Guide to Lili's benefits and features for businesses

FDIC Insurance: Deposits are insured up to $250,000 through Sunrise Banks, N.A., Member FDIC.
Extended Coverage: Through Lili’s Sweep Network, deposits can be protected up to $3,000,000 by distributing funds across multiple FDIC-insured partner banks.
Fraud Protection: Debit cards include standard Visa protections against unauthorized transactions.
Digital Security: Lili uses encryption, secure login protocols, and account monitoring to safeguard customer data and funds.

No Monthly Fees: The free business checking account has no maintenance fees.
No Minimum Balance: You can open and maintain the account without minimum deposits.
Expense Tracking & Tax Tools: Automated categorization of expenses and tax-saving features.
Budgeting: Lili offers savings “buckets” for taxes and other goals.
Integrations: Lili integrates with platforms like Stripe, Venmo, PayPal, and Square for seamless payments.
Account Types: Offers a Free Business Checking account as the entry-level option. For businesses needing advanced tools, paid plans (Pro, Smart, Premium) are available. More details can be found on Lili’s website.

Debit Card: Issued by Visa via Sunrise Banks.
Virtual Cards: Available for online purchases.
Controls: You can lock/unlock cards instantly from the app, set spending limits, and track usage.
Distribution: Currently, Lili does not offer multiple employee cards under one account; cards are tied to the account holder.

Mobile Check Deposit: Available for U.S. checks via the app.
Limits: Daily and monthly deposit limits apply (varies by account history).
eChecks: Electronic checks are not supported; only physical U.S. checks can be deposited.

Savings Account: Free tier includes access to savings with up to 4.00% APY.
Balance Requirement: No minimum balance required to earn interest.
Benefit: Automated transfers to savings buckets for tax or emergency funds.

Eligibility: Non-US citizens living outside the United States or Non-Resident Aliens currently residing in the United States can apply for a Lili account, provided they have a registered business in the US and citizenship from one of the supported countries.
Supported Countries: Applicants must check the list of supported countries in Lili’s Help Center to confirm eligibility.
Required Information: During registration, applicants must provide:
- Full name and nationality.
- Business name and US business address.
- Personal address.
- Date of birth.
- Passport number and expiration date.
- Email address and mobile phone number.
Documents: Depending on the business type, additional documentation may be required, such as:
- IRS EIN Letter.
- Articles of Organization.
- Partnership Agreement.
- Articles of Incorporation.
- Proof of address.

Best Fit: Freelancers, sole proprietors, and small businesses in service industries.
Restricted Businesses: High-risk industries (e.g., gambling, adult services, crypto trading, illegal activities) are not permitted.

Channels: Support is available via in-app chat, email, and phone.
Service Quality: Reviews highlight responsive and helpful support, though some advanced features require paid plans.

If you still have any questions or need further assistance regarding this topic, we are here to help!

✉️ Simply click here to submit your support request and our team will be glad to assist you.

In today’s business world, traditional banking is no longer enough. Companies need fast, secure, and flexible solutions that keep pace with their growth. This guide provides a comprehensive overview of Lili’s benefits, features, and tools designed to help your business thrive.