Special discount
Get 30 days free plus 40% off Lili Smart fee for 3 months
Get 40% off Lili Smart fee for 3 months
Special discount
Get 30 days free plus 40% off Lili Smart fee for 3 months
Get 40% off Lili Smart fee for 3 months
Welcome to Lili!
This Account Agreement is effective 10/1/2024.
IMPORTANT – Please read carefully and retain this Account Agreement for your records.
Your Account (defined below) is provided by Sunrise Banks, N.A., Member FDIC (“Sunrise” or “the Bank”), which is also the issuer of your Lili Visa® Debit Card (“Lili Card” or “Card”). Sunrise is an FDIC insured, equal opportunity lender. Lili App Inc. (“Lili”) is a program manager and service provider to Sunrise. In that role, Lili is responsible for providing access and other services to facilitate your use of the banking products and services provided by Sunrise. Lili is a financial technology company, not a bank. Lili does not provide your Account or any other banking services. This Account Agreement (the “Agreement”) contains the rules that govern, where appropriate, your Account(s) and Card(s). “We” or “us” means Sunrise and, in its capacity as a service provider to the Bank, Lili. If you have any questions about this Agreement, please contact us at [email protected]. The words “you” and “your” mean each Account Owner and anyone else with authority to deposit, withdraw, or exercise control over an Account.
By applying for an Account or enrolling in Services, you agree to be bound by this Agreement and agree to pay any fees that may be imposed. This Agreement incorporates by reference any disclosures we give you when you open your Account, subsequent disclosures we provide in connection with an Account or Services, periodic statements, user guides, the applicable privacy policies, and any other disclosure or terms we provide to you in connection with an Account or Services, in each case as may be amended from time to time. Your opening and use of an Account or Card is subject to the Sunrise Privacy Policy, which is available here and Lili Privacy Policy, which is available here. You authorize and expressly direct Sunrise to provide your personal information to Lili, a non-affiliate.
“Account” means a checking or savings account with Sunrise that is opened through Lili.
“Additional User” means a beneficial owner of the business who owns at least 25% of the business and who has been given access to the Account by the Owner.
“Business Account” means an Account established primarily for commercial purposes that is not held or maintained primarily for personal, family, or household purposes as defined under Article 9 of the Uniform Commercial Code (“UCC”) and is established under the name through which the business or operation is conducted and presented to the public.
“Card” means the Lili Card issued by Sunrise for carrying out all Card Transactions from an Account, as provided for in this Agreement.
“Card Transactions” means any payment made for goods or services, cash withdrawals from an ATM or transfer of funds made through the use of the Card or the Card number.
“EIN” means the tax / employer identification number received from the Internal Revenue Service (IRS).
“Owner” means the person who opened the Account and who controls the Account, and who has authority to grant Additional User access for beneficial owners who own at least 25% of the business.
“PIN” means a personal identification number.
“Service” means a bill payment service, electronic funds transfer service, mobile deposit service, or any other financial product, feature, or service provided by Sunrise and accessed and made available through the Lili App.
Unless it would be inconsistent to do so, words and phrases used in this Agreement should be construed so that the singular includes the plural and the plural includes the singular.
We may amend or change any terms of this Agreement or any disclosures and documents provided to you. Notice of the amendment or change will be provided to you as required under applicable law.
We may make adjustments to your account from time to time. This may be due, for example, to an error or the return of an item you deposited which was unpaid or if a deposit is posted in the wrong amount. We may also cancel or suspend your Account, Lili Card, other Services, or this Agreement at any time at our sole discretion.
If at any time the terms, conditions or fees associated with your Account are not acceptable to you, you may terminate this Agreement by closing your Account after paying any fees or charges owed to us.
For purposes of this Agreement, our business days are Monday through Friday, unless stated otherwise. Federal bank holidays are not included.
Any waiver by us must be approved by an authorized representative of Lili and/or the Bank, as applicable. If a waiver is approved by us, we are not obligated to provide similar waivers in the future.
To help the government fight the funding of terrorism and money laundering, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
This means that when you open an Account or use our Services, we may ask for your name, address, date of birth, and social security number (SSN) and any other information that will allow us to identify you. We may also ask to see other identifying documents such as driver’s license or other documents that validate your identity.
We may also ask for your business’s legal name, EIN, legal address, state of incorporation, and other information that will allow us to identify your business. We may also require proof of legal formation such as articles of incorporation, partnership agreement, fictitious business name registration (DBA) or other such business formation documents to add a business name to your Account. We may also require the identifying information listed above regarding the owner or owners of the business, as well as the percentage of ownership of all business owners (ultimate business owners (”UBOs”)) who own 25% or more of the business.
Even if you are an existing customer of ours, we may ask you to provide this kind of information and documentation because we may not have collected it from you in the past or we may need to update our records.
If, for any reason, you are unable or unwilling to provide the information necessary to verify your identity, the personal identity of all business owners (UBOs) who own 25% or more of the business, or the identity of your company is not able to be confirmed, your Account may be suspended or closed, which may result in additional fees assessed to the Account.
You are responsible for the accuracy and completeness of all information supplied to us in connection with your Account and the Services provided and for notifying us if you move or change your email address or telephone number or if there are any other changes to the information you have provided.
During the account opening process or thereafter, we may ask for additional information as part of our customer due diligence review or for risk management purposes. You agree to comply promptly with any such requests. We reserve the right to reject any application or suspend or close your account based on your failure to comply with our requests or based on our risk appetite. For risk management purposes, such as to prevent fraud or money laundering, we may block transactions with certain merchants or merchant categories, or we may block activities in certain countries.
We offer Business Accounts for commercial purposes only in the 50 US states and the District of Columbia. Only business Owners 18 or older (or 19 in Nebraska or Alabama) who can form a legally binding contract can open an Account and use our Services. We may impose other restrictions as well. Examples of businesses supported include, but are not limited to, individuals acting as sole proprietors, single member limited liability companies (LLC), and multi-party companies such as a general partnerships, limited partnerships (LP), limited liability partnerships (LLP), limited liability companies (LLC) or corporations (S-Corp). We do not open accounts for Trusts, Foundations, or charitable organizations of any type.
We will add a fictitious business name (DBA) to any sole proprietor Account if appropriate registration of the DBA is provided and can be verified.
By opening a Business Account with us, you certify to us that you will use the Account and any sub accounts primarily for commercial purposes and not primarily for personal, family or household purposes as defined under Article 9 of the Uniform Commercial Code (“UCC”.)
Account Owner may add an Additional User(s) to the Account. The Additional User must be a beneficial owner of the Account, holding 25% or more ownership in the business. Owner and Additional Users are responsible for all authorized transactions initiated and fees incurred by use of the Account. If an Additional User is permitted access to Account, Account number(s), or PIN, we will treat this as if the Owner has authorized such use and both Owner and Additional User will be liable for all transactions and fees incurred by such person(s). Owner and Additional User are wholly responsible for the use of Account according to the Lili App Inc. Terms and Conditions. Account Owner is responsible for terminating any Additional User’s access to Account by contacting customer support by email at [email protected] or by phone at 855-545-4380. We may continue to recognize an Additional User’s authority until we receive notice from the Owner and have had a reasonable time to act upon and process an access termination request from the Account Owner.
