Found.com Reviews

Based on looking at the website, Found.com appears to be a financial technology company that offers small business banking, bookkeeping, and tax tools specifically designed for self-employed individuals and small business owners.

It aims to simplify financial management by integrating various services into a single platform, promising no hidden fees and FDIC insurance through its banking partner, Piermont Bank.

Found.com positions itself as an all-in-one solution for managing business finances, from banking transactions to automated expense tracking and tax preparation.

The platform emphasizes ease of use, with features like real-time tax estimates, automatic write-offs, and contractor management.

While the convenience of integrated tools might seem appealing for some, it’s crucial to approach financial tools with a discerning eye, especially when considering the underlying financial mechanisms and ensuring they align with ethical principles.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Found.com: A Closer Look at its Offerings

Found.com offers a suite of integrated tools designed to streamline financial management for small business owners and freelancers.

The core proposition is to combine banking, bookkeeping, and tax tools into a single, user-friendly application, aiming to reduce the complexity often associated with managing business finances.

The platform highlights its no-fee structure and FDIC insurance, which are significant points for many users.

However, it’s important to understand the specifics of each offering to assess its true value and alignment with sound financial practices.

Online Business Banking

Found.com’s banking services are provided by Piermont Bank, a Member FDIC, ensuring that funds are FDIC-insured up to $250,000 per depositor.

This provides a layer of security for users’ deposits.

The platform boasts features designed for the modern business owner:

• No Hidden Fees: Found explicitly states “No minimum balance required, no opening, overdraft, or maintenance fees.” This transparency regarding fees is a significant advantage, as many traditional banks have various charges that can accumulate.
• Mastercard® Business Debit Card: Users receive a physical debit card, along with the option for up to 20 virtual cards, providing flexibility for different business expenses and enhanced security.
• Unlimited ACH Transfers: The ability to move money with ease through free, unlimited ACH transfers is a practical feature for managing vendor payments, payroll, or transfers between accounts.
• Integrated Payment Options: Found allows seamless integration with popular payment apps like Venmo, Cash App, and PayPal. This facilitates easy receiving and sending of payments, which is crucial for businesses that rely on diverse payment methods.
• Early Direct Deposit: The website mentions that direct deposit funds may be available for use up to two days before the scheduled payment date, though early availability is not guaranteed. This can be beneficial for cash flow management.

Built-in Bookkeeping and Expense Tracking

One of the standout features of Found.com is its integrated bookkeeping functionality.

This aims to simplify the often tedious process of tracking business expenses and income, a common pain point for self-employed individuals.

• Automatic Expense Categorization: The system automatically categorizes expenses when the Found card is used, and it also claims to identify potential write-offs. This automation can save considerable time and reduce the chances of errors in financial record-keeping. For example, if a user buys office supplies, the system might automatically tag it as an “office expense” and highlight it as a potential tax deduction.
• Contractor Management: This feature allows users to collect W9 forms, send 1099 payments, and download and file NECs, which is invaluable for businesses that work with independent contractors. This streamlines compliance with tax regulations for contractors.
• Fast, Free Invoicing: Users can send unlimited, customized invoices directly from their Found account. This eliminates the need for separate invoicing software, further consolidating financial tools. The platform supports various payment methods, though the specific types are not fully detailed on the main page.
• Real-time Insights: The platform promises real-time insights into financial performance, which can help business owners make informed decisions. This likely includes dashboards showing income, expenses, and cash flow.

Advanced Tax Tools

Tax season is often a source of stress for small business owners. 1clickblinds.co.uk Reviews

Found.com attempts to alleviate this with its integrated tax tools, designed to make compliance simpler and more efficient.

• Automatic Write-offs: Similar to expense categorization, Found aims to help users identify and claim potential tax deductions automatically, minimizing the risk of missing out on savings. This could involve recognizing eligible business expenses that reduce taxable income.
• Save for Taxes: The system allows users to automatically set aside money for taxes as they earn, which can prevent surprises at tax time and promote better financial planning. This feature is crucial for self-employed individuals who are responsible for their own estimated tax payments.
• Real-time Tax Estimates: Found updates tax estimates as users earn and spend, providing an ongoing picture of their tax liability. This real-time estimation can help users manage their cash flow more effectively and avoid large, unexpected tax bills. For instance, if a user earns $5,000 in a month and incurs $1,000 in deductible expenses, the system would immediately adjust the estimated tax owed.
• W9 and 1099 NEC Automation: Found streamlines the process of managing tax forms for contractors. This means collecting necessary information and generating the appropriate forms, saving time and reducing administrative burden. According to a survey by QuickBooks, 40% of small businesses find tax preparation to be the most challenging aspect of their financial management, highlighting the potential value of these automated tools.

Found.com Review & First Look

Upon an initial review of Found.com, the platform presents itself as a robust, integrated financial solution for self-employed individuals and small businesses.

Its primary appeal lies in consolidating banking, bookkeeping, and tax tools into a single, user-friendly interface.

The website’s design is clean and intuitive, making it easy to navigate and understand the core offerings.

One of the most striking aspects is the emphasis on simplicity and efficiency. For many freelancers and sole proprietors, juggling multiple apps for different financial tasks can be cumbersome and time-consuming. Found.com aims to eliminate this by providing an all-in-one platform. This is a significant advantage, especially for those who are not well-versed in accounting software or prefer a streamlined approach. The testimonials on the site, though anecdotal, highlight user satisfaction with the integrated nature of the service, with one user stating, “Finally, business banking with accounting software built in. I no longer need Quickbooks.”

