Varo Money vs Lili.
Varo Money (V82/100) and Lili (L73/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Varo Money leads Lili 3-1.
| L Lili №24 · FDIC 73 /100 | V Varo Money №04 · OCC 82 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 73 /100 | 82 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Partner-bank FDIC | Full bank OCC |
| Deposit guarantee Per depositor | $250,000 US.FDIC | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | 4.7 ★ 1k reviews | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.6 ★ iOS 4.7 · And 4.4 | 4.6 ★ iOS 4.7 · And 4.5 |
| Read review → | Read review → | |
Pick Lili if…
The 1099-native US neobank — Tax Bucket auto-set-aside, pre-filled Schedule C / 1065 / 1120-S, and a quarterly tax estimator built into business checking. Where Mercury targets venture-funded startups and Bluevine targets lower-mid-market SMBs, Lili targets the solopreneur and 1099 freelancer who needs banking + bookkeeping + tax in one app. Sponsor bank moved from Choice Financial Group to Sunrise Banks, N.A. in 2024-2025; FDIC pass-through to $3M via sweep network now available on all tiers including the free Core plan.
Pick Varo Money if…
First US neobank to receive an OCC national bank charter (July 2020). Direct FDIC member — your money sits at Varo Bank, N.A., not a sponsor. Headline 5.00% APY savings rate on the first $5K with direct deposit — among the highest in the US neobank market.
- Best for fees Tied
- Best for protection Varo Money won 1 of 2
- Best for reach Tied
- Best for ux Tied
Varo Money vs Lili — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Lili better than Varo Money?
Under our v3 methodology, Varo Money leads Lili 3–1 across 12 dimensions. Composite scores: Lili 73/100 vs Varo Money 82/100. Varo Money is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Lili or Varo Money cheaper?
Monthly fee — Lili: €0; Varo Money: €0. Card FX markup — Lili: Interbank; Varo Money: Interbank. Tied across fee rows. See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Lili or Varo Money?
Lili holds a Partner-bank licence under FDIC; deposit guarantee per depositor: $250,000. Varo Money holds a Full bank licence under OCC; deposit guarantee per depositor: $250,000. Varo Money is the stronger pick on regulatory protection.
Where can I use Lili and Varo Money?
Lili operates in 1 country; Varo Money operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.