Novo vs Lili
Novo is a fee-free online business checking with lots of good features . How does it compare to Lili? Read our comparison chart below.
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.
While 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.
Compare Novo with Lili, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 |  | |
| Visit Site | Visit Site | |
Novo | Lili | |
|---|---|---|
Free Business Checking - | Free Checking Account for Sole Proprietors and Single-Member LLC - | |
Benefits and Features | ||
| Savings | No savings account, but you add up to 10 Reserves | Emergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 4.15% APY |
| Checking | No monthly fees; no balance requirements | No monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees |
| 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 | ||
| | |
| Savings |  |  |
| Checking | | |
| Customer Service | | |
| Mobile App | |  |
| Minimum Deposit | | |
| Fees | | |
| Pros & Cons | Pros:
| Pros:
|
| Bottom Line | Fee-free online business checking with lots of good features... | Mixed-use account for small business owners to help manage expenses and taxes... |
| Visit Site | Visit Site | |
Novo: Pricing information from published website as of 10/10/2023. | ||
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
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
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
- Automatic Savings
- Free withdrawals at 38k ATMs
- Get direct deposits up to 2 days earlier
- No foreign transaction fees
Which is Better: Novo or Lili?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Novo or Chase.
In short: Lili's checking is outstanding.
Articles on Novo
Novo Review
Novo provides digital banking services for entrepreneurs and small businesses. Explore Novo's features, business perks, and fees in this review.
Is Novo Legit
Novo is a platform offering banking services for small businesses and freelancers. But is it safe and legit? Read on to find out.
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.
Which Do You Think is Best?
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