Account Owner may allow authorized persons, such as an accountant, to view account information. This authorized person is defined in this Agreement as an “Authorized Viewer.” If you grant access to an Authorized Viewer, such individuals will have view-only access to the Account and will not be able to conduct activity in the account. Given the sensitive nature of the information you will be sharing with the Authorized Viewer, you should carefully consider whether to grant View Only Access.
We are making you aware of the following important information before you provide account access to an Authorized Viewer:
If you grant access to an Authorized Viewer on the Lili App or website, you authorize Lili and Sunrise to provide the Authorized Viewer access to the Lili Account. You consent to and authorize Lili and Sunrise to give my Authorized Viewer the ability to review, print, download, save, and distribute Account data, including statements, transaction history, and certain Account profile information. You understand that by granting View Only Access to the Authorized Viewer, he or she will have access to confidential personal and business information in the Account, including your mailing address and account number. You understand that the information available to the Authorized Viewer will include non-public personally identifiable information about you and any other Authorized Users. By checking the “I Agree” or other similar button in the Lili App or website, you direct and provide consent to Lili and Sunrise to share your non-public personally identifiable information with the Authorized Viewer. You agree that you will indemnify and hold harmless Lili and Sunrise from any and all matters arising from the view-only authorization and that Lili and Sunrise are not responsible in any way for any damages that may arise from your granting View Only Access to the Authorized Viewer. If this Account is a legal entity account, such as an LLC, S Corp, or Partnership, you attest that you have authority on behalf of the legal entity to grant View Only access to this Account.
Lili App Inc. offers a basic business checking Account and three, monthly fee-based business checking Accounts as detailed in this section. For fees associated with each account type, please see Section 3.6, Monthly Account Fees.
The Lili Basic Account is a basic business checking Account with no monthly fee which features a Lili Card to make purchases. The Lili Basic Account is a non-interest-bearing checking account, which does not include a traditional “checkbook” feature. All transactions are conducted via the debit card or electronic funds transfer services. A non-interest-bearing sub-account called the “emergency bucket” is also available with the Lili Basic Account.
Account holders have the option to upgrade their Lili Basic Account to the Lili Pro Account, which includes all the core banking features of a Lili Basic Account, but for a monthly fee (listed in Section 3.6 Monthly Account Fees) provides the additional banking and non-banking features described below. A Lili Pro Account can be established at initial registration, or at any time after opening an account through the Lili App.
Lili Pro Accounts include the same core banking features as Lili Basic, along with these additional banking features.
Lili Pro Accounts offer additional value-added expense management features.
We reserve the right to make changes to our expense management features at any time with or without any prior notice. For more details on current expense management features offered with the Lili Pro Account, please refer to the Lili App.
A Lili Smart Account can be established at initial registration, or at any time after opening an account through the Lili App. Account holders may upgrade their Lili Basic Account or Lili Pro Account to the Lili Smart Account for a monthly fee (listed in Section 3.6 Monthly Account Fees.)
The Lili Smart Account provides all the banking and expense management features of the Lili Pro Account described in Sections 3.2.1.1, Banking Features and 3.2.1.2. Lili Pro Expense Management Features, along with the following additional accounting features:
We reserve the right to make changes to our expense management and accounting features at any time with or without any prior notice. For more details on current expense management and accounting features offered with the Lili Smart Account, please refer to your Lili App.
A Lili Premium Account can be established at initial registration, or at any time after opening an account through the Lili App. Account holders may upgrade their Lili Basic, Lili Pro, or Lili Smart Account to the Lili Premium Account for a monthly fee (listed in Section 3.6 Monthly Account Fees.)
The Lili Premium Account provides all the banking, expense management and accounting features of the Lili Smart Account as described in Sections 3.2.1.1, Banking Features, 3.2.1.2. Lili Pro Expense Management Features, and in Section 3.2.2 Lili Smart Account, along with the following additional premium features:
We reserve the right to make changes to our expense management and accounting features at any time with or without any prior notice. For more details on current expense management and accounting features offered with the Lili Premium Account, please refer to your Lili App.
There is no minimum balance requirement to open an Account.
In addition, we reserve the right to:
Lili Basic, Lili Pro, Lili Smart, and Lili Premium Accounts feature non-interest-bearing checking accounts.
Interest bearing Savings Accounts are available only with the Lili Pro, Lili Smart, and Lili Premium Accounts.
Interest will be paid on the portion of balances up to and including $100,000 in Savings Accounts that are in good standing (all monthly fees have been paid). The portion of balances over $100,000 will not accrue interest. Interest paid on Savings Accounts will begin to accrue the day funds are moved to the Account. Interest will be compounded on a daily basis method (this method applies a daily periodic rate to the principal in the Account each day) and credited once a month on the first day of the following month and will be posted to the savings Account. The Annual Percentage Yield (APY) shown in conjunction with the interest rate assumes all funds (including interest earned) will remain on deposit. If you close your savings Account before interest is credited, you will not receive the accrued interest. Any withdrawals will reduce the earned APY. Fees may reduce earnings. A balance of at least $.01 is required to obtain the APY. We reserve the right to use any funds, including interest earned, in the savings account to cover any unpaid monthly plan fees or any other amounts due to us.
The Savings Account is a variable rate account. We may change the interest rate and Annual Percentage Yield (APY) at our discretion. Rates may change at any time. To obtain the current interest rate and APY visit our website.
Savings Rates Effective Date: October 1, 2024
| Account Type | Annual Percentage Yield (APY) | |
|---|---|---|
| Savings Account | 3.65% up to and including $100,000. 0.00% on the portion of balances over $100,000. |
You agree to maintain a positive balance and will not incur overdrafts. If you manage your Account in such a way that it results in a negative balance or becomes overdrawn, you agree to rectify the matter by transferring sufficient funds from your Savings Account, linked savings buckets, or external account to pay the overdrawn balance within three (3) business days. Your failure to bring your Account to a positive balance may result in the suspension or termination of your Account or the Services. Further consequences may be taken if you do not remedy the situation within the required timeframe, which can include: (1) the reporting of your negative balance to a reporting agency; (2) legal action; (3) charging you fees for the overdraft in accordance with our Schedule of Fees; and/or (4) referring your Account to a third-party collection agency.
We process items in the order in which we receive them.
Monthly Fees for Lili App Inc. Accounts described in Section 3, Product Disclosures, are listed below.
| Account Type | Monthly Fee |
|---|---|
| Lili Basic Account | $0.00 |
| Lili Pro Account | $15.00 |
| Lili Smart Account | $35.00 |
| Account Type | Monthly Fee |
|---|---|
| Lili Premium Account | $55.00 |
Other transaction fees may apply. Additional fees are set forth in the Schedule of Fees.
