[Expired] [Important Update] Lili Bank $300 Business Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 8/30/24: Readers are reporting having their accounts closed for no reason.

Update 8/29/24: Terms state: To be eligible, new Lili Account customers must (i) be 18 years or older (or 19 in Nebraska or Alabama) who can form a legally binding contract and open a Lili Account and use the Services (as such terms are defined in the Sunrise Banks Account Agreement); (ii) be a legal resident of the fifty (50) United States or the District of Columbia. Lili App Inc. officers, directors, and employees and their immediate family members (spouse, parents, siblings, and children) are not eligible; and (iii) have applied for a Lili Account through one of the following websites: http://www.nerdwallet.com ; http://www.bestmoney.com ; or through a shared communication channel by Lili with Dun & Bradstreet. Conditions and Promotional Period

You can try this link from Nerdwallet. People that applied through this link are having the bonus attached via e-mail whereas the direct link are receiving an e-mail without the bonus attached.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Nationwide
  • Direct deposit required: No
  • Additional requirements:See below
  • Hard/soft pull: Soft pull
  • ChexSystems: No
  • Credit card funding: None
  • Monthly fees: None
  • Early account termination fee: Unknown
  • Household limit: None
  • Expiration date: October 25, 2024

The Offer

Direct link to offer

  • Lili Bank is offering a $300 bonus when you open a new business checking account and complete the following requirements:
    • Deposit $5,000 Within the following 30 days of opening your Lili account
    • Maintain a daily $5,000 balance For 60 days from depositing $5,000
    • Make at least 5 qualifying purchases Using your Lili Visa® Debit Card

The Fine Print

  • *Promotion Terms and Conditions: Eligible Participants: This promotion is non-transferable and limited to one offer per new Lili Business Deposit Account (Lili Account) customer, which for this purpose means a natural person who does not have an existing Lili Account in which they are the owner of a sole proprietorship account or an ultimate business owner of a legal entity account and has not had such an account open in the last twelve (12) months.
  • To be eligible, new Lili Account customers must (i) be 18 years or older (or 19 in Nebraska or Alabama) who can form a legally binding contract and open a Lili Account and use the Services (as such terms are defined in the Sunrise Banks Account Agreement); (ii) be a legal resident of the fifty (50) United States or the District of Columbia. Lili App Inc. officers, directors, and employees and their immediate family members (spouse, parents, siblings, and children) are not eligible; and (iii) have applied for a Lili Account through one of the following websites: www.nerdwallet.com ; www.bestmoney.com ; or through a shared communication channel by Lili with Dun & Bradstreet. Conditions and Promotional Period
  • : To be eligible to receive the bonus associated with this promotion, new Lili Account customers must 1) apply for and open a Lili Account between 12:00 AM ET on July 25, 2024 and 11:59 PM ET on October 25, 2024; 2), deposit $5,000 to their checking account within thirty (30) days of account opening and continue to maintain a minimum checking account daily balance of $5,000 for sixty (60) days from the date the account balance reaches the initial $5,000 deposit threshold; and 3) make a minimum of five (5) qualifying purchases using the Lili Visa® Debit Card issued to the new Lili Account customer.
  • A qualifying purchase is a point of sale purchase that is not returned or rescinded. Non-qualifying purchases include any internet purchases or any person-to-person, bank, or other electronic money transfers, such as those made through internet payment services.
  • Notification: If a new Lili Account customer meets all of the eligibility requirements and conditions of the promotion, the bonus will be deposited into their Lili Account by the tenth day of the month following the month in which the last requirement was met, provided that the account is not closed or suspended.
  • For the avoidance of doubt, any Lili Account suspended or terminated by Lili or terminated voluntarily by the new Lili Account customer before the bonus is paid is ineligible for the bonus. Miscellaneous: The bonus associated with this promotion may be considered interest and may be reported on IRS Form 1099-INT or other appropriate form.
  • The participant is responsible for any federal or state taxes resulting from the promotion. Participants should consult their tax advisor if they have questions about tax treatment.
  • Other terms and conditions of the Lili Account are disclosed in the participant’s Sunrise Banks Account Agreement. Offer and account opening subject to Sunrise Banks, Member FDIC, approval.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

Lili basic has no monthly fees to worry about.

Early Account Termination Fee

Wasn’t able to find a fee schedule so unsure if there is an early account termination fee or not.

Our Verdict

We have seen bonuses for the Lili personal account before but not for the business account. Looks like they are business accounts only now? I do think this bonus is worth doing and will add it to the list of the best bank account bonuses.

