Found Overview

Found is an all-in-one business banking tool to help manage your company or freelance finances. It has no hidden fees or minimum balances. Found features a host of easy-to-use features, like estimating and auto-saving for taxes, bookkeeping, and invoices, and it can connect with other banking/business software. Signing up is quick and easy compared to many other business bank accounts, and the company takes security very seriously.

Found at a Glance

Suitable For?

Found is best suited for the self-employed, Ecommerce businesses, and gig workers. It’s a straightforward and streamlined account that serves as a one-stop shop for keeping on top of your company finances, with expense tracking, invoicing, tax planning, and bookkeeping features built in.

It’s also a great choice for businesses looking for an account without required fees that doesn’t sacrifice features, support, or security. However, the low deposit and withdrawal limits may turn off larger companies.

Features/Highlights

Advantages over traditional banks

The main advantage compared to traditional banks is that Found’s business account has no monthly fee. While some banks offer no-fee accounts, they generally have a minimum balance requirement, which isn’t the case with Found.

Unlike with some traditional business bank accounts, direct deposit funds may be available for use 2 days before the scheduled payment date.

The straightforward signup process (with no credit check needed) is also much easier than with most traditional banks, which usually take longer and ask for more information.

Found also offers built-in bookkeeping and tax support, as well as pockets—sub-accounts that let users manage and organize their business income in a way that big banks don’t.

Cutting-edge banking services

Found has a selection of cutting-edge banking services that help streamline your business banking. The user-friendly app allows you to manage your account on the go with features like remote check deposits, invoice creation and tracking, business insights and reporting, and more. It even lets you freeze your card if you lose it or notice any suspicious activity.

Your Found account comes equipped with additional bookkeeping features that enable you to track your expenses, save your receipts, and generate real-time income and profit/loss reports. Found also auto-saves for your taxes, shows you tax estimates, and tracks write-offs. You can even pay your taxes right from the app.

Found also lets you seamlessly connect with other apps and gives you full online account access. Some of the tools that Found integrates with include QuickBooks, Stripe, and Venmo.

Traditional banking services

Like traditional banks, Found provides a business debit card that you can use in person or online. In addition to the one physical debit card, you can also have multiple virtual cards for different categories of spending. One could be for subscriptions, one for purchasing materials, one for travel, and more.

Found lets you withdraw funds from any ATM that accepts Mastercard. While Found won’t charge you for this, some ATMs may have their own fees. The company lets you deposit cash too, but it deducts a $2 fee from the deposited amount.

Interest rates and fees

The Found business bank account has no monthly or overdraft fees and no minimum balance requirement. It doesn’t charge for transfers to and from your account, sending payments, or creating invoices, either. The only fee Found charges is 1.75% for instant fund withdrawals.

While the basic Found business bank account doesn’t have a monthly fee, the company offers a premium plan called Found Plus. This costs $19.99 a month or $149.99 annually. It includes all the features of Found, with the added benefits of priority support, premium tools, and 1.5% APY on balances up to $20,000.

Customer service and online experience

Found customer support is available via email at help@found.com, over the phone at 888-845-0131, in the Found app, and through live chat on the website. The hours for customer service are as follows:

Phone: 8am-5pm (PT), Monday-Friday

Via email: 7am-5pm (PT), Monday-Friday; 7am-3pm (PT) on the weekend

In-app chat: 8am-5pm (PT), Monday-Friday

The user-friendly website contains a large help center with answers to dozens of FAQs, such as how to fund an account, how to send invoices, and others. The site also has a comprehensive resource center with several articles about business banking, industry trends, taxes, and more.

Found gets generally positive reviews and has a 4.7 rating on Trustpilot. In particular, these user reviews highlight the seamless process for getting started and how clear and easy the various features are to use and understand.

Mobile app

The Found mobile app is clean, streamlined, and very user-friendly. It offers several standout features, like tracking and categorizing expenses, sending invoices, running reports, depositing checks remotely, and many others.

The app is available on both iOS and Android devices. It has a 4.8 rating on the Apple App Store and a 4.7 on the Google Play Store, with thousands of reviews on each.

Security

Found supports both 2-factor and biometric authentication and follows industry-standard best practices to protect your data. It uses AES-256 encryption for a secure infrastructure. The company also has 24/7 fraud monitoring that alerts both you and dedicated compliance teams about any suspicious activity.

The team frequently reviews its security processes and updates procedures to ensure sensitive information is always as safe as possible. Found also has a detailed privacy policy that includes information about what data it collects, how it uses and shares it, and how it protects it.

Found provides FDIC insurance, which protects your deposit accounts for up to $250,000 in the case of a bank failure. However, keep in mind that Found is a financial technology company, and the provider of the banking services/FDIC insurance it offers is Piermont Bank.

Application Process

The application process with Found is fast and easy, as it’s designed for single-owner businesses, self-employed individuals, and freelancers. As a result, many of the usual documents aren’t generally required, and there’s no credit check. To apply with Found, you only need to provide:

• Your name and address
• Date of birth
• Social security number
• Phone number and email
• Basic business details (like how long you’ve been operating and your industry)
• Information to estimate a tax bill (such as income, tax filing status, and more)

Once Found approves your application and you open your account, you’ll get your business debit card in the mail within a week.

Found Summary

Found is a great business banking option with no required fees, no overdraft fee, and no minimum balance to maintain. It links with many leading business and banking tools, offers 24/7 fraud monitoring, and it’s easy to get started. Add in the other features like taxes and bookkeeping, and you have a solid all-in-one option for Ecommerce, gig workers, and the self-employed.

Disclaimer

Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.

Found's core features are free. Found also offers a paid product, Found Plus.

The Found Mastercard debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.

The information on this website is not intended to provide, and should not be relied on, for tax advice.

Direct deposit funds may be available for use for up to 2 days before the scheduled payment date. Early availability is not guaranteed.