Lili and Found reduce the cost of business paperwork by providing a single platform for your banking, accounting, and other cash management needs. When comparing Lili vs Found business checking accounts, Found is more affordable. But while Lili locks most of its digital business tools behind paid plans, its paid plans offer features unavailable with Found, such as free overdraft protection, AI-assisted accounting, and high-yield savings.
Here is a summary of what each provider is best for:
- LiliLili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC. is best for businesses needing built-in accounting tools plus access to overdraft protection and high APY from savings
- FoundFound is a financial technology company, not a bank. Business banking services are provided by Lead Bank, Member FDIC. The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. is best for businesses seeking free* access to built-in bookkeeping, tax preparation, and invoicing tools
Lili vs Found Business Checking Quick Comparison
 |  | |
|---|---|---|
| Monthly Fee | $0, $9, $21, or $33 | $0 or $19.99 |
| Required Opening Deposit | $0 | $0 |
| Required Balance Minimum | $0 | $0 |
| Transaction Limit Before Fees | Unlimited | Unlimited |
| ACH Fees | $0 for standard ACH; 1.5% of transaction amount for Express ACHThe minimum fee for Express ACH is 50 cents while the maximum is $20. | $0 for standard ACH; 1% of transaction amount for Express ACH up to $25 max |
| Domestic Wire Transfer Fees | $0 for incoming; $15 for outgoing wire transfers | $0 for incoming; $15 for outgoing wire transfers |
| International Wire Transfer Fees | Cannot send or receive international wire transfers | Cannot send or receive international wire transfers |
| ATM Fees | $2.50 at non-MoneyPass ATMsThird-party operator fees may apply. | NoneThird-party operator fees may apply. |
| Cash Deposit Fee | Up to $4.95 per deposit at 90,000-plus Green Dot retail locations | $2 per transaction at 79,000-plus retail locations |
| For More Information | Read our Lili Business Checking Review | Read our Found Business Checking review |
When to Use Lili, Found, or Alternatives
- You want to save on overdraft fees: Found does not permit you to overdraft your account. Meanwhile, Lili’s paid plans provide fee-free overdraft protection of up to $200 for eligible users.
- You want to access a high-yield savings account: While Lili does not offer an interest-bearing business checking product, you can open a business savings account under any paid plan. Lili Pro, Lili Smart, and Lili Premium offer savings accounts with 2.50% APY on balances between $0.01 to $500,000 and 4.00% APY on balances over $500,000.This APY is subject to change and applies on balances up to $500,000 for Lili Pro, Lili Smart, and Lili Premium account holders only. . Found does not have a savings account.
- You want to gain personalized financial insights for your business: Through Lili’s intuitive chat-based Accountant AILili AI can be used to assist with your accounting. Lili is not a tax preparer and does not provide tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors regarding your specific situation. , small business owners can get tailored in-depth business accounting answers that help them make fully informed and timely business decisions. Found does not provide this feature.
Comparison of Found vs Lili Business Checking Features
| Lili | Found | |
|---|---|---|
| Overall RatingThis score is reflective of the features of each platform compared against its competitor; it does not reflect the overall quality of the financial provider. A feature not offered by a provider earns zero stars, which is averaged into the overall rating. | 3.23 ★ | 3.69★ |
| Check Deposits | ★★★★ | ★★★ |
| Cash Deposits | ★★★ | ★★★★ |
| Automated Clearing House (ACH) | ★★★★★ | ★★★★ |
| Debit Card, ATM Network & Fees | ★★★★ | ★★★★★ |
| Additional Debit Cards | 0 | ★★★★ |
| Direct Deposit | ★★★★★ | ★★★★★ |
| APY | ★★★★ | ★★★ |
| Bookkeeping Tools | ★★★ | ★★★★★ |
| Tax Preparation Tools | ★★★ | ★★★★★ |
| Invoicing | ★★★ | ★★★★★ |
| Contractor Management | 0 | ★★★★★ |
| Overdraft Protection | ★★★ | 0 |
| AI-assisted Accounting | ★★★★★ | 0 |
| Rating Explanation: ★★★★★: This feature enhances your banking experience at little to no cost. ★★★★: This feature has a few minor drawbacks/limits or comes at a slight cost. ★★★: This feature has a few drawbacks/limits or comes at a slightly high cost. ★★ This feature has a few major drawbacks/limits and comes at a high cost. ★: This feature has major drawbacks/limits. 0: This feature is unavailable. | ||
Most of Found’s best features are available even if you don’t upgrade to Found Plus*. Meanwhile, most of Lili’s best features are only available with paid plans. However, these paid options provide premium features—such as overdraft protection and high APY from a savings account—that are unavailable in Found’s plans.
