Terms of Service
Last Updated: June 6, 2023
Welcome to the Indie Technologies, Inc. (dba Found) (“Found”, “we”, or “us”) website located at https://found.com (the “Site”). These Terms of Service and any Additional Terms as discussed herein (collectively, the “Terms”) are a legal agreement between you, as a current or prospective user of Found’s services (“you,” “your”), and Found. Please read these Terms and our Privacy Policy (“Privacy Policy”) carefully because they govern your use of our Site and our financial management and certain banking services designed for self-employed professionals accessible via our Site and our mobile device application (“App”). To make these Terms easier to read, the Site, our services and App are collectively called the “Services.”
Found is a financial technology company and 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. By opening a deposit account with Sponsor Bank through our Services (your “Account”), you also agree to the Piermont Business Account and MasterCard Agreement (available at https://found.com/legal/piermont-account-terms) and Piermont’s Privacy Policy (available at https://www.piermontbank.com/privacy-policy/). The banking services associated with your Account, and described herein, are provided by Sponsor Bank.
IMPORTANT NOTICE REGARDING ARBITRATION: WHEN YOU AGREE TO THESE TERMS YOU ARE AGREEING (WITH LIMITED EXCEPTION) TO RESOLVE ANY DISPUTE BETWEEN YOU AND CLIENT THROUGH BINDING, INDIVIDUAL ARBITRATION RATHER THAN IN COURT. PLEASE REVIEW CAREFULLY SECTION 22 “DISPUTE RESOLUTION” BELOW FOR DETAILS REGARDING ARBITRATION.
Agreement to Terms. By using our Services, you agree to be bound by these Terms which include any additional terms listed on our Legal Documents page that relate to your use of any of our Services or features thereof. If you don’t agree to be bound by these Terms, do not use the Services. If you are accessing and using the Services on behalf of a company or other legal entity, you represent and warrant that you have the authority to bind that company or other legal entity to these Terms. In that case, “you” and “your” will refer to that company or other legal entity.
Privacy Policy. Please refer to our Privacy Policy for information on how we collect, use, and disclose information from our users. You acknowledge and agree that your use of the Services is subject to our Privacy Policy.
Changes to Terms or Services. We may update the Terms at any time, at our sole discretion. If we do so, we’ll let you know either by posting the updated Terms on the Site or through other communications. It’s important that you review the Terms whenever we update them or you use the Services. If you continue to use the Services after we have posted updated Terms, you are agreeing to be bound by the updated Terms. If you don’t agree to be bound by the updated Terms, then, except as otherwise provided in Section 22(f) “Effect of Changes on Arbitration,” you may not use the Services anymore. Because our Services are evolving over time we may change or discontinue all or any part of the Services, at any time and without notice, at our sole discretion.
Who May Use the Services?
Eligibility. The Services are only available to residents of the United States. You may use the Services only if you can form a binding contract with Found. You agree to use the Services in compliance with these Terms, and all applicable local, state, national, and international laws, rules and regulations. We may require those users who have not reached the age of majority in their jurisdiction to provide us with parental or legal guardian consent to enroll in the Services. Any use or access to the Services by anyone under 13 is strictly prohibited. The Services are not available to any Customers of the Services previously removed from the Services by Found.
Registration and Your Information. If you want to use certain features of the Services you’ll have to create an Account). To create an Account, you will be asked to provide information requested by us or Sponsor Bank. Any information you provide will be collected and used in accordance with our Privacy Policy.
Prohibited Businesses. Found does not allow Account creation for businesses engaging in restricted and prohibited activities. A full list of Prohibited Businesses can be found at https://found.com/help/using-found/prohibited-businesses.
Accuracy of Account Information. It’s important that you provide us with accurate, complete and up-to-date information for your Account and you agree to update such information to keep it accurate, complete and up-to-date. If you don’t, we might have to suspend or terminate your Account. You agree that you won’t disclose your Account password to anyone and you’ll notify us immediately of any unauthorized use of your Account. You’re responsible for all activities that occur under your Account, whether or not you know about them.
Customer ID and Password Security. You are the only person authorized to use your Customer ID and password and for maintaining the confidentiality of your Customer ID and password. You shall not permit or allow other persons to have access to or use your Customer ID and password. You are responsible for the use of the Services under your Customer ID. You are responsible for protecting the information on your computer such as by installing anti-virus software, updating your software, password protecting your files, and not permitting third party physical or electronic access to your computer or Account.
Paperless and E-Sign Consent. When you use our Services you agree to our E-Sign Consent which details how we communicate with you electronically as well as your consent to use of electronic signatures.
No Professional Advice. Unless expressly stated in writing in a separate agreement between Found and you, Found does not provide legal, financial, accounting or other professional services or advice. If we provide you with written business or tax advice, the Services in no way constitute and are not a replacement for personal professional tax or business advice tailored to your specific needs. Although you may utilize our Services to help you (i) compile certain tax information and (ii) send funds from your Account for the payment of certain estimated tax payments, we are not a tax preparation service and will not file your taxes on your behalf. We are not responsible for determining your tax liability or the amounts that you need to withhold or save to cover such liability. You are solely responsible for your compliance with applicable tax laws.
