Found Business Checking Review: Top Choice for Freelancers’ Business Banking in 2024

Last Updated on August 25, 2023 by Harrison Brown
9.4/10 (Expert Score)
Product is rated as #3 in category Business Banking
9.4Expert Score
Freelancer's Top Choice

Found's business checking account offers an excellent solution for freelancers seeking user-friendly business banking services. With a free account option, handy expense tracking, and seamless integration with popular apps, it stands out in the competitive banking landscape. While it may not suit larger businesses or those seeking interest-earning accounts, it's a top choice for freelancers and small business owners in 2023.

Ease of use
Customer support
  • No required monthly fees or minimum balance
  • Freelance app integrations
  • Customizable invoicing capabilities
  • No check-writing features
  • No physical locations

What is it?

What is Found Business Checking?

In today's fast-paced business world, freelancers, gig workers, and self-employed individuals require reliable and efficient banking services tailored to their unique needs. Found business banking is one such platform designed specifically for these individuals.

This comprehensive review and comparison will cover Found's services, monthly fees, pros and cons, and how it measures against its competitors.


Found Business Checking Features

Found Checking Account

The Found checking account is designed for freelancers, gig workers, and self-employed individuals. With this account, users can easily manage their business finances, make payments, and transfer funds.

Moreover, there are no account fees or minimum balance requirements, making it an attractive option for those just starting or managing a smaller business.

Built-in Bookkeeping and Tax Tools

One of the standout features of Found Business Checking is its built-in bookkeeping and tax tools. Users can automatically categorize their expenses, separate personal and business transactions, and generate financial reports.

Found also offers tax calculation tools that help estimate quarterly tax payments, making it easier to stay on top of tax deadlines and avoid penalties.

Expense Tracking and Business Tools Integrations

Staying organized is essential for freelancers and business owners, and Found's expense-tracking capabilities make it simpler than ever.

With custom categories and tags, users can track expenses in real time and generate detailed reports for a clear overview of their financial situation.

Found also integrates with popular freelance apps and software, such as QuickBooks, to streamline your accounting process further.

Online and Mobile Banking

In today's digital age, having easy access to your financial information is vital. Found offers a robust online and mobile banking platform that allows users to manage their accounts, make transactions, view account activity, and more, all from the convenience of their devices. The mobile app is available for iOS and Android devices, ensuring widespread compatibility.

Pros & Cons

Pros & Cons of Found

  • No account fees
  • Freelance app integrations (Like DoorDash & QuickBooks)
  • No required monthly fees or minimum balance
  • Bundled bookkeeping tools
  • Create multiple virtual cards
  • Invoicing capabilities
  • No check-writing features
  • No APY on checking account (Only if you enroll in a Found+ account)

Who should use it?

Who is Found for?

When Found is a Good Fit

Found is an excellent fit for those who require a user-friendly, feature-rich business banking platform tailored to the unique needs of freelancers and self-employed individuals.

The absence of account fees, comprehensive expense tracking, and tax management tools make Found an excellent choice for those who need a specialized banking solution to manage their business finances.

When Found is Not a Good Fit

If you rely on international wire transfers or need advanced treasury management services, Found bank, a small business banking platform, might not be the best fit for you.

Multi-member LLCs, joint accounts, or partnerships are not currently available with Found.

Open an account

How to open an account with Found

Steps to Open an Account

Opening a Found business checking account is a straightforward process. To get started, visit the Found website and click on the “Get Started” button. You will be prompted to enter your email address and create a password.

After completing the initial registration process, you'll be guided through a series of steps to provide your personal and business information, including your Social Security number, business name, and contact details.

Required Documentation and Eligibility

To open a Found business checking account, you'll need to provide the following documents:

  • Proof of identity (e.g., driver's license, passport)
  • Social Security number
  • Business name and contact information
  • Business EIN (if applicable)

Applicants must be at least 18 years old and have a valid Social Security number or Individual Taxpayer Identification Number (ITIN) to be eligible for a Found business checking account. Additionally, Found is currently available only for U.S. residents.


