How to open a business bank account with Lili - Globalfy's banking partner?

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Required Documents Before You Begin

To ensure a smooth application process, please have the following documents and information ready:

• EIN Letter (Employer Identification Number confirmation).

• Valid Passport from an approved country.

• U.S. Phone Number or a phone number from an approved country (VoIP numbers are not accepted).

• Proof of Residence (lease agreement, property deed, utility bill, or local bank statement).

• Business Address: must be a physical location in the U.S. (a virtual address may be used here).

• Mailing Address: must also be the virtual address.

• Articles of Incorporation/Organization (state registration document).

• Operating Agreement (company’s internal agreement).

⚠️ Important: The application must be submitted from within the U.S. or from an approved country. Use of VPNs is strictly prohibited. If any requirement is not met, the application will be automatically rejected.

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Starting the Application 

Access the Platform

• Click on “Bank Accounts” and select Lili.

• Enter your name, email, and phone number. 

Personal Details

• Full name: Enter your first and last name exactly as shown on your ID or passport.

• Phone number: Provide a number where the bank can easily reach you. It can be either a U.S. number or one from your country of residence.

• Members information: Indicate whether or not you are a U.S. resident, then enter your identification number and date of birth.

• Home address: Enter your complete residential address.
  

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Business Details

• Business type: Select your company’s legal structure from the available options (verify this on your formation documents).

• Legal information: Include your company’s legal name, its tax identification number (EIN), and the state of incorporation, and check the checkbox.

• Business industry: Select the option that best reflects your business.

• Business address: Enter the company's mailing address (if you have the Globalfy service active, you can enter the Virtual Address).

• Operational address: Enter the physical location where your company operates.

  • This can be outside the U.S. and may even be your residential address if you work from home.

• Card shipment: Choose where you want to receive your card.

• Business owners: Add all company owners with more than 25% ownership and mark the verification box.

• Business description (Divided in three sections): In English, include your company’s activity, whether you sell products or services, client locations, how you plan to operate and why you chose to do business in the U.S.

• Business locations: List the countries where you will have clients. The U.S. must always be included.

  • If you will be doing business in other countries, you may list them as well.

• Expected payment volume: Enter the estimated monthly payment volume your account will receive.

• Website: You may share the company's website URL, online profile (such as linkedIn) or select Not Public yet - I'll share materials instead (Lili will request documentation depending on your business's industry and their needs).

• International activity: Indicate whether you will expect to receive international transactions.

• Global business locations: Indicate if your business operates in other locations besides the Operational Address you entered previously in the form.

• Business size: indicate the number of employees.

• Provide estimates for:

  • Annual Revenue

• • Monthly ACH Payments

• • Monthly Domestic Wires

• • Monthly International Wires

• Intended use of account: choose the option you considerate is the best.

• Funding sources: indicate one or more primary sources you will use to fund the Lili's account.

• Principal source of initial business capital: choose one or more options.

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Choose a Plan

Choose the account plan you would like to open with Lili. Depending on the type of account, you will have access to more or fewer tools:

• This can also be updated in the future.

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Confirmation

• Confirm your details and click on Submit Your Application.

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Completion

After clicking Submit Your Application your application enters a review process that, in most cases, takes only a few minutes. From there, you will encounter one of the following scenarios, depending on the decision made by the Lili team:

• Approval: If all your information is correct, you will receive an email confirming that your account is open and ready for use. You will be able to log in immediately, deposit funds into your account, and start using your Lili Visa debit card as soon as it arrives by mail.

   

• Request for additional information: If your business structure is complex or if any details require clarification, you will receive instructions—via email or directly within the app—on which additional documents to upload. Once you submit this information, the review process will take a few more business days.

   

• Rejection: If your profile does not meet the required criteria, you will be notified that your application has been denied for the time being. Depending on the situation, you may be able to reapply in the future if your business details or documentation change.

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After Approval

Once your account is approved:

• You must deposit funds into Lili promptly to keep the account active and in good standing.

• We recommend taking this tour of how to use Lili's dashboard.
  
  

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Possible Additional Requirements

• Businesses with multiple foreign owners (UBOs) are permitted.

• Each UBO holding more than 25% ownership must provide their own documentation.

• Business owners with multiple companies may open additional accounts once the first account is approved, directly through their Lili Dashboard.