Use of Services. Subject to the terms and conditions of these Terms, you are hereby granted a non-exclusive, limited, non-transferable, freely revocable license to use the Services as permitted by the features of the Services. Found reserves all rights not expressly granted herein in the Services.
Use Restriction. You may not use the Services to prepare or manage finances, expenses, or taxes for a third party on a professional or commercial basis (i.e., for a fee).
Technology Platform and Tax Services. Found is a technology platform through which self-employed people can manage their finances and expenses. Found provides certain Services to help estimate self-employment taxes, including but not limited to quarterly tax payments and financial impact of business write-offs.
Your Recordkeeping Responsibilities. You acknowledge and agree that you understand state and federal recordkeeping requirements, including those of the IRS and you agree to comply with those requirements and that as between you and Found, Found has no responsibility in this regard.
Service Level and Response Times. When we receive your notice that there has been a problem with the Services, a Found representative will acknowledge the report by issuing a confirmation to you, either by phone or email. Found typically responds to these reports within one (1) business day.
Additional Terms. Some Services, or features thereof, offered by us may be governed by additional terms specific to those products or Services (the “Additional Terms”). The Additional Terms can be found conveniently on our Site (https://found.com/legal/) or our App.
Discrepancies. You must notify us using the “Contact Us” information of any discrepancies in your Account within thirty (30) days of the activity date. Requests must include your name, and supporting documentation as we may request.
Limitation of Liability. YOU HAVE THE FINAL RESPONSIBILITY FOR THE ACCURACY OF ALL INFORMATION SUBMITTED TO US BY YOU, OR ON YOUR BEHALF, OR MAINTAINED FOR YOU THROUGH OUR SERVICES. WE DO NOT AUDIT OR OTHERWISE VERIFY THE INFORMATION THAT IS IN YOUR ACCOUNT OR ACCOUNT RELATED DOCUMENTS SUBMITTED TO THIRD PARTIES, INCLUDING TO TAX AUTHORITIES. IF SUCH DOCUMENTS CONTAIN ERRORS, THERE MAY BE AN ASSESSMENT OF ADDITIONAL TAX PLUS INTEREST AND PENALTIES.
WE ASSUME NO LIABILITY FOR ANY ADDITIONAL TAX, PENALTIES OR OTHER ASSESSMENTS. YOU ACKNOWLEDGE THAT ANY UNDERSTATED TAX, AND ANY PENALTY, INTEREST OR OTHER RELATED FEE OR COST IMPOSED BY ANY TAX AUTHORITY ARE YOUR RESPONSIBILITY, AND THAT WE HAVE NO RESPONSIBILITY IN THAT REGARD.
YOU ACKNOWLEDGE THAT WE ARE NOT LIABLE FOR ANY LOSS DUE TO ANY FINANCIAL OR PERSONAL DECISION YOU TAKE RELATED TO YOUR USE OF OUR SERVICES, ANY LOSS DUE TO INACCURATE INFORMATION THAT WE RECEIVE FROM YOU OR ANY THIRD PARTY RELATED TO YOUR USE OF OUR SERVICES, ANY DELAY IN FILING YOUR TAX RETURNS, AND ANY LOSS DUE TO YOUR INABILITY TO ACCESS OR USE THE SERVICES, YOUR ID OR PASSWORD, OR ANY LOSS DUE TO AN UNAUTHORIZED USE OF YOUR ACCOUNT.
Banking Services.
Account: As long as you are not in breach of these Terms or the Business Account and Mastercard Agreement, you shall be granted and have access to an Account provided through Sponsor Bank.
Bank Logins Tool Disclosure. Your use of the automated bank account feeds (“Account Aggregation Services”) in connection with opening your Account is subject to the following terms.
Provide Accurate Information. You agree to provide true, accurate, current and complete information about yourself and your accounts maintained at other websites, including financial institutions. You will not misrepresent your identity or your Account information. You agree to keep your Account information up to date
Third-Party Accounts. By using the Account Aggregation Services, you authorize Found and its service providers to access third-party sites designated by you, on your behalf, to retrieve information requested by you, and to register for Accounts. For all purposes hereof, you grant Found and its services providers a limited power of attorney, and you hereby appoint Found and its service providers as your true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for you and in your name, to access third-party internet sites, servers or documents, retrieve information, and use your information exclusively for the purposes of delivering banking service our Services to you. You understand that Found and its service providers may access your third-party accounts any time and obtain access to the information in such third-party accounts at any time while you have your Account with Found.
Check Deposits and Mobile Deposit Services.
As defined in the Check Clearing for the 21st Century Act (“Check 21”), a “check” is a draft, payable on demand and drawn on or payable through or at an office of a bank, whether or not negotiable, that is handled for forward collection or return, including substitute checks (see Section C.1) and traveler's checks.
You can only deposit checks into the Account using the mobile check deposit services (the “Check Deposit Services,” as further described herein) and in accordance with the terms of this Agreement.Substitute Checks and Your Rights. Federal rules for Check 21 allow banks to replace original checks with “substitute checks,” as defined in Check 21. Below are the details and your rights related to substitute checks.