The “no hidden fees” promise is a major selling point. Many traditional banks often have a myriad of fees—monthly maintenance fees, overdraft fees, ATM fees, etc.—that can erode a small business’s profits. Found.com’s clear communication about its fee structure or lack thereof for core services provides transparency and predictability, which is highly valued by small business owners operating on tight margins. The FDIC insurance through Piermont Bank also adds a layer of trust and security, assuring users that their funds are protected.

However, a critical first look also raises questions about depth versus breadth. While the platform offers a wide range of features, the extent of customization or advanced functionalities within each tool needs to be considered. For example, while it offers invoicing, it’s not clear if it supports recurring invoices, payment reminders, or detailed sales analytics that larger businesses might require. Similarly, while it helps with tax estimates, it’s not a substitute for professional tax advice or complex tax filings. It is vital to remember that financial tools, however sophisticated, are just that—tools. They facilitate processes but do not replace the need for careful financial planning and adherence to sound, ethical financial practices, avoiding interest-based transactions which are not permissible.

Initial Impressions on User Experience

The website’s design suggests a focus on user experience.

The layout is clean, and the information is presented clearly, making it easy for potential users to understand what Found.com offers.

Key information, such as FDIC insurance and the absence of hidden fees, is prominently displayed. Logicvending.co.uk Reviews

• Ease of Onboarding: The website claims users can “Sign up in as little as five minutes.” This indicates a streamlined onboarding process, which is attractive to busy entrepreneurs.
• Mobile App Focus: While not explicitly detailed, the mention of “Banking, invoicing, and bookkeeping in one app” suggests a strong mobile presence, which is essential for business owners on the go.
• Customer Support: Found.com states, “Real support from real people,” offering email support. While 24/7 phone support isn’t advertised, the promise of human support is reassuring.

Comparison to Traditional Banking and Accounting Software

Found.com distinguishes itself by offering an integrated solution that attempts to bridge the gap between traditional business banking and accounting software like QuickBooks.

• Vs. Traditional Banks: Found offers a digital-first approach with transparent fee structures, which is a stark contrast to the often complex fee schedules of traditional banks. The focus on self-employed individuals also means tailored features that standard banks might not offer.
• Vs. Dedicated Accounting Software: While Found includes bookkeeping and tax tools, it may not have the same depth or customization options as specialized accounting software. For instance, a small business with complex inventory management or advanced payroll needs might still require dedicated software. However, for many freelancers and sole proprietors, Found’s integrated solution could be sufficient, reducing the need for separate subscriptions and data syncing. According to a 2023 survey by Statista, 45% of small businesses use accounting software, indicating a significant market for streamlined solutions.

Found.com Pros & Cons

When evaluating any financial platform, it’s crucial to weigh its benefits against its limitations.

Found.com, while offering a compelling proposition for self-employed individuals, is no exception.

Here’s a balanced look at its advantages and disadvantages.

Advantages of Found.com

Found.com brings several significant benefits to the table, particularly for its target audience of freelancers and small business owners.

• All-in-One Integration: This is arguably Found’s strongest selling point. By combining business banking, automated bookkeeping, and tax tools into a single platform, it significantly simplifies financial management. This eliminates the need for multiple subscriptions and the often-frustrating process of syncing data between disparate systems. For a solopreneur, this means less time spent on administrative tasks and more time focused on their core business.
• Transparent Fee Structure No Hidden Fees: The promise of “no hidden fees, no required minimums or credit check” is a major draw. Many traditional banks burden small businesses with various charges, from monthly maintenance fees to overdraft fees. Found.com’s transparent and seemingly fee-free model for core services provides predictability and helps preserve a business’s capital. This clarity is a significant advantage for budget-conscious entrepreneurs.
• Automated Expense Tracking and Categorization: The system automatically categorizes expenses when the Found debit card is used and identifies potential tax write-offs. This automation saves considerable time and reduces the manual effort typically involved in bookkeeping. For example, a business owner making multiple purchases a day can rely on the system to sort them, rather than manually entering each transaction. Data from a 2022 survey by the National Small Business Association NSBA indicated that administrative burdens, including bookkeeping, consume an average of 120 hours per year for small business owners. Found’s automation can directly address this.
• Real-Time Tax Estimates and Savings: This feature is invaluable for self-employed individuals who are responsible for their own estimated tax payments. Found.com updates tax estimates as income and expenses are incurred, allowing users to set aside funds automatically. This proactive approach helps prevent surprises at tax time and promotes better financial discipline. It transforms tax planning from a quarterly headache into an ongoing, manageable process.
• FDIC Insurance: Banking services are provided by Piermont Bank, Member FDIC, meaning funds are insured up to $250,000. This provides a crucial layer of security and peace of mind for business owners, assuring them that their deposits are protected.
• Contractor Management Features: For businesses that work with freelancers or independent contractors, the ability to collect W9 forms, send 1099 payments, and manage NECs directly within the platform is a significant convenience. This streamlines compliance and reduces administrative overhead.
• User-Friendly Interface: Based on the website’s design and user testimonials, Found.com appears to have a clean, intuitive interface that is easy to navigate, even for those without extensive financial or accounting backgrounds. This accessibility is crucial for its target audience.