The following transaction limits apply to all Lili Account types, except where indicated. We reserve the right to restrict any feature below or lower these limits on any Account or Account type for risk management purposes.
| Type | Limits |
|---|---|
| ACH Inbound (Linked Account) | $5,000 per month |
| ACH and Wire Transfer, Outbound (Combined limit, including Express ACH) | $50,000 per day $250,000 per month |
| ACH Inbound (Direct Deposit one-time or recurring) | No maximum limit |
| Wire Transfer-Domestic Inbound Only | No maximum limit |
| Debit Card-ATM Withdrawal or Point of Sale cash back | $1,000 per cardholder per day |
| Debit Card Purchases | $10,000 per cardholder per day No limit per month |
| Cash Deposit | $1,500 per cardholder per day $3,500 per cardholder per week $5,000 per cardholder per month |
| Type | Limits |
|---|---|
| Mobile Check Deposit | Up to $50,000 per month Lower dollar limits and limits on the number of checks accepted for deposit may apply to individual Accounts or Account types for risk management purposes. |
| Mail a Check | $25,000 per check $100,000 per month |
Please refer to the specific terms and conditions for any bonus campaign which may be offered from time to time.
All items deposited will be handled by us as an agent on your behalf.
We reserve the right to reject a deposit if it is made payable to Lili or Sunrise and contains no other information that might assist us in identifying the Account to which it should be deposited. We reserve the right to refuse any other type of deposit if we believe it is fraudulent, will not be paid, it is not made payable to you, or is otherwise suspicious in nature. We will not be held liable if such action causes outstanding items to be dishonored and returned, or payment orders to be rejected. Refused deposits will be returned to the sender.
All deposits will be credited to your Account in accordance with our Funds Availability Policy. If you need to be sure when a particular deposit will be available for withdrawal, you can verify the availability of your deposit by viewing the transaction details in your Lili account.
In order to transfer funds from an account that you own or have control of at another financial institution to your Account with us using the Automated Clearing House (“ACH”) Funds Transfer Service, we use Plaid to gather your data from external financial institutions you connect via the Lili mobile app. By using our Service, you grant us and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy at plaid.com/legal.
All ACH inbound transactions must match the name on your Account to be accepted. We reserve the right to return ACH deposits which are not in your name, at our own discretion. ACH transactions will not be processed and accessible until the Service is activated by us. Funds from these types of deposits will not be available until after the funds have settled. For more information on ACH Funds Transfer Service, please see Section 6.3.2.4.
You may initiate direct deposits to your checking Account by providing your payor with our Routing Number, 091017138, and your 12-digit Account number which can be found by logging in to the Lili App. If we deposit any amount into your Account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from your Account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
If a direct deposit posts to your Account and is later found to be made payable to someone other than yourself or another account owner listed in our records, the amount of the deposit will be deducted from your Account and returned to the originator without prior notice to you.
We accept cash deposits to your Account in conjunction with designated merchants through Green Dot subject to transaction limits set forth in Section 3.7. Please do not send cash deposits through the mail. If a cash deposit is received for your Account, you agree that our determination of the amount of the deposit will be final. We are not liable for any deposits, including cash, lost in the mail, lost in transit, or not received by us.
For checks deposited via mobile deposit (remote check deposit), the check shall not be considered to have been received by us until we have received the valid electronic check image file and have accepted the check for deposit. Checks received on any given business day by the cut-off time will be accepted or rejected no later than the following business day by the cut-off time. The cut-off time is listed in Section 5.4, Business Days. Limits to the number of mobile deposits permitted and the amount of funds that can be deposited are imposed for security reasons. For this purpose, we may not readily disclose those limits to you.
You agree to properly endorse all items captured and submitted using the mobile deposit service. This should include a signature(s) from the named payee(s). It is also required that you write “For Lili Mobile Deposit Only.” You agree, after you submit an item for deposit using the mobile deposit service, you will not redeposit, otherwise transfer, or negotiate the original item. Additional restrictions and limits for the Mobile Deposit Service may be found below.
You may receive domestic incoming wire deposits to your account subject to our Funds Availability Policy documented in section 5.0 and Transaction Limits set forth in Section 3.7. See Section 6.7, Wire Transfer
Service for other terms and conditions. See the Schedule of Fees for any fees associated with receipt of domestic incoming wires.
If final payment is not received on any item you deposited to your Account, or if any electronic fund transfer to your Account is returned to us for any reason, you agree to pay us the amount of the return.
We may re-present any item you deposit with us that is returned to us unpaid without prior notice to you. We may charge a fee for returned deposited items in accordance with our Schedule of Fees.
You authorize us to attempt a collection of previously returned items that you deposited. In our attempts to collect these items, you agree that we may allow the payor bank (the bank on which the item is drawn) to hold the item beyond its midnight deadline. If an item you deposit is returned unpaid, you waive the requirement for notice of this return.
If a claim is made on any item subsequent to final payment on the grounds that the item was altered, bears a forged or unauthorized endorsement, or was not otherwise properly payable, we will withhold credit for the item from your Account until final determination of the claim. In addition, we will not be liable for a check, draft, or other item that you deposit that has been forged or altered in such a way that a reasonable person could not discover the forgery.
Information contained in this section is to assist you in understanding our Funds Availability Policy. We do not accept in-person or mailed deposits.
It is our policy to review each deposit and determine how the funds are being deposited. We make the funds available to you according to the deposit type and when the funds were received. Some deposit types may not be available for immediate use. When we delay the availability of funds or place a hold on a deposit made to your Account, you may not withdraw those funds. In addition, we will not use these funds to pay bills on your behalf or fund other debits, such as ACH withdrawals or wire transfers, during the hold period. We reserve the right to refuse any deposit. If final payment is not received on any item you deposited to your Account, or if any direct deposit, ACH deposit or electronic fund transfer to your Account is returned to us for any reason, you agree to pay us the amount of the return, plus any fee in accordance with our Schedule of Fees.
The length of delay in the availability of funds varies depending on the type of deposit. Special rules may apply to new Accounts.
The length of delay in the availability of funds is counted in business days from the day your deposit is applied to your Account. Deposits received after 4:00 PM Eastern Time (EST/EDT) will be considered to be received on the next business day.
Funds from transfers between Accounts, preauthorized electronic payments such as direct deposits, or other preauthorized electronic payments and cash deposits through a third-party vendor will generally be available on the day the deposit is applied to your Account, subject to cut-off times described above.
Funds from electronic payments or transfers you initiate from your outside accounts (debits) will be applied to the beneficiary Account when we have verified the external account and received payment in collected funds. Once the funds are applied to your Account, they will have same-day availability.
Incoming ACH credits may not be available until the business day after the date payment is received in actually and finally collected funds from the originating bank, subject to cut-off times described above.
Incoming domestic wire deposits received during normal business hours of 8:00am to 4:00pm Eastern Time will generally be processed the same day they are received; however, all incoming wires are subject to risk based review and may not be available until the next business day at our sole discretion. Funds from incoming domestic wire transfers are available the day the deposit is applied to the Account.
Once your remote deposit check is accepted, funds you deposit by mobile check deposit through the Lili App may be delayed for a longer period of time. They will generally be available no later than the fifth business day after the day of your deposit, subject to cut-off times described above.
If you are a new customer, the following special rules will apply during the first 30 days your Account is open, subject to cut-off times described above:
Unless otherwise indicated by us, only the Account Owner may withdraw or transfer all or any part of the Account balance at any time with your Lili Card, through bill pay, or other available Services. We reserve the right to refuse any withdrawal or transfer request that is attempted by any method not specifically permitted or that exceeds any frequency or monetary limitations. Even if we honor a nonconforming request or allow a transaction or transaction(s) to overdraw your Account, your repeated abuse of the stated limitations, or regular overdrawing your Account, may result in us closing the Account.