Substitute Checks. To make check processing faster, federal law permits banks to replace original checks with “substitute checks.” These checks are similar in size to original checks with a slightly reduced image of the front and back of the original check. The front of a substitute check states: “This is a legal copy of your check. You can use it the same way you would use the original check.” You may use a substitute check as proof of payment just like the original check.
Some or all of the checks that you receive back from us may be substitute checks. This notice describes the rights you have when you receive substitute checks from us. The rights in this notice do not apply to original checks or to electronic debits to your account. However, you have rights under other laws with respect to those transactions.
Mobile Check Deposit Services. The Check Deposit Services allow you to make deposits to your Account from a compatible mobile device by scanning or photographing checks and delivering the images and associated deposit information to us or our designated processor. By using the Check Deposit Services, you agree to comply with all applicable laws and regulations and NACHA rules that apply to remote deposit check capture processing and ACH transaction processing.
Eligibility to Use the Check Deposit Services. Accountholders adhering to all requirements described herein may be eligible to use the Check Deposit Services. Not all Accounts are eligible for the Check Deposit Services. We may terminate your use of the Check Deposit Services at any time at our sole discretion. You may also stop using the Check Deposit Services at any time. However, any images or information transmitted through your use of the Check Deposit Services will continue to be subject to this Agreement after termination. We may change our eligibility criteria at any time with or without notice to you.
To use the Check Deposit Services, you must have an internet-enabled iOS or Android device with a camera, be enrolled in the Online Banking Service, and have downloaded our latest version of the mobile application containing the Check Deposit Services functionality.Eligible Items. You agree that the only images you will scan or capture and deposit (“transmit”) to your Account through use of the Check Deposit Services will be Eligible Items. “Eligible Items” include paper items that are defined as “checks” or “certified checks” under Federal Reserve Regulation CC and other paper items not otherwise prohibited by this Agreement. You agree that images deemed to be Ineligible Items (see Section C.5) may not be transmitted to your Account and will be rejected by us. You further agree that the image of the Eligible Item transmitted to us will be deemed an “item” within the meaning adopted in the Uniform Commercial Code of the State of New York.
Ineligible Items. You agree you will not use the Check Deposit Services to scan or deposit images of items that:
are not payable in United States currency;
are not drawn on a financial institution located in the United States;
are payable to someone other than you;
are money orders, savings bonds, or traveler’s checks;
are checks authorized over the telephone and created remotely;
are images of a check that never existed in paper form;
must be authorized or activated by us prior to being deposited;
have already been deposited by or returned to you;
are not legible or do not conform to our standards, as determined in our sole discretion;
are fraudulent, not authorized, suspicious, or not likely to be honored;
are not dated, are post-dated, or are more than six (6) months old when transmitted;
do not comply with the requirements established from time to time by any applicable statute, regulation, regulatory agency, clearing house, or association;
we deem to be Ineligible Items herein or at any other time, with or without prior notice to you;
do not comply with the requirements of the Agreement; or
do not meet the Technical Requirements described in Section C.6 and C.14.
These items, collectively, are “Ineligible Items” under this Agreement, and they are not eligible for deposit into your Account via the Check Deposit Services.Image Capture, Transmission, Processing, and Payment. All images you transmit to us using the Check Deposit Services must comply with the technical requirements we may specify from time to time (the “Technical Requirements”). You are responsible for all expenses you incur to meet the Technical Requirements. We reserve the right to change the Technical Requirements at any time without prior notice.
You are responsible for reviewing and validating the accuracy and completeness of any information you transmit to us, including the amount indicated on the item and the legibility of the image transmitted. You will only submit check images that meet our quality standards. You will not transmit an image or images of the same check to us more than once and will not deposit or negotiate, or seek to deposit or negotiate, such check or item with us or any other party.
You will be solely responsible for ensuring the quality, accuracy and completeness of the images you transmit using the Check Deposit Services. You will be solely responsible for the selection, use and operation of the mobile device you use to transmit images.
We can attempt to process, collect, present for payment, return or re-present images you attempt to transmit in any way we choose that is allowed by law.
We can also reject any transmission for any reason at our option and without liability. An image will be deemed received when you receive a confirmation from us that we have received the image. Receipt of such confirmation does not mean that the transmission was an Eligible Item or accepted.
If an image does not meet our requirements, we can also at our option:process the image as received for payment;
correct the image or its accompanying data and process the corrected image for payment;
process the deposit for payment in another format as allowed; or
debit (chargeback) your Account for the amount indicated in the image.
Successfully transmitting an image to us does not mean that your transmission and deposit are complete. All of your images are subject to our further verification prior to being accepted for deposit and payment. Do not destroy the item transmitted as an image until you see the full deposit amount posted when you view your transaction history via the [online banking services.]Limits for the Check Deposit Services. There may be limitations on the frequency and amount of transactions you can make using the Check Deposit Services, and we may change these limits at our sole discretion. If you attempt to initiate a deposit in excess of the limits we have set forth, we may reject your deposit.