What is Found+?

Found+ Premium Account Option

Found Plus is an optional paid subscription service that offers advanced tax planning tools and features for business owners looking to streamline further and customize their financial management during tax season. Found Plus is available in monthly and annual plans, costing $19.99/month or $149.99/year.

Found Plus Benefits

Subscribing to Found Plus gives you access to an extensive list of benefits and features:

Unlimited category rulesAutomate the categorization of transactions from specific vendorsFound Plus only
Custom bookkeeping categoriesCreate personalized categories for income and expense trackingFound Plus only
Transaction tagsOrganize income and expenses with custom tags (up to three for free users)Unlimited for Found Plus
Photo receipt captureCapture receipts using your phone camera and have key details auto-filledFound Plus only
Export bookkeeping detailsDownload comprehensive bookkeeping data, including categorization, notes, and receipt infoFound Plus only
Pay taxes through FoundPay quarterly federal taxes directly through the app (first payment free for all users)Found Plus only (after first payment)
Bonus on account balanceEarn 1.5% APY on the total balance maintained in your account each month, up to $20,000Found Plus only
Priority phone supportDirect access to Found’s Customer Experience team with prioritized supportFound Plus only

These features are in addition to the standard Found account offerings, such as a business debit card, expense and income tracking, tax auto-save, personalized invoices, and no hidden fees.

Found Plus provides business owners with a comprehensive suite of tools for managing their finances, making it an ideal solution for those seeking an all-in-one business banking solution.


Found Business Banking Pricing and Fees

Overview of Fees and Access

Found offers a business checking account with no monthly account fees or minimum balance requirements, making it an attractive option for freelancers and small business owners.

Below is a summary of the main fees and costs associated with using Found:

Monthly account feesNone
Minimum balanceNone
Transfer fundsNo charges
Create invoicesNo charges
Send paymentsNo charges
Overdraft feesNone

Optional Paid Services

Found provides two optional paid services for customers:

Instant withdrawals1.75% fee per transactionTransfer money from Found account to an external debit card instantly
Found Plus$19.99/month or $149.99/yearAccess to advanced business tools

Additional Fees from Third Parties

Some transactions may result in fees being charged by third parties:

Transaction TypeFeeCharged By
ATM withdrawalsVariesATM owner
International transactionsFee during currency conversionCard network
Invoice payments2.9% fee on total payment + $0.30 for processingStripe

Security & Customer Service

Found Business Banking Safety and Customer Service

Account Security

Found prioritizes the security of its customers' funds and personal information. Some of the measures they take include:

  • FDIC insurance: Found accounts are insured up to $250,000 through Piermont Bank, providing peace of mind for customers.
  • Mastercard® Zero Liability Protection: This ensures that customers are not held responsible for unauthorized transactions on their debit cards.

Customer Service

Found offers various customer support channels to assist customers with their banking needs:

  • Found Plus users: Receive priority phone support for immediate assistance during business hours (weekdays, 8 am to 5 pm PT).
  • General support: All customers can access support at found.com/help or in the Support section of their Found app.
  • Phone support: Customers can reach the Found team via the phone number on the back of their debit card.

Deposit and Withdrawal Options

Found Deposit and Withdrawal Options

Found provides multiple methods for depositing and withdrawing funds, making it convenient for customers to manage their business finances.

Deposit Options

  • Bank transfers: Customers can transfer funds from an external bank account to their Found account using ACH.
  • Mobile check deposit: Users can deposit checks via the Found mobile app by simply taking a picture of the check.
  • Direct deposit: Found customers can receive their earnings via direct deposit, possibly receiving payments up to 2 days early.

Withdrawal Options

  • Bank transfers: Withdraw funds to an external bank account using ACH transfers.
  • ATM withdrawals: Access cash from ATMs without fees from Found, although some ATMs may charge their own fees.
  • Instant withdrawals: For a 1.75% fee, customers can transfer money instantly from their Found account to an external debit card.