After your Lili Card has been activated, you will have access to the Mail a Check feature to make payments by check to vendors, suppliers, or other payees. The feature allows you to request a one-time payment to a payee, store the payee information for future use, and have the check mailed on your behalf. When a one-time check is issued, the funds are promptly withdrawn from your Account. We will process all check requests at 8:00 am, Central Time, on the business day following the date of your request. You may cancel a check request up to this processing time. We work with other partner financial institutions to provide the Mail a Check feature and the name of the institution on the check will not be Sunrise Banks.
Mail a Check is not a traditional checkbook or a bill payment service. It is a service that allows you to request through the Lili App a one-time check to be issued and mailed through a third-party service. Checks are void after 180 days if not cashed, and thereafter the funds will be redeposited to your Account. If your Account has insufficient funds to cover the amount of the check, the check will not be issued.
Stop payments on checks mailed through the service can be requested through Lili’s customer support if the check has not yet been cashed.
Each check mailed is subject to a fee as outlined in the Schedule of Fees. Checks are subject to the limits in the Transaction Limits table, or as otherwise determined by Lili and/or the Bank for risk management purposes.
You must activate your Lili Card in accordance with the instructions provided before it can be used. You will need to provide your personal and card information in order to verify your identity and activate your Lili Card. You must sign the signature strip on the back of the Lili Card as soon as it is received.
When you open a Lili Account, you and your Additional User(s) will also receive access to a digital version of the physical Card, which is represented by the same 16-digit card number, 3-digit card verification value (“CVV”) number and expiration date as the physical Card. The digital version of the Card allows you and your Additional User(s) to access funds in your Lili Account up to the available balance to make online and mobile payment transactions. The use of the digital version of your Card is subject to the terms of this Agreement, including transaction limits, to the same extent as the physical Card. The digital version of the Card is activated automatically upon the opening of your Account and may be used immediately. We reserve the right, in our sole discretion, to limit or deactivate the digital version of the Card for any reason, or for no reason, with or without notice.
Account Owner and Additional User are jointly responsible for all authorized transactions initiated and fees incurred by use of your Lili Card. If you permit another person to have access to your Lili Card or Card number, we will treat this as if you have authorized such use and you will be liable for all transactions and fees incurred
by those persons. Account Owner and Additional User are wholly responsible for the use of each Lili Card according to the terms and conditions of this Agreement. Authorized users may be required to accept additional terms of use prior to activating their Lili Cards.
International transactions made using your Lili Card will be converted to U.S. currency according to the rules and regulations of the card network. The conversion of the currency to U.S. currency may occur on a date other than your original transaction date and fees may be assessed by these networks. You are responsible for the U.S. currency amount plus any fees assessed for the currency conversion. Some services may not be available at international ATM terminals. International ATM transactions may be subject to a fee in accordance with our Schedule of Fees.
If you do not have sufficient funds in your Account, you can instruct the merchant to charge a part of the purchase to the Lili Card and pay the remaining amount with cash or another card. These are called “split transactions.” Some merchants do not allow cardholders to conduct split transactions. Some merchants will only allow you to do a split transaction if you pay the remaining amount in cash. If you fail to inform the merchant that you would like to complete a split transaction prior to swiping your Lili Card, the Card transaction is likely to be declined.
Consistent with the Visa Zero Liability policy, unless you have been negligent or have engaged in fraud, you will not be liable for unauthorized Lili Card transactions that are reported to us promptly. We may impose greater cardholder liability if we determine that the unauthorized transaction was caused by your negligence or fraud, or if you unreasonably delay your report of an unauthorized transaction(s). Zero Liability does not apply to ATM transactions, PIN transactions, and/or transactions not processed by Visa.
You are responsible for all transactions made by any authorized person, such as an Authorized User, even if the amount or transaction exceeds what you may have originally authorized. You must notify us promptly if you wish to remove an Authorized User’s Account or Lili Card access.
We will credit your account provisionally within five (5) business days from receipt of your notification of the unauthorized transaction, unless we determine that additional investigation is warranted and allowed by applicable laws or regulations, so that you have use of the disputed funds during our investigation.
Please see Section 6.3.7 of this Agreement for additional information on unauthorized card transactions and additional risks associated with use of a business purpose debit card.
You will be prompted to assign a 4-digit card PIN for your Lili Card during activation. You may change the PIN at any time by accessing the PIN change process through the mobile app or our automated telephone service.
You will be prompted to establish a password (Login Credentials) during your Account enrollment. Depending on your Lili mobile app settings, you may be required to enter your full password for subsequent logins to the Lili mobile app to view your Account(s), card information, and other Services. Your password may be changed at any time. We encourage all customers to secure their Lili mobile app using advanced security (i.e., facial recognition).
Your Login Credentials and PIN are identification methods that are both personal and confidential. You may be required to use your PIN with your Lili Card at an ATM or merchant terminal. It is a security method by which we help you maintain the security of your Account. Your Login Credentials are another security method that maintains the security of your Account and the transactions you process through the Lili mobile app.
Therefore, you agree to take all reasonable precautions to protect the confidentiality of your Login Credentials, PIN and/or other access devices. Further, you agree that you will not reveal your Login Credentials, PIN, or any other access device, to any person not authorized by you to use your Lili Card; not write your PIN or Login Credentials on your Lili Card or on any item kept with your Lili Card; and not leave your mobile or other device unattended after you have logged on using your Login Credentials.
You agree that your Lili Card remains the property of Sunrise and shall be surrendered upon demand. The Lili Card is non-transferable, and it may be canceled, reposed, or revoked at any time without prior notice subject to applicable law.
If you do not use your Lili Card for an extended period, defined by us as 90 days, or we believe the Card may be lost/stolen or is being used improperly, it may be canceled for security reasons and will be unusable. This may occur without prior notice to you.
If your Lili Card is reissued or reactivated, we may charge you a fee for its reissue/replacement in accordance with our Schedule of Fees.
We offer automated clearing house (ACH) services for our Business Accounts which are implemented consistent with applicable laws and regulations and are considered non-consumer credit and debit entries which are excluded from the Electronic Fund Transfer Act and its implementing rule Regulation E.
This Section provides information that describes your rights and responsibilities regarding electronic fund transfers to or from your Lili Business Account.
Consistent with applicable law, you may use your Lili Card with your PIN to perform most routine transactions on the Accounts that are accessible by your Lili Card, such as to:
Some of the above transactions may not be available at all ATMs or locations.
You shall be obligated to pay us for any transactions made through the authorized use of the Lili Card and/or PIN, to the extent that we are unable to charge such amounts to the Account; and you authorize us to charge the amount of any such obligation to any other of your accounts with us.
Your Lili Card does not permit deposits to be made at ATMs.