Required Endorsements on Items You Deposit and Managing the Original Item. When you transmit an image to us, you will still have possession of the original item. To prevent an additional submission of the item for payment, you are required to take the following steps:
Before you transmit an image to us, you must endorse the original item being captured for transmission by signing the back of the original item and writing the words “For deposit only at Piermont Bank, N.A.” either above or below your signature.
After you transmit the image to us, you should write the date and the words “Deposited by Check Deposit Services” on the front of the item and keep the original item in a safe place.
You should not deposit or attempt to cash the item after transmitting the image to us.Availability of Your Deposits Using the Check Deposit Services. You acknowledge that items transmitted using the Check Deposit Services are not subject to the funds availability rules contained in Regulation CC. Funds deposited using the Check Deposit Services will ordinarily be made available to you for withdrawal within five (5) business days after the day you make your deposit. See Section C.10 for information concerning how we determine the day your deposit is made. We may make such funds available sooner based on the length and extent of your relationship with us, transaction and experience information, and other security and risk-related factors as we, in our sole discretion, deem relevant
Cutoff Times for Deposits Using the Check Deposit Services. If you successfully transmit an image to us before the cutoff time of 3:00 pm ET on a business day that we are open, we will consider that day to be the day of your deposit. After that time or on a day we are not open, we will consider the deposit to be made on the next business day that we are open.
Errors. You agree to notify us of any suspected errors regarding items transmitted through the Check Deposit Services right away, and in no event later than sixty (60) days after the first Account statement on which the error appears is made available to you. Unless you notify us of an error within sixty (60) days after the applicable Account statement is made available to you, all deposits made through the Check Deposit Services that appear on that statement will be deemed correct and we will have no obligation to investigate any claim of error you make.
Chargeback. We can chargeback your Account or any other deposit account you have with us for the amount of any item, its image or any other representation of an item that is:
returned to us; or
is rejected by us for any reason, including when we believe it has been previously submitted or deposited with us or with anyone else.
This is true even if you have made withdrawals against any amount we have credited to your Account for the deposited item that was returned or rejected.
We can also charge fees connected to the chargeback as described in your Account Agreement and any other agreements you have with us.Security. You are responsible for protecting your mobile device against unauthorized use as well as any Losses from unauthorized access. You will protect your mobile device, set up strong passwords and take other reasonable security precautions to protect your mobile device from unauthorized use. Always keep your passwords secret and remember that neither we nor any of our employees or agents will ever ask for your password. If you receive a communication from anyone requesting that you provide your password, do not respond. We are not responsible or obligated for any of these security precautions. If another person uses the Check Deposit Services with your mobile device, you will be responsible for their actions on the Account as well as anyone else they allow to use your mobile device. This will be true even if you did not want, or agree to, their use.
If your mobile device is lost or stolen, or if you believe there has been unauthorized activity involving the Check Deposit Services, tell us immediately by emailing us at [email protected] and promptly change your password.Check Deposit Services Disruption. The Check Deposit Services might not be available from time to time due to maintenance, technical problems or other reasons. We are not responsible if the Check Deposit Services are not available. We cannot assume responsibility for any technical or other difficulties or any resulting damages that you may incur. We reserve the right to change, suspend, discontinue, or limit your use of the Check Deposit Services, in whole or in part, immediately and at any time without prior notice to you.
Ownership and License. You agree that we retain all ownership and proprietary rights in the Check Deposit Services, associated content, technology, and website(s). Your use of the Check Deposit Services is subject to and conditioned upon your complete compliance with this Agreement. Without limiting the effect of the foregoing, any breach of this Agreement immediately terminates your right to use the Check Deposit Services. Without limiting the restriction of the foregoing, you may not use the Check Deposit Services:
in any anti-competitive manner;
for any purpose which would be contrary to our business interests (as deemed by us in our sole discretion); or
to our actual or potential economic disadvantage in any aspect.
You may not copy, reproduce, distribute, or create derivative works from the content and agree not to reverse engineer or reverse compile any of the technology used to provide the Check Deposit Services.Indemnification and Limitation of Liability. You will indemnify, defend, and hold the Indemnified Parties, and any of our services providers responsible for administering the Check Deposit Services, harmless from any and all Losses imposed on or sustained, incurred, or suffered by any of the Indemnified Parties or any of our services providers responsible for administering the Check Deposit Services, whether actual or threatened or proven or not, in respect of any and all Claims, without regard to the merit or lack thereof, arising from or related in any way to (a) your breach of the Agreement, (b) a return of a check deposit made using the Check Deposit Services due to incomplete or incorrect information provided, a closed account, or insufficient funds, and (c) fraudulent activity.
YOU AGREE YOUR USE OF THE CHECK DEPOSIT SERVICES AND ALL INFORMATION AND CONTENT (INCLUDING THAT OF THIRD PARTIES, INCLUDING OUR SERVICE PROVIDERS) IS AT YOUR RISK AND IS PROVIDED ON AN “AS IS”, "WHERE IS", AND “AS AVAILABLE” BASIS. WE DISCLAIM ALL WARRANTIES OF ANY KIND AS TO THE USE OF THE SERVICE, WHETHER EXPRESS OR IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. WE MAKE NO WARRANTY THAT THE SERVICE WILL (i) MEET YOUR REQUIREMENTS, (ii) BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, OR (iii) PROVIDE ACCURATE OR RELIABLE RESULTS.
