Moving your business banking to Lili does not have to mean updating every payment, payroll, vendor, and customer record by hand. Lili uses InstaSwitch to help you identify the business activity connected to your existing account and update it to your Lili account. The switch process can be triggered from within your Lili account once it is opened.

InstaSwitch reviews your recent account activity, creates a personalized switch list, and helps you update the places where your business sends or receives money. Some updates can be completed automatically. For others, InstaSwitch provides clear, step-by-step instructions.

You stay in control throughout the process. You approve each update and move your own money. InstaSwitch never holds, moves, or has access to your funds.

Note: This feature is currently in Beta stage, and available to select customers.

The basics

What is InstaSwitch?

InstaSwitch is a switching tool built into your Lili dashboard. It helps businesses move their day-to-day banking activity from an existing business account to Lili.

Typically, switching business bank accounts requires you to find every service tied to your old account, then update your bank information one service at a time. InstaSwitch helps simplify that process by identifying activity connected to your old account and organizing it into a single list.

You do not need to download a separate app, create another account, or use a second login to get started.

What does it cost?

Nothing extra. InstaSwitch is included with your Lili account at no additional cost.

How long does it take?

The active portion of a switch typically takes less than 15 minutes. Many automated updates can be completed in as little as 30 seconds each.

Some providers, such as payroll platforms and payment processors, may need one or two business days to verify your new account information. Transfers you initiate may also take time to settle.

Do I have to move everything at once?

No. You can review your switch list before taking action and remove anything you do not want to update, such as an old subscription or vendor you no longer use.

Your progress is saved as you go, so you can leave the switch flow and return later. You decide what to move, when to move it, and when to close your old account.

What InstaSwitch helps you update

InstaSwitch organizes your switch into five areas:

How do I start a switch?

To start, sign in to your Lili dashboard and open the business-account switching experience.

Note: The exact dashboard location and feature name are pending confirmation. Add the final in-product path here before publishing.

From there, you will be asked to connect or provide information from the account you are moving from. InstaSwitch will use that information to build your personalized switch list.

Connecting your old account

How does InstaSwitch review my old account?

You can choose one of two ways to provide recent account activity:

• Connect with Plaid: Use Plaid to securely connect your existing business account. InstaSwitch can review up to the last 120 days of activity to identify income, payroll, bills, vendors, and customers linked to that account.
• Upload statements: Upload recent account statements instead. This option does not require a bank connection or your online-banking login.

Lili also uses Plaid for certain external-account connections, so the account-linking experience may look familiar.

Does InstaSwitch store my bank login?

No. When you connect through Plaid, InstaSwitch does not see or store your bank login credentials.

If you choose to upload statements, you do not provide any bank credentials.

Does InstaSwitch see my Lili login?

No. You are already signed in to Lili when you start the switch, so there is no additional Lili sign-in step.

Your Lili account and routing numbers are shared with the switching flow through a secure connection. InstaSwitch does not ask for or receive your Lili password.

What if I use more than one old business account?

You can connect more than one account, including accounts at different financial institutions.

For example, you can connect multiple accounts through Plaid, upload statements for multiple accounts, or use a combination of both. InstaSwitch combines the identified activity into one switch list so you can review everything in one place.

What if Plaid cannot connect or my statement does not work?

Use the other option.

• If Plaid cannot connect to your financial institution, upload statements instead.
• If a statement does not produce useful results, you can build your list manually.

Each switch area includes a search bar that allows you to add an income platform, payroll provider, bill, vendor, or customer yourself.

Can InstaSwitch move money on its own?

No. InstaSwitch never holds, transfers, or moves your money.

It uses your recent activity only to help identify what should be updated. You initiate every transfer yourself, either from your old account or from Lili.

Does InstaSwitch automatically close my old account?

No. InstaSwitch cannot close your old account or take action at your previous financial institution on your behalf.

Keep your old account open and funded until you are confident that payments, deposits, payroll, and recurring charges have successfully moved to Lili.

Your switch list

What is the switch list?

