN and a government photo ID.
Lili Core costs $0 a month. Pro is $15, Smart is $35 and Premium is $55, with discounted starting prices for the first three months.
2.25% APY on balances up to $500,000, as of Lili’s January 13, 2026 disclosure. The 4.00% rate applies to balances over $500,000 up to $1,000,000.
No. The overdraft fee is $0.
No. This is a business account, and you’ll apply with your business information.
Sources (8)
We use primary sources: each company’s own product pages and legal terms.
- Lili. Home page. lili.co. Accessed October 13, 2026.
- Lili. Plans. lili.co. Accessed October 13, 2026.
- Lili. Business Banking. lili.co. Accessed October 13, 2026.
- Lili. Sunrise Banks Account Agreement and Schedule of Fees. lili.co. Accessed October 13, 2026.
- Apple App Store. Lili: Business Banking. apps.apple.com. Accessed October 13, 2026.
- Google Play. Lili: Business Banking. play.google.com. Accessed October 13, 2026.
- Novo. Fee Schedule. novo.co. Accessed October 13, 2026.
- Axos Bank. Small Business Banking. axosbank.com. Accessed October 13, 2026.
Take the next step.
Find out if Lili’s free Core plan fits your business.
Rates, plans and availability change. Check the current terms on Lili’s site before you open an account. Lili is a financial technology company, not a bank.