Found Business Banking Review

Found Business Banking offers helpful tax and invoicing tools for self-employed people. But it lacks other basic features. Here's what you need to know.

	Free Business Banking for the Self-Employed Get Deal
	Overall Score	4.3
	Savings	3.0
	Minimum Deposit	5.0
	Checking	5.0
	Customer Service	3.5
	Mobile App	5.0

5-point scale (the higher, the better)

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Pros and Cons

• No monthly fees
• Built-in tax tools
• Unlimited invoicing

• No cash or check deposits
• No free ATMs

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Bottom Line

Free business banking app with good tax tools, but lacks some basic features

Do you struggle with taxes as a freelancer or small business owner?

Found may be just what you need.

It has automated tools to help you track expenses and prepare for taxes. Plus, there's no monthly fee or credit check.

Keep reading to see if Found is the right bank for you.

What is Found Business Banking?

Found is an online business checking account that combines banking, bookkeeping, tax tools, and invoicing, all in one app. That means you don't need to juggle multiple apps or pay for additional services. It's designed for freelancers and other self-employed individuals.

Also, it has built-in tools to help you track write-offs and save for taxes. It can even make tax payments for you (more details later).

But Found has its downsides too. For example, you can't deposit cash or checks. And it doesn't have a fee-free ATM network.

Now that you know what Found is, you'll want to know if it's suitable for you. Let's talk about that next.

Who is Found Best For?

Found is best for those who:

• Are a freelancer, gig worker, or one-person business
  
• Struggle with doing taxes and tracking business expenses
  
• Handle all payments digitally
  
• Don't need to visit physical branches

Found is NOT a good choice if you get paid by checks from clients (as it currently doesn't have mobile check deposit) or need to deposit cash.

Say, you're one of those mentioned above. You'll want to hold off signing up for Found without taking note of the pros and cons.

Found Business Banking Pros & Cons

Here's an overview of the pros and cons.

Pros:

• No monthly fees
  
• No overdraft fees
  
• Track business expenses
  
• Auto-save for taxes
  
• Unlimited free invoicing
  
• Integrates with business apps, like Stripe, Etsy, and PayPal
  
• No credit check

Cons:

• No cash deposits or check deposits
  
• No free ATM network
  
• No check writing
  
• No wire transfers
  
• No joint accounts
  
• No APY for savings

Now let's take a more detailed look at the features.

Found Banking Features (Free)

All Found users get access to these features:

Fee-Free business banking
The Found business checking account has no monthly fees, no overdraft fees, and unlimited transactions. You get a business debit Mastercard and up to 10 virtual cards.

Also, your account can be connected to apps like Etsy, Stripe, Square, Uber, and Lyft. And if you set up direct deposit with clients or gig platforms, you can get paid up to 2 days early.

Write-off tracker
Found will automatically track and categorize your business expenses. It helps you find tax deductions, so you save as much as possible on taxes.

Real-time tax estimates
Found always keeps a real-time estimate of how much your current tax bill is (based on your income and deductions). No more being shocked at the amount!

Auto-save for taxes
Every time you get paid, Found will automatically put aside the right amount into a Tax Savings Account. When it's tax time, you already have saved up for it, so it won't feel like a burden.

Unlimited invoicing
You can send unlimited custom invoices with your logo and colors. It lets you send one-time invoices or set up recurring billing.

Do you dread chasing down payments? Found can take care of that and send reminders to your clients.

Auto-generated tax forms
Found also auto-generates a Schedule C. If you do your tax return yourself, you just need to copy the numbers. Or share with your accountant if you use one.

Free Business Banking for the Self-Employed

• $0 monthly service fees or minimums
• Automatically find tax write-offs and track expenses
• Auto-save for taxes
• Free unlimited custom invoices
• Easy sign up; no credit check

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, Member FDIC

Click Here to Get Deal

That's not all the features of Found. Read on.

Found Plus Features (Paid)

Found offers a Plus plan with more advanced features.

These features include:

Pay taxes from the app
This is one of the coolest features. We all know what a pain paying taxes is. But if you have Found Plus, it can make your quarterly tax payments for you directly to the IRS.

It'll use the funds in your tax account to pay on your behalf. You don't need to worry about missing deadlines and IRS penalties.

Receipt capture
Found Plus can automatically save receipts and notes. You can pull up old receipts easily and keep a clear record without the mess in your drawer.

Unlimited custom categories
You can create custom categories to track your expenses (for example "client gifts" or "business coach"), whereas basic Found users only get pre-set categories.

Export bookkeeping details
The basic Found account lets you export transaction data. Found Plus also lets you export all the categorizations, receipts, and notes associated with your transactions.

Are you more convinced with signing up for Found? Take a look at how much it can (or won't) cost you.

Found Fees & Limits

The standard Found business checking account has:

• No opening deposit
  
• No monthly service fee
  
• No minimum balance requirement
  
• No overdraft fee

Some fees you may encounter are:^[2]

• ATM fee from the ATM owner (though Found itself doesn't charge a fee)
  
• International conversion fee
  
• 2.9% + $0.30 processing fee from Stripe if a client pays an invoice using a debit or credit card

If you upgrade to Found Plus, that will cost $14.99/month, or $95.88/year.

Okay, by now you might be sure to open an account. Here's a guide to help you get started.