Disadvantages of Found.com

While Found.com offers many advantages, there are some limitations and considerations that potential users should be aware of.

• Limited Advanced Accounting Features: While Found’s bookkeeping is integrated, it may not offer the depth of features found in dedicated accounting software like QuickBooks or Xero. For businesses with complex inventory management, project-based accounting, multi-currency needs, or sophisticated payroll requirements, Found might fall short. It’s designed more for simpler business structures like sole proprietorships or single-member LLCs, as highlighted by a user review.
• No Physical Branches/Cash Deposits: As a financial technology company, Found operates entirely online. This means there are no physical branches for in-person support or easy cash deposits. While digital transactions are becoming more prevalent, businesses that frequently handle cash might find this a significant limitation. Users would need to find alternative methods for depositing cash, which could involve third-party services or other bank accounts.
• Reliance on a Single Partner Bank: While FDIC insurance through Piermont Bank is a positive, being solely reliant on one banking partner means that any issues or changes with Piermont Bank could directly impact Found’s services. While this is common for fintechs, it’s a point of consideration compared to having accounts with larger, multi-faceted banks.
• Customer Support Limitations: While Found promises “real support from real people,” the primary advertised support channel is email. For urgent issues or complex problems, the absence of 24/7 phone support could be a drawback for some users who prefer immediate human interaction.
• Integration Ecosystem: While Found integrates with popular payment apps like Venmo and PayPal, its overall integration ecosystem with other business tools e.g., CRM, e-commerce platforms, advanced payroll providers might not be as extensive as more established accounting software. This could lead to manual data entry for businesses using a broader suite of tools.
• Newer Player in the Market: Compared to long-standing financial institutions and accounting software providers, Found.com is a relatively newer entrant. While innovation is good, this also means less historical data on long-term reliability and the evolution of its service offerings. As of 2024, Found has over 500,000 business owners as clients, which is significant but still smaller than industry giants.
• Potential for Misleading Tax Deductions: While the automatic write-off feature is appealing, users must exercise caution. No automated system can fully understand the nuances of every business’s tax situation. Relying solely on automatic suggestions without proper review could lead to incorrect deductions or issues during an audit. It’s always advisable to consult with a qualified tax professional to ensure accuracy and compliance.

Found.com Pricing

Understanding the pricing model of any financial service is paramount, especially for small businesses and freelancers where every dollar counts.

Found.com emphasizes a “get started for free” model, which is highly attractive, but it’s important to delve into the details to understand the full cost structure and any potential premium tiers.

Core Free Account Features

The primary offering from Found.com appears to be a robust free account that covers the essential needs of many self-employed individuals.

Based on the website’s claims, this free tier includes: Drapertools.com Reviews

• No Hidden Fees: This is a recurring promise, indicating no monthly maintenance fees, no minimum balance requirements, no opening fees, and no overdraft fees. This transparent fee structure is a significant advantage over many traditional banks that charge for these services.
• Business Banking: Access to a business checking account with a routing number, account number, and a Mastercard® business debit card.
• Built-in Bookkeeping: Automatic expense categorization, basic income tracking, and real-time financial insights.
• Basic Tax Tools: Real-time tax estimates and the ability to set aside money for taxes automatically.
• Unlimited Invoicing: The ability to send customized invoices for free.
• Unlimited ACH Transfers: Free movement of money between accounts.
• FDIC Insurance: Funds up to $250,000 through Piermont Bank, Member FDIC.

This free model is particularly appealing to new freelancers, sole proprietors, or those with simpler business operations who need a consolidated financial solution without incurring monthly banking or accounting software fees.

For a business just starting out, avoiding these costs can be a substantial benefit.

Found Plus: The Premium Tier

While the free account offers a comprehensive set of features, Found.com also provides a premium subscription called Found Plus. This tier is designed for businesses that require more advanced functionalities and deeper insights. The website mentions “Found Plus” under its “PRODUCTS” section, indicating it’s an upgraded service, though the exact pricing details for Found Plus are not explicitly listed on the main landing page. Typically, premium tiers for financial software can range anywhere from $10 to $50+ per month, depending on the features offered.

Potential features that might be included in a Found Plus subscription, based on common industry practices and a general understanding of what “advanced” features entail, could be:

• Enhanced Reporting: More detailed financial reports, customizable dashboards, and deeper analytics for better business insights.
• Multi-User Access: The ability to add team members, accountants, or bookkeepers with specific permissions, which is crucial for growing businesses.
• Advanced Write-off Detection: Potentially more sophisticated algorithms or personalized guidance for identifying a broader range of tax deductions.
• Priority Customer Support: Faster response times or dedicated support channels e.g., phone support, live chat for premium subscribers.
• Integrations: Access to a wider array of third-party integrations with other business tools like CRM, e-commerce platforms, or more robust payroll services.
• Budgeting and Savings Tools Pockets: The website mentions “Budget & Save with Pockets” under “Found Plus,” suggesting that this feature, which allows users to allocate funds for specific purposes, might be part of the premium offering. This can be very useful for earmarking money for taxes, future investments, or operational expenses.

To get precise pricing for Found Plus, a user would likely need to sign up for a free account or navigate deeper into the website, as it’s not immediately apparent on the homepage.