Lili: 4 out of 5
You can deposit checks into your Lili account through mobile check deposit. The feature is available to the following business types:
- Single-member LLCs
- Multimember LLCs
- General partnerships
- Limited liability partnerships
- S Corporations
If you’re a sole proprietor, you are only eligible for Lili’s check deposit feature if you meet both of the following criteria:
- Your account has been open for at least 30 days
- You receive $200 or more in ACH direct deposits from a nongovernmental source per calendar month
Found: 3 out of 5
Found also offers mobile check deposits. However, it is only available to eligible users. The provider has not published the eligibility criteria, but you can check your eligibility and view the listed requirements within your account. If you meet them, you must complete the identity and business verification. Upon approval, you can deposit checks through the app.
Lili: 3 out of 5
Lili lets you deposit cash at over 90,000 Green Dot retail locations. Deposit fees can be charged up to $4.95 per transaction.
Found: 4 out of 5
You can deposit cash into your Found account through more than 79,000 retail establishments, which you can locate on the Found app. There is a flat fee of $2 per deposit, which makes Found slightly cheaper than Lili.
Lili: 5 out of 5
Lili lets you send payments via ACH. You have two transfer time options:
- Standard ACH, which has no fee but takes longer
- Express ACH, which costs 1.5% of the transaction amount (for a minimum of 50 cents and a maximum of $20) and sends the payment within the same- or next-day timeframe.
Found: 4 out of 5
Found lets you send unlimited ACH transfers.
Lili: 4 out of 5
You will receive a free Visa debit card with your Lili business checking account, regardless of your plan type. If you have a paid plan, you will also receive cash back rewards on qualifying debit card purchases with partner retailers.
Lili charges no fees for MoneyPass ATM transactions. Out-of-network transactions cost $2.50 plus third-party operator fees (if applicable).
Found: 5 out of 5
Your Found business checking account will come with a complimentary Mastercard debitThe Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted. card. Similar to Lili, you can earn cash back rewards when you’ve made eligible purchases using your Found business card.
Found does not charge fees when you transact at any ATM, although third-party operator fees can apply.
Lili: 0 out of 5
You only get one debit card per Lili account.
Found: 4 out of 5
With Found, you can create up to 20 additional virtual debit cardsThe Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted. . Each card gets its own customizable spending limit, which is useful if you plan on issuing employee cards.
Lili: 5 out of 5
All of Lili’s plans provide access to direct deposit, which lets you receive client payments faster.
Found: 5 out of 5
Found also offers direct deposit with no fees.
Lili: 4 out of 5
Lili Pro, Lili Smart, and Lili Premium offer savings accounts with 2.50% APY on balances between $0.01 to $500,000 and 4.00% APY on balances over $500,000. However, as mentioned above, these are only available for paid plans.
Found: 3 out of 5
Upgrading to Found Plus* gives you access to 1.5% APY on balances up to $20,000.
Lili: 3 out of 5
If you’re enrolled in one of Lili’s paid plans, you gain access to Lili’s bookkeeping features. Lili Pro lets you manually categorize your expenses and comes with a receipt scanner, which lets you attach receipts to transactions. Lili uses this information to generate monthly expense reports.
Meanwhile, Lili Smart and Lili Premium automatically organize debit card transactions into different tax categories. Lili will then use the data to generate financial reports, such as cash flow statements and profit and loss reports.
Found: 5 out of 5
You can access most of Found’s bookkeeping features without subscribing to Found’s paid plan*. Like Lili, Found records and categorizes your expenses automatically and then uses the data to generate income, expense, and profit and loss (P&L) reports. The platform comes with a receipt capture function, which lets you attach photos of physical receipts to transactions.
If you upgrade to Found Plus*, you can import transaction data from third-party sources, such as your bank, credit card, Venmo, and PayPal accounts. You can also use receipt capture to automatically pull expense data from receipt photos.
Lili: 3 out of 5
Paid Lili plans let you open a dedicated tax bucket. Whenever you earn money, Lili sweeps a percentage of your income into that tax bucket. Although the process is automatic, it’s upto you to determine how much money you want to set aside.
Lili also uses its expense categorization feature to help you track tax write-offs. If you upgrade to Lili Smart or Lili Premium, you get access to prefilled tax forms, such as Form 1065, Form 1120S, and Schedule C.
Found: 5 out of 5
Compared to Lili, Found’s tax preparation tools are more affordable and comprehensive. Not only does it use its expense tracking feature to identify tax write-offs, but it also pulls real-time tax estimates from your banking data.
Like Lili, the Found account also comes with a tax savings account. Whenever you mark a deposit as income, Found automatically sweeps a percentage of your earnings into this account. Rather than leaving you to choose this percentage on your own, Found uses your tax profile to calculate how much it needs to save.
