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.
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Visit Site | Visit Site | |
Novo | Lili | |
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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 | ||
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Savings | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Checking | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Customer Service | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Mobile App | ![]() ![]() ![]() ![]() ![]() | ![]() ![]() ![]() ![]() ![]() |
Minimum Deposit | ![]() ![]() ![]() ![]() ![]() | |
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Pros & Cons | Pros:
| Pros:
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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.