Lili offers an online bank account specially designed for freelancers. The checking account comes with features to help freelancers manage their day-to-day finances, put money aside to pay taxes, and save money— all from a user-friendly mobile banking app. Applying for a Lili bank account online takes about 3 minutes, does not affect your credit score, and only requires you to have an SSN.
What Can You Do With Your Lili Bank Account?
The checking account and mobile banking app come all equipped to make freelancer financials’ lives easier. These are some of the highlights of the Lili bank account and mobile banking app:
- Visa Business Debit Card: A widely accepted card that you can freeze or unfreeze from the mobile app to protect from unauthorized use. If it’s fraudulently used, online or offline, you have zero liability, and you will be covered.
- Get Paid 2 Days Earlier: When you use your Lili bank account to make deposits of your earnings from payment apps or other online platforms, your money gets to you up to 2 days earlier.
- Free Cash Withdrawals: Use the mobile app to find one of the 38,000 ATMs in the U.S. or Puerto Rico, where you can withdraw money entirely for free.
- Quickly Deposit Checks or Cash: You can use the mobile app to deposit partner checks into the Lili bank account or visit one of the 90,000 retail locations to deposit cash.
- Make Mobile Payments: You can add your Lili card to Apple Pay Wallet or Google Pay app to pay from your phone, so you don’t have to carry your physical card around.
- Manage Your Expenses and Income: The Lili mobile banking app comes with a free expense management tool that allows you to categorize, sort, and search your expenses, track how much money you are making, and understand what you are spending money on.
- Set Up Automatic Savings for Taxes or Unexpected Situations: Set money aside into the tax bucket. The mobile app comes with a tax estimation tool that will help you know how much money you need to set aside. Or save money for unexpected circumstances, you can start with automatic payments to your saving fund of as little as $1 per day to begin saving.
- Real-time Notifications: Enable the mobile app push-notifications always to know when money comes in or leaves your Lili bank account.
- Protect Access To Your Account: Set up Face ID or Thumbprint recognition to avoid unwanted access to your Lili bank account.
How Much Does It Cost?
Opening a Lili bank account is free; they charge no monthly service charge and no minimum balance requirement. Lili will not charge you any ATM fees when you use any of their in-network ATMs. If you like the Lili banking experience, you can recommend it to other freelancers to earn $50 per person. Since you can refer up to 10 people, you can earn up to $500 on referrals only, provided you meet all the terms and conditions.
How To Get Started With A Lili Bank Account
You only need about 3 minutes and your SSN to open a Lili bank account online. The process of creating an account will not affect your credit score, and it is completed in 4 easy steps:
- Complete your Lili bank account application
- Download the Lili app from Google Play Store or Apple Store
- Pair your device with the mobile app
- Receive your VISA Lili card
It is as easy as it sounds to start making your freelancer finances a lot easier, so you can concentrate on your gigs and making money for yourself.