If you upgrade to Found Plus*, you can pay quarterly federal taxes directly through the app as a Schedule C filer.
Lili: 3 out of 5
Lili Smart and Lili Premium Plans provide access to many useful invoicing tools. You can create, customize, and send unlimited invoices and accept payments via the following:
- Debit or credit card (Amex, Mastercard, and Visa)
- Checks
- ACH
- Venmo
- Cash App
- PayPal
The platform lets you track unpaid invoices and send automatic payment reminders to clients. You can also reuse invoices for recurring payments.
Found: 5 out of 5
Found comes with free invoicing features. You can create, customize, and send (instant or scheduled) invoices and accept payments from the following channels:
- Found to Found transfers
- ACH transfers
- Domestic wire transfers
- Credit or debit card (processed through Stripe)
- Cash App
- Venmo
- PayPal
Note that Found uses Stripe to process credit card and debit card invoice payments, which means you need to create a new Stripe account or link your existing Stripe account to accept card payments. You also need to pay a 2.9% plus 30 cents fee per processed transaction.
The feature notifies you when your invoices have been viewed or paid. Found also sends payment reminders to your clients.
Lili: 0 out of 5
Lili does not offer contractor management software.
Found: 5 out of 5
Found provides access to contractor management tools. These tools let you send unlimited contractor payments. It also helps your contractors report their taxes by collecting W-9s and generating their 1099 forms automatically.
Lili: 3 out of 5
Paid Lili plans provide up to $200 worth of fee-free overdraft protection. Note that this only applies to debit card transactions.
Found: 0 out of 5
You are not allowed to overdraw your Found account.
Lili: 5 out of 5
Lili provides chat-based AI-assisted accounting (Accountant AI), which is designed to benefit small businesses. You can instantly access personalized answers to your accounting questions to help you make fast and informed business decisions.
Found: 0 out of 5
Found does not offer accounting assistance using AI.
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. FDIC insurance only covers the failure of an FDIC-insured depository institution.
The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc.
*Found’s core features are free. Found also offers an optional paid product, Found Plus* for $19.99/month or $149.99/year. Advanced, optional add-on bookkeeping software available with a Found Plus* subscription. There are no monthly account maintenance fees, but transactional fees for wires, instant transfers, and ATM apply. Read more here
**Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
Ready to open an account? We have a downloadable checklist of documents typically requested upon account opening in our guide on how to open a business bank account.
Lili vs Found Reviews From Users
| Lili | Found | |
|---|---|---|
| Trustpilot Rating | 4.7 (from 3,100-plus reviews[1]) | 4.3 (from 500-plus reviews[2]) |
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| Users Dislike |
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Both providers earned high user ratings. However, Lili has more user reviews than Found, which provides potential Lili users with more information.
Many reviewers specified the features they appreciated from each fintech company. For Lili, customers liked the convenient tax bucket, expense categorization, and invoicing tools. For Found, tax automation features, customized subaccounts, and free invoice creation were often mentioned.
Lili users also gave positive feedback on the level of customer service they received. They said the support team is responsive, knowledgeable, and helpful. However, some stated that their ACH transfers and check deposits took a long time to reflect. Meanwhile, Found customers complained about the 30-day timeframe for new customers to be eligible to deposit checks. In addition, they criticized the fintech for unresponsive customer support.
Frequently Asked Questions (FAQs)
Yes. Lili provides several outstanding business checking accounts with overdraft protection, no opening deposit, and minimum balances. In addition, it offers tax preparation tools, automated bookkeeping, and unlimited invoicing, including a unique feature like Accountant AI to help small business owners make informed business decisions.
No, Found is a fintech company, not a bank. Its banking services are provided by Lead Bank, a member of FDIC. It offers business checking accounts with no hidden fees*, opening deposits, and required minimum balances. Similar to Lili, it features tax preparation, bookkeeping, and unlimited invoicing.
Bottom Line
Comparing Found vs Lili business checking, Found provides better value for money than Lili. While Lili limits some of its best features (such as automated tax savings, unlimited free invoicing, and smart bookkeeping) to its paid plans, Found offers many of the same features for free. However, Lili’s paid options are worth considering if you want access to fee-free overdraft coverage, high interest on savings, and AI-assisted accounting.
User review references:
1Trustpilot | Lili
2Trustpilot | Found
Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. FDIC insurance only covers the failure of an FDIC-insured depository institution.
The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc.
*Found’s core features are free. Found also offers an optional paid product, Found Plus* for $19.99/month or $149.99/year. Advanced, optional add-on bookkeeping software available with a Found Plus* subscription. There are no monthly account maintenance fees, but transactional fees for wires, instant transfers, and ATM apply. Read more here
**Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
