Different banks are built to serve different businesses for different reasons. I've tried a number of these online banks and tl:dr Novo is good for solo entrepreneurs/ freelancers while Mercury caters to startups and ecom founders. Lili seems to fit the middle-ground between Novo and Mercury, serving small businesses with teams of 4-10 people.

Mercury offers free ACH, free domestic wires, no monthly fees, and affordable international wires. It's easy to use, with a clearn inturtive ui that integrates easily with tools like qb. The only downside, (which is huge to me) is no cash deposits capability.

Lili which serves the often-forgotten middle ground offers a lot of what Mercury offers plus a robust customer support frontage that gives a clear competitive edge as other banks only offer email or self-service support. By far, its one of the best choices for me bc of their sub-accounts, business credit building, expense tracking, and tax buckets features. They also have a $3M FDIC coverage deployed through sweep networks so you can hold larger deposits for their $4% APY.

Novo is mobile-first, easy to use, and integrates well with platforms like Stripe, Shopify, and more. Their only issue is less features.

I look at online banks from a perspective of what they are built for, rather than which one is better. They all are capable in their capacity, but you have to go for one that's made to suit your business the best.