Hat tip to ChurnDaddyM

Useful posts regarding bank bonuses:
    William Charles
  • On August 29, 2024, 17:55
Tags: direct deposit not requirednationwide bank bonusesno credit card fundingsoft pull

View Comments (268)

  • Opened my account in July to use as a tool to push DD. Did not apply for a bonus offer. Used the account for a few small transfer per month the last couple months. Added a new bank to pull money from just received a notice they need to validate my ID, need a selfie with the ID and a bank statement for the recent account added. I have provided it as it is all legit but curious if other have been requested to provide the same info.

  • DP-
    9/16, account opened
    10/11, ACH push 5K
    10/22, Cash app loading 5 times
    11/24, completed debt card 5 times purchases
    12/9, 300 bonus posted
    12/10, last day of 5K maintained
    12/11, schedule transfer money out and leave account balance zero

  • DP from Pennsylvania:

    2024/08/29: Account opened.
    2024/08/30: Confirmed that the Nerdwallet promo was attached to my account via email with customer service.
    2024/09/08: Transfer from AmEx savings to Lili posts ($5).
    2024/09/25: Transfer from AmEx savings to Lili posts ($5000).
    2024/10/01: Transfer from AmEx savings to Lili posts ($100).
    2024/10/11: Two real in-person debit card transactions. Ending balance is $5047.
    2024/10/15: Transfer from AmEx savings to Lili posts ($100).
    2024/10/16: Three real in-person debit card transactions. Ending balance is ~$5122.
    2024/10/17: Three real in-person debit card transactions. Ending balance is $5082.
    2024/11/24: 60 days after $5000 amount is reached.
    2024/12/02: Started transferring money out of the account (68 days after $5000 limit was reached).
    2024/12/10: Bonus is supposed to post today ("the tenth day of the month following the month in which the last requirement was met"). No bonus yet.

    Based on the terms, I fulfilled all of the requirements. I'll give it a week or so and then will reach out via email again.

    • About the same timeline. No bonus even though they wrote that the promo is attached to my account. Did you get yours?

        • Update:

          2024/12/13: Sent an email to customer service. Got a response the same day: "We have escalated this concern to the appropriate team. I will update you as soon as possible."

          2024/12/20: I called customer service after receiving no additional email follow-up. They claimed that I met all of the requirements except depositing $5000 within 30 days of opening the account. I asked them what date I opened the account on their end (they said it showed August 29th) and if they saw my $5020 transfer post on September 25th. They said that they had "not scrolled that far back", apologized, and said that they would escalate it. Should hear back in 24-48 hours, maybe longer given the pending weekend and holiday.

          Stay tuned...

  • I opened my account on 8/30 and deposited 5k on 9/3.. made the 5 deposits a month later (as there was a debit card issue), no bonus so far. I have reached out to support several times but they keep ignoring me

    • @guest_1959254 have you tried calling them? You can use the chatbot feature when you login to get a phone number. See my comment after yours.

      • Public transport card reloads in person at machine. All >1$. I also had 3x coffee shop. I did 5 transactions in every month, which shouldn't be necessary, but I was just paranoid.

  • Can someone please confirm if Lilli Bank Business pulls Chex or not? I'm seeing mixed comments.

    • I opened the same day as you but have not received the bonus yet; can you share the date on when you made your initial $5K deposit?

      • Same but its 60 days from when deposit hit. Many like me waited for the purge before depositing. Check back after those 60 ish days

  • The terms have been updated and the promotion now expires on Dec 31, 2024

    *Promotion Terms and Conditions: Eligible Participants: This promotion is non-transferable and limited to one offer per new Lili Business Deposit Account (Lili Account) customer, which for this purpose means a natural person who does not have an existing Lili Account in which they are the owner of a sole proprietorship account or an ultimate business owner of a legal entity account and has not had such an account open in the last twelve (12) months. To be eligible, new Lili Account customers must (i) be 18 years or older (or 19 in Nebraska or Alabama) who can form a legally binding contract and open a Lili Account and use the Services (as such terms are defined in the Sunrise Banks Account Agreement); (ii) be a legal resident of the fifty (50) United States or the District of Columbia. Lili App Inc. officers, directors, and employees and their immediate family members (spouse, parents, siblings, and children) are not eligible; and (iii) have applied for a Lili Account through one of the following websites: http://www.nerdwallet.com ; http://www.bestmoney.com; http://www.cnbc.com/; or through a shared communication channel by Lili with Dun & Bradstreet. Conditions and Promotional Period: To be eligible to receive the bonus associated with this promotion, new Lili Account customers must 1) apply for and open a Lili Account between 12:00 AM ET on August 18, 2024 and 11:59 PM ET on December 31, 2024

  • what a joke of a "bank"
    Aug 29 - applied and instantly approved as SP
    Aug 30 - account closed via email notification for no apparent reason
    Sept 30 - debit card arrives (!)

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