You may use your Lili Card to purchase goods and services and/or obtain cash, where permitted by the merchant, anywhere Visa debit cards are accepted; provided, however, that we may decline certain transactions to prevent fraud or money laundering, or for other risk management reasons. The merchant may require your signature instead of your PIN to authorize the purchase request. You may also use your Lili Card with your PIN at any merchant location where ATM cards are accepted to purchase goods, services, and/or obtain cash. The amount of all purchases, including any cash obtained, will be deducted from your checking Account. When you make a purchase through the card network, we may place a hold on the funds in your checking Account in the amount that may be necessary to cover the amount of the transaction. (Please see Preauthorization Holds for additional information.)
If you initiate a transaction without presenting your Lili Card (such as for mail order, internet or telephone purchase, a prefunded check purchase or an ACH debit purchase), the legal effect will be the same as if you used the Lili Card itself.
ACH Funds Transfer Service to linked accounts is an electronic transfer service that enables you to transfer funds from an account at another financial institution to your Account with us, and/or from your Account with us to an account at another financial institution. Prior to use, you are required to register your external bank account for verification and security purposes.
All ACH transactions must match the name on your Account to be accepted. ACH transactions will not be processed and accessible until the Service is activated by us. Funds from these types of deposits will not be available until after the funds have settled.
ACH transfers to third parties (“ACH Standard Delivery”) credits and Same Day ACH transfers (“ACH Express Delivery”) credits may be made available to pay vendors and creditors upon approval.
We will determine whether you are eligible for the ACH Standard Delivery and ACH Express Delivery features at our sole discretion. Limits may be imposed on the dollar amounts. We reserve the right to limit or discontinue availability of ACH debits for your account based on your account history.
ACH Express Delivery transfers requested after 3:00 pm Eastern Time on business days, as defined within this Agreement, will be processed the next business day.
ACH funds transfer services may not be available for all customers and/or Account types. Fees may apply. Please see the full Schedule of Fees.
Frequency-of-use limitations are imposed on Card transactions for security reasons and for the protection of your Account. They are not disclosed for this reason and may be changed at any time. You will be denied the use of your Lili Card if:
The receipt provided by the ATM or merchant terminal will notify you of the denial. There is a limit on the number of such denials permitted, beyond which the machine may retain your Lili Card. The number of attempts that will cause the retention of your Lili Card is also not disclosed for security reasons.
See Section 3.7, Transaction Limits, for daily and monthly limits associated with use of your Lili Card.
When your Lili Card or other network enhancement feature related to the Card is used at a point-of-sale location to obtain goods or services or obtain cash, the merchant may attempt to obtain preauthorization from us for the transaction. We may place a hold on your Account for the amount of the preauthorization request for a duration based on the vendor type. This can range from 2 days to 30 days and may vary in some cases from the amount of the actual purchase, depending on the merchant’s request. If the preauthorization request varies from the amount of the actual transaction, payment of the transaction may not remove the hold, which will remain on the Account until the end of the hold period. This hold may affect the availability of funds from your checking Account to pay checks or for other electronic fund transfers. We will not be responsible for damages for wrongful dishonor of any items that are not paid because of the hold.
You may arrange to have certain recurring payments automatically deposited (credited) to your Account. Examples of this service include the direct deposit of any government payments such as tax refunds and direct deposit of recurring payments you receive from any source.
You may arrange to have certain recurring withdrawals automatically paid (debited) from your Account. For example, you may arrange to have insurance premiums paid automatically.
You may get a receipt at the time you make any transfer to or from your Account using an ATM or point-of-sale device. We are not responsible for the furnishing of receipts. Please contact the merchant should you not receive a receipt.
If you have arranged to have direct deposits made to your Account at least once every 60 days from the same
person or company, the person or company making the deposit will tell you every time they send us the money.
You will get a monthly Account statement in App (unless there are no transfers in a particular month, in which case you will get the statement at least quarterly).
If you want to permanently revoke an ACH you authorized from a third party, you must instruct the originating third party to cancel your ACH transfer.
If you have authorized regular payments out of your Account, you can stop any of these payments by notifying Customer Service by telephone or email. If you notify us by telephone, you may be required to confirm the information provided by writing to us at [email protected].
Your request must include your Account number, the name of the payee, the amount of the item to be stopped, and the date payment was scheduled to be made. This request needs to be received by us three (3) or more business days before the payment is scheduled to be made. If your request is by telephone or email, we may also require you to put your request in writing and ensure that it is received by us within 14 days after your call or email.
You are subject to the general rules of Stop Payment Liability included below.
If you request that we stop payment on any preauthorized transfer according to the requirements above and we fail to do so, we will be liable for your proven loss or damages, unless:
You failed to give us enough information, proper instructions, or sufficient time to act on the stop payment; or
We do not receive written confirmation of your telephone or email request to stop payment within 14 calendar days, and the preauthorized transfer occurs after the 14 calendar days.
In any case, we will only be liable for actual proven damages if the failure to stop payment on your transaction resulted from a bona fide error on our part, despite our procedures to avoid such errors. If we pay a preauthorized transfer despite your valid and timely stop order request, we may re-credit your Account. If we do this, you will sign a statement describing the dispute with the payee. You agree to transfer to us all of your rights against the payee. In addition, you will assist us in any legal action taken against the payee.
Additionally, if you want to permanently revoke a recurring preauthorized electronic transfer, you must instruct the originating third party to cancel your preauthorized transfer. We may ask you to provide us with a copy of your letter to the originating third party and sign an Affidavit revoking authorization.
We will disclose information about your Account or the transactions you make to third parties:
If we fail to complete an electronic fund transfer on time or in the correct amount when properly instructed by you, we will be liable for damages caused by our failure unless:
In any case, we will only be liable for actual proven damages if the failure to make the transaction resulted from an honest error despite our procedures to avoid such errors.
You will not have the benefit of any consumer law limiting liability with respect to the unauthorized use of your Lili Card. This means your liability for unauthorized use of your Lili Card could be greater than the liability in a consumer debit card. You accept and agree to undertake the additional risk and greater measure of liability associated with the use of a business purpose Account and business purpose Cards as described in this Agreement.
You are liable for Card transactions you do not authorize if we can prove that we processed the transaction in good faith and in compliance with commercially reasonable security procedures to which we both agreed, unless otherwise required by law. Tell us immediately if you believe your Lili Card and/or PIN has been lost or stolen, or if you believe that an electronic fund transfer has been made using your Lili Card without your permission. Contacting us immediately by phone or email is the best way to keep your potential losses down. You could lose all the money in your Account!
Also, if your statement shows transactions you did not make with your Lili Card, including those made by Card, code, or other electronic means, tell us at once. If you do not tell us within thirty (30) days after your Account statement is made available to you, you may not get back any money you lost after the thirty (30) days. If you do not notify us within thirty (30) days from when the periodic statement containing an unauthorized transaction was first made available to you on the Lili website or in your App, we will be entitled to treat the information in the periodic statement as correct, and you will be precluded from asserting otherwise, unless a longer period is provided by federal or state law or Visa rules for transactions made over the Visa network.
In case of errors or questions about your electronic fund transfers, you agree to promptly contact Customer Service by email at [email protected]. You may be required to confirm the information in writing within ten (10) business days. In these cases, we will advise you accordingly, provide you the necessary forms for confirming your dispute in writing, and give you instructions for sending us the signed form.
