Lili Review 2025: Your Freelance Finances Got a Lot Smarter

Freelancers, side hustlers, and small business owners typically consider financial management their most unpleasant responsibility. Taxes? Invoicing? ugh. Budgeting, tracking expenses, saving for taxes… yeah, no thanks.

Lili serves as a banking application that simplifies your financial management. The FinTech startup, which started as a tool for gig workers in 2025, has evolved into a complete financial toolset for contemporary businesses. Lili combines the utility of a budgeting spreadsheet, the insights of a CPA, and the functionality of a modern business checking account, all in one intuitive interface.

The following analysis examines Lili’s current features to determine if they serve as the financial assistance you never recognized as essential.

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Overview of Lili and Its Evolution to 2025

Lili operates as a financial technology company that provides an integrated banking application for freelancers and small business owners. The company launched its operations between 2018 and 2020 to address the distinctive requirements of independent workers. Lili began its operations by serving freelancers and gig workers through a feeless business checking account, which included features for expense tracking and tax savings. 

The company has grown its services together with its customer base during the last few years. Lili now supports all major business entity types, including sole proprietors, LLCs, partnerships, and S-corporations, besides its original focus on solo freelancers. (The platform doesn’t support nonprofit organizations, B-corps, C-corps, or businesses involved in crypto trading or gambling, or cannabis.)

What Exactly Is Lili?

Lili functions as a business banking application that provides services to independent professionals and small business owners. The digital banking platform operates without physical locations while Sunrise Banks N.A. maintains FDIC-insured control over your funds.

Lili started as a tool for freelancers but now supports various business entities, including LLCs and partnerships, and S-Corps. The application maintains its user-friendly interface while offering numerous new features beyond its original scope. The platform combines fundamental banking capabilities with contemporary features that simplify financial administration tasks.

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What Lili Brings to the Table in 2025 – Core Features

Lili differentiates itself by combining banking services with built-in accounting, tax prep, and other financial tools. Here’s a breakdown of what Lili offers as of 2025:

Business Banking Features

At its core, Lili provides a business checking account with a Visa debit card, without the usual fees and hurdles of traditional banks. Even the free Lili Basic account comes with: 

• The service requires no monthly costs and no requirement for maintaining a specific account balance.
• This makes Lili very accessible to new businesses or side-hustlers watching every dollar.

No Hidden Fees on Everyday Banking

Lili doesn’t charge any additional fees for common banking services, such as ACH transfers, returned items, and stop payments that other banks might charge extra for. The Lili debit card allows international transactions without any additional foreign transaction fees, so cardholders can use it abroad without extra currency conversion charges, a perk if they travel or have international expenses.

Free ATM Access

Lili users have free access to withdraw cash at over 38,000 MoneyPass ATMs located throughout the United States. The vast network provides easy access to cash for all users. Out-of-network ATM transactions will cost you $2.50 within the United States or $5 internationally, but you should always use MoneyPass ATMs whenever possible.)

Early Direct Deposit

Lili’s expedited ACH feature lets you receive incoming payments (like client ACH transfers or direct deposits) up to two days earlier than a traditional bank would process them. The prompt access to money enables small business owners to manage their cash flow more effectively.

Mobile Check Deposit

Check deposits can be made using the Lili mobile app through smartphone image capture. New sole proprietor accounts need to meet two requirements to activate mobile check deposits: first, they must complete their initial 30 days with ACH deposits reaching $200, and second, they must wait until their ACH deposits total $200. The platform sets specific rules for users, including a monthly check limit of $15, daily limits of $5,0,00 and monthly limits of $50,000 for deposits.

The maximum deposit amount in online banking is typical, but business operations that handle numerous checks should consider this restriction. The “mail a check” service of Lili allows users to request checks for a fee of $3, although they don’t provide paper checkbooks for writing checks.

Cash Deposit Via Green Dot

Lili users can access cash deposit services at Green Dot retail locations, including Walmart, CVS, and 7-Eleven stores. Users can give their money to the store cashier to deposit it into their Lili account. The Green Dot cash deposit service charges a $4.95 fee per transaction, and customers can only deposit up to $1,500 cash per day, along with $5,000 per month. 

Business operations that handle cash frequently will find this process difficult to manage, while the occasional user of this service will still have access to it. Online banks work with Green Dot and similar networks because they don’t maintain their own branches.