Note: Found currently does not support check writing features


Alternatives to Found Business Banking

Bluevine Logo
2.0% APY on the first $250,000
No monthly fees or minimum opening deposit
Unlimited fee-free transactions
Out-of-network ATM fees can be high
No physical locations
Cash deposits have a $4.95 per-time charge
Grasshopper Bank Logo
Grasshopper Bank
Earn unlimited 2.25% APY on all deposits
Earn 1% cashback with its debit card
Unlimited fee-free transactions
No 24/7 live support
No cash deposits or check ordering
$100 minimum opening deposit
Relay Bank
Relay Bank
No monthly fees
No account minimums
Major accounting& payroll integrations
No lending features, cash deposits, or check ordering
Does not offer APY on the business account
No 24/7 live support

While Found offers a comprehensive solution for freelancers and small businesses, alternative options are available, catering to different needs and preferences.

Two notable alternatives online banks are BlueVine and Live Oak Bank.


BlueVine is ideal for established LLCs with an EIN and registered with the state. It offers robust features that cater to the needs of growing businesses:

  • No monthly fees, minimum balance, or transaction fees
  • Two free checkbooks
  • Integrations with popular accounting software
  • Same-day wire transfers for a fee
  • Business lines of credit

Fact: BlueVine is focused on providing business banking solutions, including business lines of credit.

Live Oak Bank

Live Oak Bank is a solid choice for businesses looking to earn interest, as it provides both a business checking and savings account. Features include:

  • No monthly maintenance fees
  • High-yield business savings account with a competitive interest rate
  • Free ACH transfers
  • Mobile check deposit
  • Wire transfers for a fee

Tip: By maintaining a business checking, and savings account with Live Oak Bank, businesses can benefit from seamless funds transfers and maximize their earnings through interest.

When selecting a business banking solution, it's essential to consider factors such as fees, interest rates, features, and specific business requirements.

While Found caters to freelancers and small businesses, BlueVine is better suited for established LLCs, and Live Oak Bank is an excellent choice for those aiming to earn interest.

Bottom Line

Is Found Business Bank for you?

Found offers a comprehensive and user-friendly business banking solution for freelancers and small businesses. With features like expense tracking, customizable invoices, and tax tools, it simplifies managing finances and streamlines operations.

The optional Found Plus subscription adds advanced tools, priority support, and an APY bonus on account balances. Choosing the right business banking solution is essential to meet your needs and requirements.

Ultimately, the decision will depend on fees, features, and growth potential. Found has been designed with freelancers and small businesses in mind, making it a popular choice for entrepreneurs seeking a hassle-free and feature-rich business banking experience.


Found Business Checking FAQ

Who owns Found?

Found is an independent financial technology company. A traditional bank does not own it but collaborates with Piermont Bank, a Member FDIC bank. This partnership ensures that Found customers have their deposits insured by the FDIC up to $250,000.

What bank does Found use?

Found uses Piermont Bank as its partner bank. Piermont Bank is an FDIC-insured institution, which means your funds are insured up to $250,000, providing you with peace of mind and security for your finances.

Can I use Found for my personal banking needs?

Found is specifically designed for freelancers and small business owners. It is not intended for personal banking use, as its features and tools are tailored to meet the needs of self-employed individuals and businesses.

Is Found compatible with popular accounting software?

Yes. Found can be easily connected to popular accounting software like QuickBooks and Stripe. This integration helps freelancers and small businesses manage their finances more efficiently and accurately.

Does Found offer customer support?

Yes. Found provides dedicated customer support through various channels. You can reach the support team through the help section on their website, in the Support section of the Found app, or via the phone number on the back of your debit card. Found Plus subscribers enjoy the added benefit of priority phone support during business hours (weekdays, 8 am to 5 pm PT).

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.

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