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Discover Bank vs Lili

Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to Lili? Read our comparison chart below.

Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. There are no service fees. Find out more

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. Find out more

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

 Discover Bank
Member FDIC
Lili
 Visit SiteVisit Site
 

Discover Bank

Lili

SPECIAL OFFER
Online Savings Account - Earn 4.25% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
Free Checking Account for Sole Proprietors and Single-Member LLC - Learn More

Read Lili Review

 

Benefits and Features

Savings
4.25% APY
Emergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APY
CD2.00% to 4.70% APY depending on terms. $2,500 minimum 
CheckingCashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for detailsNo monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees
Monthly Fee 
$0
Money Market4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. 
APY 
N/A
Minimum Deposit to Open 
$0
ACH Transfer Fee 
$0
ATMs
Over 60,000 no-fee ATMs
38,000+ MoneyPass ATMs
Balance Requirement 
$0
Cash Deposit Fee 
$4.95
Customer Service
24/7
Monday – Friday 9am – 7pm EST
Incoming Wire Transfer Fee 
$0
IRA CD12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. 
Locations
Online Only
Online only
Out of Network ATM Fee 
$2.50 ($5 for international)
Outgoing Wire Transfer Fee 
N/A
Overdraft Fee 
$0
 

CreditDonkey® Reviews

 Discover BankLili
SavingsStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarEmpty StarStarStarStarStarStar
Money MarketStarStarStarStarHalf Star
Mobile AppStarStarStarStarStarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarStarStarStarStarStarEmpty Star
Minimum DepositStarStarStarStarStar
FeesStarStarStarStarStar
Pros & ConsPros:
  • High yield
  • No fees
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Pros:
  • No monthly fees
  • Expense tracking
  • Save for taxes
Cons:
  • Best features only for paid Lili plans
  • No checks
  • Fee to deposit cash
Bottom LineSolid online bank with high APY rates and good customer service... Read full reviewMixed-use account for small business owners to help manage expenses and taxes... Read full review
 Visit SiteVisit Site

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

Discover Bank: Pricing information and data points from published website as of 03/15/2024.

Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
Discover Bank
Member FDIC

Online Checking Account - Earn Cash Back

  • 1% cash back on up to $3,000 in debit card purchases each month. See website for details
  • No fees
  • Early Pay - Get your paycheck up to two days early with no charge
  • No credit impact - You can apply without affecting your credit score.
  • Access to over 60,000 no-fee ATMs in the U.S.
Discover Bank
Member FDIC

Discover® Cashback Checking – Up to $30/Month Cashback

Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.

Lili

Free Checking Account for Sole Proprietors and Single-Member LLC

  • Sign up in 3 minutes; no credit check
  • No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at 38,000+ locations
  • Automatic Savings
  • Get paid up to 2 days early
Banking services provided by Choice Financial Group, Member FDIC
Lili

Free Checking Account for Sole Proprietors and Single-Member LLC

  • $0 monthly service fees
  • $0 minimum opening deposit
  • No minimum balance requirement
  • No foreign exchange fee
  • Get direct deposits up to 2 days earlier
Banking services provided by Choice Financial Group, Member FDIC
Lili

Free Checking Account for Sole Proprietors and Single-Member LLC

  • $0 monthly service fees
  • Automatic Savings
  • Free withdrawals at 38k ATMs
  • Get direct deposits up to 2 days earlier
  • No foreign transaction fees
Banking services provided by Choice Financial Group, Member FDIC

Which is Better: Discover Bank 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 Discover Bank or Chase.

In short: Discover Bank's savings and customer service are worth mentioning. In particular, the customer service is outstanding. Lili's checking is outstanding.


Articles on Discover Bank

Discover Savings Review

Discover® Bank offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Review

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.

Discover CD Rates Reviews

Maximize returns with Discover® Bank lucrative CD rates - no hidden fees. Read this detailed review.

Discover Bank Locations

Wondering if there is a Discover® Bank near you? Read this article to find out.

Discover Checking Account Fees

Does Discover® Cashback Debit have any fees? Find out if they are completely fee-free.

Who Owns Discover

You've probably heard of Discover credit cards, but what exactly is Discover® Bank? Is it a legitimate bank? Read on for all the details.

Discover Checking Account Minimum Balance

Discover® Cashback Debit doesn't have a minimum balance. But what's the catch? Read on for all the details.

Discover Checking Account Requirements

Discover® checking account offers no monthly fees and a rewarding cashback program. Here's what you need to open an account today.

Discover Savings vs Money Market

Discover® Bank boasts solid rates for both their money market and savings accounts. Find out which one is more suited for you.

Is Discover a Real Bank

Looking for a safe bank with great rates? This analysis of Discover® Bank reveals all - is it legit? Find out now.

Is Discover Savings Worth It

Is your money secure in a high-yield Discover® savings account? Get your answers now.

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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