You agree that neither we nor any service provider we use to facilitate the Check Deposit Services will be liable for any direct, indirect, incidental, special, consequential, exemplary or punitive damages, including damages for loss of profits, goodwill, use, data or other Losses resulting from the use or the inability to use the Check Deposit Services incurred by you or any third party arising from or related to the use of, inability to use, or the termination of the use of the Check Deposit Services, regardless of the form of action or claim (whether contract, tort, strict liability or otherwise), even if we have been informed of the possibility thereof.Termination. We may terminate your access to the Check Deposit Services for any or not reason, including due to your material breach of this Agreement, your fraudulent actions or omissions with respect to your use of the Check Deposit Services, if you become insolvent or file for bankruptcy, or if there is a change in the Rules that govern your use of the Check Deposit Services.
Contractor Onboarding Services
General. We provide tools to assist our users to collect and maintain tax related information from independent contractors (“Contractors”) that may provide, or have provided, services to them (the “Contractor Onboarding Services”). Through these Contractor Onboarding Services, users can request tax related information, such as W-9 information, and payment preferences from their Contractors to help manage and more efficiently pay their Contractors.
Contractor Use: If you are a Contractor, your use of our Services is subject to these Terms, and any information you share through the Services will be held and used in accordance with our Privacy Policy. When you use and participate in the Contractor Onboarding Services by providing Found any information requested by a Found user, you expressly authorizes us to share your tax related information with the Found user that requested such information from you.
Tax Services
Self-Employment Taxes. Found offers Services to help you estimate and deliver your quarterly Self-Employment Taxes.
General. Tax authorities, including the IRS, provide small businesses with many options for paying taxes or fees, and using our Services is not the only way in which you can pay your Self-Employment Tax. If you elect to authorize certain payments of Self-Employment Taxes to the IRS through the use of our Services, such payment will be subject to these Terms. “Self-Employment Taxes” as used herein has the same definition ascribed to it by the Internal Revenue Services (“IRS”). For more information please see the “Self-Employment Taxes” webpage: https://www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes.
Payment. Self-Employment Taxes that you authorize payment of will be made to the IRS via check using funds from your Account. Found is not a bank or a payment processor. Found partners with a third-party provider to assist in delivery of any Self-Employment Tax checks that you authorize. You agree that you are responsible for the accuracy of the information related to Self-Employment Taxes.
Necessary Funds. You agree to maintain a sufficient balance in your Account to pay Self-Employment Taxes or any other amounts due at the time required or at any time that your authorize such payments. Found shall not be liable for your failure to pay your Self-Employment Tax or if there are insufficient funds in your linked Account.
IRS Recommendations. The IRS recommends that you enroll in the U.S. Treasury Department’s Electronic Federal Tax Payment System (EFTPS) to monitor your tax account and ensure that any tax payments are being made in a timely manner. You may enroll in the EFTPS online at www.eftps.gov, or call (800) 555-4477 for an enrollment form.
Statement Creation and Delivery. Found also offers Services to enable you to generate and deliver certain statements and tax forms to third parties, including 1099s for Contractors that you pay using your Account. Additional, information on the functionality of and how to use these Services is provided to you in the App.
Responsibility. The Internal Revenue Code of 1986 (IRC) and IRS guidance set out various requirements related to payment of taxes and the form, function, and delivery of tax statements and related documents. Prior to using the Services described in this Section 9, we suggest that you confirm what requirements are applicable to you and your business. Found is merely a service provider and does not purport to assist you in complying with any law applicable to you or your business, including any IRS requirements. By using any of our tax related Services you acknowledge and agree that you, and not Found, are responsible and liable for meeting any IRS requirements such as requirements related to timely filing your tax returns, paying your taxes, providing statements or disclosures to third parties, or obtaining appropriate consent from recipients for electronic or other delivery. Additionally, you agree that you are responsible for the accuracy of the information that you (or any third parties at your direction) provide to us related to these Services, as well as any actions we take in reliance upon such information.
Fees. We reserve the right to change how we charge for access or use of the Services from time to time. Any such change will be communicated to you. You agree to pay any applicable fees as posted on the Site or in the App, plus any applicable taxes and other fees that may accrue in relation to your use of the Services. All fees are non-refundable and non-transferable unless otherwise provided in these Terms.
General. When you use any paid Services through Found, you expressly authorize us (or our third-party payment processor) to charge you for such fees. We may ask you to supply additional information relevant to the paid Services, including your credit card number, the expiration date of your credit card and your email and postal addresses for billing and notification (such information, “Payment Information”). You represent and warrant that you have the legal right to use all payment method(s) represented by any such Payment Information. You authorize us to provide your Payment Information to third parties as necessary to complete your purchase and to charge your payment method (plus any applicable taxes and other charges). You may need to provide additional information to verify your identity before completing your purchase (such information is included within the definition of Payment Information).
