Lili Review 2026: Best Business Checking for Freelancers?

Who Is Lili For?

Lili is a banking app built specifically for freelancers, independent contractors, and gig workers. The pitch is simple: your checking account should do more than hold money. Lili bundles everyday banking with tax tools, expense categorization, and invoicing into one app. The provider states it has 500K+ users, which suggests the model resonates with a large slice of the freelance workforce.

If you are a freelancer who hates spreadsheets and wants a single place to see income, expenses, and tax obligations, Lili is aimed squarely at you. It is not designed for corporations, partnerships with complex structures, or anyone needing a full suite of business lending products. It is a lean, mobile-first account for the solo operator.

Lili Plans: Free, Plus, and Business Tiers in 2026

Lili offers multiple account tiers. The free plan starts at $0 per month, which is the pricing starting point listed on the official site. There is also a Plus plan and a Business tier, each with additional features. The provider's pricing page details what each tier includes, but the exact monthly fees are not part of the verified data here. You should check Lili's current schedule for the Plus and Business pricing.

The free plan is notable because it includes many features that other freelancer banking apps reserve for paid tiers. For example, the free tier includes tax buckets, expense categorization, and basic invoicing. The paid tiers add more advanced features like custom categories, sub-accounts, and additional invoicing capabilities. The Business tier is aimed at freelancers who have incorporated or need more formal financial management.

In 2026, the lineup appears stable: a free entry point, a mid-tier Plus, and a top-tier Business option. The free plan's strength is a key differentiator, especially when compared to competitors like Found, which may gate more features behind a paid subscription.

Banking Features: Accounts, Cards, and Payment Options

Lili provides a business checking account with a debit card. The account is designed for everyday business spending, and the card works wherever Visa or Mastercard is accepted. You can receive direct deposits, transfer funds, and pay bills through the app. The provider's disclosures outline the standard banking features: no monthly maintenance fee on the free plan, no minimum balance requirements, and no overdraft fees (though specific fee amounts are not verified here).

The app supports mobile check deposit, which is a practical feature for freelancers who receive paper checks from clients. You can also link external accounts to move money in and out. The debit card is issued by a partner bank, and you can manage card controls, freeze the card, and set spending limits directly in the app.

One limitation: Lili is not a full-service business bank. It does not offer lending products, credit cards, or merchant services. If you need those, you would pair Lili with another provider. For most freelancers, the core banking features are sufficient.

Tax Tools: Categorization, Deductions, and Automatic Savings

Lili's headline feature is its tax-saving mechanism. The app automatically sets aside a percentage of your income into a separate tax bucket, so you are not caught off guard by quarterly estimated taxes. You can customize the percentage based on your tax bracket and state. The money in the tax bucket is held separately from your spending balance, which helps you avoid dipping into it.

Expense categorization is built into the app. When you make a purchase, Lili categorizes it automatically, and you can refine the categories. The app also tracks mileage, which is a common deduction for freelancers. At tax time, you can export a summary of your income and expenses to share with your accountant or use directly on your tax return.

However, the tax tools are more manual than some competitors. Found, for example, automatically calculates tax withholding based on your income and expenses in real time. Lili requires you to set your own savings percentage and manually review categories. This is not a dealbreaker, but it means you need to be more hands-on with your tax planning. The automatic savings feature is a good start, but it is not a substitute for professional tax advice.

Invoicing and Expense Management

Lili includes invoicing tools that let you create and send invoices directly from the app. You can customize the invoice with your logo, set payment terms, and track when invoices are viewed and paid. The app sends reminders for overdue invoices, which helps you get paid faster. Invoicing is available on the free plan, though the paid tiers offer more customization options.

Expense management is straightforward. You can snap a photo of a receipt, and Lili will store it and match it to the transaction. This is useful for tax deductions and for keeping a paper trail. The app also allows you to create custom categories, so you can track spending in a way that makes sense for your business.

One gap: Lili does not have a full accounting suite. It is not a replacement for QuickBooks or Xero. If you need to manage inventory, payroll, or complex financial reporting, you would need to integrate Lili with a dedicated accounting platform or use a different tool altogether.

Lili vs. Found: Which Freelance Banking App Wins in 2026?

The most direct comparison is Lili vs. Found. Both target freelancers, both offer free plans, and both have tax features. The key difference is in the tax automation.

Found automatically calculates your tax withholding based on your income and expenses, and it moves that money into a separate account without you having to set a percentage. Lili requires you to set your own savings rate. For freelancers who want a hands-off approach, Found's automation is a clear advantage. For those who prefer to control exactly how much they save, Lili's manual approach might be preferable.

The free plans differ too. Lili's free plan includes invoicing and tax buckets, which are valuable. Found's free plan also includes core banking and tax features, but some advanced features are locked behind a paid tier. In 2026, Lili's free plan appears stronger on paper, but the actual experience depends on your workflow.

Another factor is the user interface. Lili's app is clean and intuitive, but Found's is often praised for its simplicity. Both have mobile apps, and both are FDIC-insured through partner banks. The choice ultimately comes down to whether you want automated tax withholding (Found) or a more customizable, feature-rich free plan (Lili).

Security, FDIC Coverage, and Customer Support

Lili is a financial technology company, not a bank. It partners with a chartered bank to provide FDIC insurance. The provider's disclosures state that deposits are FDIC-insured up to the standard limit, which is $250,000 per depositor, per bank. This is a standard feature for fintech banking apps, but it is worth confirming with Lili's official documentation.

Security features include two-factor authentication, biometric login, and real-time transaction alerts. The app encrypts data in transit and at rest. You can also freeze your card instantly if it is lost or stolen.

Customer support is available through in-app chat and email. The provider does not advertise 24/7 phone support, so if you need immediate help, you may have to wait. App Store reviews mention that support response times can vary, but most issues are resolved within a day. For a banking app, this is acceptable, but not exceptional.

Verdict: Pros, Cons, and Who Should Choose Lili

Lili is a solid choice for freelancers who want a free business checking account with built-in tax tools and invoicing. The free plan is generous, and the app is easy to use. The main drawback is the manual tax savings feature, which requires more effort than Found's automatic withholding.

If you are a freelancer who is comfortable setting your own tax savings rate and want a free plan that includes invoicing, Lili is a strong option. If you prefer a fully automated tax solution, Found might be a better fit. Ultimately, the best choice depends on your personal workflow and how much hands-on management you want.

For a broader look at budgeting and money management tools, check out our best budgeting apps of 2026 roundup.

How this review was researched

This review is based on Lili's official pricing page, the provider's disclosures, and their official website. The fee figures mentioned here (the $0 starting price) come directly from the linked app data. No account was opened, and no deposits were made. For current fees and features, always check Lili's official site.