Novo
Worth it
Confidence: Medium
Buy if you are a freelancer or small business owner who wants fee-free checking with invoicing built in.
Comparison
Novo vs Small Business Banking Platform | Lili
Novo and Small Business Banking Platform | Lili both land on Worth it.
Small Business Banking Platform | Lili
Worth it
Confidence: Medium
Buy if you're a freelancer, solopreneur, or tiny business wanting fast, low-fee business checking with built-in tax help.
| Compare | Novo | Small Business Banking Platform | Lili |
|---|---|---|
| Verdict | Worth it | Worth it |
| Best for | Freelancers invoicing clients monthly | Freelancers and solopreneurs |
| Who it's not for | Businesses needing cash deposits or branches | Mid-market companies needing treasury or multi-entity controls |
| Privacy | No known public vulnerabilities found in the sources reviewed. | No known public vulnerabilities found in the sources reviewed.14 |
| Support quality | Users report no phone number for support | 83% rate 9-10, but rating is self-reported |
| Public sentiment | Users praise the simple, fee-free app but repeatedly complain about the lack of phone support.⁵ | Public user feedback is limited to testimonials on Lili's own site plus one third-party review.11 |
| Biggest gotcha | No phone support; a user says issues go unresolved, costing a 1-star review⁶ | Pricing messaging conflicts: one page says $0 monthly fee, another shows $18/mo for 3 months, then $30/mo after trial⁹ |
Pick Novo when
- Freelancers invoicing clients monthly
- Solopreneurs wanting fee-free checking
- Mobile-first small business owners
- Businesses paying contractors via ACH
When Novo is not a fit
- Businesses needing cash deposits or branches
- Anyone who needs phone support when things break
- Companies wanting deep bookkeeping in their bank
- Larger teams needing treasury or multi-user controls
Pick Small Business Banking Platform | Lili when
- Freelancers and solopreneurs
- First business bank account
- Cash-heavy retail businesses
- Owners wanting built-in tax help
When Small Business Banking Platform | Lili is not a fit
- Mid-market companies needing treasury or multi-entity controls
- Anyone who wants in-person branch banking
- High-volume international wire senders
- Buyers demanding third-party-verified reviews
Sources
- Novo homepagenovo.coofficial
- Novo Business Checking: 2026 Review . NerdWalletnerdwallet.comreview
- Novo Review . US Newsusnews.comreview
- Novo Business Banking Review . Airwallexairwallex.comreview
- Novo . App Storeapps.apple.comreview
- Novo . Google Playplay.google.comreview
- Trustpilot reviews of novo.cotrustpilot.comreview
- Novo raises $125M Series B . LinkedInlinkedin.comnews
- About Us - Lililili.coofficial
official
- Customer Support - Lililili.coofficial
- Line of Credit - Lililili.coofficial
- Security FAQ - Lililili.cosecurity
- Support & Security - Lililili.cosecurity
- Lili Banking 2026 Review - MoneyRatesmoneyrates.comreview