Found is a modern business banking platform designed for freelancers and entrepreneurs, offering innovative financial management tools and services.
At its core, Found integrates essential banking services with advanced financial management tools around taxes, bookkeeping, and more to create a seamless, all-in-one platform specifically for freelancers and entrepreneurs.
This Fintech company offers an innovative approach to banking that gives users more insights into their spending, earnings, and savings. With features like automated tax calculations, easy invoicing, and real-time expense tracking, Found is tailored to those who navigate the complexities of managing LLC finances alongside personal ones.
Pros
- Tailored financial services for freelancers and entrepreneurs.
- Automated tax savings account, tax estimates, and expense tracking.
- No required monthly fees (or hidden fees) for basic banking services.
- No overdraft fees, maintenance fees, or credit checks.
- Receive wire transfers.
- Easy integration with popular payment apps like Venmo, Square, Paypal, and Stripe.
- Funds in your account are FDIC-insured through Piermont Bank for up to $250,000 per depositor for each account ownership category*
- Get cash from an ATM that accepts Mastercard.
- Make cash deposits at convenient locations.
Cons
- No physical branch access, relying heavily on digital interactions.
- May not suit large businesses looking for a broad range of financial products.
- Some advanced features may come with additional costs.
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What Found accounts offers
Found’s suite of services is designed to cater to the unique demands of freelancers, entrepreneurs, and small business owners, providing them with the tools they need to manage their finances effectively and efficiently. Some of their offerings include:
- Online checking account: No minimum balance requirements or required monthly fees, emphasizing simplicity and accessibility for all users with a Found Mastercard.
- Automated tax savings: Helps set aside a portion of income for quarterly taxes, making tax season less daunting.
- Expense tracking: Automatically categorizes expenses for easy budgeting, cash flow management, and write-offs.
- Invoicing and payment processing: Simplifies billing and receiving payments with customizable invoice creation and direct deposit options.
- Mobile banking app: Access all banking features on the go, including mobile check deposits and real-time notifications.
Who is Found best for?
Found is the optimal financial partner for a specific demographic that values flexibility, efficiency, and innovation in its banking services. Primarily, it caters to freelancers, entrepreneurs, and sole proprietors who operate in the digital realm and require banking solutions that can keep pace with their financial needs. These individuals often face unique challenges, such as fluctuating income, the need for simplified tax preparation, and efficient expense management—all of which Found addresses with its tailored services.
The platform is especially beneficial for those who prefer the convenience of digital banking, combined with powerful tools that automate and simplify financial management tasks. Whether you’re a freelancer navigating the complexities of self-employment taxes or a small business owner looking for streamlined invoicing and expense tracking, Found is designed to support your financial journey.
The platform’s mobile-first approach ensures that users have constant access to their financial data, enabling real-time decision-making and financial oversight.
Why use Found?
There are plenty of banking options out there, but Found stands apart as an innovative and practical choice, offering freelancers, entrepreneurs, and small business owners a suite of tools designed to simplify and elevate their financial processes. Here are three reasons why Found is the preferred choice:
Financial automation
Found revolutionizes financial management by automating essential tasks, freeing up valuable time for users to focus on growing their business. With features like automated tax savings and calculations, expense tracking, and invoicing, Found streamlines the most tedious aspects of bookkeeping. By eliminating manual data entry and providing real-time insights into spending patterns, users can confidently make informed decisions, all while staying ahead of tax obligations without the headache.
Tailored banking
Unlike traditional banks that offer generic services, Found tailors its offerings to the unique needs of freelancers and entrepreneurs. From customized invoicing solutions to seamless integration with popular accounting software, Found provides tools that align with the modern professional’s lifestyle. By understanding the challenges and priorities of its target audience, Found ensures that every feature is designed to enhance efficiency, productivity, and financial well-being.
Cost-effective
With no monthly fees for basic banking services and a focus on providing maximum value to its users, Found offers a cost-effective alternative to traditional banking options. With banking services provided by Piermont Bank, member FDIC*, Found customers can bank with peace of mind.
