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Banking Partner Transition FAQs

Banking Partner Transition FAQs

How do I upgrade my Found account?

Upgrading your Found account and moving to our new banking partner is easy: just open the Found app or log into your Found account using a computer. You'll be presented with a couple of agreements to review—once you've agreed to the new terms, you'll be provided with a new account and routing number.

I don't see the agreements, how do I upgrade?

If you're a Found app user with an iPhone and you haven't seen the new agreements, you may need to update your Found app. Here's how:

  1. Head to the iOS App Store & update your Found app.

  2. Once you open the updated Found app, you’ll be prompted to accept new customer agreements.

  3. Once you complete the steps your account will be upgraded.

When do I need to make the switch? Can I have more time?

You have until August 7th to accept the new customer agreements in your Found app. We are not able to extend this deadline, but it's an easy couple of clicks to get you up and running with our new banking partner.

What happens if I don’t upgrade my account?

If you do not accept the updated customer deposit and card holder agreement by August 7th, 2022, your Found account will be closed and a check for any remaining balance will be mailed to the address on file in your account. To avoid any disruption in your business, we strongly advise upgrading as soon as possible.

Why is Found changing banking partners?

Simply put, Found is working hard to provide the best banking services possible. Not only does this switch maintain the experience that you rely on to run your business, it enables us to expand our banking services to offer new features, funding methods, and more.

Who is your new banking partner?

We are excited to be partnering with Piermont Bank.

What happens if a direct deposit is sent to my old account number?

If you receive a direct deposit to your old account and routing numbers before August 7th, those funds will be redirected to your new account. When this happens, you’ll receive an email notification from Found letting you know that a deposit was received to your old account.

Be sure to update this information with any depositors as soon as possible to avoid any disruptions in receiving deposits. Any direct deposits made to your old account and routing numbers after August 7th will be returned to the sender.

Will I need a new debit card?

No. Your current Found debit card will work exactly as it does today.

Does migrating my account have any impact on any of my ongoing disputes, refunds, or pending transactions?

No. If you have any ongoing disputes, expected refunds, or any pending transactions, they will process as if nothing has changed at all.

Will I need to relink any accounts connected to my Found account?

Yes! Once you’ve signed the updated agreements, you’ll be provided with new account and routing numbers. Be sure to update any accounts you’ve previously added your Found account and routing numbers to.

We also recommend reviewing any accounts that you’ve linked your Found account to using your login credentials—particularly any accounts linked using Plaid or other bank connectors—to ensure that there is no disruption.

Will I still have access to my old bank statements?

Yes. All of your previous bank statements will be available.

What if I change my mind? Can I migrate back to my old account number?

Once you’ve signed the agreement, your old Found account will be closed. We will not be able to revert your account to your old banking information.

I don’t want to migrate. Can I close my account instead?

If you would prefer to close your Found account, you will be able to close your account and transfer out any remaining balance to a linked bank account.

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*Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.

The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.

The information on this website is not intended to provide, and should not be relied on, for tax advice.

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

Found partners with various providers to enable you to compare offers from participating institutions, such as lending, filing service, and insurance providers. Found is not a lender, a filing service, nor an insurance provider.

This website contains advertisement of Found and third party products and services.