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About Lili

Lili is a technology company designed for business owners. Banking and debit card services are provided by Choice Financial Group. This bank account is 100% free, with no minimum balance. It comes with a Visa business debit card for easy transactions. Lili offers smart financial tools that help you plan taxes, manage expenses and save.

Pros & Cons


  • No hidden fees
  • Extensive fee-free ATM network
  • No minimum balance requirement
  • Fast direct deposit


  • Mobile transfer limits
  • Fee for certain features
  • Mobile access only

Bottom Line

Lili is a free mobile banking account with financial tools to help you track expenses and manage taxes. There are almost no fees, and you get fast direct deposit. You have to upgrade to Lili Pro to get a savings account.

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What is Lili?

Lili is a mobile banking fintech company created to meet the needs of freelancers and small businesses owners. Up-and-coming establishments often can’t afford high banking charges or fees — and that’s where Lili comes in. It offers no monthly fees on its standard account. You also don’t have to worry about transfer fees or hidden fees.

It can operate as a hybrid account for your business. Although it’s mainly a checking account, you can get a savings account with Lili Pro, the premium plan. Lili also provides an expanse of financial tools to help you manage taxes and sort expenses.

How does Lili work?

Lili provides mobile financial services for freelancers and solo entrepreneurs. It charges no fees and comes with tax tools that can help you save during tax season. You can also create invoices and organize your business expenses with the app. Lili is not a bank; it partners with Choice Financial Group to offer these services.

It is very easy to set up and requires no minimum balance. You can open an account in less than three minutes by providing your name, contact details, address and the type of account you'd like to create on the website. Lili will request your employer identification number (EIN) and Social Security number to confirm your identity. After submitting your application, you will have to complete setup online or on the mobile app to begin using your Visa business debit card.

Lili features

Lili’s standard account comes with a number of convenient features to help save you money and time. These include:

  • No fees: Lili is great for freelancers and business owners looking to minimize banking costs. There are no monthly fees or hidden fees on the basic account.
  • Fast direct deposit: Lili offers free and swift direct deposits. You can receive your deposits earlier than you would with a traditional bank. There are deposit limits.
  • Visa business debit card: Your Lili debit card should arrive within two weeks of you opening an account. You can start making online transactions with the card even before it arrives. The card can also be linked to third-party payment apps like Venmo, Cash App, Google Pay and Apple Pay.
  • Automatic tax-saving tool: Lili is one of the few financial apps where you can automate your taxes. It helps you set aside a percentage of your income in a tax bucket. This is a valuable feature for solopreneurs and freelancers because they often have to handle their taxes on their own.
  • Income and expense tracking tool: Lili provides smart financial tools that can help you track your business expenses and income. You can categorize your expenses and use graphs to view your financial reports.

Lili fees

The Lili standard account comes with no fees. You won’t be charged monthly maintenance fees, deposit fees or transfer fees. You will only be required to pay a fee of $2.50 per use with out-of-network ATMs. If you use an ATM outside the U.S., Lili will charge you $5 per use. This is in addition to the fee your ATM provider will charge.

You can also opt for the Lili Pro account for $4.99 per month. The Pro account offers a premium Visa debit card with cashback rewards, a savings account with 1% annual percentage yield and fee-free overdraft.

Lili FAQ

What bank owns Lili?

Lili is a banking fintech company founded by Lilac Bar David and Liran Zelkha. Banking services are provided by Choice Financial Group.

How long does it take to get a Lili account?

It takes only a few minutes to set up your account. All you have to do is sign up with the necessary information and have your Social Security number at hand for verification. The Lili Visa business debit card can take up to 10 business days to arrive, but you can start with the digital version online.

How do I add money to Lili?

There are different ways to add money to Lili. Open the Lili app to see the options under “Add Money.” You can get paid instantly by connecting your account to third-party payment apps like Paypal, Cash App and Venmo. You can also fund your Lili account using mobile check deposits or direct deposits or by linking your other bank accounts to move funds easily.

Is Lili FDIC-insured?

Your account is insured for up to $250,000 through Choice Financial Group, which is FDIC-insured.

Is Lili good for banking?

Lili is a digital banking service with almost no fees and good user experience. It provides smart finance tools that will help you manage your business expenses and taxes without paying extra accounting fees. It's a good choice for freelancers and independent small business owners looking for a simple, cost-effective banking option. However, if your business makes a lot of deposits or gets multiple checks, Lili may not be a good fit because of the transfer and deposit limits on the account.

