Found Fee Schedule

Last Updated: November 19, 2024

Found is not a bank. Found provides you with access to products and services provided by third parties, including Piermont Bank, Member FDIC, (“Sponsor Bank”) that offers Found-branded banking products and services. 

This Found Transaction Fee Schedule (“Fee Schedule”) is incorporated into the Found Terms of Service between Indie Technologies, Inc. dba Found (“Found”) and you. This Fee Schedule lists the fees that Found may charge in connection with certain transactions on your Account as identified in the chart below. Capitalized terms used in this Fee Schedule without definition shall have the meanings ascribed to them in the Found Terms of Service.

All fees and rates are subject to change. 

1. Costs. There are no fees for opening or using your Found account. This means you can transfer funds to and from your account, create invoices, and send payments with no charges. There are also no overdraft fees or minimum balance fees. Found offers two optional paid services to customers:

   1. Instant withdrawals: Found gives customers the option to transfer money from their Found account to an external debit card instantly. Found charges a 1.75% fee for these instant transfers.

   2. Found Plus: Found Plus is an optional paid service that gives customers access to advanced tools for their business. Found Plus costs $19.99 per month or $149.99 per year. You can learn more about Found Plus here.

   3. Wire Fees: Found provides optional outgoing wire functionality to its customers. You will be charged $15 per outgoing wire transaction when you submit the wire. The $15 fee will be refunded if the wire is canceled or rejected. The $15 fee is otherwise nonrefundable, including if the wire is returned. 

2. Fees charged by someone other than Found. There are a few situations where using your Found card or account can result in fees being charged by someone other than Found:

   1. ATM fees: Found does not charge you for ATM withdrawals, but some ATMs may add their own fee.

   2. International fees: You can use your card for international transactions in different currencies. When you do this, the card network will convert the transaction into US Dollars, and they may take a fee as part of this conversion.

   3. Invoice fees: When you pay an invoice using Stripe, a fee on the total payment is charged depending on the method used:

      1. When you pay an invoice via a debit or credit card, Stripe charges a 2.9% fee on the total payment, plus an additional 30 cents for processing.

      2. When you pay an invoice via direct debit, Stripe charges $1.50 per link + 0.8% per transfer. Please note: if you link but don't transfer you're still charged

      3. When you pay an invoice using Cash App Pay, Stripe charges a 3.1% fee on the total payment, plus an additional 30 cents for processing.

   4. Tap To Pay: When you use Tap to Pay to accept in-person, contactless payments, Stripe charges a 2.7% fee on the total payment, plus an additional 5 cent fee. Additionally, Stripe charges a 10 cent fee for each tap whether or not the transaction is successful.
      If the card number is entered manually, then Stripe charges a 2.9% fee on the total payment, plus 30 cent fee, plus 0.5%.

3. Check payment fees: Found charges you $1 per outgoing check when you submit the check. Found will return the $1 if the check is canceled within 30 minutes of submission. Note, Found will not return the $1 fee in any other situation other than explained in this section.