Save money and be informed. CreditDonkey is a bank comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†

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.

 LiliBank of America
Member FDIC
 Visit SiteLearn More
 

Lili

Bank of America

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

Read Lili Review

OFFER
Bank of America Advantage Banking - $200 Bonus Offer

Read Bank of America Review

 

Benefits and Features

SavingsEmergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APY
Check
CD 
Check
CheckingNo monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees
Check
Monthly Fee
$0
 
APY
N/A
 
Minimum Deposit to Open
$0
 
ACH Transfer Fee
$0
 
ATMs
38,000+ MoneyPass ATMs
Approximately 16,000+ ATMs
Balance Requirement
$0
 
Cash Deposit Fee
$4.95
 
Customer Service
Monday – Friday 9am – 7pm EST
  • Mon-Fri: 8am - 9pm (ET)
  • Sat: 8am - 8pm (ET)
  • Sun: 8am - 5pm (ET)
Incoming Wire Transfer Fee
$0
 
IRA CD 
Check
Locations
Online only
3,922 financial centers
Out of Network ATM Fee
$2.50 ($5 for international)
 
Outgoing Wire Transfer Fee
N/A
 
Overdraft Fee
$0
 
 

CreditDonkey® Reviews

 LiliBank of America
SavingsStarStarStarEmpty StarEmpty StarStarStarEmpty StarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStar
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
FeesStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty Star
CDStarStarStarHalf StarEmpty Star
Pros & ConsPros:
  • No monthly fees
  • Expense tracking
  • Save for taxes
Cons:
  • Best features only for paid Lili plans
  • No checks
  • Fee to deposit cash
Pros:
  • Large branch network
  • Extended service hours
  • Full service banking
Cons:
  • Monthly fees
  • Low interest rates
  • Many misc. banking fees
Bottom LineMixed-use account for small business owners to help manage expenses and taxes... Read full reviewNational bank with widespread accessibility and wide range of services... Read full review
 Visit SiteLearn More

    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 04/09/2024 based on 91107 zip code.

    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
    Bank of America
    Member FDIC

    Bank of America Advantage Banking - $200 Bonus Offer

    Expires 5/31/2024
    • 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 checking customers only.
    • Offer expires 5/31/2024.
    • To qualify, open a 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 account within 90 days of opening.
    • 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
    Member FDIC

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

    Expires 6/30/2024
    Earn a cash bonus in three steps:
    1. Open a new eligible business checking account by June 30, 2024
    2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
    3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**
    *Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
    **The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
    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.

    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.


    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.

    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.

    Which Do You Think is Best?





    You Might Also Like

    Best Business Bank Accounts for LLC

    Best Business Bank Accounts for LLC

    The best banks for LLCs have low fees and valuable perks to help your business grow. Here are the best business bank accounts for all types of LLCs.
    Best Free Business Checking for Freelancers and Side Hustlers

    Best Free Business Checking for Freelancers and Side Hustlers

    Which banks offer the best free business checking accounts for freelancers? Find the top interest rates and business perks for independent contractors.
    Best Business Checking Account

    Best Business Checking Account

    Cut banking costs and keep more money in your business. Here are the best business checking accounts (#1 is free).
    Best Bank for Small Business

    Best Bank for Small Business

    Discover the top 10 banks for small businesses. Unlock your business' potential with the best bank
    Best Free Checking Accounts for Small Businesses

    Best Free Checking Accounts for Small Businesses

    Avoid hidden fees. Determine the best free business checking account for your small business.

    Next Page:

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

    Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

    †Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

    *See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

    CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

    About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
    (888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
    © 2024 CreditDonkey Inc. All Rights Reserved.