Your switch list is a personalized list of operational activity associated with your old business account. It includes activity across:

• Income platforms
• Payroll
• Bills and subscriptions
• Vendors
• Customers

InstaSwitch builds the list from your recent account activity. You can review it, remove items you do not want to update, add missing items, and confirm the items you want to switch.

Reviewing the list typically takes less than two minutes.

Why is something missing from my list?

InstaSwitch generally reviews the last 120 days of activity. A tool, vendor, or customer may not appear if it has not had recent activity.

You can use the search bar in the applicable section to add a missing item manually.

If a guide is not yet available for a tool you use, you can request it from within the flow. InstaSwitch supports more than 350 guided updates, and missing guides are typically added within 24 hours.

Can I add something that is not in my transaction history?

Yes. Use the search bar in the appropriate category to add a tool, vendor, or customer manually, even if it did not appear in your account activity.

Completing the switch

What is the difference between automated and guided switches?

Online tools in your switch list are updated in one of two ways:

• Automated switch: The InstaSwitch Chrome extension updates your account information for you. Many automated updates take about 30 seconds.
• Guided switch: InstaSwitch gives you step-by-step instructions for updating your account information directly in the tool. Your Lili account and routing numbers are available with copy buttons, and the guide links to the relevant settings page.

InstaSwitch offers more than 35 automated updates and more than 350 manually verified guided updates for online tools.

If an automation cannot be completed, the guided instructions for that tool will appear automatically so you can continue without starting over.

Do I need administrator access to the tools I am switching?

Usually, yes. Updating bank details, billing information, or payment settings is generally an owner or administrator action.

Payroll providers are a common example. If you are signed in with limited permissions, the provider may not allow you to access its billing or bank-account settings. In that case, InstaSwitch will show a guide so you can complete the update after signing in with the appropriate access.

What is the Chrome extension?

The InstaSwitch Chrome extension supports automated switches.

It runs in your own browser and helps navigate participating tools to update your banking information. The extension acts only within the external tools you choose to update. It does not make changes inside Lili.

You will be prompted to install the extension the first time you start an automated switch. Installation typically takes less than 30 seconds and is only required once.

The extension is not needed for guided switches.

How do automated switches work?

For an automated switch:

1. You open the relevant external tool in your own browser.
2. You sign in to that tool yourself.
3. The Chrome extension navigates to the appropriate settings page.
4. The extension updates your account information using the Lili details you approved.

If the update cannot be completed, the guide for that tool appears automatically and the InstaSwitch team is notified.

Do I need to share my tool logins with InstaSwitch?

No. You sign in to each external tool yourself in your own browser.

InstaSwitch does not store your login information for payment platforms, payroll providers, subscription services, or other external tools. If a tool asks you to enter an email address, password, or verification code, enter it as you normally would.

What happens if an automated switch fails?

If an automated update cannot be completed, InstaSwitch automatically displays a guided version of the same update.

Automations may fail because an external tool has changed its website or because of account-specific requirements. For example:

• The tool may require you to finish setting up your account.
• You may need additional permissions.
• The tool may ask for a verification step.
• Your Lili bank details may already be saved, and the automation will not overwrite existing information.

The guided flow helps ensure you can still complete the update.

Why does my payroll update not show as complete right away?

Some payroll providers verify new bank details by sending two small test deposits, sometimes called micro-deposits. This verification may take one or two business days.

Once the provider confirms the new account, the status will show as complete. Your update is already submitted; the provider is simply completing its verification process.

Some payment processors use a similar verification process.

Funding your Lili account

How do I fund my Lili account?

You move the money yourself.

InstaSwitch may suggest an opening deposit based on your recent account activity and provide instructions to help you complete the transfer. You can change the suggested amount before moving money.

In Lili, go to Move Money, then Add Money. You can:

• Pull funds from a linked account held in the same name as your Lili account, or
• Use your Lili account and routing numbers to send funds from your old bank.

How is my recommended deposit calculated?

InstaSwitch uses your recent transaction history to suggest an amount intended to leave approximately one month of payroll and business spending in your old account.

This can help reduce the risk of a payment being returned while updates are still being completed.

If the suggested amount is $2,000 or less, InstaSwitch may suggest moving your full available balance instead.

You always choose the final amount.

