Lili Banking for Your Business

Name: Lili Banking for Your Business
Rating: 4.70015 (5296 reviews)

Finance

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Lili Banking for Your Business

Finance

4.7

5.3K ratings

Age Rating

Seller

Lili Financial Services LTD

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User Reviews for Lili Banking for Your Business

Lili business checking app.

This bank account is awesome for the small business owner. All the way through the spectrum from using it solely for cash jobs or little side projects all the way to running a full on legitimate business above the table. It takes all the guessing and any extra work at all related to keeping track of cash flow, receipts and expenses that are tax write offs at the end of the year. Before I had this app I would say that I missed over half of the expenses and sadly receipts that I was able to use as write offs during tax time, because I was either too lazy, lost track or the receipt itself or was just too busy to stop an file things properly. Now it is done for me as I make the purchase, a copy of the receipt if filed with it and I don’t miss a thing! I could go on and on about how amazingly useful this app is but I think you should find out for yourself? You won’t regret it! It is a great account that keeps you posted on news that will help your business grow and anything else you could possibly need in order to keep everything organized and running smooth! Check it out? It will help for sure! Especially if you do not enjoy paperwork like me. I greatly dislike paperwork and now have much less to keep up on

Brainstorm83, May 24, 2021

Hope you like not being able to access your $$$

Had no trouble connecting an external account in order to open/deposit funds into my lili account and I was very happy with lili for the first 2 months. Then when I went to transfer money out of my lili acct to the same external acct it refused to connect. I got so frustrated with their less than helpful customer service (“oh that isn’t one of the banks lili can connect to” “then why is it on your list and how was I able to connect to it before???”) I decided to close my account. Except I still couldn’t use an ach to remove my funds. My only options were to do daily atm withdrawals until the account was drained (with a $200 daily limit this would’ve taken way too long) or spend the money via my debit card (No thanks). So I just kept trying to link to the external acct every day and FINALLY (on day 6? 7?) it connected. There’s a limit on ACHs so I still can’t close my account but at least I was able to move some of it to a safer bank that won’t hold it hostage. Hopefully when I go back to transfer more it lets me. I can forgive technical glitches. That’s life. But terrible customer support on top of it? Not when we’re talking about access to my money. I wouldn’t recommend lili to anyone.

d1234@#$, Nov 25, 2021

Do not use Lili they will steal your money

I transferred 100 dollars from my husbands account to mine so I can start using what I thought would be a good freelancer account.Well little to my knowledge you can not transfer money from another account that is not in your name. Ok no problem. But there was a problem, they took the 100 dollars out of my husbands account immediately and never gave me the funds into my Lili account neither did they put the money back in my husbands account. So trying to figure out what was going on I called Lili customer service number and was told three different things by three different representatives which neither of them could help me recover my funds. Now I’m in the process with my husbands bank on disputing the funds transfer so that I can retract the disbursement by an attempt to get my husbands money back to him. Hopefully they do not dispute the dispute. We will see but overall I can not trust a company with my money who is going to act like there is nothing they can do fir you when they take your money and it disappears in thin air. Do not use them if you have a discrepancy they will NOT resolve it for you. You will be left to figure it out for yourself. To make matters worse the lady representative I spoke with had a serious attitude with me like I stole her money. Just don’t use Lili. I recommend Chime and Varo. I have never had a problem with them helping me or them taking my money

danielle harriz, Nov 24, 2020

So far service has been outstanding!

Either through a phone call or the chat box my inquiries have been answered and explained so that I know exactly what’s going on in my acct. I find the Lili app so easy and instead of feeling like I’m guessing I know what and where I’m sending funds. I like feeling confident and your app really is user friendly as is your customer service Dept! Keep up the Outstanding work it really shows. I recently went into a brick and mortar bank to cash a check written on their bank and they said they would mot cash the check unless m opened an acct. I don’t know if anybody else finds that crazy ..? They can see the funds it’s one of their very own checks acct and their customer but they would not honor the check said the amt was too high!!! The local check cashing place could cover it so it wasn’t that at all. When the manager said unless you open an acct I said if I was going to open an acct it certainly would not be at this bank. Over my dead body…. Strong arming people into opening up accts so they can treat you poorly and charge me a fee for everything!! No thanks!

desait11, Jun 30, 2021

This is a “No Brainer” !!

