Lili
Business banking for freelancers with automatic tax savings and expense categorization
How it works
Lili is a fintech business banking platform (banking via Sunrise Banks, Member FDIC) built for freelancers, solopreneurs, and small businesses. Its standout feature is a 'Tax Bucket' that automatically sweeps a user-set percentage of each deposit into a dedicated tax reserve, helping avoid year-end tax surprises. The free Basic plan includes a business checking account with a Visa debit card and no minimum balance. Paid plans add high-yield savings (3-4% APY), smart expense categorization, invoicing, accounting integrations (QuickBooks, Xero, Stripe), and multi-business support. Lili raised its FDIC insurance to $3 million through a sweep network in November 2025 and pivoted in January 2026 to also serve multi-employee small businesses.
Is it right for you?
Consider if you
- Freelancers who want automatic tax savings sweeping (percentage of income set aside)
- Solo business owners wanting interest on operating cash (up to 4% APY on paid plans)
- Multi-business owners who need to manage up to 4 businesses under one login
Skip if you
- Those needing Zelle integration, physical checkbooks, or high cash deposit limits
- Businesses needing lending, credit cards, or payroll services (not offered)
- Anyone prioritizing responsive customer support (BBB F rating, high complaint volume)
Your money and data
Lili accounts are FDIC-insured up to $3 million through Sunrise Banks, N.A. (Member FDIC) and a sweep network of program banks as of 2026. The platform uses bank-grade encryption and secure servers for all data. Debit cards are issued by Sunrise Banks. External financial account connections use read-only access. Lili offers two-factor authentication and real-time transaction alerts. However, the Better Business Bureau gives Lili an F rating due to high complaint volume and slow response times.
Pros & Cons
Pros
- Free business checking with automatic tax savings bucket that sweeps income for quarterly taxes
- Competitive high-yield savings APY (3-4%) on paid plans with FDIC insurance up to $3M
- No foreign transaction fees, early direct deposit up to 2 days, and multi-business support (up to 4)
Cons
- Best features (invoicing, full accounting, tax prep) locked behind Smart plan ($35/mo) or higher
- No Zelle integration, no physical checkbooks, and cash deposits incur $3-5 retail partner fees
- BBB F rating due to high volume of unresolved customer complaints about support and account issues
Pricing details
Basic: $0/mo (business checking, Visa debit card, no minimums, fee-free ATMs at 38K MoneyPass locations, early direct deposit). Pro: $15/mo or $144/yr (adds 3-4% APY on savings, $200 overdraft protection, expense management, tax bucket, multi-business up to 4). Smart: $35/mo or $336/yr (adds invoicing, payment processing, accounting integrations, multi-teammate access, enhanced reports). Premium: $55/mo or $528/yr (adds metal card, priority 7-day support, dedicated account manager). Promotional discounts: ~40% off first 3 months for new users.
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