Subscription Services: Found offers certain paid Services to be paid for on a recurring basis (“Subscription Services”). Subscription Services may subject you to recurring fees and/or terms, which you must agree to in order to use such Subscription Services. By signing up for a Subscription Service, including after any free trial period, you agree to pay us the subscription fee and any applicable taxes (“Subscription Fee”). You authorize Found to collect any Subscription Fees directly from the balance in your Account. We reserve the right to cancel your Subscription Services if we are unable to successfully charge your Account or you have insufficient funds to renew your subscription. Unless otherwise provided on the Site, App, or otherwise at the time of your subscription, you may choose to pay for the Subscription Services on a monthly or yearly basis. Subscription Services automatically renew until cancelled, and applicable Subscription Fees will be charged each billing period until canceled. You may cancel Subscription Services at any time from the App settings. If you cancel Subscription Services, you will continue to have access to the Subscription Services through the end of your then current billing period, but you will not be entitled to a refund or credit for any Subscription Fee already due or paid.
Fees for the Receipt of Certain Debit and Credit Payments: Found charges you a small fee when you accept debt and credit payments via a Stripe Connect integration on invoices you create through the Found Invoice Generator. If you choose to receive such debit or credit payments in to your Account via a Stripe Connect account, you will be charged a fee of 0.2% per transaction. These fees are separate from any Third-Party Fees that you may incur, as described below.
Third-Party Fees: Sponsor Bank and other third-party service providers may charge their own fees for their services; unless otherwise indicated, our fees do not include amounts applicable to the Account provided by Sponsor Bank or other third-party sites or service providers under your respective agreements with them.
Your Content: Through your use of the Services, you may upload, transmit, post, generate, store, or otherwise make available to us certain information, data, passwords, usernames, PINs, other log-in information (including via the Account Aggregation Services), images, logos, materials and/or other content (your “Content”). For the avoidance of doubt, your Content includes any information regarding or related to a third party (including but not limited to your clients or customers) that you make available to us. By making your Content available through the Services you hereby grant to Found, its Sponsor Bank, and its service providers a non-exclusive, transferable, worldwide, royalty-free license, with the right to sublicense, use, reproduce, modify, adapt, publish, prepare derivative works of, distribute, publicly perform, and publicly display your Content throughout the world in any media for any reason, including to provide, promote, and/or incorporate into the Services. You represent and warrant that you have (and will maintain) all rights necessary to make your Content available to us and to grant us the license in your Content described herein. You are solely responsible for all your Content, and you agree that your Content is true, accurate, current and complete information. You represent and warrant that neither your Content, nor any use of your Content by Found on or through the Services will infringe, misappropriate or violate a third party’s intellectual property rights, or rights of publicity or privacy, or result in the violation of any applicable law or regulation. You retain all rights to your Content made available through the Services, subject to the rights you grant to us in these Terms. Found does not claim any ownership rights in your Content and nothing in these Terms will be deemed to restrict any rights that you may have to your Content. You can remove your Content by specifically deleting it or by emailing [email protected]. To the maximum extent permitted by law, we are not responsible or liable for the removal or deletion of (or the failure to remove or delete) your Content. Please note that any “Feedback”, as defined and further discussed below, is excluded from the definition of your “Content.”
Rights and Terms for Apps.
Rights in App Granted by Found. Subject to your compliance with these Terms, Found grants to you a limited non-exclusive, non-transferable license, with no right to sublicense, to download and install a copy of the App on a mobile device or computer that you own or control and to run such copy of the App solely for your own commercial purposes. Except as expressly permitted in these Terms, you may not: (i) copy, modify or create derivative works based on the App; (ii) distribute, transfer, sublicense, lease, lend or rent the App to any third party; (iii) reverse engineer, decompile or disassemble the App; or (iv) make the functionality of the App available to multiple users through any means. Found reserves all rights in and to the App not expressly granted to you under these Terms.
Accessing App from App Store. The following terms apply to any App accessed through or downloaded from any app store or distribution platform (like the Apple App Store or Google Play) where the App may now or in the future be made available (each an “App Provider”). You acknowledge and agree that:
These Terms are entered into between you and Found, and not with the App Provider, and Found (not the App Provider), is solely responsible for the App.
The App Provider has no obligation to furnish any maintenance and support services with respect to the App.
In the event of any failure of the App to conform to any applicable warranty, you may notify the App Provider, and the App Provider will refund the purchase price for the App to you (if applicable) and, to the maximum extent permitted by applicable law, the App Provider will have no other warranty obligation whatsoever with respect to the App. Any other claims, losses, liabilities, damages, costs or expenses attributable to any failure to conform to any warranty will not be the responsibility of the App Provider.
The App Provider is not responsible for addressing any claims you have or any claims of any third party relating to the App or your possession and use of the App, including, but not limited to: (i) product liability claims; (ii) any claim that the App fails to conform to any applicable legal or regulatory requirement; and (iii) claims arising under consumer protection or similar legislation.
In the event of any third party claim that the App or your possession and use of that App infringes that third party’s intellectual property rights, Found will be solely responsible for the investigation, defense, settlement and discharge of any such intellectual property infringement claim to the extent required by these Terms.