Overdraft Protection (BalanceUp)

Lili doesn’t charge overdraft fees. With the BalanceUp program and paid account enrollment, Lili offers users free debit card overdraft coverage up to $200 as a form of short-term credit. You need direct deposits exceeding $500 per month to qualify for this benefit, while negative balances must be paid off within thirty days. This system functions as a security measure to protect business owners from financial surprises until their deposits become available.

Integrated Accounting and Tax Tools

What sets Lili apart from a plain checking account is the built-in financial management tools. Instead of using separate apps for bookkeeping, invoicing, and tax planning, Lili includes many of these features natively (especially in the paid plans):

Expense Categorization & Bookkeeping

Lili automatically categorizes your transactions into expense categories for bookkeeping, using a “Smart Bookkeeping” AI-powered engine. For example, a charge at Staples might be auto-tagged as “Office Supplies.” This saves you from manually sorting expenses later. The AI learns and provides predictive transaction categorization, which has improved over time. 

You can also manually re-classify expenses and attach receipt photos to each transaction in the app for thorough record-keeping. All of this means less time with spreadsheets. Lili helps keep your books organized in real time.

Tax Preparation Tools 

Lili helps users set aside money for taxes and even automates parts of tax filing prep. It offers a Tax Bucket feature where you designate a percentage of each incoming payment to be siphoned into your tax savings bucket. This is a lifesaver for freelancers who pay quarterly estimated taxes. You’re essentially “withholding” your own taxes year-round, so you’re not caught short by the IRS later. Lili can also automatically label transactions as tax-deductible. 

For paid plan users, Lili goes further. It generates expense reports and pre-filled tax forms like a Schedule C (for sole proprietors) or even partnership/corporate tax forms like 1065 or 1120-S. This means at tax time, you can download a report of all your business income and expenses, or a draft Schedule C, to hand to your CPA or plug into tax software, potentially saving you hours of consolidating data. 

Note: The auto-generated tax forms are offered at the higher-tier plans, so Basic users won’t get a ready-made Schedule C, but they can still export categorized transactions and expense reports.

Invoicing Software

For many freelancers and small businesses, invoicing clients is a critical task. Lili’s app includes an invoicing tool (available with paid plans) that lets you create and send professional invoices right from Lili. You can customize invoice templates, add your logo, and list line items. Clients can pay these invoices via various methods, and Lili will track which invoices are paid or overdue. You can also send reminders to clients on overdue invoices, all within the app. 

This removes the need for a separate invoicing service (or awkwardly creating PDF invoices manually). It’s a seamless way to go from doing the work to getting paid, with everything feeding back into your Lili account records. (Competitors like Novo also allow free invoice creation, but Lili’s advantage is tying it directly with expense categorization and tax savings when the payment arrives.)

Bill Pay & Vendor Payments 

Lili Smart and Premium plans include a bill payment feature as part of the accounting tools. You can effectively treat Lili as your accounts payable hub; the app can auto-scan a vendor’s bill and allow you to pay it electronically or mail a check. This helps you manage outgoing payments (rent, contractors, suppliers, etc.) in a controlled way, maintaining a clear picture of cash flow. Basic Lili accounts don’t include a bill-pay service (you’d have to handle bills through ACH or the vendor’s own payment portal), so this is one of the premium perks.

Financial Reporting 

With Lili’s higher-tier subscriptions, you gain access to on-demand reports like profit-and-loss statements, cash flow statements, and expense summaries. You can generate a P&L for the year or quarter to see your revenues, expenses, and profit, or review a cash flow report to understand how money is moving in and out. This is incredibly useful for making business decisions and also for things like applying for loans, where you need financial statements. Even on the free plan, you do get basic spending analysis and can export your transactions, but the “enhanced reporting” with formatted statements is a paid feature.

External Account Syncing

The advanced feature of external account syncing on Lili is available to Pro/Smart/Premium users who can connect external bank accounts and credit cards to the Lili app. Through Lili’s dashboard, Pro/Smart/Premium users can connect their business credit cards and secondary bank accounts to view their combined business financials in a single location. The system allows users to view all financial transactions together, even though it doesn’t enable money transfers between accounts, which simplifies bookkeeping operations.

Educational resources (Lili Academy)

The Lili Academy delivers educational content for small business owners as an additional feature beyond transactional capabilities. Lili Academy provides videos and guides, along with calculators and blog articles about topics, including taxes and accounting basics, and cash flow management. 

Users can access these free resources to develop their financial literacy skills. The educational resources at Lili function as a separate platform, but they support the company’s goal to provide a single platform for managing business finances.