I have had lot of cards for my small little dog breeding business I have at my home & all of them have the ridiculous fees for every little thing I would do (atm ,extremely high transfer cost monthly fees ) ! I read about Lili on a social media site. Ad looked good so I clicked the link and read up on this “new banking” for gig band freelance workers & realized that is me !!! So I read the fees and monthly cost 00 for what I need it for!!!! I was shocked ! Ok too good to be true ?? Nope I now have had my cute Lili card , been banking with them now for couple months ! I can’t tell u enough how easy this app is to use ! My income can deposit immediately into my Lilli from my cash App or PayPal (customers pay these two ways ) I can then separate my income into work or life and my expenses are the same !!! So so easy !!! I am looking forward to a long relationship with Lilli Bank and recommend it to u as well !! Next for me a cute designer debit card with dogs on it ❤️Maybe this year :-) Thank u Lilli for making my life a little easier!! Morgan

Jinxie DR, Jan 18, 2021

They a HORRIBLE at handling disputes

I’ve been using Lili for about 7 months and had made an online purchase when I made the payment and the money was taken from my account, I was charged an additional 2 more times and the merchant canceled my order and I never received a refund. I’ve had one conversation with a customer service rep from lilli and was told that I was going to take a long time for me to get my money back and that I need to reach out to the merchant to get them to release the funds. So I call the customer service rep from the merchant and was told that my financial institution (lilli) was holding the funds and that they never received the payment. So I then I began corresponding with lilli customer service through email. Lilli requested that I give details of the transaction which I corresponded every bit of information I had including screenshots of the receipt and the canceled order email with the bank statement showing my card was charged and was told it would take 10 business days for me to receive credit for my dispute. When I reached out afterwards the ten days to check on the progress of my dispute, they told me that needed more information which really feels like they are blowing smoke. This has been a terrible experience and I will be looking for other business options for banking.

listenandvibe, Jul 14, 2021

Comparable to Chime - better then “Prepaid Debits” !!!

I’ve Been using “Chime” for about 9 months and love it and just got my “Lili” card in the mail. Immediately it linked to my Apple Pay and was able to deposit. Something chime is unable to do. Chime will let you deposit but not instantly takes 2-3 Business days. But lili went instantly so I’m very happy about that! Used it at a couple stores and was able to itemize what I bought into categories, since I own a business it’ll be extremely helpful to instantly be able to see when I spent things personally vs for the company! A definite plus! So far I’m extremely happy, can’t complain! To top it off there covered and backed by a bigger bank so your money is absolutely insured up to $250,000!! That’s awesome, that’s just like any normal bank... WITHOUT the headache of going into a bank and giving them this and that info sitting and waiting for a half hour, talking to someone, waiting for your debit to print and an hour later you Can finally leave with your account. So I can honestly say I 100% (so far .. will update in a month) would recommend this card to anyone. Especially just to have another account for savings or personal spending! Grab yours now!

mkkieb, May 11, 2021

find a different bank

This “banking” app is supposed to be convenient and out of all of the banking apps I’ve ever had, this is the most troublesome. I tried to access the app this morning, it’s not working. I try to pay business expenses by using the card and the card is declined despite having funds. I called customer service, they see it’s because other institutions don’t recognize them as bank sometimes and that I have to call them for access. I can’t link to other banks or banking apps for external transfers like PayPal because “Lili” isn’t a real bank that is recognized by them or my other banks. Other banking institutions literally bar them from access to their accounts. I thought maybe I could order checks, but Lili doesn’t do checks. So I can’t get money in without difficulty and I can’t get money out without difficulty. Also, I can’t send invoices from the app like it promises either, which is the main reason I got it. So I’m using my old booking software. If it were easy, I’d clear out my account, but the only way I could would be to withdraw funds right now would be through an ATM. Don’t put your money here. Never mind the fact that I pay $4.99 a month for all of this inaccessibility to my own business account.