The App Provider, and its subsidiaries, are third-party beneficiaries of these Terms as related to your license to the App, and that, upon your acceptance of the Terms, the App Provider will have the right (and will be deemed to have accepted the right) to enforce these Terms as related to your license of the App against you as a third-party beneficiary thereof.
You represent and warrant that (i) you are not located in a country that is subject to a U.S. Government embargo, or that has been designated by the U.S. Government as a terrorist-supporting country; and (ii) you are not listed on any U.S. Government list of prohibited or restricted parties.
You must also comply with all applicable third party terms of service when using the App.
General Prohibitions and Found’s Enforcement Rights.
General Prohibitions: You agree not to do any of the following:
Post, upload, publish, submit or transmit any Content that: (i) infringes, misappropriates or violates a third party’s patent, copyright, trademark, trade secret, moral rights or other intellectual property rights, or rights of publicity or privacy; (ii) violates, or encourages any conduct that would violate, any applicable law or regulation or would give rise to civil liability; (iii) is fraudulent, false, misleading or deceptive; (iv) is defamatory, obscene, pornographic, vulgar or offensive; (v) promotes discrimination, bigotry, racism, hatred, harassment or harm against any individual or group; (vi) is violent or threatening or promotes violence or actions that are threatening to any person or entity; or (vii) promotes illegal or harmful activities or substances;
Use, display, mirror or frame the Services or any individual element within the Services, Found’s name, any Found trademark, logo or other proprietary information, or the layout and design of any page or form contained on a page, without Found’s express written consent;
Access, tamper with, or use non-public areas of the Services, Found’s computer systems, or the technical delivery systems of Found’s providers;
Attempt to probe, scan or test the vulnerability of any Found system or network or breach any security or authentication measures;
Avoid, bypass, remove, deactivate, impair, descramble or otherwise circumvent any technological measure implemented by Found or any of Found’s providers or any other third party (including another user) to protect the Services or Content;
Attempt to access or search the Services or Content or download any Content from the Services through the use of any engine, software, tool, agent, device or mechanism (including spiders, robots, crawlers, data mining tools or the like) other than the software and/or search agents provided by Found or other generally available third-party web browsers;
Send any unsolicited or unauthorized advertising, promotional materials, email, junk mail, spam, chain letters or other form of solicitation;
Use any meta tags or other hidden text or metadata utilizing a Found trademark, logo URL or product name without Found’s express written consent;
Use the Services, or any portion thereof, for any commercial purpose or for the benefit of any third party or in any manner not permitted by these Terms;
Forge any TCP/IP packet header or any part of the header information in any email or newsgroup posting, or in any way use the Services or Content to send altered, deceptive or false source-identifying information;
Attempt to decipher, decompile, disassemble or reverse engineer any of the software used to provide the Services;
Interfere with, or attempt to interfere with, the access of any user, host or network, including, without limitation, sending a virus, overloading, flooding, spamming, or mail-bombing the Services;
Collect or store any personally identifiable information from the Services from other users of the Services without their express permission;
Impersonate or misrepresent your affiliation with any person or entity;
Violate any applicable law or regulation; or
Encourage or enable any other individual to do any of the foregoing.
Enforcement Rights: Although we’re not obligated to monitor access to or use of the Services or Content or to review or edit any Content, we have the right to do so for the purpose of operating the Services, to ensure compliance with these Terms and to comply with applicable law or other legal requirements. We reserve the right, but are not obligated, to remove or disable access to any Content, at any time and without notice, including, but not limited to, if we, at our sole discretion, consider any Content to be objectionable or in violation of these Terms. We have the right to investigate violations of these Terms or conduct that affects the Services. We may also consult and cooperate with law enforcement authorities to prosecute users who violate the law.
Third Party Websites or Resources. We may utilize third-party providers to help facilitate the Services. Additionally, the Services or our communications may contain links or promotions related to third-party websites or resources. We provide these links only as a convenience and are not responsible for the content, products or services on or available from those websites or resources or links displayed on such websites. The inclusion of any website link does not imply an approval, endorsement, or recommendation by Found. If you decide to use third-party services, you will be responsible for reviewing and understanding the terms and conditions for such services. We are not responsible or liable for the performance of any third-party services. You acknowledge sole responsibility for and assume all risk arising from, your use of any third-party websites or resources. Further, you agree that Found is not responsible to remedy or resolve any disagreement between you and any such third-party whose website, services or products you may use.
