This article is part of a larger series on Business Banking.
If you’re a freelancer or a self-employed individual looking for more savings, easy account opening, and access to business management tools, Found is an excellent choice. It offers a fully digital business checking account with no monthly fees, no credit checks, a free debit card, and built-in bookkeeping, invoicing, and tax tools. While it doesn’t accept cash deposits, it has direct deposits and lets you link a bank account and apps, such as Stripe, PayPal, and Venmo for convenient fund transfers.
How Found Stacks Up With Its Competitors
Cash Deposit Fee
Minimum Opening Deposit
None; doesn’t accept cash deposits
Free but some ATMs may charge
None; doesn’t accept cash deposits
Refunds all ATM fees
$4.95/transaction via Green Dot retail locations
Free at MoneyPass locations; $2.50 for nonnetwork
*Providers are financial technology (fintech) platforms backed and Federal Deposit Insurance Corp. (FDIC)-insured by a supporting bank partnership (LendingClub Bank, N.A. for Found; Middlesex Federal Savings for Novo; and Choice Financial Group for Lili).
When Found Is a Good Fit
- Freelancers who want a digital bank with no monthly fees: Created with freelancers in mind, Found requires no monthly fees and no minimum opening deposit or maintaining balance. It’s also suitable if you don’t need to visit physical branches to transact and your needs are satisfied by a digital-only bank.
- Freelancers who prefer to have no credit checks when applying for a checking account: Found doesn’t perform credit checks, so clients with previous bad credit can take advantage of this hassle-free account opening opportunity.
- Self-employed professionals who want to keep track of their expenses for tax write-offs: Found offers expense management and tax planning tools, helping you categorize expenses and track tax write-offs for more savings.
When Found Is Not a Good Fit
- Freelancers who need to deposit cash: Found has no facility to accept cash deposits. Check out alternatives such as Chase Bank and Bank of America, which have plenty of brick-and-mortar branches and ATMs that can accommodate cash deposits.
- Businesses performing wire transfers every month: Found doesn’t allow wire transfers. You may opt for Capital One since it offers free incoming domestic wires and five free outgoing domestic wires per month.
- Limited liability companies (LLCs) that need business credit cards: Found doesn’t offer any credit cards at present. You may want to consider Capital One’s wide variety of credit cards. Its Spark® Classic for Business is among our best business credit cards for LLCs for its straightforward rewards that are ideal for LLC owners with fair credit.
Found Business Checking Overview
Found Business Checking
Required Opening Deposit
Required Minimum Balance
Direct Deposit Limit
Debit Card Purchase Limit*
$4,000 per day
ATM Withdrawal Limit*
$550 per day
Linked Bank Account Transfer Limit*
Incoming: $1,000 per week
Outgoing: $3,000 per day
Payment Apps Transfer Limit*
Domestic and International Wire Transfer Fees
Wire transfers unavailable
None, but some ATMs may charge
Cash Deposit Fees
Cash deposits not accepted
Open an Account
*Clients can request a limit increase online or through the mobile app.
Found Business Checking Requirements
You can visit the Found website to open a business checking account. You’ll need to provide your personal information, such as legal name and address, social security number, and date of birth.
Found doesn’t require a self-employed individual or freelancer to provide information on any kind of business structure when applying for an account, but if you have an LLC, you can add your employer identification number (EIN) once you sign up. Found prohibits certain businesses from opening an account—you can check this list for more information.
Before opening an account, read our guide on how to open a business bank account. It includes a free downloadable checklist of required documents.
Found Business Checking Features
Found’s business checking account offers no monthly fees, a Mastercard debit card, and built-in bookkeeping and invoicing software with tax planning tools.
Business Debit Card
Found issues a business debit Mastercard to small business owners, providing easy tracking of expenses and payments. You can also freeze your card for security in the Found app. In addition, you can connect Found to your favorite apps such as Stripe, PayPal, Venmo, and Etsy.
Online & Mobile Banking
Through its app, Found offers the following services:
- Tax tools: Self-employed professionals can rely on the app to record and categorize purchases automatically. It notes down tax-deductible items and provides real-time tax estimate updates. Found also allows you to pay taxes right in the app. It auto-generates a self-employed Schedule C form to reduce your paperwork during tax season.
- Bookkeeping: Freelancers can organize their finances easily and categorize expenses with custom classification tools in the app. It also features receipt capture for easy saving of receipts.
- Invoicing: Small business owners can create free, unlimited, and customized invoices for professional branding. The invoicing software includes credit cards, debit cards, direct deposits, Cash App, Zelle, Venmo, and PayPal as payment options. It also allows automated billing through scheduling future and recurring invoices.
For account information and concerns, you can email email@example.com. You can also fill out a contact form on its website and check out resources like its support center and guides to learn more about its procedures.
Found Business Checking Pros & Cons
|No monthly maintenance fees, no minimum balance requirement, and no initial deposit requirement||No overdraft protection|
|Free bookkeeping software and tax planning tools||Doesn’t issue checks|
|Hassle-free online account opening||Doesn’t accept cash deposits|
Found Business Checking is beneficial for freelancers and the self-employed with its free bookkeeping and tax planning tools. Its fee-free account is also easy to open online. No credit checks will be performed when you open an account. The drawback is that Found has no facility to accommodate cash deposits. It also doesn’t issue checks and doesn’t offer overdraft protection for your account.
Alternatives to Found Business Checking
Found has a great business checking account packed with features freelancers and self-employed professionals can maximize, but if you need to deposit cash regularly, a bank with brick-and-mortar branches is recommended. For an interest-bearing account and more opportunities to grow your funds through business savings and investments, you can also consider other banks.
Here are three Found alternatives:
- Bluevine: Best for business owners who want to earn high interest. Bluevine’s business checking account earns 1.5% APY.
- Chase: Best for businesses that need to deposit cash frequently. Its branch network and ATMs are spread throughout 48 states.
- Axos Bank: Best for businesses that want to have access to business savings, certificates of deposit (CDs), and business money market accounts. Axos offers competitive rates to grow your business funds.
Check out more providers in our list of the best small business checking accounts.
A Found business checking account is ideal for freelancers and self-employed professionals who want to save more with its zero monthly fees and benefit from its built-in accounting, invoicing, and tax tools to streamline their business operations. While other banks may offer these services, Found packs a lot of these useful features in their checking account for free. This makes Found a great choice, especially if your business is starting out.