Lili Overview
Lili is a mobile-first business banking platform built for freelancers, independent contractors, and gig economy workers. Like Found, Lili integrates tax tools directly into the banking experience — but with a different approach and fee structure. The free tier covers basic banking needs, while Lili Pro ($17/month) adds advanced features for growing freelancers. Here's our comprehensive 2026 review.
Lili partners with Choice Financial Group, an FDIC-insured institution, to provide business checking accounts. The platform is designed around the freelance workflow: receive payments, track expenses, set aside taxes, and manage your business finances — all from a single mobile app. The free plan includes basic checking, expense categorization, and tax bucket features. Lili Pro ($17/month) adds enhanced accounting tools, priority support, and higher transaction limits. There's also Lili Smart ($9/month) as a middle tier.
Fee Breakdown
| Fee Type | Amount |
|---|---|
| Monthly Fee | Free |
| Minimum Balance | $0 |
| Domestic Wire (Outgoing) | n/a |
| Domestic Wire (Incoming) | n/a |
| International Wire (Outgoing) | n/a |
| ACH Outgoing | Free |
| Cash Deposits | n/a |
| ATM (Own Network) | Free |
| ATM (Other Networks) | free (2/mo ATM) |
| Transactions Included | Unlimited/month |
| Extra Transaction Fee | Free |
| Interest Bearing | No (0% APY) |
Pros & Cons
✅ Pros
- ✓ Zero monthly fees on the free plan
- ✓ Built-in expense tracking and categorization
- ✓ Tax bucket feature for estimated tax savings
- ✓ Clean, intuitive mobile-first interface
- ✓ No minimum balance requirement
- ✓ Unlimited free transactions
- ✓ Two free ATM withdrawals per month
- ✓ Designed specifically for freelance workflows
❌ Cons
- ✗ No wire transfer capability
- ✗ No cash deposit option
- ✗ No interest on balances (0% APY)
- ✗ Limited to sole proprietors and freelancers
- ✗ Lili Pro costs $17/month for advanced features
- ✗ Fewer integrations than Novo or Mercury
- ✗ Limited ATM access (2 free per month)
- ✗ Not suitable for growing businesses with employees
Who Is Lili Best For?
Lili is designed for solo freelancers and gig workers who want a simple, mobile-first banking experience with built-in tax tools. If you're a rideshare driver, delivery courier, graphic designer, or any other independent worker, Lili's tax bucket and expense categorization features help you stay organized without separate accounting software. However, Lili's limitations become apparent as your business grows. No wire transfers, no cash deposits, and no support for multi-member LLCs or corporations mean you'll eventually outgrow the platform. Found offers a similar freelancer-focused approach with slightly better tax tools.
Our Verdict
Lili is a capable freelancer banking platform that does the basics well. The tax bucket feature and expense tracking provide genuine value for independent workers managing their own finances. The free plan is sufficient for most freelancers, and the mobile-first design feels natural. While Found edges it out on tax-specific features and Novo offers better integrations, Lili remains a solid choice for gig workers who want banking built for their lifestyle.
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How Lili Compares
| Bank | Monthly Fee | APY | Rating | Review |
|---|---|---|---|---|
| Lili | Free | 0% | ⭐ 4.0/5 | Review |
| Found | Free | 0% | ⭐ 4.2/5 | Review |
| Novo | Free | 0% | ⭐ 4.4/5 | Review |
| Relay | Free | 0% | ⭐ 4.5/5 | Review |
Key Details
Free tier: no monthly fee. Lili Pro $17/mo adds advanced features. Primarily for freelancers and sole proprietors. Built-in tax tools. No wire transfers.
Data last verified: 2026-03. Fees and features may change. Always verify current terms on the bank's website before opening an account.