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Lili’s 2025 Pricing Plans 

Lili provides business account services at four different levels, which align with various company requirements as of 2025. The basic checking account with debit card comes standard across all tiers, but higher tiers enable users to access additional advanced tools. The following details show the available Lili plans with their respective features:

Lili Basic (Free)

The Lili Basic account provides no monthly fees for its users. Basic users get a free business checking account along with a free Lili Visa debit card, MoneyPass ATM network access, and early ACH payment reception capabilities through the app. Users with the app’s basic expense categorization system can label transactions as business or personal while accessing basic spending analytics. 

The Basic plan lacks premium features that include automatic tax savings and in-app invoicing, advanced reporting, overdraft protection, and cashback rewards. The Basic plan functions as a cost-free business checking account that provides bookkeeping tools for new users who want to explore Lili’s fundamental features at no cost. This plan offers completely free services with no monthly charges or transaction fees, which differentiates it from typical bank entry accounts.

Lili Pro ($9 Per Month)

Lili Pro is the first paid tier, and it offers a substantial upgrade for a modest fee (historically $15/mo, but currently about $9/mo with promotional pricing), which is a strong advantage over many traditional banks’ entry accounts.

Lili Pro operates as the first paid subscription level that costs $9 per month while providing substantial upgrades. The historical price was $15 per month, but the current promotion brings it down to $9 per month. The Pro subscription adds three key benefits to the Basic features, including fee-free overdraft up to $200 through BalanceUp, access to a 3.00% APY savings account for your money through your savings bucket, and cashback rewards on the debit card through Visa SavingsEdge. 

The tax and expense features that Basic users don’t have become accessible to Pro subscribers through their subscriptions. The software allows users to separate expenses into IRS tax categories while producing expense reports for quarterly taxes and annual summaries and providing Automatic Tax Savings functionality. 

Lili Pro provides users with basic bookkeeping capabilities, along with tax preparation features to track deductions, save for taxes, and protect against overdrafts and interest loss. The Lili Pro plan provides all Basic features along with tax optimization tools and safety features but lacks the full invoicing and bill-pay functionality and multi-user capabilities, and advanced accounting reports. 

The Pro subscription provides Lili Basic features with additional tax optimization capabilities and safety measures. The service provides excellent value for freelancers who need those features but prefer to manage their invoices through alternative methods.

Lili Smart ($21 Per Month)

Lili Smart is the mid-tier plan (formerly around $35/mo, now often ~$21 with discounts). Lili has designated this tier as “Recommended” because it provides users with access to nearly all available features. Smart subscribers receive all Pro features, along with overdraft protection and interest rates and cashback rewards and tax management tools, and complete accounting and invoicing solutions. 

Smart subscribers can produce unlimited invoices through the bill pay system and obtain advanced bookkeeping tools that include AI-based instant categorization and financial reports, including profit & loss statements and cash flow statements. 

Account access can be granted to several team members through Smart, making it possible to provide login permissions to your business partner or accountant. The Smart subscription transforms Lili into a complete financial platform that merges banking services with accounting capabilities. 

The combination of tools in Smart makes it an attractive choice for solo business owners who want to unify their tools under one platform. The pricing model offers a better value than buying separate bookkeeping software and invoicing software while providing a step up from the Pro tier.

Lili Premium ($33 per month)

This is the top-tier plan (advertised at $55/mo normally, but about $33/mo with current promotions). Lili Premium includes everything that Smart does, with a couple of exclusive perks on top. The main differentiator is Premier Priority Service – Premium users get front-of-the-line customer support, including a dedicated specialist available 7 days a week. 

Essentially, if you heavily value support and don’t want to wait on emails, Lili Premium ensures you have fast help. Premium also comes with a metal Lili Visa Business Debit Card (whereas other tiers have a standard plastic card). 

The metal card might be a small vanity perk, but it comes with the same cashback program as Pro/Smart. All the banking features (early pay, wires, $200 overdraft, 3% APY, team access) and all accounting/tax features (invoicing, bookkeeping, tax prep) are included at this level. Premium is likely targeted at serious small-business owners or LLCs that have a bit more volume or need more support, for example, a business with a few employees and more complex finances, or someone who simply prefers VIP service.

One great thing is that all plans have a 30-day free trial, so you can test a Pro, Smart, or Premium account for a month and see if the features justify the cost. Also, Lili has been running promotions (like 40% off the subscription for 3 months) for new users, making it easier to try the higher tiers at a discount. There’s no contract or minimum; you can downgrade to the free Basic plan anytime if you decide a paid plan isn’t worth it. This flexibility means you aren’t locked into monthly fees if your business needs change. 

