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Our verdict

A business checking account designed for freelancers with built-in bookkeeping and tax tools.

Found is a free online business checking account that caters to freelancers and one-person businesses only.

Overall, the Found platform is automated business banking at its finest. It automatically categorizes business expenses to find tax write-offs, updating your tax estimate as you go. It then saves what you'll owe, minimizing surprises come tax season. With the Found+ plan, you can even file your quarterly estimated taxes straight from the app. While you won't get checkwriting privileges, you can do mobile check deposits.

Best for: Integrating banking and bookkeeping for freelancers and one-person businesses.

Pros

  • $0 monthly fee
  • $0 overdraft fee
  • Automated tools for taxes and write-offs
  • Track expenses and send invoices

Cons

  • No joint accounts
  • No checkwriting privileges
  • No outgoing wires

In this guide

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Who is Found best for?

If you’re a one-person business, freelancer or gig worker in need of banking and tax services, Found is for you. The account simplifies your day-to-day business by offering invoicing for clients, accepting card payments, tracking your expenses and finding tax benefits. Let the software automatically categorize your expenses and attach receipts to transactions as needed.

Before applying, keep in mind that Found only works with single-member businesses, so you can’t open an account if your business is run by more than one person.

Found Business Banking plans and cost

PlanMonthly feeFeatures
Standard plan$0
  • Track expenses and income
  • Create personalized invoices
  • Accept payments via credit or debit cards, cash apps or bank transfers
  • Preset categorization rules
  • Basic transaction reports
  • Email customer support
Found Plus$19.99 monthly or $149.99 annuallyStandard plan features plus:
  • 1.5% APY on balances up to $20,000
  • Unlimited custom bookkeeping rules
  • Custom expense categories
  • Automatically pull key details from photo receipts
  • In-depth reports, including categorization, receipts and notes
  • Pay federal quarterly taxes directly through Found

What we like about Found

Found takes away your need for multiple accounting tools or apps to keep track of business finances. And since you can tap all of its features through the app, we can see why it’s highly rated by thousands of customers.

Few fees

Found passes on fees for monthly maintenance and doesn’t require you to keep a minimum balance, unlike traditional business bank accounts like Chase. You also don’t have to worry about overdraft fees since Found automatically declines transactions that dip below your balance.

Bookkeeping

Found gives you the ability to invoice clients through an email or text message. Receive funds from a cash app, Stripe debit or credit card payments, or direct deposit. Additionally, it recently launched mobile check deposits, so you can scan paper checks with your Found app to deposit checks remotely.

The platform also automatically categorizes your expenses and write-offs and lets you use preset categorization rules to simplify categorizing. Plus, you can snap a photo of your receipts as you go to keep your records straight. Then, run expense reports detailing your transactions to use for your accounting.

Traditional business bank accounts don’t offer these tools, and you’d normally need separate banking and accounting services. Yet all-in-one business banking and accounting is more common with digital accounts.

For example, Lili is one of Found‘s direct competitors, offering automatic categorization as well as advanced tools with the Lili Pro account. However, Lili lets you set aside a percentage of revenue for taxes, a feature Found doesn’t offer.

Taxes

Found calculates what you need for estimated taxes and automatically sets it aside in your attached Found savings account, which earns no interest.

If you want your savings to earn interest, you’ll need to upgrade to its Found+ plan, where you’ll earn 1.5% APY on balances set aside for taxes and in your checking account up to $20,000.

Found+ also lets you file your estimated taxes directly from the Found platform. To file your estimated taxes, you’ll need to provide your tax filing status and estimated revenue for the year.

You typically find these tools woven into accounting software like Quickbooks but not your business bank account. While other digital business accounts like Lili provide tax tools, Found goes a step beyond by filing your estimated taxes directly from the app.

Where it falls short

Found is built for freelancers and one-person businesses, so you can’t open the account if you have partners who help you run the business.

Also, Found has transaction limits on transfers, ATM withdrawals and Found card purchases. Many other top business bank accounts offer unlimited transactions, such as Bluevine Business Checking, Novo Business and Relay.

On top of these downsides, you’ll need to look elsewhere if you want to earn interest on your balance. Many traditional and digital business accounts provide all of these features. For instance, Bluevine provides checks, ATMs, cash deposits and a 2% APY on qualifying balances.

Found Business Banking fees and limits

Type of fee/limitDetails
Monthly serviceNone
Opening depositNone
ATMs
  • Fees: $0 (some ATMs may add their own fee)
  • Withdrawal limit: Up to $550 for ATM withdrawals
Debit card feesInstant withdrawal fee: 1.75%
Overdraft or nonsufficient fundsNone
Invoicing
  • Stripe debit/credit card payments: 2.9% + $0.30/transaction
  • Checks: $0
  • Found-to-Found bank accounts: $0
Daily transaction limits
  • $5,000 for transfers to linked accounts
  • Up to $4,000 for Found card purchases and payment app transfers

Found also has daily transaction limits: $5,000 for transfers to linked accounts, up to $550 for ATM withdrawals, and up to $4,000 for Found card purchases and transfers for payment apps.

