Found Business Checking Account Review

Business Checking Account Features

Fees and Restrictions

Signing up for a Found business checking account is completely free and does not require members to pay a monthly fee. Accounts don’t have any hidden, mandatory, or overdraft fees either. That being said, customers have the option of signing up for Found+, which has a monthly fee of $14.99 per month. Found+ accounts have all the features of a regular Found account, with added features to the financial tools.

All members who wish to send free invoices to their customers and receive credit or debit card payments from them must sign up for Stripe accounts. Stripe charges a fee of 2.9% + 30¢ for each transaction made through their platform. This fee is automatically deducted from all payments made to members.

As for transaction fees, members who wish to make instant transfers must pay a 1.75% fee per transaction.

There are no daily no limits for direct deposits, wire transfers, or transfers from payment platforms. However, there are daily limits for outgoing transactions. There is a $5,000 limit for transfers to linked accounts, a $550 limit for ATM withdrawals, and a $4,000 limit for purchases made through the Found card and for transfers to payment platforms. Found members who require limit increases can request them through their accounts.

Account Management and Support

Found business checking accounts provide a completely streamlined online banking experience that caters to individuals and businesses seeking to manage their business finances all in the same place, sort of like a one-stop-shop. All Found members have access to their tax estimate tool and to their bookkeeping and invoicing services.

The tax estimate tool helps users estimate their federal and state (if applicable) business taxes with each expense or incoming transaction, and put money aside for when the time comes to make payments. Found+ members can make federal tax payments through the app.

The bookkeeping tool helps Found members keep track of all their business expenses, as well as categorize them. This tool has a feature that automatically categorizes expenses and finds write-offs to help members save on their taxes. Another one of its features is that it generates free expense, income, and profit and loss reports using the business’ information and activity.

Found users can also create personalized invoices and send them directly to their customers through the app. Payment requests are available as well. 

Reputation

Found has been accredited by the Better Business Bureau since 2022, and currently holds a BBB rating of A+. It has over 100 reviews and a rating of 4.6 on Trustpilot. In the last three years, they have closed 17 complaints. 

Mobile Compatibility and Linkability

Currently, all members can access their Found accounts through their mobile app for Android and IOS. Users who need or wish to link other accounts to Found can do so with Venmo, Cash App, Paypal, Quickbooks, and Stripe.

Security

• Data encryption 

• Secure infrastructure

• Two-factor authentication (2FA) 

• 24/7 fraud monitoring

• PCI-DSS certified payment partners

• Users can freeze, lock, and disable their cards from the Found app.

*Your Found account deposits are insured through Piermont Bank by the FDIC for up to $250k for each category of legal ownership.

**Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.

***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.