Whether you’re paying a contractor, a supplier or a friend, you’ll find all the functionality you need right in your Found business bank account. You can send payments with Found in 3 different ways:
Found to Found payments. Payments to other people on Found are deposited instantly. To make a payment to someone that uses Found you can search a person by their phone number, email or Found Tag. You can identify another Found customer on the list by the Found logo on the right bottom corner of their profile photo or logo.
Send payment via text message or phone number. You can send a payment to someone with only their phone number or email address. This allows your payee to choose where to deposit their payment and protects their banking information. They receive an email or text message with easy steps to claim their payment by choosing a bank account or payment app like Cash App, Venmo or PayPal to deposit their payment into. If they don’t claim their payment within 7 days, your payment will be returned to you.
Send a direct deposit. You can also send payment to a business or individual when you have their bank account information. You will need to provide their account and routing number, account holder’s name and what type of account it is. Money will be sent directly into that bank account and it will take between 1-2 business days depending on the receiving bank.
Other powerful payments functionality that will help you run your business include:
Notes. You can send a note attached to your payment to let your payee know details of your payment.
Categorization. After you’ve sent a payment, Found will ask you if you want to categorize this payment. Selecting a category will consider your payment a business expense and automatically deduct it from your taxes.
Tracking payments for contractors. You can see all payments that you’ve made to a specific business contact by going to their contact details.
*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 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.