This tiered approach is common in the fintech industry, allowing users to start with a free, functional service and upgrade as their business needs evolve.

Considerations for Pricing

While the “free” aspect is highly attractive, users should always consider the long-term value and whether the free tier is sufficient for their needs.

• Scalability: For a rapidly growing business, the limitations of the free tier might quickly become apparent, necessitating an upgrade to Found Plus or even a move to more comprehensive accounting software.
• Value for Money: If Found Plus is priced competitively and offers genuinely valuable advanced features, it could still represent good value, especially when compared to paying separately for business banking, accounting software, and tax preparation tools. A study by Capital One found that small businesses spend an average of $2,500 per year on financial management software and services. If Found Plus can consolidate these costs, it could offer significant savings.
• Avoiding Riba Interest: A crucial consideration for any financial product is its adherence to ethical principles, specifically avoiding Riba interest. While the core banking service is presented as fee-free, it is imperative to ensure that the mechanics of any savings features, or potential investment options, do not involve interest. Users must scrutinize the terms and conditions of “Pockets” or any future premium features to ensure they align with ethical financial guidelines. It is always better to seek services that promote genuine, honest transactions and avoid interest-based lending or savings, favoring alternatives like profit-sharing or ethical investment vehicles that do not involve interest.

Found.com Alternatives

For small business owners and freelancers seeking financial management solutions, Found.com is one option among many.

While its integrated approach is compelling, several alternatives offer similar or different sets of features, catering to diverse business needs and preferences.

When evaluating alternatives, it’s essential to consider factors like the complexity of your business, specific accounting requirements, budget, and the importance of integrated services versus best-in-class standalone tools. Productcodes.co.uk Reviews

1. Traditional Banks with Business Accounts

Many traditional banks offer business checking accounts tailored for small businesses.

While they may not have the integrated bookkeeping and tax tools of Found.com, they often provide a more extensive range of financial services and physical branch access.

• Pros:
  • Physical Branch Access: Ability to deposit cash, speak with bankers in person, and access ATMs readily.
  • Broader Service Offerings: Often include business loans though interest-based loans should be avoided, lines of credit, merchant services, and wealth management options.
  • Established Reputation: Long-standing institutions may offer a greater sense of security for some business owners.
• Cons:
  • Higher Fees: Many traditional business checking accounts come with monthly maintenance fees, transaction limits, and other charges.
  • Less Integrated: Typically require separate accounting software and tax tools, leading to more manual data entry or complex integrations.
  • Slower Digital Experience: Online banking platforms might not be as intuitive or feature-rich as fintech solutions.
• Examples: Chase Business Checking, Bank of America Business Advantage Checking, Wells Fargo Business Checking.

2. Dedicated Online Business Banking Platforms

Several online-only banks or fintech companies specialize in business banking, offering modern features without the overhead of physical branches.

*   Low to No Fees: Similar to Found.com, many offer fee-free or low-fee accounts.
*   User-Friendly Digital Interface: Often have intuitive mobile apps and online platforms.
*   Modern Features: May include virtual cards, budgeting tools, and easy integrations with other apps.
*   No Cash Deposits: Similar to Found.com, cash deposits can be challenging or require third-party services.
*   Limited Beyond Banking: While some offer basic expense tracking, they typically don't include the full suite of bookkeeping and tax tools Found.com provides.

• Examples: Novo, Bluevine, Mercury for tech startups.

3. Comprehensive Accounting Software Platforms

These platforms are primarily designed for bookkeeping and financial reporting, often offering robust features for invoicing, payroll, inventory, and more. Some also integrate with business banking.

*   Extensive Accounting Capabilities: Ideal for growing businesses with complex financial needs, offering detailed reporting, accrual accounting, and specific industry features.
*   Scalability: Can accommodate larger businesses with multiple employees, complex transactions, and advanced financial analysis.
*   Wide Integration Ecosystem: Connect with hundreds of third-party apps for CRM, e-commerce, payroll, etc.
*   Higher Cost: Often involve monthly subscription fees that can range from $20 to over $100, depending on the tier and features.
*   Steeper Learning Curve: Can be more complex to set up and use for individuals without accounting experience.
*   No Direct Banking: While they integrate with banks, they don't provide the banking service itself, meaning you'll still need a separate business bank account.

• Examples:
  • QuickBooks Online: A market leader with comprehensive features for small to mid-sized businesses, including invoicing, payroll, expense tracking, and reporting. It has various tiers catering to different needs. According to Intuit, QuickBooks Online serves over 7 million customers globally.
  • Xero: Popular for its user-friendly interface and strong reconciliation features, particularly favored by small businesses and accountants.
  • Wave Accounting: Offers free accounting, invoicing, and receipt scanning, with paid options for payroll and payment processing. This could be a strong competitor for the “free” aspect of Found.com’s core offering.
  • FreshBooks: Primarily known for its invoicing features, it also offers robust time tracking, expense management, and basic accounting for service-based businesses.

4. Specialized Tax Software

While Found.com offers real-time tax estimates, dedicated tax software is essential for filing taxes and managing more complex tax scenarios.

