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Lili vs Relay

Lili is a mixed-use account for small business owners to help manage expenses and taxes. How does it compare to Relay? 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 Relay lets you open up to 20 individual business checking accounts and 50 debit cards at no extra charge. There's also free cash deposits and free mailed checks through the app. There's no monthly fee.

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

 LiliRelay
 Visit SiteVisit Site
 

Lili

Relay

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

Read Lili Review

SPECIAL OFFER
No-Fee Business Checking - Learn More

Read Relay Review

 

Benefits and Features

SavingsEmergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APYEarn up to 3% APY: Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000.
CheckingNo monthly fees; no balance requirements; no overdraft fees; no foreign transaction feesUp to 20 individual business checking accounts; no monthly fees; no overdraft fees
Monthly Fee
$0
$0
APY
N/A
N/A
Minimum Deposit to Open
$0
$0
ACH Transfer Fee
$0
$0
ATMsApproximately 40,000 MoneyPass ATMs
55,000+ AllPoint ATMs
Balance Requirement
$0
None
Cash Deposit Fee
Up to $4.95
$0 for cash deposits at Allpoint ATMs
Customer Service
Monday – Friday 9am – 7pm EST
Phone: Monday - Friday, 9 am - 5 pm ET; Email: Everyday
Incoming Wire Transfer Fee
$0
$0
Locations
Online only
Online only
Out of Network ATM Fee
$2.50 ($5 for international)
Fee from ATM owner
Outgoing Wire Transfer Fee
N/A
$5 for domestic; $10 for international
Overdraft Fee
$0
$0
 

CreditDonkey® Reviews

 LiliRelay
SavingsStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStar
CheckingStarStarStarStarStarStarStarStarStarStar
FeesStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarStarEmpty StarStarStarStarStarEmpty 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:
  • Up to 20 checking accounts
  • Up to 50 debit cards
  • $0 monthly fee
  • Earn interest with automated savings
Cons:
  • No paper checks
Bottom LineMixed-use account for small business owners to help manage expenses and taxes... Read full reviewOne of the best online business banking accounts for large teams... Read full review
 Visit SiteVisit Site

No-Fee Business Checking

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 approximately 40,000 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
Relay

No-Fee Business Checking

  • $0 monthly service fee
  • $0 minimum opening deposit
  • Open up to 20 individual business checking accounts
  • Earn up to 3% APY with automated savings
  • Issue up to 50 Visa® debit cards to your team
Banking services provided by Thread Bank and Evolve Bank & Trust; Members FDIC.

Which is Better: Lili or Relay?

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.


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 Relay

Relay Financial Review

Relay Financial offers online banking services for businesses. Yes, it is free. But, is it the right platform for you? Find out.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a credit card 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.

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*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.

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