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Bank of America vs Lili

Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to Lili? Read our comparison chart below.

Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

While Lili is designed for sole proprietors and single-member LLCs. It helps you prepare for taxes with a write-off tracker, automated tax savings, and pre-filled tax forms. The Lili basic account has no monthly fees or minimums.

Compare Bank of America with Lili, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Bank of America
Member FDIC
Lili
 Learn MoreVisit Site
 

Bank of America

Lili

OFFER
Bank of America Advantage Banking - $300 Bonus Offer

Read Bank of America Review

SPECIAL OFFER
Free Checking Account for Small Business Owners - Learn More

Read Lili Review

 

Benefits and Features

SavingsBank of America Advantage Savings Standard Rate: 0.01% APYEmergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 3.65% APY
CD
  • 7-Month CD - 4.35% APY
  • 10-Month CD - 4.00% APY
  • 13-Month CD - 3.25% APY
  • 25-Month CD - 2.00% APY
  • 37-Month CD - 0.05% APY
  • 1-Month CD - 0.03% APY
  • 120-Month CD - 0.03% APY
 
Checking
Check
No monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees
Monthly Fee 
$0
APY 
N/A
Minimum Deposit to Open 
$0
ACH Transfer Fee 
$0
ATMs
Approximately 16,000+ ATMs
approximately 40,000 MoneyPass ATMs
Balance Requirement 
$0
Cash Deposit Fee 
Up to $4.95
Customer Service
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
Monday – Friday 9am – 7pm EST
Incoming Wire Transfer Fee 
$0
IRA CD
Check
 
Locations
3,922 financial centers
Online only
Out of Network ATM Fee 
$2.50 ($5 for international)
Outgoing Wire Transfer Fee 
N/A
Overdraft Fee 
$0
 

CreditDonkey® Reviews

 Bank of AmericaLili
SavingsStarStarEmpty StarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CDStarStarStarHalf StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Minimum DepositStarStarStarStarStar
FeesStarStarStarStarStar
Pros & ConsPros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Pros:
  • No monthly fees
  • Expense tracking
  • Save for taxes
Cons:
  • Best features only for paid Lili plans
  • Fee to deposit cash
Bottom LineNational bank with widespread accessibility and wide range of services... Read full reviewMixed-use account for small business owners to help manage expenses and taxes... Read full review
 Learn MoreVisit Site

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    Bank of America: Pricing information from published website as of 09/24/2024 based on 91107 zip code.

    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $300 Bonus Offer

    Expires 1/31/2025
    • The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new checking customers only.
    • Offer expires 01/31/2025.
    • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
    • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
    • Additional terms and conditions apply. See offer page for more details.
    • *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
    • Bank of America, N.A. Member FDIC.
    Bank of America
    Member FDIC

    Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

    Expires 12/31/2024
    • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
    • The offer is for new eligible business checking customers only.
    • Offer expires 12/31/2024.
    • To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
    • Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
    • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
    • Additional terms and conditions apply. See offer page for more details.
    • *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
    • ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
    • Bank of America, N.A. Member FDIC
    Bank of America
    Member FDIC

    Bank of America Advantage SafeBalance Banking®

    • Banking that helps you stay within your balance.
    • No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
    • Bank of America, N.A. Member FDIC.
    Lili

    Free Checking Account for Small Business Owners

    • Sign up in 3 minutes; no credit check
    • No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
    • Automatic Savings
    • Get paid up to 2 days early
    Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC
    Lili

    Free Checking Account for Small Business Owners

    • $0 monthly service fees
    • $0 minimum opening deposit
    • No minimum balance requirement
    • No foreign exchange fee
    • Get direct deposits up to 2 days earlier
    Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC
    Lili

    Free Checking Account for Small Business Owners

    • $0 monthly service fees
    • Automatic Savings
    • Free withdrawals at approximately 40,000 ATMs
    • Get direct deposits up to 2 days earlier
    • No foreign transaction fees
    Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC

    Which is Better: Bank of America or Lili?

    Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.

    In short: Lili's checking is outstanding.


    Articles on Bank of America

    Bank of America Review

    Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

    Bank of America Savings Account Interest Rate

    Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

    Bank of America High Yield Savings

    Bank of America offers various banking products and services. But does it have a high-yield savings account? Find out here.

    Bank of America Problems

    Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

    Bank of America CD Rates

    Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

    How to Close a Bank of America Account

    Want to close your Bank of America account? Learn how and what you need to do before you close your account.

    Bank of America Hours

    Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

    Bank of America Routing Number

    Find your Bank of America routing number and learn about money transfers in our guide.

    Articles on Lili

    Lili Review

    Lili offers a free business checking account with tax planning and expense tracking tools. Review the features to find out if Lili is worth it.

    Which Do You Think is Best?





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    About CreditDonkey
    CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

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