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
	Mobile App	5.0
	Customer Service	3.5

5-point scale (the higher, the better)

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Pros and Cons

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

• No free ATMs
• No APY with the free version
• Fee to deposit cash

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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 right 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, 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 ideal if you have W2 employees or have a multi-person LLC.

Not sure if Found is for you yet? Maybe the pros and cons will help you see if has what you need.

Found Business Banking Pros & Cons

Pros:

• No monthly fees; no minimum balance
  
• 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 free ATM network
  
• Low cash & check deposit limits
  
• No check writing
  
• No joint accounts
  
• No APY with the free version
  
• Fee to deposit cash

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

Found Banking Features (Free)

All Found users get access to these features:

Online business checking
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 write-offs, so you save as much as possible on taxes.

Real-time tax estimates
Found always keeps a real-time estimate of your current tax bill. Whenever you get paid or buy something, you'll see how much you now owe in taxes. No more being shocked at the amount!

Receipt capture
Found can automatically save receipts and notes. You can pull up old receipts easily and keep a clear record without the clutter.

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 time for your quarterly tax payment, you're already prepared.

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

• Banking, taxes, bookkeeping – all in one place
• Automatically find tax write-offs and save for taxes
• Track and categorize expenses with custom rules
• Free unlimited custom invoices
• Easy sign up; no credit check

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.

Click Here to Get Deal

That's not all Found offers. Read on.

Found Plus Features (Paid)

If you need a little more help with taxes and bookkeeping, Found's Plus plan offers more advanced benefits. You'll get:

Pay taxes from the app
This is one of the coolest features. If you've ever dreaded paying taxes, this can save you a lot of headache. Found Plus 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.

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.

Earn an APY on your account balance
As a Found Plus user, you can receive a very competitive 1.5% APY on balances up to $20,000.

Auto-import expense from receipt
Found Plus can automatically import expenses from your receipt. Just take a picture of your receipt, and let Found pull the key details and create an expense entry for you.

Priority customer support
With Found Plus's priority customer support, you can quickly connect with a live customer service agent and receive immediate assistance.

Found Plus Business Banking

• $19.99/month or $149.99/year
• Earn 1.5% APY on balances up to $20,000
• Auto-import expense from receipt
• Automatically find tax write-offs and track expenses
• Pay taxes directly from the app
• Free unlimited custom invoices
• Custom bookkeeping categories
• Priority customer support

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

Found has more unique features than other business checking accounts. If you're liking what it offers, next take a look at how much it will (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:^[3]

• ATM fee from the ATM owner (though Found itself doesn't charge a fee)
  
• International conversion fee
  
• 1.75% for instant transfers (max $25)
  
• 2.9% + $0.30 processing fee from Stripe if a client pays an invoice using a debit or credit card
  
• $2 fee per cash deposit at over 80,000 retail locations nationwide

If you upgrade to Found Plus, that will cost $19.99/month or $149.99/year.

Is Found 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.

The Found Plus plan has even better benefits. It's a pain to do your own quarterly tax payments, so it's great that Found can do it for you. Not having to stress over it alone could be worth the annual cost. As an additional advantage, Found Plus subscribers can earn an APY bonus on their account balance.

If Found sounds good to you, the next step is 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. Go here to start your application.

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

• Banking, taxes, bookkeeping – all in one place
• Automatically find tax write-offs and save for taxes
• Track and categorize expenses with custom rules
• Free unlimited custom invoices
• Easy sign up; no credit check

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.

Click Here to Get Deal

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 8 am to 5 pm PT
  
• 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.

	Visit Site	Visit Site	Visit Site
	Found	Lili	Bluevine
	SPECIAL OFFER Free Business Banking for the Self-Employed - Learn More	SPECIAL OFFER Free Checking Account for Small Business Owners - Learn More	SPECIAL OFFER Free Business Checking - Earn $300 Bonus - 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	4.25% APY for Premier customers, 3.0% APY for Plus customers, 1.5% APY for Bluevine Standard tier customers. No monthly fees, no balance requirements, and no overdraft fees for Bluevine Standard
Savings	Only includes a Tax Savings Account with auto-save feature	Emergency Bucket for all users; Lili Pro users also get an Emergency Bucket with 3.65% APY	No savings account, but you add 5 free sub accounts
APY	N/A	N/A	4.25% APY on balances up to $3M for Premier customers; 3.0% APY on balances up to $250,000 for Plus customers; 1.5% APY on balances up to $250,000 for Standard tier customers that meet monthly eligibility requirements
ATMs	Any ATM that accepts Mastercard; No ATM fees from Found, but owner may charge a fee	approximately 40,000 MoneyPass ATMs	approximately 40,000 MoneyPass ATMs
Cash Deposit Fee	$2	Up to $4.95	$4.95 per deposit at Green Dot locations or $1 + 0.5% of the deposit amount at Allpoint+ ATMs
Customer Service	Monday – Friday 9am – 5pm PST	Monday – Friday 9am – 7pm EST	Phone and email: Monday - Friday. 8 am to 8 pm EST
	Visit Site	Visit Site	Visit Site
	Free Business Banking for the Self-Employed Found Plus Business Banking	Free Checking Account for Small Business Owners Lili Pro Business Checking	Free Business Checking - Earn $300 Bonus Free Business Checking - Up to 1.5% APY Premier Business Checking - Up to 4.25% 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.

However, Lili's tax tools are only available with their paid plans, starting from $15.00/month.^[5] On the other hand, Found offers these features for free.

And Lili won't make your quarterly tax payments for you. This is offered with Found's paid plan, so it also beats Lili here if this is something you really want.

But a benefit is that Lili lets you sort your transactions as 'personal' or 'businesses'. So it could be better if you just want all your finances in one place.

Free Checking Account for Small Business Owners

• Sign up in 3 minutes; no credit check
• No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
• Automatic Savings
• Get paid up to 2 days early

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., 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 4.25% 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 Allpoint+ ATMs, 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.

Free Business Checking - Earn $300 Bonus

Click Here to Get Deal

Expires 12/31/2024

To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.

After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:

• Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
• Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
• Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®

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.

And if doing taxes is your biggest pain point, you may feel that Found Plus is worth it.

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

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