*   Comprehensive Tax Preparation: Handles various tax forms, deductions, and credits for businesses.
*   Audit Support: Many offer guarantees or support in case of an IRS audit.
*   Annual Cost: Typically an annual fee, not a monthly subscription for ongoing financial management.
*   Not Integrated with Daily Banking: Requires importing data from banking and accounting software.

• Examples: TurboTax Business, H&R Block Business, TaxAct.

Choosing the Right Alternative

The “best” alternative depends heavily on individual business needs.

• For simple operations/budget-conscious: Wave Accounting might be a strong contender, offering free core accounting and invoicing.
• For growing businesses needing robust features: QuickBooks Online or Xero would provide a more scalable and comprehensive accounting solution.
• For businesses with significant cash transactions: A traditional bank with physical branches might be preferable.

Ultimately, the choice comes down to balancing the convenience of an all-in-one solution like Found.com with the potentially deeper functionalities offered by specialized, standalone products.

It’s always advisable to carefully research each option, read reviews, and consider ethical financial principles, ensuring any selected service aligns with your values.

How to Cancel Found.com Subscription

If you’ve decided that Found.com no longer meets your business needs, or if you’re transitioning to a different financial management solution, understanding the process for canceling your subscription is crucial.

While the main website focuses on signing up, information on cancellation is typically found within the platform’s help center or settings. Onlinecv.es Reviews

Based on common practices for online financial technology services, the cancellation process for Found.com, particularly for the premium “Found Plus” tier, generally involves a few steps within the application.

Cancelling Your Found Plus Subscription

For users who have upgraded to Found Plus, the cancellation process will primarily relate to discontinuing the premium features and reverting to the free tier, or fully closing the account if desired.

1. Log In to Your Found Account: The first step is to log into your Found.com account, either through their web portal or mobile application. Accessing your account settings is essential for managing your subscription.
2. Navigate to Subscription or Settings: Look for a section related to “Subscription,” “Settings,” “Account Management,” or “Found Plus.” This is where payment details and subscription preferences are typically managed.
3. Find the Cancellation Option: Within the subscription management area, there should be an option to cancel or downgrade your Found Plus subscription. This might be labeled as “Manage Plan,” “Change Plan,” or “Cancel Subscription.”
4. Follow On-Screen Prompts: The platform will likely guide you through a series of prompts to confirm your cancellation. This might include asking for a reason for cancellation for feedback purposes or confirming that you understand the features you will lose by downgrading.
5. Confirmation: Ensure you receive a confirmation of your cancellation, usually via email. This serves as proof that your premium subscription has been successfully terminated and that you will no longer be charged for Found Plus.

Closing Your Found Business Account Entirely

If you wish to fully close your Found business bank account, including the free tier, the process may require additional steps, typically involving contacting customer support to ensure all funds are transferred out and the account is properly closed according to banking regulations.

1. Zero Out Your Balance: Before attempting to close your account, ensure that your balance is zero. Transfer any remaining funds to another external bank account. This is a critical step, as accounts with active balances cannot be closed directly.
2. Download Necessary Statements and Records: It is highly advisable to download all your transaction history, bank statements, and any relevant tax documents like 1099s if applicable before closing your account. This ensures you retain access to crucial financial records for future reference and tax purposes. Found’s website highlights its tax tools, implying comprehensive record-keeping, so make sure to leverage this feature before closing.
3. Contact Found Support: Based on the website’s emphasis on “Real support from real people,” it is most likely that closing the entire account requires direct communication with their support team. You can typically find their contact information likely email in the “Help Center” or “Contact Us” section.
   • Email Support: Send an email clearly stating your intention to close your business account. Include your account details for verification.
   • Follow Verification Steps: Found’s support team will likely guide you through a verification process to confirm your identity and ensure you are the authorized account holder. This is a standard security measure.
   • Confirm Account Closure: Once verified and all conditions met, the support team will confirm the closure of your account. Ensure you receive a formal confirmation.

Important Considerations

• Data Retention: While your account is closed, inquire about Found’s data retention policy. Businesses are often required to keep financial records for several years for tax and legal purposes.
• Linked Accounts: If you have linked your Found account to other payment apps Venmo, Cash App, PayPal or business services, remember to update those connections with your new banking information to avoid disruptions.
• Direct Deposits/Payments: If your Found account receives direct deposits or is used for recurring payments, ensure all those arrangements are updated to your new banking details before closing the account.
• Review Terms of Service: Always review Found.com’s specific Terms of Service or User Agreement for the most accurate and up-to-date cancellation policies, as these can change.

By following these steps, you can effectively manage your Found.com subscription and account, whether you’re simply downgrading or fully closing your business banking relationship.

How to Cancel Found.com Free Trial

Found.com primarily positions itself as a “get started for free” service rather than offering a distinct “free trial” period.

This means that the core banking, bookkeeping, and basic tax tools are available without an initial charge.

If a user chooses to upgrade to “Found Plus” for advanced features, that would constitute a subscription service, not a trial that automatically begins billing after a set period.

Therefore, the concept of “canceling a free trial” in the traditional sense doesn’t directly apply to Found.com’s initial offering.

Instead, users start with a perpetual free account that provides essential functionalities.

