Found: Business Banking

I love Found banking. It is a great all in one business banking tool. I use the paid version and I think the features are well worth the money. One of my favorite features is the built-in bookkeeping so you can automatically track your expenditures and have it all ready to go for taxes, no need for a separate bookkeeping program like QuickBooks. Your taxes are automatically set aside in a pocket so you don’t accidentally not have money for taxes at tax time. I think this is where a lot of small businesses get in trouble, and they built that in to help you not be caught offguard at tax time. They have a smart rule where they automatically decide how much you will need for taxes., but you can override that and set your own percentage. You can also create a pocket for additional savings and set up a percentage for every deposit to automatically save money as well. And you can create multiple pockets so I put a percentage aside in another pocket to help cover large annual subscriptions or fees, which has been really helpful. I love the ability to create “pockets“ which is basically separating out your money, which is great for financial planning or saving. And you can have multiple virtual cards with different rules and spending limits! I created one specifically for my online business purchases so that I don’t have to worry about my card getting hacked and losing all my money! The only downside is if you have multiple small businesses, it’s not really conducive to having multiple accounts… I did get an email from support saying there’s a way to do it, but it seems complicated and I don’t want to blend my different businesses money. .. but I do wish I could have several Found accounts. I like it that much.

Registered, opened account about a month ago. So far everything is great, the $20 bonus also arrived after fulfilled the criteria. Customer care for me was great, they are available on the phone business days/hours, and wasn’t a long wait at all. I only have two concerns, app security. Banking app, and I can’t believe that there is no PIN/any lock when you open the app. I have many fintech apps, and all locks once you close the app, and want to reopen, here there is no option for that, which makes it a bit unsafe. One of my only concern is when I send out a payment it doesn’t shows my name. My receiver gets the payment as Found and many characters as reference. As a business, the outmost minimum would be to be able to send wires under my name and not to send a text message to the customer that directs it to a link which shows the details of the transaction. If Revolut/TW/etc can handle an account under your name, Found should be able to and not send out payments from a ledger account. Also, the 7 days pending hold seems a bit long, I understand it’s somewhat a prepaid business model, but Revolut/TW has an option to send Customer Care proof of cancelled transaction and they reverse it immediately, so money doesn’t get stuck on your account. Great possibility In the app, but lacks a lot of features yet. I give 4/5 because it has great potential and there is no major issues. It feels a bit it got stuck at beta testing phase. Funding the account is hard, since no check deposit/cash load option, only ACH/payment apps withdrawal.

I have been using Found for a little over 4 months. We recently expanded our business and I needed to keep our marketplace orders/expenses/earnings separate from our B&M/Ecomm business, without the hassle of opening a new bank account, having a minimum cash flow, and all that extra hassle. Found has been great for us and our needs. I rarely ever leave reviews for anything, but this one is well deserved. We strictly only use this account for our marketplace sales but I am actually considering switching over our ecommerce business to Found. We receive deposits in real time and don’t have to wait 2-3 days with traditional banks. We can also send professional invoices to customers with our brand, logo, and other information. It makes it easy for us to pay our quarterly taxes with categorization of every purchase or expense in Found. It cost us absolutely nothing to open our Found account, yet Found has given us so much financial freedom and free time with the utilization of their services right at our fingertips. Just this morning I saw we received cash back for a few purchases— Found, I would love to know a list of businesses that we can earn cash back incentives, please! All in all, we are very happy with Found and I see us being a long term account with Found. There’s no reason for us to leave. Thank you for being affordable (free) and most importantly, user friendly. Y’all are amazing!