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Found Review 2022

All-in-one banking platform for small businesses

Reviews 22

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Katy Ward
Katy Ward
Nov. 15, 20224 min read

Found summary

Launched in 2019, Found allows freelancers and the self-employed to carry out their business banking, keep track of their bookkeeping, and manage their expenses through a single platform. As well as providing you with a Mastercard debit card for business spending, the company offers tax and invoicing tools, such as automatic invoice generation and the ability to pay taxes via the app.

Pros

  • No monthly fees
  • Credit check not required
  • Excellent security features

Cons

  • Cash deposits not available
  • No physical branches
Foundat a glance
4.4

Editorial score

Fees?

No fees at all

5.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication

5.0

Customer service

Customer service during standard business hours

3.0

Online experience

Excellent user-friendly site with full banking capabilities

5.0

Mobile experience

User-friendly mobile app, no check deposit feature at this time

4.0

Found Found Visit Found

Advantages Over Traditional Banks 

For many freelancers and self-employed people, Found’s most significant advantage over more traditional banking services is likely to be its lack of fees, as many of its competitors impose hefty monthly maintenance or account management charges on their small business accounts. 

If you’re concerned about your financial history, you may be reassured to learn that the company won’t run a credit check when you open an account.

Cutting-Edge Banking Services 

Several of Found’s most innovative features relate to its tax and invoicing services, rather than business banking.

One interesting feature is the company’s receipt capture tool, which can help ensure you aren’t caught out by lost receipts during tax season. Its automatic expense categorization feature can also dramatically reduce the amount of time you spend getting your accounts in order. You can, for instance, create customized expense categories relevant to your business in areas such as travel costs and office supplies.

The company’s array of tax-specific tools is impressive. In addition to the option of paying your taxes directly from the app, you can also see an estimate of your tax bill in real time before it’s due which can help you avoid the nasty surprise of a higher-than-expected charge. Furthermore, Found will automatically generate your Schedule C form if you’re self-employed.

Key Tax Features

  • Integrated income tracking
  • Auto-saving for 1099 taxes (i.e. income withholding)
  • Maximize deductions with built-in expense tracking
  • Receipt capture and built-in substantiation guidance
  • Writeoff identification
  • Profit and loss, expense, and income reports
  • Auto-generated schedule-C
  • Annual tax filing packet
  • Live estimated tax bill
  • 1099 sharing

You can also customize your invoices with your business’s branding, which can help create a professional image when communicating with your clients. In addition to this, you can select a payment method for receiving funds. Although this includes credit cards, direct deposits, and payment services such as Zelle, you can’t accept cash payments or wire transfers.

Traditional Banking Services 

When you sign up for an account, you’ll receive a free Mastercard debit card. To help you stay on top of your account balance, Found will send instant notifications of purchases made with your card. You can also use the card to withdraw funds at any ATM that accepts Mastercard.

As you would expect from a traditional banking service, your account will include account and routing numbers.

Interest Rates and Fees 

One of the most attractive aspects of Found is that you won't be charged any fees to use its business banking service. However, you may have to pay a fee to withdraw cash at an ATM using your Found Mastercard. These fees are not set by Found or Mastercard, and are determined by the company that owns the ATM.

Customer Service and Online Experience

You can contact Found over phone, email, or through its online query form. Its support hours are 9am-5pm (PST), Monday-Friday.

There is also a detailed selection of FAQs on the company’s website, which provides a lot of helpful information about its services.

You can sign up for an account in less than five minutes. After entering your email address into the company’s online tool, you'll receive an authorization code. This will allow you to continue with your application by providing further financial details such as your tax ID.

Mobile App 

Found’s mobile app is available to download from the App Store and Google Play. It allows you to:

  • Lock and cancel your debit card
  • Make tax payments
  • Customize your expense categorization
  • Track and send invoices
  • Generate your profit-and-loss statements

Security 

With security being a top concern for small business owners, entrepreneurs can rest assured by the robustness of Found’s security features.

In addition to a dedicated fraud team, Found 24/7 monitoring service will immediately alert you to any suspicious activity on your account. 

All databases are safeguarded via AES-256 encryption, which provides the highest level of protection currently available. Found also operates with a two-factor authentication system by sending verification codes to mobile phones. 

Likewise, Found is insured by the federally backed FDIC program, which means that any funds you deposit will be reimbursed up to a value of $250,000 if the company were to fail.

Found also has a detailed privacy policy on its website.

Summary

If you're self-employed and want to save time when organizing your business banking, Found is a great way to streamline all your financial management into one place. While the company doesn't have any physical branches, Found offers many benefits in its impressive selection of tax and bookkeeping tools, and provides comprehensive online guidance that could prove invaluable if you run your own business.

Methodology

We compiled this review by visiting Found’s website, contacting its customer service team over email, and reading other online reviews of its service.

Found Found Visit Found


Katy Ward
Written byKaty Ward

Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance and software topics for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

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ExcellentReviews 22
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9%
  • author
    Rebecca Vaughns
    3 days ago
    Top notch in mobile banking!!!

    Customer service is excellent!!!

    ...

  • author
    Aimee Hammock
    Dec 01, 2022
    Very helpful

    Very helpful

    ...

  • author
    Clifford White
    Nov 30, 2022
    best card ever

    i haven't had a problem at all

    ...

  • author
    Gregory Barnett
    Nov 28, 2022
    Found has been the least complicated.

    Found has been the least complicated, most enjoyable and easy to use banking app I have encountered to date.