If you believe an electronic fund transfer transaction was processed in error or was unauthorized, or if you need more information about a transfer listed on your statement , you must contact us no later than thirty (30) days after the monthly statement was made available to you on the Lili website or App, unless a longer period is provided by federal or state law or Visa rules for transactions made over the Visa network.
In your communication with us, please provide the following information:
If you provide us with timely notice of an error or problem in your periodic statement, we will investigate the matter and notify you of the results as soon as reasonably possible under the circumstances. You must provide us with your name, the account number and Card number, a description of the applicable transaction; the reason you believe the transaction is in error, the dollar amount of the suspected error and the date it appeared on your bank statement or receipt. You agree to assist us in the investigation and prosecution of claims for unauthorized transactions by completing the appropriate statements and reports reasonably requested by us. If you fail to give us the required notice, we will not be liable to you for any loss of interest or for any other compensation relating to the unauthorized or erroneous debit to your Account or because of any other discrepancy in the Account statement. Furthermore, in no event will we be liable to you or any other person or entity for any consequential, special or incidental damages relating to any unauthorized or erroneously executed fund transfer request.
You will pay any applicable fees and charges we assess for your Card services and/or other electronic fund transfer Services that you select. Applicable fees will be deducted from your Account and listed on your Account statement. These charges and fees are assessed in accordance with our Schedule of Fees.
If you do not use the MoneyPass ATM network, we may charge a fee to use your Card at an ATM within the United States or internationally to make a point-of-sale purchase in accordance with our Schedule of Fees.
You may be charged a foreign transaction fee for point-of-sale purchases made internationally. The terminal owner may also charge you a fee for use of their ATM. You may, however, be assessed a fee by the card association, for example, Visa, for using your Lili Card at an ATM or making a point-of-sale purchase.
You acknowledge that we have given you notice that any credit we give you with respect to a fund transfer is provisional until we receive a final settlement for that entry. If we do not receive a final settlement, you agree that we are entitled to a refund of the amount credited to your Account in connection with such entry. In such an event, the person who sent the fund transfer is not deemed to have paid you such an amount.
You acknowledge that we will not give you next day notice of receipt of an ACH item. Instead, we will notify you of the receipt of payments in your periodic account statements. When we credit your Business Account for electronic payments (such as bill payments) that we receive from one of your clients, you are obligated to apply those payments to an account of that client. If you fail to do so, you agree to promptly return the payment to us.
You acknowledge that if, in connection with your Business Account, you request us to transmit an ACH return transaction, for example, in connection with any claim of erroneous or unauthorized transaction, that the originating depository financial institution has no obligation to accept that return transaction if the return request is not made within the applicable time frame set forth in the National Automated Clearing House Association (NACHA) Operating Rules. We will attempt to pursue your return request with the originating depository financial institution as long as you report the problem to us in writing within one (1) business day of the unauthorized activity; however, we do not guarantee that we will be able to recover your funds if you notify us of the problem after expiration of the NACHA time frame. In some cases, depending on the facts, your claim may not be honored, and you may incur a loss. We, therefore, recommend that you review your account activity daily.
By using the ACH Funds Transfer Service, you are certifying that the registered external accounts owned by you that you transfer funds to and from, and the debit or credit cards used to transfer from are under the same ownership as the Account with us. If the accounts are not titled the same or ownership among the transferring accounts changes, the funds will be returned to the sender.
You will indemnify us for any losses incurred as a result of any transaction you initiate between these accounts that is later returned or is reported unauthorized, and if you initiate a transfer that is found to be unverifiable or is unable to be completed for other reasons, you agree to hold us harmless for any loss resulting from the incomplete transfer. If a transfer is made from a third-party’s account or registered as an external deposit account before we detect it, we may, without notice to you, place those funds on hold and debit your Account, and return the funds to the third party’s account in the form of a bank check or funds transfer, once we have confirmed the funds cleared the external account.
If you use the ACH Funds Transfer Service to transfer funds to or from an account that has multiple owners, you agree that each owner authorizes the others to (a) initiate the transfer of funds between accounts; (b) register any external bank account or credit card; and (c) initiate the transfer of funds between your Account(s) with us and any registered external bank account or credit card. This authority will cease only after we have
received and have been given a reasonable amount of time to act on the appropriate documentation needed to change or remove the Owner from the Account. Each Account Owner agrees to be jointly and severally liable to us for any losses incurred as a result of the improper use of this Service up to and including the transfer amount, any applicable fees and any legal expenses. Your funds transfer request will only be completed if you have sufficient funds in the account from which you wish to transfer funds and the accounts are linked for transfer capabilities. Funds transfer transactions are subject to dollar amount limitations, which are determined by us and may be set according to your Account type and/or the type of ACH Funds Transfer Service you are using. These limitations are set for security reasons and are not disclosed for that reason.
We reserve the right to limit the number of external accounts that can be linked to your Account for purposes of transferring funds; to limit functionality of the Funds Transfer service by imposing limits, holds, or other measures; and to close your Account if unlawful activity is found or suspected.
The ACH Funds Transfer Services through linked accounts may be subject to fees in accordance with our Schedule of Fees. This Service may not be available for all customers and/or Account types.
You may have access to the following other types of ACH funds transfers subject to transfer limits specified in Section 3.7, Transaction Limits:
The ACH funds transfer services may be subject to fees in accordance with our Schedule of Fees. These services may not be available for all customers and/or Account types.
The Uniform Commercial Code (”UCC”) Article 4A includes provisions relating to wire transfers. A Wire Transfer is an electronic transfer of funds (“funds transfer”) via a network that is administered by banks and transfer service agencies. A funds transfer is the process by which a payment order is processed leading to payment to a beneficiary. The payment order, or wire transfer instructions, provides the information necessary to transfer the funds to a beneficiary, who is the person or business designated to receive the funds in the payment order.
Lili is not a licensed money transmitter, and therefore partners with Column Bank N.A. (“Column”), Member FDIC, for wire transfer services to the accounts it services on behalf of Sunrise. You hereby authorize us to honor and apply any and all funds transfers received by Column to your Account, subject to risk-based standards that are at our discretion.
The Account Owner or Additional User may receive domestic incoming wires subject to fees and limitations documented in this Terms and Conditions document which are routed to Column using the routing number of 121145307. New customers may not have access to receive domestic incoming wire transfers for the first 30 days. Wire transfers will not be deposited into the Lili App Account from any other source. Column Bank N.A. will refuse to process incoming foreign wires. The ability to receive domestic incoming wires may be terminated at any time. Outgoing wires are not available for customers of the Lili App at this time.
You may send domestic outgoing wire transfers subject to the fees and limitations in this Agreement. New customers may be restricted from sending outgoing wire transfers for the first thirty (30) days. Column will not process outgoing foreign wire transfers. We reserve the right to terminate your ability to send domestic outgoing wire transfers at any time, for any reason. By submitting an outgoing wire transfer request to us, you authorize us to deduct funds from your Account sufficient to cover the amount of the outgoing wire transfer. You acknowledge that we may, in our sole discretion, clear and settle any wire transfer through one or more intermediary banks. You understand and agree that the funds will be transferred by us to Column for purposes of clearing and settling the outgoing wire transfer.
