Questions about Lili? Find the answers here

Question 1

What is Lili?

Answer

Lili is an all-in-one mobile banking app designed for freelancers, offering premium banking services with no account fees and no minimum balance requirement. In addition to banking services, Lili offers smart tax tools and business solutions so you can easily stay in control of your finances, saving time and money.

The Lili mobile banking app is available on both iOS and Android mobile devices.

Question 2

What is Lili’s mission?

Answer

Our mission at Lili is to empower freelancers by providing financial tools and services designed to improve their work, their life, and their balance. Our focus is on removing any hurdles that limit our customers’ ability to thrive. To accomplish this, we aim to provide a comprehensive financial management solution to the freelancer community, whose needs are not adequately served by traditional banking options.

Question 3

Who can use Lili?

Answer

Anyone 18 or older with a social security number and a U.S. address is welcome to apply for a Lili account!

Lili is specifically designed for independent workers and small business owners, so in order to get a Lili account, at least some of your income should be generated from alternative sources like freelance or gig work, or as an independent contractor or small business owner.

Question 4

Does Lili charge any fees?

Answer

Lili offers mobile banking with no account fees, which means: no sign-up fees, monthly fees or annual fees. Lili also does not charge you at the ATM, although you are responsible for any ATM provider fees.

In addition to the fee-free Lili Standard account, Lili users have the option to upgrade to a Lili Pro account, which has a monthly fee of $4.99. Lili Pro includes a Premium Visa Business debit card with cashback rewards, fee-free overdraft, automatic savings (with 1% APY), among other features.

Question 5

Is Lili a real bank?

Answer

Lili is not a bank – Lili is a mobile banking app designed for freelancers that offers banking services provided by Choice Financial Group Inc., Member FDIC.

Lili customers can choose between a Lili Pro or Standard checking account, which comes with our signature Visa business debit card.

Question 6

What makes Lili different from other banking services?

Answer

No hidden fees, easy account set-up (it takes less than 3 minutes), 24/7 access via our intuitive mobile app, no withdrawal fees from ATMs across the US (fees from ATM owner or other banks still apply), data-driven insights that help you manage your money, a debit card that gives back with Lili Visa SavingsEdge rewards, special functionality tailored to the unique needs of freelancers (like the ability to easily categorize business and personal expenses or automatically set aside a portion of every deposit into a sub-account for tax season) – all for free. Need we go on?

Question 7

What bank does Lili use?

Answer

Lili’s banking services are provided by our partner bank, Choice Financial Group Inc., Member FDIC. More information about Lili’s partnership with Choice Financial Group can be found at lili.co/terms-conditions.

Question 8

Does Lili offer a checking account?

Answer

Yes! Lili offers our customers a checking account, with the choice between a Lili Pro or Lili Standard plan.

Question 9

Does Lili offer a savings account?

Answer

Lili offers an Automatic Savings Account with 1% APY to Lili Pro users that allows you to save up by transferring at least $1 daily to your rainy day fund.

Question 10

Does Lili offer fee-free overdraft?

Answer

Yes! Lili offers Lili Pro users fee-free overdraft with the BalanceUp feature. BalanceUp enables you to make debit card purchases that overdraw your Lili account up to $200 with no overdraft fees.

Question 11

Is Lili available outside of the U.S.?

Answer

No – for the moment Lili is only available within the continental U.S.

Question 12

How do I open a Lili account?

Answer

You can open a Lili account here (it takes less than 3 minutes!) and download the Lili app via the App Store or Google Play.

Once you open your account and download the Lili app, you can start using your digital card! To view your card details, open your Lili app, go to the menu, and tap on ‘See My Card’.

Your physical card should arrive 7 business days after opening your account.

Question 13

How do I login to Lili?

Answer

You can login to Lili via the Lili banking mobile app, available for download via the App Store or Google Play.

Question 14

Can I add a DBA to my bank account?

Answer

Yes! While your Lili account must be registered under your own name, you can add your business name to your account if you are operating under a DBA.

To add your DBA to your Lili account, follow the steps available here.

Question 15

How do I add money to my Lili account?

Answer

You can add money to your Lili account via your Lili mobile app, by selecting any of the options available under the “Add Money” menu tab, including:

Instant Pay
Direct Deposit
ACH Transfer
Link Another Bank Account
Scan Your Check

Read more about adding money to your account here.

Question 16

Can I withdraw cash from my Lili account at ATMs?

Answer

Yes – you can withdraw cash from your Lili account at ATMs anytime! Lili doesn’t charge withdrawal fees from more than 38,000 ATMs across the US. You can find the ATM closest to you using our Free ATM locator available in the Lili app.

Question 17

How do I upgrade to Lili Pro?

Answer

If you are an existing Lili account holder, you can upgrade your Lili Standard plan to Lili Pro by accessing your Lili mobile app, tapping on the main menu, and selecting Account Type > Upgrade.

Learn more about Lili Pro here.

If you haven’t joined Lili yet, you can sign up here.

During the signup process, you can choose between Lili Pro and Lili Standard.

Question 18

How do I invite friends to join Lili?

Answer

You can invite your friends to join Lili by sharing your personal referral code with them (you can find your personal referral code in the “Invite and Earn” section in your Lili app menu).

When your friend joins Lili using your personal referral code and spends a minimum of $250 with their Lili card within the first 45 days after signing up, both you and your friend will receive a $50 referral reward. You can receive a maximum of 10 referral rewards, so up to $500. You can find the full Terms and Conditions of Lili’s Referral Program here.

Question 19

How can I contact Lili Customer Service?

Answer

You can find the answers to many frequently asked questions in our Help Center.

If you still have any questions, our Customer Service team is here to help! We’re available Monday through Friday via email at [email protected]. Our hours of operation are Monday to Friday, between 9 AM and 7 PM EST.

Question 20

How does Lili protect my account?

Answer

There is nothing more important than protecting your information and privacy. In addition to your account being FDIC-insured by Choice Financial Group Inc., Member FDIC, we have multiple layers of security both on our website and within the Lili app to ensure the safety and integrity of your account and data.

There are important things you should do to keep things secure on your end, as well. Make sure you choose passwords that only you will know and if you have access to more sophisticated technology like Touch ID or facial recognition, use it!

If you notice a transaction that you don’t recognize, please follow the steps listed here.

Feel free to review Lili’s Privacy Policy for details about how we protect the privacy of Lili account holders.

Question 21

Is my account insured by the FDIC?

Answer

Absolutely – all Lili accounts are FDIC-insured up to the standard maximum deposit insurance amount of $250,000 by our partner bank, Choice Financial Group Inc., Member FDIC.

Question 22

Where can I use my Lili Visa debit card?

Answer

Your Lili Visa Business debit card is accepted everywhere Visa is accepted.

You can also use your Lili Visa debit card to withdraw cash at over 38,000 ATMs across the US, free of charge. Find the nearest one using our Free ATM locator in the Lili mobile app.

Question 23

What should I do if I don’t recognize a transaction in my Lili account?

Answer

If you don’t recognize a transaction in your Lili account, we urge you to temporarily freeze your card in order to avoid any other fraudulent transactions being posted in your account. You can do so as follows:

Log in to your Lili account via the mobile app
In the Menu, under Lili Card Settings, switch “Transactions are allowed” to off.

After following the above steps, you should contact us immediately by calling 855.545.4380.

Question 24

Where can I find more information about Lili’s policies?

Answer

You can find more information about Lili’s Terms and Conditions at lili.co/terms-conditions, and Lili’s Privacy Policy at lili.co/privacy-policy.

Questions about Lili? Find the answers here

Frequently Asked Questions

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