A key point to highlight: even on the free plan, Lili’s basic banking is solid (no fees, etc.). The paid tiers are essentially bundling additional software value. For many freelancers, paying $9 or $21 a month for built-in bookkeeping, tax, and invoicing tools can be very cost-effective compared to purchasing separate accounting software (which often costs $15–$40+ per month itself). Lili is trying to be your one-stop financial solution, and its pricing undercuts the combined cost of using multiple services. 

One downside is that interest (APY) on savings is only for paid accounts, as noted earlier. If you stay on free Basic, any money in your Lili savings bucket won’t earn interest. Features like overdraft protection and cashback also require at least the Pro tier. 

It means the free account, while useful, might feel a bit “lite” if you were used to those perks elsewhere. That said, the free account is still quite powerful for $0, especially compared to traditional banks that often charge $10–15/month for business accounts that don’t include any of these extra tools.

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Where Lili Stands Out Among Modern Digital Banks

FDIC-Insured and Secure

The FinTech app Lili ensures the same financial security for your money that traditional banking institutions provide. The app offers FDIC insurance through Sunrise Banks for all deposits up to $250,000. Security measures for the app and card include encryption, fraud monitoring, transaction alerts and instant card freezing, and multi-factor authentication during login. 

The security standards of Lili match those of any standard bank’s online banking system. The platform offers complete peace of mind regarding financial security and protects your information from any risks. This addresses the common worry, “Is this app legit?”. The financial platform of Lili operates with total legitimacy because it relies on a genuine banking institution. 

Responsive to Freelancer Needs

The developers of Lili built their platform specifically for independent workers. The application shows its understanding of freelancing challenges through its features that allow users to label transactions with personal or business tags and support both 1099 income and business expense management. 

Users who are new to business finances receive additional help from Lili through their educational content, which includes tax-related articles. The platform extends beyond banking services by providing financial guidance specifically designed for self-employed individuals.

High-Yield Savings Option

The 3% APY savings for Pro/Smart/Premium users are very competitive. The application encourages users to save money for taxes and emergency funds while providing rewards for their savings efforts. Your buffer cash will earn a beneficial 3% interest rate when you deposit it into a high-yield savings account since big banks only provide zero interest. Your business account functions as a minimal investment tool that matches the performance of high-yield online savings accounts for your short-term funds.

Cashback Rewards

Users who subscribe to pay plans receive cashback benefits from participating merchants through the Visa SavingsEdge program when using their Lili Visa debit card. The program delivers extra value to users. Despite being non-essential. 

Users who make business purchases at participating vendors receive a small percentage of cashback when using the Lili card. Most debit cards don’t provide rewards, so this benefit stands out, although it only works with specific merchants and doesn’t offer blanket cashback for all purchases like credit cards do.

Fast Access to Funds

The early payment feature of getting funds up to 2 days ahead of schedule allows businesses to better manage their cash flow. Payment delays become less stressful when you receive funds on Wednesday instead of waiting until Friday. Lili provides fast payment processing, together with immediate alerts, so users can track their financial activities at all times.

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Where Lili Could Improve

All solutions work differently for different people. Your business will experience specific drawbacks when using Lili, depending on your operations. The following points are important to remember:

Businesses using large amounts of cash or checks should look for alternative banking solutions since Lili may not serve them well. The Green Dot deposit system at Lili imposes daily and monthly limits of $1,500 and $5,000 while charging $4.95 per deposit transaction. New users face time limitations when using the mobile check deposit system, along with deposit volume restrictions. 

The platform’s absence of a physical checkbook, combined with its limited branch network, restricts businesses that require these services. Lili operates as a digital finance platform; thus, it’s not suitable for daily cash register operations or large paper check writing needs. The system works better for digital financial operations, so traditional banking solutions or hybrid platforms will handle these requirements better.

The platform divides its features between free and paid tiers. Users of the Basic plan at Lili currently cannot access in-app invoicing or specific tax tools, which were previously available at no cost in past versions of the application. The Basic account provides value to users but may encourage them to pay for features that traditional banks supply without additional costs. 

Bluevine provides free checking with interest and no fee restrictions (they generate revenue through different means), yet Lili forces users to subscribe for interest earnings and advanced reports access. Users who prioritize budget-friendly solutions will view the requirement for paid tiers to access full feature capabilities as a potential drawback.

Free ATM access exists for Lili network locations, yet users must pay $2.50 for domestic ATM withdrawals and $5 for international withdrawals when using out-of-network ATMs while incurring both Lili’s fees and ATM operator fees. The system also requires a fee for all cash deposit operations.

