Lili vs Novo
Lili is a mixed-use account for single business owners to help manage expenses and taxes. How does it compare to Novo? 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 Novo offers all-in-one banking for digital businesses. It includes up to 10 Reserves, free unlimited invoicing, and over a thousand business app integrations. But there's no cash deposits. There is no monthly fee.
Compare Lili with Novo, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Lili | Novo | |
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Free Checking Account for Sole Proprietors and Single-Member LLC - | Free Business Checking - | |
Benefits and Features | ||
Savings | Tax Bucket for all users; Lili Pro users also get an Emergency Bucket with 2.0% APY | No savings account, but you add up to 10 Reserves |
Checking | No monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees | No monthly fees; no balance requirements |
APY | ||
Customer Service | Phone, email, or in-app messaging: Monday - Friday, 9 am - 6 pm EST | |
Minimum Deposit to Open | $50 to access all Novo's features | |
ACH Transfer Fee | ||
ATMs | Unlimited reimbursement of all ATM fees worldwide | |
Balance Requirement | ||
Cash Deposit Fee | ||
Incoming Wire Transfer Fee | ||
Locations | ||
Out of Network ATM Fee | ||
Outgoing Wire Transfer Fee | ||
Overdraft Fee | ||
Monthly Fee | ||
CreditDonkey® Reviews | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Minimum Deposit | ![]() ![]() ![]() ![]() ![]() | |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Fees | ![]() ![]() ![]() ![]() ![]() | |
Pros & Cons | Pros:
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Bottom Line | Mixed-use account for single business owners to help manage expenses and taxes... | Fee-free online business checking with lots of good features... |
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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
- Auto save for taxes
- Track write-offs with a swipe
- Prefilled annual Schedule C
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
Free Checking Account for Sole Proprietors and Single-Member LLC
- $0 monthly service fees
- Categorize and track business expenses
- Save for taxes automatically
- Get direct deposits up to 2 days earlier
- No foreign transaction fees
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- Unlimited ATM fee rebates
Free Business Checking
- $0 monthly service fee
- Unlimited ATM fee rebates
- Free ACHs, incoming wires, and mailed checks
- Up to 10 Reserves to manage multiple budgets
- Thousands of app integrations
Novo Boost (available for payments processed via Stripe)
- Get paid faster and speed up cash flow
- Access funds in hours instead of days
- Connect with 50+ tools to help grow your business
Which is Better: Lili or Novo?
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.