Score 9.1
Regulation FDIC
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Score 9.1
Regulation FDIC

What is Found?

Found is a banking solution designed specifically for self-employed individuals and freelancers. It offers an exclusive business checking account that allows for the separation of personal and business finances, streamlining tax payment obligations.

With Found’s business checking account, users receive their own account and routing numbers, and a Mastercard Business Debit card that can be utilized for local, online, and international transactions. The solution also integrates with various banking and business tools, including QuickBooks, PayPal, Lyft, and Venmo.

In addition, Found offers free financial tools that enable users to manage their business finances more efficiently, including tracking expenses and generating business reports. This review aims to evaluate the features and benefits of Found’s all-in-one banking solution.

Key Details

Founded
2019
Headquarters
San Francisco, USA
Users
Undisclosed
Regulation
Banking Services Offered by Piermont Bank, Member FDIC.
Rating
Found Key Details
Founded 2019
Headquarters San Francisco, USA
Users Undisclosed
Regulation Banking Services Offered by Piermont Bank, Member FDIC.

Found Pros & Cons

Pros
  • green-check-mark Automatic tax deduction feature simplifies tax tracking and payment.
  • green-check-mark Seamless integration with various banking and business tools including: Lyft, PayPal, Venmo, eBay, Stripe, and more.
  • green-check-mark No monthly fees, minimum balance requirements, or initial deposit requirements.
  • green-check-mark Complimentary bookkeeping software for managing finances.
  • green-check-mark No credit check required for account opening.

  • green-check-mark Cash deposit available at 79,000 locations for a $2 fee per deposit
Cons
  • Customer service can be unresponsive
  • No physical banking locations
  • Tax features not suitable for non-profits or S-Corporations
  • Not ideal for larger businesses or corporations.

Found Checking Features

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Financial Tools

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Found provides users with a suite of free financial tools that enable an all-in-one banking solution. Users can manage all aspects of their business finances, including banking and bookkeeping, from a single location. The desktop login, as well as the free iOS and Android app, allow users to manage their business from anywhere. In addition, Found’s financial tools include built-in tax and expense tracking tools, making it easy for users to categorize expenses, save receipts, and generate business reports.

Business Banking Solutions

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Found is a pioneering banking solution for freelancers and small business owners. Found’s business checking account is one of its most important features, allowing users to separate their personal and business finances. This simplifies finances and makes tax payment obligations easier. Found’s business checking account provides users with their own account and routing numbers and a Mastercard Business Debit card. Moreover, Found integrates seamlessly with a variety of banking and business tools, including Lyft, PayPal, Venmo, eBay, Stripe, and more.

Payment Options

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Found provides users with various payment options to facilitate seamless and efficient transactions. Users can link Found to their preferred payment apps, such as PayPal, Venmo, or Cash App, to enable quick and easy payments. The Found business debit Mastercard® provides users with access to virtual cards, free unlimited ACH transfers, and the ability to pay others seamlessly via phone number or email. Users can also receive direct deposits, allowing for early payment up to two days in advance. Found-to-Found payments are instant and free. Found also offers a cash deposit options for a $2 fee per deposit in 79,000 locations

Tax Savings & Payment Management

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The auto-save feature makes it easy to set aside the right amount for taxes with every payment, avoiding surprises and scrambling come tax season. Real-time tax estimates are updated with every new income or expense, ensuring you always know what you owe. In addition, Found helps identify write-offs for every purchase made with the Found card, maximizing the chances of saving money. Finally, tax paperwork is a thing of the past, as Found auto-generates the Schedule C form and facilitates tax payments directly from the app.

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Account Features

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This business banking service’s account features make it an affordable banking solution for small business owners and freelancers. There are no hidden fees or minimum balance requirements and no requirement for an initial deposit. Signing up for an account is simple and does not require a credit check. Users can conduct unlimited transactions to run their businesses as efficiently as possible. Additionally, Found offers complimentary bookkeeping software to assist users with managing their finances.

Easily Track Expenses

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The company offers an easy way to track business expenses and automatically categorize them to help identify write-offs and save on taxes. Found’s one-stop shop for accounting, managing invoices, running reports, and more can be done directly from the app, eliminating the need to juggle multiple applications. Found’s receipt capture and notes feature helps keep track of receipts, while powerful real-time reporting allows for keeping tabs on business finances with auto-imported activity into income, expense, and profit and loss reports.

Plans & Pricing

The pricing for the Found business banking platform is transparent and budget-friendly, with no monthly fees or hidden costs. This all-in-one banking solution is designed to help self-employed individuals and freelancers grow their businesses without worrying about unnecessary expenses. Additionally, there are no transaction fees, and all accounts are automatically protected by the FDIC for up to $250,000.

Found’s core features are free. Found also offers a paid product, Found Plus. For those interested in Found Plus, there are two pricing options available: a monthly subscription fee of $14.99 or an annual fee of $95.88, which provides nearly six months of savings. A 14-day free trial is also available without any payment required.

FAQ

Who qualifies to open a Found business bank account?

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Self-employed individuals and freelancers qualify to open a Found business bank account.

What types of documentation are required to open an account?

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Found does not require any documentation upfront. Complete the online registration with relevant information.

What is the process for opening a Found business bank account?

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Opening a Found business bank account is easy, with no credit checks, monthly fees, or minimum balance requirements. Users can sign up for an account through the Found website or mobile app. All customers must complete an online registration form. This includes name, address, nature of business, type of business, date of birth, SSN (Social Security Number), tax filing status, how much total income your business is projected to generate, how much income from other sources you estimate for the calendar year, adjustments, deductions, credits and more. Once inputting the information, you can choose your business debit card color.

How can I access my account at Found?

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Users can access their Found business bank account through the Found website or mobile app.

Are my funds protected at Found?

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Found takes security seriously and follows industry-standard practices to protect member data and finances. They encrypt databases, limit access to authorized personnel, and have 24/7 fraud monitoring. Their security program meets SOC 2 Framework criteria and is assessed annually by a third party. Payment partners are PCI-DSS certified, and accounts are FDIC insured up to $250K through Piermont Bank, Member FDIC.

Our Verdict

Found is a reliable banking solution that is particularly well-suited for sole proprietors. It offers a suite of features, including an exclusive business checking account with its own account and routing numbers, a Mastercard Business Debit card, and integration with various banking and business tools. Additionally, Found provides a suite of free financial tools, including built-in tax and expense tracking features and unlimited transactions with no hidden fees or minimum balance requirements.

Found is a straightforward and budget-friendly platform with transparent pricing, and all accounts are automatically protected up to $250,000 by the FDIC. Although some customers have reported concerns over security measures and unresponsive customer service, Found is a viable banking solution for those who prioritize convenience, affordability, and streamlined business operations, especially for sole proprietors.

User Reviews

5/5
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I was seeking a Financial Institution that provided a splendid banking experience without the hassle & hours that go into opening up a business bank account! While I was trying to Find that experience Found “Found” me, and provided me with little time invested in creating the Banking services I needed while allowing me to spend the precious time that really matters on growing my business.

By Darin Redding Mar 27, 2023
5/5
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I got my found acount to help keep track of my taxes.Now I know exactly what I owe everytime I put money into my acount because with found its Automatically put into its own account which I still have access to and I can switch moneys where I want it to be. In short, I’m a Happy customer, who received exactly what was advertised and more.

By Joey Rogen Mar 28, 2023

Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard®️ debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.