Understanding Found’s “Free” Model

• Always Free Basic Features: Found.com’s base account provides a business checking account, automated expense tracking, basic tax tools, and unlimited invoicing at no cost. There’s no trial period that expires. these features are genuinely free for as long as you use the service.
• Optional Premium Upgrade “Found Plus”: The “Found Plus” tier is an optional upgrade for users who need more advanced features. This would be a paid subscription, and its cancellation would follow the steps outlined in the “How to Cancel Found.com Subscription” section above. You would not automatically be enrolled in Found Plus unless you explicitly sign up for it.

What to Do If You No Longer Want to Use Found.com Free Account

If you’ve signed up for the free Found.com account and decide you no longer wish to use it, you’re not “canceling a trial” but rather closing your free account. Giantpartners.com Reviews

The process is straightforward, similar to closing any basic bank account:

1. Transfer Out All Funds: The most critical step is to ensure your Found account balance is zero. Transfer any remaining money to another bank account you own. You cannot close an account with an active balance.
2. Download Financial Records: Before closing, download all your transaction history, statements, and any tax-related documents that Found has generated for you. This is vital for your financial records and tax compliance.
3. Unlink Connected Services: If you’ve linked your Found account to payment apps like Venmo, Cash App, PayPal or other business services, update those connections with your new banking information to prevent any disruption in payments or services.
4. Contact Found Support to Close Account: Since the free account is a live business bank account, you’ll need to formally request its closure.
   • Email: Reach out to Found.com’s customer support team likely via email, as advertised and clearly state your request to close your business account. Provide necessary identification details for verification.
   • Follow Instructions: The support team will guide you through any necessary steps to verify your identity and confirm the account closure.
   • Receive Confirmation: Ensure you get a confirmation that your account has been successfully closed.

Key Takeaway

Found.com’s “free” model is a key differentiator, providing a zero-cost entry point for essential business banking and financial management.

There is no trial period that automatically converts to a paid subscription. Any “cancellation” pertains to either:

• Downgrading from Found Plus: If you subscribed to the premium tier and wish to stop paying, you’d cancel that specific subscription.
• Closing Your Free Account: If you no longer need the free business banking and tools, you would formally close the account by contacting Found support and ensuring all funds are transferred out and records are downloaded.

This clear distinction between a free basic service and an optional paid upgrade is beneficial for users, as it removes the typical anxiety associated with trial periods that automatically charge your card if you forget to cancel.

Found.com vs. Competitors

When a small business or freelancer is looking for a financial management solution, comparing Found.com against its competitors is essential.

Each has its strengths and weaknesses, and the “best” choice depends heavily on the specific needs, size, and complexity of the business.

Found.com vs. Traditional Banks e.g., Chase Business Checking, Bank of America Business Advantage

Found.com’s Edge:

• Integrated Solutions: Found.com shines by combining banking, bookkeeping, and tax tools into one platform. This is its biggest differentiator. Traditional banks typically offer only banking services, requiring businesses to use separate accounting software like QuickBooks and tax tools.
• No Hidden Fees: Found explicitly promotes a fee-free model for its core services, without minimum balance requirements or maintenance fees. Many traditional banks impose various fees unless certain conditions e.g., high average daily balance are met.
• Automated Tax Features: The real-time tax estimates and automatic write-off suggestions are unique to Found and designed specifically for self-employed individuals, simplifying tax preparation significantly.
• Digital-First Convenience: Ideal for modern, tech-savvy entrepreneurs who prefer managing everything from an app or web portal.

Traditional Banks’ Edge:

• Physical Branch Access: For businesses that deal with cash frequently or prefer in-person support, traditional banks offer a network of branches and ATMs. Found.com is an online-only platform.
• Broader Financial Services: Traditional banks often provide a wider array of financial products, including various types of loans though interest-based loans should be avoided, lines of credit, wealth management, and complex merchant services. Found.com focuses primarily on banking and core financial management.
• Long-Standing Reputation: Established banks often have decades, if not centuries, of history, which can instill a greater sense of trust for some business owners.

Verdict: Found.com is generally better for digital-first, self-employed individuals or very small businesses seeking a streamlined, cost-effective all-in-one tool. Traditional banks are better for businesses needing physical branch access, complex lending solutions, or a very broad range of traditional banking services.

Found.com vs. Dedicated Online Business Banks e.g., Novo, Bluevine, Mercury

• Integrated Bookkeeping & Tax: This is where Found pulls ahead. While Novo and Bluevine offer good online banking, they don’t integrate comprehensive bookkeeping and tax estimation tools to the same extent as Found. Mercury is highly tailored for tech startups and doesn’t focus on the daily accounting/tax needs of a typical freelancer.
• Simplicity: Found’s focus on the self-employed means its interface and features are highly optimized for ease of use and simplicity, especially for those new to business finance.

Other Online Banks’ Edge: Theluxurybooking.co.uk Reviews

• Specific Niche Focus: Mercury excels for startups needing investor accounts and integrations. Bluevine offers higher transaction limits and often includes bill pay and even lines of credit. Novo integrates well with various third-party apps.
• Potentially Higher Transaction Limits/Cash Deposit Options: Some online banks, like Bluevine, might offer more accessible cash deposit options through retail networks e.g., Green Dot than Found.
• Varying Features: While Found integrates many features, specific online banks might excel in one particular area, e.g., higher interest on checking though interest-based accounts are generally not recommended.

Verdict: Found.com is ideal for freelancers and sole proprietors who value an all-in-one tool for banking, basic accounting, and tax estimation. Other online banks might be better if specific niche features e.g., startup-focused banking, more robust bill pay or more flexible cash deposit options are a higher priority.

