Lili Pro Account Review | Best Banking for Freelancers & Small Businesses?? Finding a bank account for your freelancing business or sole proprietorship or small business can be tough. Finding one that has tax tools, invoicing, cashback rewards, an emergency fund, an interest account, expense reporting, etc, is even tougher. In this video I review The Lili banking account for freelancers and their brand new Pro account offering. If you are looking for a bank account that's a fit for your business, this might be the very best bank account for freelancers out there. ▼▼ ➤ Sign up for your Lili Pro Account here: https://a.ndy.fyi/LiliPro ⮜ ➤ Get up to $250 in Digital Currency: https://a.ndy.fyi/BlockFi ➤ Yotta - Use code YOURFRIENDANDY and get 100 FREE TICKETS: https://a.ndy.fyi/Yotta ➤ Get 4 Free Stocks on WeBull (Deposit $100 & get 2 valued up to $1600): https://a.ndy.fyi/WeBull ➤ Open A Roth IRA: https://a.ndy.fyi/M1 ➤ Great Personal Finance Book (I Will Teach You To Be Rich): https://amzn.to/3qOc492 ➤ Follow Me On Twitter: https://a.ndy.fyi/twtr ➤ Follow Me On Instagram: https://a.ndy.fyi/insta Timestamps: 00:00 - Intro 00:26 - Spoiler Alert 01:27 - Hello from Lilly The Cat 01:44 - History 02:32 - Lili's Features 05:49 - Lili Pro Features 07:45 - Downsides 09:00 - Conclusion What to know what gear I use to make my videos and what gear I recommend if you're just starting out? Get my YouTube Gear Guide here: https://a.ndy.fyi/YTemail Lili charges no monthly maintenance, overdraft, transfer, returned check, or minimum fees whatsoever. First, every charge you make with your debit card can easily be categorized as either personal or business, just by swiping the transaction to the left or right, right from the app. This makes it extremely easy to track your expenses later. In fact, Lili has a reporting feature built right into the app. From there you can create statements and expense reports, and even export them to Excel. Lili's Tax Bucket allows you to automatically set aside a certain percentage of all your income so that when tax time comes, you’re not caught completely off guard. The Tax Bucket essentially acts as a way to withhold those taxes and keep the funds out of your main checking balance so that when the time comes, you’ll have it all ready to go. Some of the reports you can generate include net income and work income, which lays everything out in an easy-to-use format, kind of like a W2 can do for those in more traditional jobs. Honestly, for a freelancer or small business owner, it doesn’t get much easier than that--especially without paying for software like Quickbooks. Lili also offers what they call the Emergency Bucket, which is a way to prepare for any unforeseen expenses. Any funds you transfer to the emergency bucket won’t show up in your available balance, which means it stays out of sight and out of mind. That is, until you need it. You can also set up automatic daily transfers to your emergency bucket, making it even easier to save consistently. Lili just launched Lili Pro. This takes everything that is great about their standard account and makes it even better. This is one of the rare exceptions to Lili being fee-free. To get the Pro account you will pay a $4.95 a month fee. Before you get upset about fees, let me tell you exaclty what you get, because I think $4.95 is a bargain for the value you get with this account. First, the emergency savings account gets an upgrade. I love this feature Lili has because I don’t like stressing over having money in a slower month. Well with the Pro account, this emergency savings account now has a very competitive 1% APY. So now your money earns interest while it sits there waiting for an... emergency. The next huge feature is invoices. You can now create and send unlimited invoices through the app. The invoice creation process is very quick and easy. The next pro feature is you will now get cashback rewards on the visa debit card. Surprisingly, this is a feature that not many business-oriented banks offer so it’s definitely worth taking advantage of. Lili's BalanceUp feature. This is their version of overdraft protection. If you overspend and overdraft your account, they will cover you up to $200 with no fees. Lastly, Lili Pro gets your higher account limits. With Pro your daily spending limit is upped to $5000 and your ACH outbound transfer limit is upped to $2,000. DISCLOSURE: Some of the links on this page are affiliate links, this means that I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions are a great way to help fund and support the channel. I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.