How to Open a Found Account

It takes just a few minutes to apply for a Found account.

Here's what you'll need to provide:

• Legal name and address
  
• Social Security number
  
• Email and phone number
  
• Tax filing status
  
• Estimated business income

Found is open to all business structures. You have to sign up with an SSN. Once your account is open, you can add your EIN.

After you're approved, it can take up to seven business days for your Found debit card to arrive. But you can use a virtual card while waiting.

Free Business Banking for the Self-Employed

• $0 monthly service fees or minimums
• Automatically find tax write-offs and track expenses
• Auto-save for taxes
• Free unlimited custom invoices
• Easy sign up; no credit check

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, Member FDIC

Click Here to Get Deal

Maybe, you're not too sure with opening an account. Here's a little more nudge to help you decide.

Is Found Business Bank Worth it?

Since Found has no monthly fee, it's definitely worth checking out. But it's only good for specific kinds of self-employed people, such as freelancers, app-based gig workers, and online-only small business owners.

It's especially good if you struggle with doing taxes. Found can make your life a lot easier by doing the more tedious work, like tracking write-offs and filling out tax forms.

Keep in mind that its best features are only available with the Plus plan. It's a pain to do your own quarterly tax payments, so it's great that Found can do it for you. But you'll have to decide if this feature is worth the fee.

Have more questions? You can always contact them first.

Found Customer Service

Even though Found doesn't have a physical location, you can still get in touch with them in these ways:

• Call 888-845-0131 on weekdays from 9 pm to 5 pm PST
  
• Email help@found.com
  
• Send a message through the Help icon on their support page

If you think that Found may not be enough for your needs, there are always alternatives to look into.

Found Alternatives

Here's how Found compares against other popular small business accounts.

	Found	Lili	Bluevine
	SPECIAL OFFER Free Business Banking for the Self-Employed - Learn More	SPECIAL OFFER Free Checking Account for Sole Proprietors and Single-Member LLC - Learn More	SPECIAL OFFER Business Checking - Up to 2.0% APY - Learn More
	Benefits and Features
Checking	No monthly fees; no minimum balane fees; no overdraft fees	No monthly fees; no balance requirements; no overdraft fees; no foreign transaction fees	Up to 2.0% APY. No monthly fees; no balance requirements; no overdraft fees
Savings	Only includes a Tax Savings Account with auto-save feature	Tax Bucket only for all users; Lili Pro users also get an Emergency Bucket	No savings account, but you add 5 free sub accounts
APY	N/A	N/A	2.0% APY on balances up to $100,000 for customers that meet monthly eligibility requirements
ATMs	Any ATM that accepts Mastercard; No ATM fees from Found, but owner may charge a fee	38,000+ MoneyPass ATMs	37,000+ MoneyPass ATMs
Cash Deposit Fee	N/A	$4.95	$4.95
Customer Service	Monday – Friday 9am – 5pm PST	Monday – Friday 9am – 7pm EST	Phone and email: Monday - Friday. 8 am to 8 pm EST
	Free Business Banking for the Self-Employed Found Plus Business Banking	Free Checking Account for Sole Proprietors and Single-Member LLC Free Checking Account for Sole Proprietors and Single-Member LLC Free Checking Account for Sole Proprietors and Single-Member LLC	Business Checking - Up to 2.0% APY Open a Free Business Checking Account Business Checking - Up to 2.0% APY

Found vs Lili
Lili is the closest alternative to Found. It also has tax tools, including a write-off tracker and auto-tax savings account.

Unlike Found, Lili lets you make cash deposits at over 90,000 Green Dot locations (with a small fee). You can also accept mobile check deposits. That means it's a better option if you still deal with paper payments.

However, it won't make your quarterly tax payments for you. So Found beats Lili here if this is something you really want.

Also, Lili doesn't offer invoicing features for the basic account. That's only for Lili Pro members (which cost $9.00).^[4] On the other hand, Found offers unlimited invoicing for free.

Free Checking Account for Sole Proprietors and Single-Member LLC

• Sign up in 3 minutes; no credit check
• No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at 38,000+ locations
• Auto save for taxes
• Track write-offs with a swipe
• Prefilled annual Schedule C

Banking services provided by Choice Financial Group, Member FDIC

Click Here to Get Started

Found vs Bluevine
Bluevine is a popular online business checking account with a high-interest rate. You can earn up to 2.00% APY, which is great for growing your funds.

Even though it's online-only, it has features that also work for small physical businesses. It allows for cash deposits at Green Dot, and you get 2 free checkbooks per year.

You also get 5 free sub-accounts with their own account numbers. That lets you better organize and manage your budget (whereas Found only has one tax savings account).

However, Bluevine is more of a DIY account. There are no auto-tax tools, so you'll have to keep track of things yourself.

Business Checking - Up to 2.0% APY

Click Here to Get Deal

• 2.0% APY on your balance up to $100,000 for customers that meet monthly eligibility requirements
• $0 minimum opening deposit
• $0 monthly service fee

Banking services provided by Coastal Community Bank, Member FDIC

Bottom Line

Found is a good choice for freelancers and small business owners who operate completely digitally. Most business checking accounts don't have integrated accounting and tax tools. But Found offers these features for free.

Lots of modern businesses don't need traditional features (like cash or check deposits). If that's you, then Found can be a great all-in-one banking app for your self-employment journey.

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