The banking platform you choose isn’t just where you store your money, it’s how you manage, move, and grow it. Whether you’re running solo, hiring your first team member, or scaling fast, the right banking partner can streamline your back office, unlock savings, and support smarter financial decisions.
Lili and Relay are both online-first business banking platforms, but their focus is different. Lili is designed for small businesses that want speed, clarity, and control in one platform, combining advanced banking with built-in tools for long-term financial health, plus live support 7 days a week. Relay focuses on cash flow clarity through structure: up to 20 checking accounts and employee cards with controls to separate budgets and keep spending and bookkeeping organized.
To keep this comparison grounded, we also reference third-party feedback and publicly available data points from Trustpilot, BBB, and NerdWallet.
What is Lili?
Lili is a business banking platform designed for small businesses and growing companies, including U.S.-based businesses and international founders operating in the U.S. It provides a full set of business banking services that support day-to-day operations and long-term financial stability, without unnecessary complexity or hidden monthly fees.
Lili offers business checking, high-yield business savings earning up to 4.00% Annual Percentage Yield (APY)[3], fast money movement including expedited transfers, and payment limits built to support higher-volume business activity. Businesses can also access financing options such as loans or lines of credit through Lili’s lending partners, subject to eligibility[10].
The platform supports secure team access with role-based permissions and integrates with commonly used business tools such as QuickBooks, Xero, and Shopify, helping businesses operate efficiently as they scale.
What is Relay?
Relay is a business checking and money management solution designed around the Profit First method, focusing on organizing operating cash through multi-account structures and payment workflows.
With Relay, businesses can create multiple accounts to segment funds, issue team debit cards with permission controls, and use payment features such as ACH and wires. Some savings and advanced features are available on paid plans.
Relay is often chosen by teams that prioritize cash-flow segmentation and structured account layouts.
Differences between Lili and Relay
| Feature | Lili | Relay |
| Best suited for | Small businesses and growing teams (typically up to 10 employees), looking for straightforward business banking, fast money movement, high-yield savings, and responsive support – Including U.S.-based businesses operated by global founders.. | Businesses with complex cashflow management needs or with 30+ employees, that benefit from multiple accounts, and sub-accounts. |
| No monthly fee checking accounts | 1 primary checking account with multi-user access and role-based permissions | Up to 20 individual checking accounts |
| No hidden fees | ✅ | ✅ |
| No minimum balance requirements | ✅ | ✅ |
| No overdraft fees | ✅ | ✅ |
| Mobile check deposits | 80% of checks disbursed same day, others between 1-5 business days[11] | Up to seven business days |
| Maximum savings yield | 4.00% APY Available on all plans | 0.91–2.68% APY Plan-dependent |
| Debit cards | Physical and virtual debit cards to all authorized business owners. | Up to 50 (physical + virtual) |
| Customer support | Live human support, 7 days a week, 24/7 AI chatbot | Email + scheduled calls |
| Credit-building | ✅ (BusinessBuild Card reports to D&B)[13] | ❌ |
| Accounts payable workflows | ✅ (Built-in bill pay)[2] | ✅ (Built-in bill pay) |
| Accounts receivable | ✅ (Built-in invoicing with tracking & reminders)[2] | ✅ (Invoice creation & tracking) |
| Auto-categorization | ✅ (Automated expense categorization)[2] | ❌ (Manual or via integrations) |
| Real-time P&L and cash flow reports | ✅ (In-app reporting & insights)[2] | ❌ (Requires integrations) |
| Better Business Bureau (BBB) Accreditation | ✅ | ❌ |
| International wires | ✅ | ✅ |
| Team access | ✅ (Granular role-based permissions for internal & external users) | ✅ (Granular role-based permissions for internal & external users) |
| App integrations | Built-in tools + QuickBooks, Xero, Gusto, payroll & fintech apps | QuickBooks, Xero, Gusto, payroll & fintech apps |
| FDIC insured | ✅ Up to $3M[12] | ✅ Up to $3M |
| Trustpilot score | 4.7 | 4.3 |
Platform & Tools
Lili
Offers a business banking platform with fast money movement through ACH, wires, and expedited transfers; business savings alongside checking; physical and virtual debit cards; and built-in, optional tools for invoicing, bill pay and bookkeepingIt also supports role-based team access and integrates with tools such as QuickBooks, Xero, and Shopify.