We will process an outgoing wire request only if it complies with our security and verification procedures, including appropriate regulatory compliance and sanctions screening requirements for wire recipients and beneficiaries. Our procedures include the timing for sending outgoing domestic wire transfers and cut-off times. You understand and acknowledge that you must provide the accurate routing or other relevant numbers of the recipient’s financial institution and the beneficiary’s account number, or the wire transfer may be delayed or canceled. You also understand and acknowledge that we may rely solely upon the routing and account numbers or similar identifying numbers provided in the wire transfer requests to identify (a) the beneficiary and (b) the Account. We are authorized to immediately deduct funds from your Account for any domestic outgoing wire transfer request using such account/routing/transit number or similar identifying numbers. We are not responsible for any loss or damage you incur from your request for a wire transfer.
You understand and acknowledge that wire transfer requests may not be recalled or amended once they have been sent to us. Wire transfer requests will only be accepted and processed if you have sufficient and available funds in your Account at the time the request is received and processed. We reserve the right to reject or cancel any wire transfer at our sole discretion, and we will not be held liable for any losses or damages that may arise due to our right to cancel or reject the wire transfer. We also reserve the right to review wire transfer requests for risk management purposes and to comply with anti-money laundering regulations. Such reviews may delay your wire transfer.
A domestic incoming wire will be deposited only if it complies with our security and verification procedures. All wire transfer requests must conform to our requirements, which may be amended from time to time. The procedures include the method for receiving incoming domestic wire transfers and cut-off times. You understand the accuracy of the account/routing/transit number associated with a financial institution (“FI”) and the account number of a wire transfer recipient, i.e., the beneficiary, is critical. Owner acknowledges and agrees we may rely solely upon the account/routing/transit number or similar identifying number provided in the wire transfer instructions to identify (a) the beneficiary and (b) the Account. We are authorized to deposit to Account any domestic incoming wire transfer received using such account/routing/transit number or similar identifying numbers. If there is a discrepancy in payment order regarding the beneficiary or the FI and such beneficiary’s account/routing/transit or similarly identifying number, we will make the deposit on the basis of such identifying number, even if it results in a beneficiary or FI other than the one designated by the you to be paid.
Transaction limits for wires are documented in Section 3.7, Transaction Limits. Fees for wires are documented in Section 8.1, Fees.
Wires will be processed between 8:00 am and 4:00 pm Eastern Time on business days, as defined within this Agreement.
By using our wire transfer services, you represent that (a) you are not located in a country that is subject to U.S. government sanctions, including without limitation, the Crimea region of Ukraine, Cuba, Iran, North Korea, or Syria, or other jurisdiction subject to U.S. sanctions; (b) you are not a person, group or entity that has been designated by the U.S. government as a Specially Designated National (SDN) or in a “terrorist supporting” country; (c) you are authorized under U.S. federal, state and local laws to conduct financial transactions with Lili; (d) you are not subject to sanctions by the U. S. Department of the Treasury, Office of Foreign Assets Control (OFAC); and (e) you will not use the Account or any services provided to facilitate payments, either directly or indirectly, to a sanctioned country, person, group or entity. We vigorously enforce laws and regulations promulgated by OFAC and, in accordance with OFAC rules, we reserve the right to: (i) check the names of current and new Account owners and Additional Users against OFAC’s database, and (ii) block and/or reject transactions until we are satisfied that you and any wire transfer recipient are not subject to OFAC sanctions.
Unless you have entered into a separate agreement with us regarding the use of our fund transfer services, the following special rules apply to any fund transfers you send or receive through us in connection with any Business Accounts that are not electronic funds transfers subject to the Electronic Funds Transfer Act or Regulation E. While these special rules apply to ACH fund transfers that you receive, you may not send ACH fund transfers through us unless you have been approved to do so. We may charge fees for sending or receiving a fund transfer and may deduct those fees from your Account or from the amount of the fund transfer as indicated in our Schedule of Fees. The terms used in this Section have the meanings set forth in Article 4A of the Uniform Commercial Code.
If you wish to close your Account with us, you agree to withdraw all funds from your Account, and we may require you to notify us of this intention in writing. After an Account is closed, we have no obligation to accept deposits or pay outstanding items but may do so at our discretion. You agree to hold us harmless for refusing to honor any item on a closed Account. If funds remain in the Account after you have notified us of your intent to close your Account, we will require you to submit your request to us in writing and we will return any remaining funds to you; provided, however, that we will not return funds less than $5.00 due to our administrative costs in returning such funds.
Lili reserves the right to close your Account for any reason, with or without notice. If Lili closes your Account, we will return any remaining funds of $5.00 or more to you, unless we are notified of fraud or wrongful conduct.
All related transactions and closing fees will be deducted from the final balance.
If you have moved outside of the United States or have frequent international transactions, you may be contacted about the international activity in your Account and for further verification of your address. If you are moving, traveling, or will be temporarily residing overseas, we recommend you contact us to prevent any disruption in your Account activity. Your Account may be closed if you will not be returning to the United States, are residing outside the United States for extended periods of time or have not notified us of your extended travel.
We may close any Account that has had no Card or other transaction activity or had a zero balance for six (6) continuous months at our discretion.
Any Account with a balance which has no customer-initiated activity for twelve continuous months may be considered inactive or dormant under applicable state unclaimed property law and will be frozen. Customer initiated activity includes any transfers between Accounts, Online Transfers, ACH transfers initiated from outside, Mobile Deposits, logging into the App, or service calls.
As prescribed by state law, the funds in any dormant Account will be transferred to the appropriate state as applicable under state unclaimed property laws when required.
If the Account becomes inactive or dormant, the Account will continue to be subject to any service charges in accordance with our Schedule of Fees. If an Account becomes inactive, we will notify you with specific instructions on how to restore the Account to an active status without the need to make any transactions.
We may continue to honor any items submitted until (a) we know of the fact of your death or of a legal determination of incompetence or incapacitation and (b) we have had a reasonable opportunity to act on that knowledge. You agree that, even if we have knowledge of your death, we may pay on items drawn on or before the date of death for up to ten (10) days after that date, unless ordered to stop payment by someone claiming an interest in the Account. We may require additional documentation to confirm any claims made on the Account. We do not support Trust accounts, Conservatorships, or Power of Attorney authorizations at this point in time.
If your Account becomes subject to legal action, such as a tax levy or third-party garnishment, we reserve the right to refuse to pay any money from your Account, including checks or other items presented for payment, until the action is resolved. If we are required to pay an attachment, garnishment, or tax levy, we are not liable to you. Payment is made after satisfying any fees, charges or other debts owed to us. You agree that you are responsible for any expenses, including legal expenses and fees we incur due to a garnishment, levy, or attachment on your Account. We may charge these expenses to your Account. Until we receive the appropriate court documents, we may continue to process transactions against your Account, even if we have received an unofficial notification of an adverse claim. You will indemnify us for any losses if we do this.
Fees are charged in accordance with our fees outlined in our Schedule of Fees and in Section 3.6 Monthly Account Fees. If we assess a fee for any other Service or make a change to our Schedule of Fees or our Monthly Account Fees, we will let you know in advance.