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Page 1 Reviews 0 - 10
Customer Service

Reviewed Aug. 28, 2023

After reading several reviews of I tried applying for an account, I got as far as the "Submit EIN Letter" which I don't have and it stopped with no way to move forward. I have sent them 3 email, no response. I tried calling the customer service support number which sends me into an endless loop. Try calling, Press 1 if you don't know your account number. (855) 545-4380 Also, I cannot find any other number for them. Anywhere, all I found were complaints.

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Customer ServiceStaff

Reviewed Aug. 21, 2023

Count on nothing being resolved. The service reps all have the same script. I was unable to wire money into my account and it is now over a week and they still can't figure out what's happening. Moreover it's been over 14 days and I haven't received my bank card. Their response?: "Well it's still within the time frame we send it". I told them I wanted to close my account and they refused.

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    Customer Service

    Reviewed June 28, 2023

    HORRIBLE CUSTOMER SERVICE. DENIED A CHECK because in quotes "We don't feel that the deposit will be paid". Are you serious?? This might be the most unprofessional, ill advised response I have ever received from an establishment. I am advising everyone I know to stay away that has been considering this company.

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    Customer Service

    Reviewed June 5, 2023

    Lili froze my account without a phone call to me as I had deposited a check over their limit. ****At first they sent me an email saying the check was approved no problem***, then they decided they needed further documentation. They sent an email and when I didn't read and respond within an hour, they froze the account and it's 4 days later and it's still not resolved. I have no access to my funds and the customer service can only submit requests. This is a horrible company, please use an established bank.

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    Reviewed Feb. 8, 2023

    First of all this is the worst company service I’ve ever been involved with they. My account got its first deposit of $2,145. They put it on hold so I called the next day. The customer service guy said he couldn’t do anything about it that it had to be head up the hiigher ups which are not really people. It’s all bogus. Long story short they closed my account and now my money is gone and they can’t tell me where it’s at and won’t talk to me anymore… Now where is my 2,145?

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    Reviewed Feb. 7, 2023

    Lili Bank gave me the run around on a charge made on my Lili card which I used to hold a reservation on When I checked out of Yotel I found a charge for the night on my Discover Card which I had left for incidentals. Then later saw a charge made from booking on my lili card. When I disputed the charge at lili bank they told me I would be credited in 10 days. On the 10th day I called lili due to the fact there was no credit and instead of helping me out they closed my account. Now I cannot get my money that was wrongfully charged on the lili card.

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    Verified purchase

    Reviewed Jan. 10, 2023

    Lili offers payroll direct deposit and calls themselves a bank. They are only a shell company for Choice Bank - allowing Choice full use of your funds while offering no support or insurance of your funds. My account was hacked. They immediately denied the claim. They refused to assist me in getting a transaction listing. Customer Service simply hangs up on you when you have a dispute. I finally reached a rep after about 6 calls that gave me a trsx list. But when I filed with their "dispute team" they automatically denied the claim with no investigation at all. They refused to send me required documentation of their investigation/decision.

    I canceled my card and got a new one. The fraud continued. Finally I asked them to give me a whole new account number - my only remaining option. The rep told me he would escalate the request. I got an email same day saying they see no sign of fraud, and will not issue a new account number! This is banking on the level of a 3rd world country! THE FDIC AND BBB DID NOTHING TO HELP. JUST SAY NO.

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    Reviewed Nov. 9, 2022

    You probably have had good experiences with Lili, but I recently did not. I am a Lili Card user. I found later that Lili was the old Green Dot card. They just rebranded to Lili and are currently marketed as a business debit card. I took the card to keep track of some 1099 work I'm performing. On October 16th, I made a reservation for 1-night with Marriott Courtyard using my Lili Card. I checked in on October 22, 2022. When I checked out on October 23, 2022, I switched cards and used a legit credit card to pay for the room. Marriott stated that it could take up to 5-days for the HOLD to be lifted from my Lili Card. As of this writing - 1) My account does not show the debit by Marriott, 2) My account does not show the credit from Marriott. In sum, over $400 has gone missing from my account, and I can't get a straight answer from Lili. They are experts at giving you the run-around.

    After a few calls, they put me on the phone with a confused person. I asked to speak with the supervisor because the confused person refused to follow a debit-credit process from a known and visible debit-credit record. In addition, this gentleman could not explain why I could not see the debit-credit transactions on my online account statement. I've repeatedly asked Lili about this matter to no avail. BEWARE!!! Do not do 4- digit business with Lili! May 2 or 3 digits if you dare. They can't handle it!!

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