Who sets limits on how much I can move?

Transfer limits are set by your financial institutions and the platforms you use to move money.

Your old bank, Lili, and any payment service involved may each apply its own transfer limits, review requirements, or processing times.

Will payments bounce from my old account?

The recommended deposit is designed to leave approximately one month of payroll and spending activity in your old account while you complete updates.

However, you remain responsible for monitoring the old account and ensuring it has enough funds to cover any remaining debits, subscriptions, payroll withdrawals, or payments that have not yet been moved.

Keep the old account open until you are confident that all activity has transitioned successfully.

Vendors and customers

How are my customers notified?

You choose which customers to notify and enter an email address for each customer.

When you select Notify, each customer receives an email with a secure, individual link to your updated Lili account details. You are copied on every notice.

The secure link is unique to each customer. Your account and routing numbers are not included directly in an email that could be forwarded or left exposed in an inbox. The link stops working after the customer confirms the update.

Can I import customers and vendors instead of entering them one at a time?

Yes. You can add customers and vendors in three ways:

• Connect QuickBooks and import them directly
• Upload a CSV file
• Add them manually

The CSV file does not need to follow a specific format. Matching is handled within the switch flow, and all imported or added contacts appear in one list for review.

What happens with my vendors?

Vendors are the businesses and contractors you pay. Their experience does not change.

Once your vendor list is in Lili, you can use the payment details you already have on file and pay vendors from Lili instead of from your old account.

Can I switch international vendors?

Not through the switching flow at this time.

The switch flow currently collects U.S. routing and account numbers for vendors. Vendors that require international payment details, such as a SWIFT, BIC, or IBAN, are not supported in the flow.

You can add those vendors directly in Lili. Lili supports international wire transfers for eligible legal-entity customers to and from select countries. Fees may apply.

Data and privacy

InstaSwitch collects only the information needed to help complete your account switch. It uses security controls designed to protect sensitive information and retains data only as long as needed for the service.

What information does InstaSwitch collect?

InstaSwitch collects the limited information needed to support your switch, including:

• Your name, business name, and email address
• Your bank account and routing numbers
• Recent transaction activity from a secure connection such as Plaid or from statements you upload

Your recent activity is used only to identify the income platforms, payroll providers, bills and subscriptions, vendors, and customers associated with your old account.

InstaSwitch does not request or store card numbers.

Does InstaSwitch see or store my financial data?

Sensitive account details are protected through a dedicated encrypted vault. InstaSwitch stores secure tokens rather than bank-account numbers themselves.

Your transaction history is used to identify activity that may need to be updated, then discarded. InstaSwitch retains only a limited summary needed to support your switch, such as identifying that your business receives payments through Stripe or runs payroll through Gusto.

Dollar amounts, transaction dates, and other raw transaction details are removed from that retained summary. Raw transaction data is not stored.

Where is my data stored, and who else handles it?

Your data is hosted on Amazon Web Services in the United States. Providers that support the switching service are U.S.-based.

Information is shared only when necessary to provide the switch, including:

• Plaid, to help link your existing accounts
• Secure providers that support encrypted storage and account-number vaulting
• Providers that help process statements you choose to upload

These providers are independently security audited and are contractually restricted from using your information for purposes other than providing the service.

Is my data used to train AI models?

No. InstaSwitch is contractually prohibited from using Lili customer data to train artificial-intelligence or machine-learning models.

Your data is not sold, rented, or used for advertising or marketing. It is used only to provide the switching service.

Does an AI model see my account number?

No. Account and routing numbers are stored in a dedicated secure vault.

No language model accesses those numbers. The process of entering account details during an automated update uses deterministic code designed to enter the approved information precisely.

How is my data protected?

Data is encrypted both in transit and at rest. Access is limited based on role and business need, and privileged access requires multi-factor authentication.

InstaSwitch has completed a SOC 2 Type II audit and uses continuous monitoring and independent penetration testing as part of its security program.

How long is my data kept?

Sensitive information is retained only as long as required to support your switch.

Sensitive details are automatically purged within approximately 120 days or when you disconnect your accounts. Upon request, InstaSwitch can return or destroy the data it holds.