Found.com vs. Comprehensive Accounting Software e.g., QuickBooks Online, Xero, Wave Accounting, FreshBooks

• Direct Banking Integration: Found combines banking and accounting directly. With QuickBooks or Xero, you’d still need a separate bank account and then link it. This tight integration means seamless data flow and no need for manual reconciliation of bank feeds.
• Cost Free Tier: Found offers a robust free tier for its core services. QuickBooks Online and Xero are paid subscription services, often starting around $20-$30/month and increasing with features. Wave Accounting offers a free core accounting, but its paid features for payroll or payment processing differ.
• Target Audience Simplicity: Found is built specifically for the self-employed, meaning its features are tailored to their simpler needs, avoiding overwhelming complexity.

Comprehensive Accounting Software’s Edge:

• Depth of Features: QuickBooks Online and Xero offer far more sophisticated accounting features, including accrual accounting, advanced reporting, inventory management, multi-currency support, project costing, and robust payroll solutions. For growing businesses with employees or complex operations, these are indispensable.
• Scalability: These platforms are designed to grow with a business, offering multiple tiers and add-ons that can handle increasing complexity.
• Wider Integration Ecosystem: They integrate with hundreds of third-party apps, from CRM to e-commerce platforms, offering a complete business management ecosystem.
• Professional Accountant Support: Accountants are generally more familiar with QuickBooks and Xero, making it easier to hand off books for review or tax preparation.

Verdict: Found.com is best for freelancers, solopreneurs, and very small businesses with straightforward financial needs who prioritize simplicity and cost-effectiveness with an integrated solution. QuickBooks Online, Xero, or FreshBooks are better for growing businesses, those with employees, or those requiring more advanced accounting, payroll, or reporting capabilities. Wave Accounting could be a strong free alternative for basic accounting if the user doesn’t need the integrated banking.

In conclusion, Found.com carves out a niche by offering a highly integrated, user-friendly, and often free solution for the self-employed.

Its strength lies in simplifying the often disparate tasks of banking, bookkeeping, and tax preparation.

However, for businesses with complex accounting needs, significant cash flow, or those seeking a broader range of traditional banking services, competitors might offer a more suitable solution.

It’s crucial for users to evaluate their own business requirements and growth projections before making a choice.

Found.com Security and Data Protection

For any online banking or financial management platform, understanding its security measures and data protection protocols is crucial for user confidence.

Found.com addresses this by highlighting several key aspects of its security framework on its website.

Core Security Measures

Found.com emphasizes a multi-layered approach to protecting user data and financial information. Bigbusinessevents.co.uk Reviews

This includes standard industry practices designed to safeguard against unauthorized access and cyber threats.

• Data Encryption: The website explicitly states “Data encryption and secure infrastructure.” This means that information transmitted between your device and Found’s servers, as well as data stored on their systems, is scrambled using advanced cryptographic algorithms. Encryption is a fundamental security measure that makes data unreadable to anyone without the proper decryption key, significantly reducing the risk of data breaches.
• Two-Factor Authentication 2FA: Found employs “Two-factor authentication 2FA.” This adds an extra layer of security beyond just a password. When you log in, in addition to your password, you’ll be required to provide a second form of verification, typically a code sent to your registered phone number via SMS or generated by an authenticator app. This ensures that even if someone manages to get your password, they cannot access your account without the second factor. According to the National Institute of Standards and Technology NIST, 2FA can block over 99.9% of automated cyberattacks.
• Comprehensive Fraud Monitoring: The platform mentions “Comprehensive fraud monitoring.” This indicates that Found.com has systems in place that continuously analyze transactions and account activity for suspicious patterns. If unusual activity is detected, the system can flag it, potentially alert the user, or even temporarily freeze the account to prevent fraudulent transactions. This proactive approach helps protect users from financial losses due to unauthorized activity.
• FDIC Insurance: While not a cybersecurity measure, the fact that “Banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor” provides crucial financial security. This means that even in the unlikely event of Piermont Bank’s failure, your deposits are protected by the U.S. government up to the specified limit. This adds a significant layer of trust regarding the safety of funds.

Compliance and Regulatory Adherence

As a financial technology company offering banking services through a partner bank, Found.com must adhere to various regulatory standards.

• Piermont Bank Partnership: The partnership with Piermont Bank, an FDIC member, means that Found’s banking operations fall under the purview of banking regulations. This includes compliance with rules regarding anti-money laundering AML, know your customer KYC procedures, and other financial compliance standards.
• Data Privacy Regulations: Found.com would also be expected to comply with data privacy regulations relevant to financial institutions in the United States, such as aspects of the Gramm-Leach-Bliley Act GLBA and other state-specific privacy laws.

Protecting Your Account

While Found.com implements robust security measures, users also play a critical role in protecting their accounts.