    ...

  • author
    Robert Rand
    Nov 27, 2022
    Impressed by Found App!

    5 Stars for the ease of use and logical layout of the App and the features available in the app. Absolutely the most well thought out set of services related to the independent business person's needs. Thank you. Apps rarely impress me but the Found app has impressed me like no other. If only the Found app engineers/designers take over Google and make their group of information intensive apps into valued tools like the Found app instead of the tolerated yet annoying apps they have always been?

    ...

  • author
    dimitri estime
    Nov 25, 2022
    Convenient online banking

    Convenient online banking

    ...

  • author
    Corie Boutte
    Nov 22, 2022
    Gave me a grate platform to really…

    Gave me a grate platform to really organize my company!

    ...

  • author
    Елена Бровченко
    Nov 19, 2022
    Very good service of virtual

    Just found very good service of virtual prepaid cards - cryptcards.net - very fast service and bitcoin payment available. Shop online stores and marketplaces like eBay, Walmart, Amazon, Target and other US and European online stores and stay anonymous.

    ...

  • author
    La Mode Men's
    Nov 17, 2022
    Awesome company I recommend to everyone

    Awesome company I recommend to everyone

    ...

  • author
    Gwen Jefferson
    Nov 16, 2022
    Love Found because they’re efficient

    Love Found because they’re efficient, quick access and all in one system. Love it!

    ...

  • author
    Mariee Gladney QueenKey
    Nov 13, 2022
    Great experience since I started…

    Great experience since I started without any difficulties I would recommend this card to anybody

    ...

  • author
    Stephanie Cato
    Nov 12, 2022
    Easy to navigate

    Easy to navigate

    ...

  • author
    Anthony Ballenger
    Nov 10, 2022
    They have a part of their system that…

    They have a part of their system that will pull out expected taxes as your money is direct deposited. That’s so helpful. And you can invoice and take payments through their application for free.

    ...

  • author
    Frank C.
    Nov 10, 2022
    No fees! No Hassles! Great CSRs!

    No fees. User friendly. Great CSRs. Redeemed the promotion immediately. If you are your own boss, this is the account to have. I give it a 10 outta 10. The tax help is great!!.GET THIS ACCOUNT!!

    ...

  • author
    Brannon Anthony
    Nov 09, 2022
    Good bank

    Good bank! Definitely recommend

    ...

  • author
    Kurt Bell
    Nov 02, 2022
    Super convenient easy platform to get…

    Super convenient easy platform to get around

    ...

  • author
    John D Mobley II
    Oct 30, 2022
    Great app 👌 easy and elegant

    The app is very user friendly. Elegant but easy. Perfect tool for keeping track of your tax write offs. Highly recommend also connects to paypal.

    ...

  • author
    Ryan Beattie
    Oct 28, 2022
    FOUND is a solid choice for business banking

    Because I can integrate and connect other business and payment apps like Venmo which is actually pretty significant. Ability to personalize the look and feel of the apps user interface with Logo and trim colors. You can create invoices in app that you can personalize to your Business and offer net pay terms which is accommodating for the customer. Setting aside tax withholdings and payments in a subaccount within the app is actually a decent touch that ill be looking foward to utilizing. Then the flexible Spending with said tax account is a good idea so you don't have to twiddle around with thumbs transferring money back and forth. The UI Feels smooth and responsive, and I was able to connect gusto easily to Found. Also, the ability to catergorize transactions without issue and then enter in previous tax info, docs and business revenue to essentially "keep everything in one place" is kick ass. When i noticed that i could do that i started gathering my tax returns and balance sheets together. I could go on but there is quite a lot i appreciate with options that Found business account offers that many brick and mortar banks do not

    ...

  • author
    Shuvona
    Oct 26, 2022
    The fact it help me manage my account…

    The fact it help me manage my account and taxes

    ...

  • author
    Justin Fitzpatrick
    Oct 13, 2022
    Extremely helpful for running my Business!

    Extremely helpful for running my business. The tax features that let me auto-save for quarterly taxes is really helpful. I know how much I owe in real time. I also use Found for expense tracking. It has streamlined my book keeping a lot. I know how much I am spending on different categories. It has replaced Mint for me in that sense. Lastly, I can't say this loud enough. It's free. I've saved a bunch of money since switching

    ...

  • author
    D. Lewis Champie
    Sep 22, 2022
    Found is easily used by criminals!

    Found is easily used by criminals to open bank accounts in your name and take your money. When you, as the victim, ask what info was used they tell you that you have to be law enforcement to get that info. The reason the service is targeted by criminals is because they activate the bank card number before the bank card is ever mailed or received. If the funds are transferred appropriately, there's nothing to stop criminals from draining your account entirely before the card even arrives and whatever mailbox it was sent to. They don't need the card, they just need the found app. I hope that this company goes out of business very soon. Not only for their complete lack of assistance in regards to figuring out how my account was compromised, but the simple fact that they obviously are more concerned with covering their own ass and not with helping the consumer.

    ...

  • author
    A Legal Secret
    Jul 02, 2022
    Research before you Buy Into it

    Freelance content creator and Found partner Latasha James explains the simple steps to get started managing your self-employed business on Found. (2021) It appears Found just got off the ground with its business. Started in 2008 during the crash. Nothing after that, unpaid websites and up until now 2021 here comes FOUND.COM. Business are struggling and this appears to be the best thing coming but its sounded a little too good to be true.

    ...

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