Lili vs Bank of America
Lili is a mixed-use account for small business owners to help manage expenses and taxes. How does it compare to Bank of America? Read our comparison chart below.
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.
While 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.
Compare Lili with Bank of America, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Lili | Bank of America | |
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Free Checking Account for Small Business Owners - | Bank of America Advantage Banking - $200 Bonus Offer | |
Benefits and Features | ||
Savings | Emergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APY | Bank of America Advantage Savings Standard Rate: 0.01% APY |
CD | ![]() | |
Checking | No monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees | ![]() |
Monthly Fee | ||
APY | ||
Minimum Deposit to Open | ||
ACH Transfer Fee | ||
ATMs | approximately 40,000 MoneyPass ATMs | |
Balance Requirement | ||
Cash Deposit Fee | ||
Customer Service |
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Incoming Wire Transfer Fee | ||
IRA CD | ![]() | |
Locations | ||
Out of Network ATM Fee | ||
Outgoing Wire Transfer Fee | ||
Overdraft Fee | ||
CreditDonkey® Reviews | ||
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Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
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Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
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Pros & Cons | Pros:
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Bottom Line | Mixed-use account for small business owners to help manage expenses and taxes... | National bank with widespread accessibility and wide range of services... |
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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 07/11/2024 based on 91107 zip code. |
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
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
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
Bank of America Advantage Banking - $200 Bonus Offer
- 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 checking customers only.
- Offer expires 9/30/2024.
- 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.
- Bank of America, N.A. Member FDIC.
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- Open a new eligible Business Advantage checking account by December 31, 2024. This is an online only offer for new eligible business checking customers only
- Deposit $5,000 or more in New Money* directly into your new eligible Bank of America Business Advantage Banking account within thirty (30) calendar days of account opening
- Maintain an average balance of $5,000 or more in that new Business Advantage Banking account during the Maintenance Period**.
*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) days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. 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.
Which is Better: Lili or Bank of America?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Lili or Chase.
In short: Lili's checking is outstanding.