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.

	Lili	Bank of America
		Member FDIC
	Visit Site	Learn More
	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
Savings	Emergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APY
CD
Checking	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	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
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

Savings
Minimum Deposit
Checking
Fees
Mobile App
Customer Service
CD
Pros & Cons	Pros: 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 Line	Mixed-use account for small business owners to help manage expenses and taxes... Read full review	National bank with widespread accessibility and wide range of services... Read full review
	Visit Site	Learn More
	Free Checking Account for Sole Proprietors and Single-Member LLC Lili Pro Business Checking
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 04/26/2024 based on 91107 zip code.

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

Get Started

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

Get Started

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

Get Started

Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Learn More

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.

Member FDIC

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

Learn More

Expires 6/30/2024

Earn a cash bonus in three steps:

Open a new eligible business checking account by June 30, 2024
Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
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

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.

Learn More

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.