Found Business Banking provides an accessible and easy-to-use platform designed specifically for freelancers and small business owners who want to keep their banking, accounting, and tax resources in one place. But is it the right fit for your business? Let’s find out.
Found’s fast factsOur rating: 4.7 out of 5 Starting price: Found's core features are free, or you can upgrade to Found Plus at $19.99 per month or $149.99 per year for extra services like 1.50% APY on balances up to $20,000, advanced customer support, and expanded bookkeeping resources. Key features:
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Found
This modern banking solution focuses on the unique needs of independent workers and small businesses, making it an excellent option if you’re looking for a bank that simplifies financial management. But does Found really live up to the hype? Let’s continue to dive into its features, pricing, and alternatives to find out if it’s the right choice for you.
Found Business Banking reviews often highlight how user-friendly and visually appealing the app is, making it an ideal choice for freelancers and small business owners. Users appreciate how easy it is to manage their finances, particularly the automatic expense tracking and tax-saving features. One freelancer mentioned that Found made invoicing and getting paid straightforward, which simplified managing their cash flow. Other users praised the lack of account fees, allowing them to keep more of their money without worrying about hidden costs.
The app’s built-in tax tools were also a hit, helping independent contractors prepare for quarterly tax payments with ease. However, some users noted that while Found excels in financial management for small businesses, it lacks certain features like payroll services, which could be a drawback for a person trying to grow their small business.
One of the biggest advantages of Found is its cost. There’s no fee for opening or maintaining an account. Found offers a free business checking account with no minimum balance requirement or required monthly fees, making it an ideal choice for startups or freelancers who want to avoid hidden costs. If you want to upgrade for more services, you can pay by month or by year, but that’s up to you if you decide you want extra services.
What sets Found apart from traditional business bank accounts is its unique feature set, which caters to the specific needs of freelancers and small business owners.
Found’s built-in expense tracking tool automatically categorizes transactions to help you manage your budget more efficiently. You don’t need to manually input your expenses or keep a stack of receipts — Found does that for you, so tax season becomes much easier.
Found offers a unique tax automation feature, calculating your quarterly estimated taxes and even setting aside funds to help you meet those obligations. This feature is a game-changer for freelancers who struggle to stay on top of their taxes throughout the year.
You can generate professional invoices directly within the app and accept payments via various platforms. Whether it’s through ACH transfers or third-party payment processors like Stripe, Found ensures that getting paid is hassle-free.
Unlike traditional business banks, Found doesn’t require you to pay a monthly fee or maintain a minimum balance, and it doesn’t charge overdraft fees.
We would highly recommend Found for freelancers and small business owners because it offers an intuitive, all-in-one financial platform that covers everything from expense tracking to tax preparation. Our favorite feature is the built-in tax automation, which simplifies quarterly tax estimates and makes it easier to set aside funds for taxes. This feature alone takes a huge burden off independent workers.
However, Found may not have all the capabilities that larger, more complex businesses need. While it excels at helping freelancers and small business owners manage day-to-day finances, it doesn’t include payroll services or loans, which might be necessary as businesses scale. If you’re managing a bigger operation and need more robust financial tools, Bluevine or Lili may be better options, as they offer features like interest-earning accounts and overdraft protection.
Overall, Found is truly an excellent solution for small-scale businesses looking for simplicity and cost-effectiveness, but those with growing needs might need to think of other alternatives.
If Found Business Banking doesn’t fit all your needs, here are some alternatives to consider:
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| Key Distinctions | Bluevine offers business loans, which Found does not. | Novo’s extensive integrations may make it a better fit for businesses heavily reliant on third-party apps. | Lilli offers overdraft protection, which Found currently doesn’t provide. |
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To create this review, we analyzed Found’s banking features, compared it to similar platforms, and evaluated user reviews from various sources. We took into account the unique needs of freelancers and small business owners to determine how well Found meets those requirements in comparison to its competitors.
Found Business Banking partners with Lead Bank, an FDIC-insured institution, to provide its banking services.
Yes, Found is excellent for freelancers and small business owners who need an account with features like tax automation and expense tracking.
Found itself is a financial technology company, but it partners with FDIC-insured Lead Bank for its banking services. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.
No, Found does not offer direct payroll services, but instead provides invoicing tools for businesses to manage their payments.
This article was reviewed by our banking expert Tricia Jones.
Patrick is a finance and operations professional with experience in investment banking, corporate strategy, and startup operations. He has worked at Citibank and Gevo Inc., handling credit, underwriting, and business development.
