Lili is a mobile-first checking account, FDIC-insured through their partner bank, Choice Financial, that works the way freelancers do - flexibly. Your account is managed through the Lili app and comes with a Visa Business Debit Card that can be used for free at more than 38,000 ATMs across the country.
With no monthly fees and no minimum balance requirement, Lili lets you keep every penny you earn.
And when you set up direct deposit payments into your Lili account, you can access your money up to 2 days earlier than with a traditional bank.
Rather than keeping track of separate business and personal accounts, Lili's smart tools do it all from one account. Use your Lili debit card for everything you do, then swipe in the app to let them know which expenses are personal and which are business-related. At the end of each quarter, you'll get an auto-generated expense report for your freelance business.
Saving for a rainy day? Set up an Emergency Bucket and your Lili account will set aside as little as $1 a day so the cash is there when you really need it.
Lili's Tax Bucket feature can automatically set aside a percentage of your income as it comes in so you're never caught off-guard when tax time rolls around. Just let Lili know how much to save, then dip into the bucket when it's time to file.
Your Lili account allows you to separate out your business expenses in real time and sort them by categories used by the IRS. At the end of your quarter, all you have to do is download the auto-generated expense report. With Lili, you’ll never miss or forget a tax write-off ever again.
Lili is always open! You can deposit checks from your phone wherever you are, and deposit your cash at more than 90,000 retail locations (including Walmart, CVS, Rite Aid, and more). Instant notifications can tell you whenever money goes in or out, and the Lili app is loaded with features to give you more insight into your spending habits, tips for finding financial balance, and tools to maximize your tax deductions.