Users can transfer money through free incoming wires, but domestic wire transfers require a $15 fee. The fee structure is standard, but it means free services don’t cover everything. The system doesn’t reimburse customers for ATM fees that other banks impose. The absence of MoneyPass ATMs in the area will result in increased expenses for customers who frequently use cash transactions.

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How Lili Compares to the Competition — A Practical Side-by-Side Glance

Lili vs. Bluevine

• Both: No monthly fees, support cash deposits via Green Dot.
• Bluevine’s edge: Earn up to 2.0% APY on checking (with activity), access to business credit (lines of credit), and Bill Pay.
• Lili’s edge: Offers 3% APY on savings (with paid plans), better tax and expense automation.
• Key gap: Bluevine lacks any tax or bookkeeping support. Lili wins if you want a banking + accounting combo.

Lili vs. Novo

• Similarities: No monthly fees, freelancer-focused, free ACH transfers.
• Lili’s edge: Built-in tax tools, automated expense tracking, overdraft protection, and early direct deposit.
• Novo’s edge: Free unlimited invoicing, full ATM fee reimbursements, strong app integrations (QuickBooks, Stripe, etc.).
• Watch out: Novo’s support is mostly email-based and slow. Lili offers faster phone support. Choose Lili if you want bookkeeping + taxes in one app. 

 Lili vs. Traditional Banks

• Big bank issues: Monthly fees (~$10–$15), transaction limits, minimal tech features, almost no interest.
• Lili’s advantages: No fees, unlimited transactions, modern UI, automated tax buckets, and faster payouts.
• Where banks win: In-person service, physical branches, bundled services (e.g., business loans, merchant accounts). Lili is ideal for digital businesses. Use a traditional bank only if you deal with frequent cash or need branch services.

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Contact Lili’s Support Team

Lili’s customer support is available to assist with any business banking questions or technical issues:

Phone Support: Call 855-545-4380

• Available Monday – Friday, 9:00 AM – 8:00 PM EST

Email Support: Send a message to [email protected] 

• Available Monday – Friday, 9:00 AM – 8:00 PM EST
• Saturday – Sunday, 9:00 AM – 6:00 PM EST

In-App Help: Support is also available within the Lili mobile app under the “Help Center.”

For more information, visit their official Help Center.

What Customers Are Saying — Real User Reviews & Feedback

Customer support at Lili is available through in-app messaging and email. Pro, Smart, and Premium plan users also have access to faster priority support, a significant bonus when dealing with financial concerns.

The in-app support interface includes a searchable help center with articles covering common issues such as account setup, card replacement, and tax tools. For more urgent matters, you can submit a ticket or request a callback.

Though Lili doesn’t offer phone support to Basic plan users, many report that the in-app chat and email responses are timely and helpful. Premium users especially commend the VIP experience and faster resolutions.

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FAQs – Answers to the Most Common Questions About Lili in 2025

Is Lili a Real Bank?

Not exactly. Lili is a fintech company that offers banking services through its partner, Sunrise Banks N.A., a member of the FDIC. This means your money is insured up to $250,000.

Can I Deposit Cash Into My Lili Account?

Yes, but only through Green Dot retail locations, which charge a $4.95 fee per deposit.

Does Lili Support Multiple Users on One Account?

Yes! As of 2025, Lili supports multi-user access for teams, available on Smart and Premium plans.

Can I Use Lili Outside the U.S.?

You can access your account abroad and use your debit card internationally, but international wires are only available on higher-tier plans.

Is There a Desktop Version of Lili?

Yes. A newly launched web dashboard offers most core functionalities, including transaction history, savings goals, and tax tools.

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Final Thoughts: Is Lili Right for You in 2025?

Lili isn’t just another banking app. It’s a purpose-built financial companion tailored to the needs of modern freelancers, creators, and small business owners. In a world where time is money and simplicity is power, Lili shines by giving users a platform that handles business banking, taxes, and basic bookkeeping all in one place.

The tax automation tools reduce financial stress, the savings features help you plan, and the invoicing and reporting options keep things organized without requiring an accounting degree. Lili’s pricing remains accessible, offering real value across its plans.

That said, it’s not perfect. Businesses that rely heavily on cash transactions or need lending services may find it lacking. And while customer support is responsive, real-time assistance for Basic users is still limited.

Still, for independent professionals looking to take control of their finances and simplify the daily grind of money management, Lili is one of the most well-rounded platforms available in 2025.

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