Live Oak Bank Business Checking
Online U.S. bank checking with waivable monthly fees, unlimited items, Allpoint ATM cash-out, no cash deposits, no checking APY
Lili Business Account
Startup/SMB digital checking with $0 Core fee, team access, Green Dot cash, savings APY, and IntraFi sweep to $3M
Costs & Fees
| Metric | Live Oak Bank Business Checking | Lili Business Account |
|---|---|---|
| Monthly maintenance | Essential $10/cycle if ADB <$1,000; Plus $25/cycle if ADB <$25,000; Analysis $100/mo (offset by earnings credit — rate unpublished) | Core $0. Pro $15/mo or $144/yr. Smart $35/mo or $336/yr. Premium $55/mo or $528/yr. Subscription fees, not balance-waivable. |
| Fee waiver | Essential: cycle ADB ≥ $1,000. Plus: cycle ADB ≥ $25,000. Analysis: earnings credit offsets fees. | No balance waiver on paid plans. Occasional new-applicant discounts not in fee table. |
| Transaction fees | Unlimited — no charge for checks paid/deposits, ACH, debit card on Essential/Plus (fee schedule 7.21.25) | Unlimited electronic items on published schedule. Priced extras: Express ACH, outgoing wires, Mail-a-Check, OON/international ATMs, plan subscription. |
| Overdraft/NSF | Overdraft $25; NSF no charge; returned item $5. No daily cap published. | Overdraft fee $0. Returned item (EFT) $0. Deposited-check returned $0. BalanceUp (Pro+ only) is discretionary courtesy pay $0–$200, not guaranteed coverage. |
| ATM fees | Allpoint 55,000+: $0 from Live Oak. OON: Live Oak $0 + owner surcharge. Foreign ATM 3% of amount. No rebate program. | MoneyPass in-network $0 Lili fee. OON domestic $2.50 + surcharge. International ATM $5 + surcharge. Intl balance inquiry $2.50. No rebate. |
| Wire/ACH | Incoming wire $10. Outgoing domestic $19. Outgoing international $40. ACH no charge on fee schedule. ACH collections/payments/EFTPS are Plus/Analysis features only. | Incoming domestic wire $0. Outgoing domestic $15. Incoming intl $15 + correspondent FX. Outgoing intl $25 + 1% commission on USD principal + correspondent markup. Standard ACH $0. Express ACH 1.5%, min $0.50, max $20. |
Interest & Yields
| Metric | Live Oak Bank Business Checking | Lili Business Account |
|---|---|---|
| Checking APY | None — non-interest-bearing on all three current tiers | None — non-interest-bearing on all tiers |
| Savings APY | 2.25% APY on portion up to $500,000; 4.00% on portion $500,000.01–$1,000,000; 0.00% above $1,000,000. Blended by tranche. All plans including Core. | |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Live Oak Banking Company | Standard FDIC $250,000 at Sunrise Banks, N.A. per depositor per ownership category |
Features & Access
| Metric | Live Oak Bank Business Checking | Lili Business Account |
|---|---|---|
| Branch/ATM network | No retail branch network. Allpoint 55,000+ for cash withdrawal only — no ATM cash deposit. OON Live Oak fee $0. | No branches. MoneyPass 38,000–40,000+ ATMs for cash withdrawal only. No ATM cash deposit. |
| Mobile app | iOS ~2.6/5 (~109 ratings); Android ~3.0–3.1/5 (~100–107 reviews) — Forbes Advisor Aug 2026 called mediocre | CreditDonkey Jul 2026: ~4.6 iOS / ~4.1 Android — re-check live stores |
| Virtual cards | Not disclosed beyond debit Card Center | Digital debit yes; dedicated virtual-card/spend-control suite not disclosed |
| Opening deposit | $100 | $0 |
| Eligibility | Sole prop, partnership, LLC, corporation, nonprofit. LP, professional corp, association on savings/CD pages. | Sole prop (incl. DBA), LLC, GP, LLP, S-Corp, C-Corp, 501(c)(3) nonprofit. Not B-Corps, non-501(c)(3) tax-exempts, trusts. International: no sole props. |
Pros & Cons
Live Oak Bank Business Checking
Pros
- Unlimited transactions and $0 item/ACH/debit fees on Essential/Plus (fee schedule 7.21.25)
- Monthly fee waivable at modest ADB — $1,000 Essential, $25,000 Plus
- Deposits at Live Oak Banking Company (true bank) with optional IntraFi ICS
- Allpoint 55,000+ cash-out with no Live Oak surcharge
- QuickBooks, bill pay, mobile deposit, multi-approver controls; long weekday phone hours (8am–11pm ET)
Cons
- Checking earns no APY
- No cash deposits and no branches
- Essential lacks online wire origination and ACH collections/payments per official matrix
- Outgoing wires $19 domestic / $40 international; Analysis fee schedule not public
- Weak mobile app ratings (~2.6 iOS); ICS liquidity not instant ($350k enrollment minimum)
Lili Business Account
Pros
- Core $0 with no min balance and $0 NSF/OD fee (Appendix A, Jul 2, 2025)
- Savings APY 2.25%/4.00% by tranche through $1M on all plans (rate sheet Jan 13, 2026)
- IntraFi sweep advertised to $3M via Sunrise + program banks
- Team/accountant roles and up to five businesses per login without per-seat fees
- Incoming domestic wires $0; debit card foreign-transaction fee $0; intl founder path (passport + EIN)
Cons
- Checking earns 0%; 4.00% applies only to $500k–$1M savings slice
- Cash deposits via Green Dot (retailer fee up to $4.95) capped at $5,000/month per cardholder
- Outgoing wires $15 domestic / $25 + 1% international; Express ACH 1.5%
- Invoicing and bill management require Smart ($35) or Premium ($55)
- No branches, no ATM cash deposit, no published RTP/FedNow or treasury API
Verdict
Live Oak Bank Business Checking
Live Oak Bank offers three online-only business checking tiers at Live Oak Banking Company (Member FDIC): Essential ($10, waived at $1k ADB), Plus ($25, waived at $25k ADB), Plus Analysis ($100, ECR offset unpublished). Fee schedule 7.21.25: unlimited items, $0 ACH/debit, $10 incoming wires, $19/$40 outgoing wires, $25 OD. Essential = QuickBooks, bill pay, mobile deposit. Plus adds wire origination, ACH collections/payments, EFTPS, RDC. No cash, no APY, no branches. Allpoint cash-out only. Optional IntraFi ICS ($350k min). Weak app ratings. $200 bonus expired Apr 2026.
Lili Business Account
Lili Business Checking is a four-tier digital SMB package from Lili App Inc. with deposits at Sunrise Banks, N.A., wires via Column, cash via Green Dot, and IntraFi sweep to $3M. Core $0; Pro $15, Smart $35, Premium $55 sell software not cheaper banking. Checking 0% APY; linked savings pays 2.25% to $500k and 4.00% $500k–$1M (Jan 13, 2026). ACH and MoneyPass ATM free; outgoing wires $15/$25+1%; Express ACH 1.5%. Team roles on all plans. Strong for digital SMBs and intl founders with U.S. entity; weak for cash-heavy ops and multi-currency treasury.