Relay
Focuses on organizing funds through multiple checking accounts, with tools for managing payment activity and team debit cards. Additional workflows such as invoicing, bookkeeping, and tax-related tasks rely primarily on external integrations or paid plans.
APY & Savings
Lili
- High-yield business savings earning up to 4.00% APY
- Available on all plans
- No lockups and no penalties
- Earnings from the first dollar
Relay
- savings earning up to 2.68% APY
- Savings APY varies by plan:
- 0.91% APY on savings accounts (entry tier)
- 1.55% APY on savings accounts (mid tier)
- 2.68% APY on savings accounts (top tier)
- No minimum balance requirement
FDIC Insurance
Both Lili and Relay offer FDIC insurance of up to $3 million through partner banks, but they achieve this coverage through meaningfully different banking structures, which can have implications for diversification and long-term stability..
Lili offers this coverage through multiple banking partners in a simple and consistent setup.
Relay offers the same coveragevia its partner bank, Thread Bank, which is currently operating under an FDIC consent order. While this does not mean customer funds are automatically at risk, it does indicate increased regulatory oversight, which may be a consideration for businesses assessing their long-term banking relationships.
Real-World Feedback from Users
Across third-party reviews, both Lili and Relay receive positive feedback, but for different reasons. Lili is most often praised for responsive customer support, ease of use, and reliability in everyday banking, while critical feedback typically centers on feature breadth or plan-level limitations rather than core banking features access.
Relay, by contrast, is frequently valued for account structure and spend controls, though negative reviews more commonly mention account holds, verification delays, and slower resolution during compliance-related reviews. Together, these patterns reflect two platforms optimized for different operating needs – Lili for straightforward, reliable business banking, and Relay for more complex cash organization at scale.
Support
Lili provides live human support 7 days a week and 24/7 AI chat support, with priority access for premium users.
Relay support is available via email and chat, with phone support offered Monday through Friday during business hours (9am–8pm ET).
Credit & BusinessBuild
Lili includes BusinessBuild, its credit-building program in collaboration with Dun & Bradstreet, anchored by a secured BusinessBuild Card that reports monthly to Dun & Bradstreet. This helps entrepreneurs build their business credit profile, track progress via a live dashboard, and gain insights to strengthen their creditworthiness over time.
Relay does not support credit-building solutions.
Debit vs. Credit Cards
Lili
- Provides business debit cards tied directly to your account balance
- Digital debit card available immediately after account setup
- Physical debit card sent automatically
- Debit cards can be issued to team members with role-based permission controls
- No revenue thresholds or eligibility requirements to start using the card
Relay
- Supports team spending and offers a Credit Card
- Credit card is available by invitation only
- Eligibility requirements include:
- Business established for 6–12 months
- $20,000–$75,000+ in average monthly revenue
- In some cases, maintaining a $25,000 minimum balance in Relay
Lili vs. Relay: Which is Better?
Choose Lili if you value:
- Fast money movement for day-to-day operations
- High-yield business savings available regardless of plan type
- Live, responsive customer support when issues are time-sensitive
- Full core banking with no monthly subscription fee, including checking, savings, transfers, and debit cards
- The option to add tools for managing expenses and income, issuing invoices, and bill payments (available on paid plans)
Choose Relay if you prioritize:
- Structuring cash across multiple checking accounts for budgeting and fund separation focusing on the Profit First method
- Account-level spending controls across teams and departments
Both platforms support small businesses, but they emphasize different strengths.
If you value fast access to banking tools, consistent returns on savings, and customer support you can reach when it matters – without a monthly subscription fee – Lili stands out.
