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Found Review 2023

All-in-one banking platform for small businesses

Reviews 417
Found
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Found
Found
Excellent
Reviews 417
Katy Ward
Jun. 26, 2023
3 min read
Katy Ward
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 account fees
  • Credit check not required
  • Excellent security features

Cons

  • No physical branches

Found at a glance

9.2
Editorial score

Fees?

No required or hidden fees
10.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor and biometric authentication
10.0

Customer service

Early morning and weekend service with multiple communication options
8.0

Online experience

Excellent user-friendly site with full banking capabilities
8.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits
10.0

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 hidden and account fees, as many of its competitors impose hefty monthly maintenance or account management charges on their small business accounts. Found has no monthly fee unless you opt to upgrade to Found+, a newly launched paid subscription account, for more benefits.

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 there are no required fees when you use its 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. They offer customer service 7am-5 pm on weekdays and 9 am to 5 pm on weekends.

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. 

Accounts at Found are held by their partner bank Piermont Bank, Member FDIC, and these accounts are FDIC insured up to the limit of $250,000, 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. Accounts at Found are held by their partner bank Piermont Bank, Member FDIC, and these accounts are FDIC insured up to the limit of $250,000.

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

Disclaimer

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. and may be used everywhere Mastercard debit cards are accepted.


Katy Ward
Written by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance 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 enjoys identifying complex financial trends that make for interesting article topics.
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Trustpilot reviews
See what some customers are saying about Found
Excellent • Reviews 417
on
Excellent
82%
Great
6%
Average
3%
Poor
0%
Bad
9%
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
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cu
customer
17 hours ago
I app is quite useful
I app is quite useful. It's intuitive and easy to learn. They also have a free full featured trial that works long enough to learn how to use it. You can separate business from non business related expenses and import transactions from most banks automatically as well as capture paper recipts.
LA
Leo in AZ
2 days ago
Major upgrade
Before I started banking with found, I was working with a local credit union. The difference between the two in getting set up is night and day, found is so much easier. All of the little nickel and dime fees that I would get from the credit union simply don't exist with found and the interest rates are considerably better.
Monica -Thompson- Alston
3 days ago
I like how the system sets aside my taxes
I like how the system sets aside my tax money with each deposit of payment.
AB
Aaliyah Bedford
5 days ago
This the world's greatest card
The most wonderful experience .I've ever experienced
DW
Darien Wright
6 days ago
My Found review
Imma make this review quick. Found is great just trust me. Don't got time to type out all of founds great features other wise this review would be pages long.
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