Features
Found is known for its robust features, designed specifically for freelancers and entrepreneurs. Their comprehensive tools work together to simplify and streamline small business finances. Here are some of their most popular features.
Automated tax savings and calculations
Users can set aside a portion of their income for taxes with each deposit, ensuring they’re prepared when tax time rolls around. By seamlessly integrating tax calculations into everyday banking activities, Found eliminates the need for manual calculations and helps users stay on top of their tax obligations. They can even file their taxes from the app at the quarterly tax deadline.
Expense tracking and categorization
Business owners can easily monitor their spending and categorize expenses for better budgeting and financial management. The platform automatically categorizes transactions based on predefined criteria, such as business expenses, personal purchases, and recurring bills.
Invoicing and payment processing
Users can create professional invoices directly from their accounts, personalize them with their branding, and send them to clients with just a few clicks. Additionally, seamless payment processing allows users to accept payments directly through the platform, reducing the time and effort spent chasing payments and reconciling accounts.
Integration with accounting software
Found seamlessly integrates with leading accounting software, such as QuickBooks and Xero, providing users a holistic view of their financial health. By syncing transactions, invoices, and expense data across platforms, Found eliminates the need for manual data entry and reconciliation, saving users time and reducing the risk of errors.
Found app
From checking account balances to sending invoices and tracking expenses, the mobile app offers a seamless and intuitive user experience. Real-time notifications inform users of account activity, ensuring they never miss an important update or transaction.
Pricing
| Service | Price | Includes |
| Basic Banking Account | $0, no fees
|
Basic banking capabilities; instant deposit; expense management; tax savings; invoicing.
|
| Found Plus | $19.99 per month or $149.99 per year
|
Unlimited categories and custom rules; photo receipt capture; APY bonus on balance; priority customer support.
|
| Invoicing | Debit or credit card: 2.9% + $0.30
Direct debit: 1% Cash App Pay: 3.1% +$0.30 |
Found reviews
| Rating | Number of Reviews | Source | |
| Trustpilot | 4.6 | 346 | Trustpilot |
| Google Play Store | 4.7 | 9,800 | Google Play |
| Apple App Store | 4.8 | 14,000 | Apple Store |
Found vs. Competitors
| Found Bank | Novo | Relay | |
| Tax Savings | Yes | No | No |
| Checking | No monthly fees | No monthly fees | No monthly fees |
| Expense Tracking | Yes | No | Yes |
| Minimum to Open | $0 | $50 | $0 |
| Invoicing | Yes | Yes | No |
Disclaimer: Found is a financial technology company, not a bank. Business 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. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted. *Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
FAQs
Found employs advanced security measures, including encryption, multi-factor authentication, and continuous monitoring, to protect your account and personal information. Additionally, it has partnered with Piermont bank who is a member FDIC*, providing an extra layer of security and peace of mind.
Does Found offer business loans or lines of credit?
As of now, Found does not offer business loans or lines of credit. However, the platform does offer referrals to small business lending partners and continually evaluates and updates its offerings to best meet the needs of its users.
Are there any fees for using Found Business Banking?
Found prides itself on transparency and affordability. There are no monthly fees for basic banking services, including checking accounts and automated tax savings. However, certain premium features or additional services may come with associated fees.
Can I deposit physical checks into my Found account?
Eligible customers can deposit physical checks into their accounts using mobile check deposit. Simply use the mobile banking app to take a photo of the front and back of the check, follow the on-screen instructions, and the funds will be deposited into your account. You can check your eligibility for check deposits directly in your Found app. If you are eligible, you’ll be able to select Deposit a check from the Add Money button and submit a check deposit.
Does Found Bank offer cashback rewards on purchases?
Yes, Found offers cashback rewards on qualifying purchases made with its Mastercard business debit card. The cashback rewards program allows users to earn rewards on everyday spending, providing an additional benefit for using their Business Bank account for business expenses.