To the extent you access your Account or the Services through a mobile device, your wireless service carrier’s charges, data rates, and other fees may apply.
The Schedule of Fees applies to all Lili Account Types, except where indicated. Please see Section 3.6, Monthly Account Fees for monthly fees for each Account offered.
| Transaction Activity & Fee Description (as it appears on the periodic statement) | Fee |
|---|---|
| ATM Transaction Fee – MoneyPass Network | $0.00 |
| ATM Transaction Fee – Non MoneyPass Network (Domestic) Out-of-Network ATM Fee | $2.50* *surcharge fees may be applied by the ATM owner |
| ATM Transaction Fee – International ATM International ATM Fee | $5.00* *surcharge fees may be applied by the ATM owner |
| Bill Pay Services | $0.00 |
| Card Replacement Fee | $0.00 |
| Deposited Check Returned Item Fee | $0.00 |
| Dormant Account Fee | $0.00 |
| Express Mail Fee Express mail fee | $20.00 |
| Funds Transfer Fee – ACH Standard Delivery | $0.00 |
| Funds Transfer Fee – ACH Express Delivery ACH Express Fee | 1.50% of ACH transaction Minimum: $ 0.50 Maximum: $20.00 |
| International Debit Transaction Fee | $0.00 |
| Overdraft Fee | $0.00 |
| Returned Item Fee (Electronic Funds Transfer) | $0.00 |
| Stop Payment Fee | $0.00 |
| Wire Fee-Domestic Incoming Wire Fee-Domestic Outgoing Wire Fee | $0.00 $15.00 |
| Mail a Check Fee Manual Check Fee | $3.00 per check |
To ensure a more valuable experience with us, we use Plaid Technologies, Inc. (“Plaid”) to gather your data from external financial institutions you connect via the Lili mobile app. By using our Services, you grant us and Plaid the right, power, and authority to act on your behalf to access and transmit your personal and financial information from the relevant financial institution. You agree to your personal and financial information being transferred, stored, and processed by Plaid in accordance with the Plaid Privacy Policy.
Visa SavingsEdge awards are available for all plans except the Lili Basic Plan. Eligible customers must visit the Visa SavingsEdge website at www.visasavingsedge.com to enroll in the program. By accepting this Agreement, you also accept the Visa SavingsEdge Terms and Conditions.
This agreement is governed by and interpreted according to federal law and the state where you are located. If state and federal laws are inconsistent, or if state law is preempted by federal law, federal law governs.
If you owe us any amount, you give us a security interest in your Account. You also give us the right, to the extent not prohibited by law, to set off against your funds to pay the amount owed to us. You agree that the security interest you have given us is consensual and is in addition to our right to set off. If we exercise our right to set off, we will notify you to the extent required by law.
If any provision of this Agreement is found unenforceable, then that provision will be severed from this Agreement and not affect the validity and enforceability of any remaining provisions.
If an arbitrator or court finds any provision to be invalid, you and we agree that the arbitrator or court should give valid effect to the intention of that provision, and that the remainder of the Agreement remain in full force and effect.
We want to hear your comments, concerns, suggestions, or questions. Please contact us by email at [email protected] or by phone at 855-545-4380.
You agree that you must not use the Lili Card or Account for any illegal transactions, including illegal internet gambling or similar activities.
We will communicate with you using electronic means. When you click or tap the “I Agree” button:
When we send an electronic communication, including a Legal Disclosure, it may come in the form of an update to our website or within the Lili mobile app; as an email, text, or communication on social media; as a notification on mobile, tablet, or wearable devices; or through other electronic means. We will not communicate to you via social media about your specific Lili Account, and we ask that you never communicate personally identifying information to us via social media. If you have a question or concern about your account, you should contact Lili Customer Support at [email protected]. When you sign up for an Account, we will request your email address and mobile telephone number. We request this information in order to send you security confirmation text messages and information about your Account and the Services. By clicking or tapping the “I agree”, “ I accept”, “I consent” or similar language , you consent and agree to accept and receive communications, including Legal Disclosures, from us, including via email, text message, calls and push notification to the email address or mobile telephone number you provide us. As part of this consent, we, or someone on our behalf, may send you communications generated by automatic telephone dialing systems and/or deliver pre-recorded messages that include (i) security confirmation messages; (ii) communications about your Account (such as transfers you requested or received); (iii) communications about use and updates to our Services; and (iv) other information concerning your Account and our Services. We do not charge you when we communicate with you via text message, but your phone carrier may apply standard text messaging charges and data rates.
In order to receive electronic communications, including Legal Disclosures, you must have:
You may obtain paper copies of any legal disclosure or this agreement by printing it yourself from your Lili App or Lili website, when available, using the browser and print tools available from your device provider.
If you would like to withdraw your consent, you can tell us at any time by emailing [email protected]. Once you withdraw your consent, we will no longer send you copies of any legal disclosure. Also, please be aware that once you withdraw consent, we may, but are not obligated to close your Account.
This Agreement can be printed and saved for your records from your own device.
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted.
Wire Transfer service provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.
1 Eligibility for cashback awards is available to Lili Pro, Lili Smart, and Lili Premium account holders only; applicable monthly account fees apply. For details, please refer to your Sunrise Banks Account Agreement.
2 Accounting, tax preparation and invoicing software is available to Lili Smart and Lili Premium account holders only; applicable monthly account fees apply. For details, please refer to your Sunrise Banks Account Agreement.
3 The Annual Percentage Yield (“APY”) for the Lili Savings Account is variable and may change at any time. The disclosed APY is effective as of October 1, 2024. Must have at least $0.01 in savings to earn interest. The APY applies to balances of up to and including $100,000. Any portions of a balance over $100,000 will not earn interest or have a yield. Available to Lili Pro, Lili Smart, and Lili Premium account holders only; applicable monthly account fees apply.
4 BalanceUp is a discretionary overdraft program for debit card purchases only, offered for Lili Pro, Lili Smart, and Lili Premium Account holders; applicable monthly account fees apply. You must meet eligibility requirements and enroll in the program. Once enrolled, your Account must remain in good standing with a deposit and spending history that meets our discretionary requirements to maintain access to the feature. BalanceUp overdraft limits of $20-$200 are provided at our sole discretion, and may be revoked any time, with or without notice. Please refer to our BalanceUP Service Disclosure for more details.
5 Early access to ACH transfer funds depends on the timing of the payer’s submission of transfers. Lili will generally post these transfers on the day they are received which can be up to 2 days earlier than the payer’s scheduled payment date.
6 Up to $1,000 per cardholder per 24 hours period. Some locations have lower limits and retailer fees may vary ($4.95 max). Note that Lili does not charge transaction fees.
7 Lili AI and other reports related to income and expenses provided by Lili can be used to assist with your accounting. Final categorization of income and expenses for tax purposes is your responsibility. Lili is not a tax preparer and does not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your specific situation.
8 Lili does not charge debit card fees related to foreign transactions, in-network ATM usage, or card inactivity, or require a minimum balance. The Lili Visa® Debit Card is included in all account plans, and remains fee-free with the Lili Basic plan. Applicable monthly account fees apply for the Lili Pro, Lili Smart, and Lili Premium plans. For details, please refer to your Sunrise Banks Account Agreement.
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