What is Found?
Found is a banking solution designed specifically for small business owners. 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 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 | Headquarters | Users | Regulation | Rating |
|---|---|---|---|---|
| 2019 | San Francisco, USA | Undisclosed | Banking Services Offered by Lead Bank, Member FDIC. |  |
Pros & Cons
- Automatic tax deduction feature simplifies tax tracking and payment.
- Seamless integration with various banking and business tools including: Lyft, PayPal, Venmo, eBay, Stripe, and more.
- No required monthly fees, minimum balance requirements, or initial deposit requirements.
- Complimentary bookkeeping software for managing finances.
- No credit check required for account opening.
- Cash deposit available at 79,000 locations for a $2 fee per deposit
- Customer service can be unresponsive
- No physical banking locations
- Tax features not suitable for non-profits
Found Checking Features
Financial Tools
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
Found is a pioneering banking solution for 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
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
The auto-save feature makes it easy to set aside an estimated 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 have an estimate of what you will 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 tax forms such as a Schedule C or Form 1120/1120-S and facilitates tax payments directly from the app (for Schedule C filers)*.
Account Features
This business banking service’s account features make it an affordable banking solution for small business owners. There are no required monthly 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
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 required monthly fees or hidden costs. This all-in-one banking solution is designed to help small business owners 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 30-day free trial is also available without any payment required.
FAQ
Who qualifies to open a Found business bank account?
Eligible applicants include self-employed individuals, freelancers, and small business owners. Found accounts are designed to support entrepreneurs managing business income and expenses for their business or sole proprietorship.
Is any documentation required to open an account?
No documentation is required upfront. Simply complete the online registration with your business details to open an account.
What is the process for opening a Found business bank account?
Opening a Found business bank account is simple—there are no credit checks, monthly fees, or minimum balance requirements. You can sign up through the Found website or mobile app by completing a short online registration form. The form includes basic details such as your name, address, business information, and projected income. Once your information is submitted, you can choose your business debit card color.
How can I access my Found account?
You can access your Found business bank account anytime through the Found website or mobile app.
Are my funds protected with Found?
Yes. Found takes security seriously and follows industry-standard practices to safeguard your data and funds. Databases are encrypted, access is restricted to authorized personnel, and 24/7 fraud monitoring is in place. Found’s security program meets SOC 2 compliance standards and is audited annually by a third party. Payment partners are PCI-DSS certified, and all accounts are FDIC insured up to $250,000 through Piermont Bank, Member FDIC.
Our Verdict
Found is a reliable banking solution that is particularly well-suited for small business owners who want help with bookkeeping and taxes. 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 required monthly 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.