• Strong, Unique Passwords: Always use a strong, unique password for your Found.com account that combines uppercase and lowercase letters, numbers, and symbols. Avoid using easily guessable information.
• Enable 2FA: Actively ensure that Two-Factor Authentication is enabled for your account. This is one of the most effective ways to prevent unauthorized access.
• Monitor Account Activity: Regularly review your Found.com account for any unauthorized transactions or suspicious activity. Promptly report anything unusual to Found’s support team.
• Beware of Phishing: Be vigilant against phishing attempts. Found.com will never ask for your password or 2FA codes via email or unsolicited phone calls. Always verify the sender of emails and the legitimacy of websites before entering credentials.
• Secure Your Devices: Ensure that the devices you use to access Found.com computer, smartphone are secured with up-to-date operating systems, antivirus software, and strong passcodes.
• Wi-Fi Security: Avoid accessing your financial accounts over unsecured public Wi-Fi networks. If you must, use a Virtual Private Network VPN for an encrypted connection.

Found.com appears to implement industry-standard security practices to protect user data and funds.

The combination of data encryption, 2FA, comprehensive fraud monitoring, and FDIC insurance provides a solid foundation for security.

However, as with any online financial service, users must remain proactive in employing personal security best practices to maximize their protection.

Frequently Asked Questions

Is Found.com a legitimate bank?

No, Based on looking at the website, Found is a financial technology company, not a bank.

Banking services are provided by Piermont Bank, Member FDIC.

This means your funds are held at a regulated bank and are FDIC-insured.

Is Found.com FDIC insured?

Yes, the funds in your Found account are FDIC-insured up to $250,000 per depositor through Piermont Bank, Member FDIC, which provides the banking services. Caymanautos.co.uk Reviews

What are the main features of Found.com?

Found.com offers integrated business banking, automated bookkeeping, and tax tools.

Key features include a business checking account, a Mastercard® business debit card, unlimited invoicing, automatic expense tracking, real-time tax estimates, and contractor management.

Is there a monthly fee for Found.com?

No, Based on looking at the website, Found.com advertises no hidden fees, no minimum balance requirements, no opening fees, and no monthly maintenance fees for its core services. They offer a “get started for free” model.

Does Found.com offer a free trial?

No, Found.com doesn’t offer a traditional “free trial” that converts to a paid subscription.

Its core services are free for as long as you use them.

There’s an optional paid tier called “Found Plus” for advanced features, which is a subscription you opt into.

Can I deposit cash into my Found.com account?

Based on the information available on their main website, Found.com is an online-only financial technology company.

This typically means there are no physical branches for direct cash deposits.

Users might need to explore third-party services or alternative methods to deposit cash.

How does Found.com help with taxes?

Found.com helps with taxes by providing real-time tax estimates as you earn and spend, automatically categorizing expenses for potential write-offs, and allowing you to set aside money for taxes automatically. Movewithus.co.uk Reviews

It also assists with contractor management, like collecting W9s and processing 1099 payments.

Does Found.com offer a business debit card?

Yes, Found.com provides a Mastercard® business debit card.

You can also generate up to 20 virtual cards for enhanced spending management and security.

Can I integrate Found.com with other apps?

Yes, Found.com states it seamlessly integrates with top payment apps like Venmo, Cash App, and PayPal for easy payments.

Its overall integration ecosystem with other business tools may be more limited compared to dedicated accounting software.

Is Found.com suitable for freelancers?

Yes, Found.com is specifically designed for self-employed workers, freelancers, and sole proprietors, offering tools tailored to their unique business banking, bookkeeping, and tax needs.

NerdWallet has also recognized Found as a top banking option for freelancers.

How do I contact Found.com customer support?

Found.com states they offer “real support from real people,” with their support team being accessible via email.

Specific contact details are typically found in their Help Center or contact section.

How do I cancel my Found Plus subscription?

To cancel your Found Plus subscription, you would typically log into your Found account, navigate to your “Subscription” or “Settings” section, and find the option to manage or cancel your premium plan. Thelibertypublishers.com Reviews

You should receive a confirmation of your cancellation.

How do I close my Found.com business account?

To close your Found.com business account, you must first transfer out all funds to zero your balance and download all necessary financial records.

Then, contact Found.com’s customer support likely via email to formally request the account closure, and they will guide you through the verification process.

Does Found.com provide financial advice?

No, the information on Found.com’s website is not intended to provide, and should not be relied on for, tax or legal advice.

It is a financial tool, not a substitute for professional financial or tax consultation.

What kind of invoices can I send with Found.com?

You can send unlimited, customized invoices directly from your Found account.

The website implies support for various forms of payment, though specific details beyond linking to payment apps are not fully elaborated on the main page.

Are there any transaction limits with Found.com?

The main website highlights “unlimited ACH transfers.” While it emphasizes no hidden fees, specific daily or monthly transaction limits for debit card purchases or other types of transfers are not explicitly detailed on the homepage and would require reviewing the terms of service.

Does Found.com work with Apple Pay or Google Pay?

Yes, Based on looking at the website, Found accounts can be linked to Apple Pay and Google Pay for convenient mobile payments.

Can I get real-time spending notifications with Found.com?

While not explicitly stated on the main page, an online business banking platform like Found.com would typically offer real-time notifications for transactions and account activity to help users stay on top of their money. Antler.com Reviews

How quickly can I open a Found.com account?

Found.com states that you can “Sign up in as little as five minutes,” indicating a fast and streamlined account opening process.

Does Found.com offer budgeting tools?

Yes, Found.com mentions “Budget & Save with Pockets” under its “Found Plus” features.

This suggests that budgeting and allocating funds for specific purposes is available, likely as part of their premium offering.