If you want to adjust those limits, you’ll have to apply for a limit increase.

Is Found Business Banking legit?

Although Found is a digital fintech company, it partners with Piermont Bank to provide banking services. Piermont Bank is insured by the Federal Deposit Insurance Corporation (FDIC), which means that your money is guaranteed up to $250,000 by the federal government in the case that it fails.

Found’s reviews and complaints

Found is an accredited business with the Better Business Bureau (BBB) and holds an A+ rating for responding to customer complaints. It has one review from a customer who was upset about an unauthorized withdrawal from a third party and didn’t receive a provisional credit from Found.

On the flip side, Found is much more beloved on the Apple and Google Play app stores. Over 3,300 iOS, users rate Found a 4.8 out of 5 stars, and nearly 2,500 Android users give the app an average 4.7 out of 5-star rating. While customers rave about its tax tools, they aren’t impressed with its limited deposit options.

Compare with other business checking accounts

Weigh the advantages and costs of Found against some of its top competitors.

Name Product Fee Annual Percentage Yield (APY) FDIC Insured Amount Software Integrations Account management Bank transfer fee Offer
Novo Business
Finder Score: 4.2 / 5: ★★★★★
Novo Business
$0 per month
N/A
Up to $250,000
Amazon, PayPal, Shopify, Square, Stripe and more
Online, App, Phone
$0
Found
Finder Score: 4.5 / 5: ★★★★★
Found
From $0 per month
1.50% on balances of $0 to $20,000
Up to $250,000
QuickBooks, Stripe, Cash App, PayPal, Square, etc.
Online, App, Phone
$0
Chase Business Complete Banking®
Finder Score: 3.8 / 5: ★★★★★
Bonus
Chase Business Complete Banking®
$15 per month
(can be waived)
N/A
Up to $250,00
N/A
Branch, Online, App, Phone
$0
Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
Relay
Finder Score: 4.8 / 5: ★★★★★
Relay
$0 per month
Up to 3.00% on balances of $1,000,000+
2.00% on balances of $250,000 to $999,999
1.50% on balances of $50,000 to $249,999
Up to $2.5 million
QuickBooks Online, Xero, Gusto, Plaid, and Yodlee
Online, App, Phone
$0
Bluevine Business Checking
Finder Score: 4.5 / 5: ★★★★★
Bluevine Business Checking
From $0 per month
4.25% on balances of $0 to $3,000,000
3.00% on balances of $0 to $250,000
2.00% on balances of $0 to $250,000
Up to $3 million
Cash App, Expensify, Quickbooks, Square, Wave, Wise, Venmo, and Xero
Online, App, Phone
$0
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How do I deposit or withdraw my money?

Access your money by:

Deposit options

  • Direct deposit
  • ACH transfer
  • Wire transfers
  • Payment processors, including Square and Stripe
  • Payment apps, including PayPal and Venmo
  • Mobile check deposits

Withdrawal options

  • ACH transfer
  • ATM withdrawals
  • Debit card purchases
  • Via payment apps like Venmo and PayPal

How to open a Found business bank account

Open a Found account by visiting the website or downloading the app. Unlike most other business bank accounts, you’re required to create the account under your name with your Social Security Number (SSN). However, your business’ Employer Identification Number (EIN) can be added later. You’ll need the following information to apply:

  • Your legal name and address
  • SSN
  • Date of birth
  • Revenue estimate for the year
  • Tax filing status
  • Tax information

How to contact Found customer service?

Get in touch with Found customer service in three ways:

    1. Call 888-845-0131 weekdays from 9 a.m. to 5 p.m. PST or 7 a.m. to 7 p.m. on weekends.
    2. Email help@found.com.
    3. Send a message by selecting the Help icon on its website.

If you call customer support, you must immediately enter your Found account number — and if you don’t enter your account number or don’t have one, the call will end automatically.

Frequently asked questions

What bank is Found affiliated with?

Found is a financial technology company, and its banking services are provided by Piermont Bank — member FDIC, so accounts through Found are insured up to $250,000. Piermont Bank is a woman-founded bank, based out of New York.

Where is Found located?

Found is an online fintech, so it doesn’t have any physical branch locations. The company itself is based out of California.

Can I deposit cash into my Found account?

Yes, you can deposit cash into your Found business account. To do a cash deposit, you can visit one of the 79,000+ retail locations nationwide. Using the Found mobile app, you can find a location to deposit cash by selecting Add Money, then Cash, then use the map to find a location near you. Know that there is a $2 fee for cash deposits, and the fee will be deducted from the amount deposited.

You can also deposit checks remotely. Open the mobile app then select Add Money, then Deposit a check, then take pictures of the check, and follow the prompts. Check deposits are typically available after five business days.

Business checking account ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze business checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, monthly transaction limits, overdraft fees, and wire transfers. Read the full methodology of how we rate business checking accounts.
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. Found’s core features are free. Found also offers a paid product, Found Plus.

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