Yes, Lili customers can send domestic wire transfers to their vendors and other payees.
By using Lili’s outbound domestic wire transfer feature, your payee will receive the funds within minutes.
To initiate an outbound domestic wire transfer:
- Sign in to the Lili App (Web or Mobile)
- In the left panel, choose
- Send Money > Wire Transfer or
- Bill Pay > Wire Transfer
- Choose the payee*
- Enter the amount**
- Review and Confirm (any comments entered into the note field will go to the receiving bank)
- Enter MFA code sent by SMS to the Lili account owner’s mobile phone
- If the MFA code is entered correctly, the customer will receive a success screen
*When choosing the payee, if the payee is an existing contact in the Lili customer’s contact list, but the wire routing and account number information are missing, you will receive an error asking you to provide the missing information. The physical address of the payee is also mandatory. If there is no contact, you can create a new one (similar to invoicing and ACH out).
**You will receive an error if the transfer amount is higher than your current account balance or the available wire transfer limit.
Fee: There is a fixed fee no matter what amount is entered for the wire transfer. For more information about this fee, please see Lili’s Terms and Conditions, Schedule of Fees.
Transfer time: Wire Transfers are only sent during business hours. If you initiate the transfer on a Saturday, it will not go out until Monday morning. When you click on Confirm, and it was initiated during business hours, the wire transfer will be received by the payee’s bank within minutes. It is then up to the receiving bank to place the funds into the payee’s account.
Note: The outbound domestic wire transfer feature is only available for Lili business deposit accounts opened through Sunrise Banks, N.A., Member FDIC (Lili account number begins with 69).