Oni-Ha, Jun 02, 2022

Support is severely lacking due to policy

Some money was deposited into my account over 3 weeks ago but was paid to my LLC and not to my name due to a simple oversight (probably easy to make in the freelancing world with how easy it is to create an LLC). I have been told for 23 days now that my situation would be resolved within 2 days. I have supplied documentation but it is of no use since Lili doesn’t support payments to your LLC yet. However, now I can’t close my account and this money has been held for over 3 weeks all the while promising a “quick resolution”. Numerous calls have left me speaking to nice and kind people (hat tip to Carlos and Ron) but they simply can’t help due to company policy as it is not their department holding up payment. They can’t forward me to someone in the Risk department. I have been trying to speak to a supervisor for a week now and I am just told they will call back when able. I have been told via email I will receive a call within 3 hours only to have a whole business day lapse and me have to call them because I never heard from Lili. No one can help because the policy won’t allow them to help and they aren’t allowed to forward me to the department who can. I’m sure this bank may be great as long as things are good. However, if you ever need to talk to someone or have a problem like being paid to your LLC instead of yourself, you might as well just pray and hope as that is about your only option.

Pfern, Jun 09, 2021

DO NOT BELIEVE POSITIVE REVIEWS THIS COMPANY IS A SCAM

I tried to open an account, went though the arduous process. At the end the app told me that due to ”forces behind their control the account can’t be opened” But didn’t tell me why (which is a violation of the Fair Credit Reporting Act btw) Contacted customer service at least 10 times to try to get it figured out. I received nothing but generic automated messages, days after emailing them. Try to log in it says an account with my phone number is already in use. Try to reach customer service it says “no account with this number is detected” (ok….) So….complete, total waste of time, and illegal. Pretty sure they just farmed me for my info. Thanks a lot. I wouldn’t need apps like this if I wasn’t already struggling with money so thanks Lili for not only stressing me out on top of it for several days trying to figure it out. (AND BTW TO “SUPPORT”: PLEASE DONT WASTE YOUR TIME POSTING SOMETHING ABOUT HOW YOU TRIED TO RESOLVE MY ISSUE JUST TO TRY TO SAVE FACE ON THE APPSTORE. You did not. And if you say to reach out to support for help I will probably have a hernia laughing. I will be contacting the proper channels about the FCRA violation. When you deny someone an account or credit you HAVE to tell them why and give them recourse to fix it. Sort of feel like maybe it was discrimination? Just don’t….)

Tonecard, Aug 30, 2021

Description

Named one of the 50 Most Innovative Companies in the World 2022 by FastCompany, Lili brings you banking designed for your business. By combining a checking account with technology to save on taxes and accounting software, Lili is an all-in-one mobile banking app designed to save time, money and energy for anyone who runs a business on their own. Only available for Sole Proprietors and Single-Member LLCs eligible.

Lili is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC CHECKING ACCOUNT - Visa Business Debit Card - Business Cashback Rewards* - No minimum deposit required - No hidden fees - 1.00% APY on Savings* - Fee-Free Overdraft up to $200* - Connect to all your marketplaces and get paid up to 2 days earlier - Mobile Check Deposit - Cash Deposit at 90k participating retailers - Fee-Free ATM withdrawals at 38k locations TAX OPTIMIZER TOOLS - Write-Off Tracker - Tax Bucket - Estimated Taxes Calculator - Schedule C Generator* DIY ACCOUNTING - Built-in invoicing software* - Scan & Save your receipts - Automatically generated quarterly business reports - Transaction Categorization LILI ACADEMY - Full library of tips, tricks and resources - Exclusive webinars and community events - Promos and discounts from our partners - Curated newsletter and business-related content *Only available with Lili Pro ** The Annual Percentage Yield (“APY”) for the Lili Savings Account is variable and may change at any time.