-- Lili, the online business banking platform that has served more than 200,000 US businesses, offers small businesses up to $3 million in FDIC insurance on their deposits. The coverage, provided through Sunrise Banks, N.A., Member FDIC, and a network of sweep program banks, is 12 times the standard $250,000 limit and requires no separate application, minimum balance, or premium plan.
Small businesses rarely think of themselves as holding large balances, but operating cash adds up quickly once a company has employees. A business with a payroll buffer, a tax reserve, and cash set aside for inventory or a slow season can move past $250,000 without changing how it banks. Before expanded coverage, the standard way to protect those balances was to open and manage accounts at several banks.
The risk is not theoretical. When Silicon Valley Bank failed in March 2023, more than 90% of its deposits exceeded the insured limit, and many of those depositors were small and midsize companies that needed their cash to make payroll.
How the coverage works
Lili places customer deposits with Sunrise Banks, N.A. and, through a sweep network, distributes balances across multiple FDIC-insured program banks. Each program bank insures up to $250,000 per depositor, per ownership category, which allows a single Lili account to carry up to $3 million in combined coverage. Customers manage one account, one login, and one set of statements.
Included on every plan
Expanded coverage applies to all Lili plans, including Lili Core, which has a $0 monthly fee and no minimum opening deposit. Core accounts also include business checking with a Visa debit card, ACH and wire payments, multi-user team access, and integrations with tools such as QuickBooks, Xero, Gusto, Stripe, and Shopify. Businesses can review coverage details and plan features on Lili’s business banking platform page.
Deposits held in the Lili Savings Account are covered under the same structure. The account pays 2.25% APY on balances up to $500,000 and 4.00% APY on balances above $500,000 up to $1 million, with daily earnings and no lockups.
Who it is built for
The coverage is aimed at growing US small businesses with employees and larger operating balances, including companies that hold payroll reserves, prepaid client funds, seasonal inventory cash, or proceeds from a funding round. Lili accepts LLCs, corporations, partnerships, sole proprietors, and non-profits, as well as non-US founders operating a US-registered business.
About Lili
Lili is an online business banking platform for US small businesses, offering business checking with no monthly fee on its Core plan, high-yield savings, FDIC insurance up to $3M, access to capital through partner lenders, and integrated financial tools including invoicing, bookkeeping, and tax savings. Lili has served more than 200,000 businesses across the United States.
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. FDIC insurance only covers the failure of an FDIC-insured bank. The standard FDIC deposit insurance limit is $250,000 per depositor, per FDIC-insured bank, per ownership category, through Sunrise Banks, N.A. and the sweep program banks. The Annual Percentage Yield (APY) for the Lili Savings Account is variable and may change at any time; disclosed APY is effective as of January 13, 2026. 2.25% APY applies to balances up to and including $500,000; 4.00% APY applies to balances over $500,000 and up to and including $1,000,000; any portion of a balance over $1,000,000 earns no interest. Available on all Lili plans.
Contact Info:
Name: Marisa Fine
Email: Send Email
Organization: Lili
Address: New York, USA
Website: https://lili.co/
Release ID: 89208148
Google
RSS