Unauthorized Transfers: Tell us at once if you believe your Account or PIN or Access Information (as defined below) is lost or stolen or has been or may be subject to unauthorized Electronic Fund Transfers. Contact Found support at [email protected] or other available channels immediately to keep your possible losses to a minimum. You could lose all the money in your Account(s). If you tell us within two (2) business days after learning of the loss or theft of your account access device, or after learning of any other unauthorized transfers from your Account involving your account access device, you can lose no more than $50 if Electronic Fund Transfers are made without your permission. For these transactions, if you DO NOT tell us within two (2) business days after learning of the loss, theft or unauthorized use, and we can establish that we could have prevented the unauthorized transfer(s) if you had told us in time, you could lose as much as $500. Also, if your periodic account statement shows unauthorized transfers and you DO NOT tell us within sixty (60) days after the statement was delivered to you, you may not get back any money you lose after the sixty (60) day period if we can prove that we could have prevented the unauthorized transfer(s) if you had told us in time. If an extenuating circumstance (such as extended travel or hospitalization) prevents you from promptly notifying us of a suspected lost or stolen access device or of any other suspected unauthorized transfer(s), the time periods specified in this Section 15 may be extended for a reasonable period.
Independent Parties: You are not an employee, contractor or agent of Found, but are an independent third party who is current or prospective user of Found’s Services. Nothing in these Terms are intended to render Found and you as joint venturers, partners, or employer and employee.
Modification and Termination. We may terminate your access to and use of any or all of the Services, at our sole discretion, at any time and without notice to you. You may cancel your Account at any time by sending an email to [email protected]. As we continue to grow and our Services evolve, we may from time to time add or remove, suspend, stop, delete, discontinue or impose conditions on Services or any feature or aspect of a Service in our discretion. Upon any termination, discontinuation or cancellation of the Services or your Account, the following Sections will survive: 2, 5, 6, 7, 8, 10, 11, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, and 24.
Warranty Disclaimers. THE SERVICES ARE PROVIDED “AS IS,” WITHOUT WARRANTY OF ANY KIND. WITHOUT LIMITING THE FOREGOING, WE EXPLICITLY DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUIET ENJOYMENT AND NON-INFRINGEMENT, AND ANY WARRANTIES ARISING OUT OF COURSE OF DEALING OR USAGE OF TRADE. We make no warranty that the Services will meet your requirements or be available on an uninterrupted, secure, or error-free basis. We make no warranty regarding the quality, accuracy, timeliness, truthfulness, completeness or reliability of any Services.
Indemnity. You will indemnify, defend and hold harmless Found and its officers, directors, employees and agents, from and against any claims, disputes, demands, liabilities, damages, losses, and costs and expenses, including, without limitation, reasonable legal and accounting fees arising out of or in any way connected with (i) your access to or use of the Services or Content, (ii) your Content, or (iii) your violation of these Terms.
Limitation of Liability.
NEITHER FOUND NOR ANY OTHER PARTY INVOLVED IN CREATING, PRODUCING, OR DELIVERING THE SERVICES WILL BE LIABLE FOR ANY INCIDENTAL, SPECIAL, EXEMPLARY OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS, LOST REVENUES, LOST SAVINGS, LOST BUSINESS OPPORTUNITY, LOSS OF DATA OR GOODWILL, SERVICE INTERRUPTION, COMPUTER DAMAGE OR SYSTEM FAILURE OR THE COST OF SUBSTITUTE SERVICES OF ANY KIND ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES OR CONTENT, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT FOUND OR ANY OTHER PARTY HAS BEEN INFORMED OF THE POSSIBILITY OF SUCH DAMAGE, EVEN IF A LIMITED REMEDY SET FORTH HEREIN IS FOUND TO HAVE FAILED OF ITS ESSENTIAL PURPOSE. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF LIABILITY FOR CONSEQUENTIAL OR INCIDENTAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
IN NO EVENT WILL FOUND’S TOTAL LIABILITY ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OR FROM THE USE OF OR INABILITY TO USE THE SERVICES EXCEED THE AMOUNTS YOU HAVE PAID TO FOUND FOR USE OF THE SERVICES OR ONE HUNDRED DOLLARS ($100), IF YOU HAVE NOT HAD ANY PAYMENT OBLIGATIONS TO FOUND, AS APPLICABLE.
THE EXCLUSIONS AND LIMITATIONS OF DAMAGES SET FORTH ABOVE ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN FOUND AND YOU.
Governing Law and Forum Choice. These Terms and any action related thereto will be governed by the Federal Arbitration Act, federal arbitration law, and the laws of the State of California, without regard to its conflict of laws provisions. Except as otherwise expressly set forth in Section 22 “Dispute Resolution,” the exclusive jurisdiction for all Disputes (defined below) that you and Found are not required to arbitrate will be the state and federal courts located in the Northern District of California, and you and Found each waive any objection to jurisdiction and venue in such courts.
Dispute Resolution.
Mandatory Arbitration of Disputes. We each agree that any dispute, claim or controversy arising out of or relating to these Terms or the breach, termination, enforcement, interpretation or validity thereof or the use of the Services (collectively, “Disputes”) will be resolved solely by binding, individual arbitration and not in a class, representative or consolidated action or proceeding. You and Found agree that the U.S. Federal Arbitration Act governs the interpretation and enforcement of these Terms, and that you and Found are each waiving the right to a trial by jury or to participate in a class action. This arbitration provision shall survive termination of these Terms.
Exceptions and Opt-out. As limited exceptions to Section22.(a) above: (i) you may seek to resolve a Dispute in small claims court if it qualifies; and (ii) we each retain the right to seek injunctive or other equitable relief from a court to prevent (or enjoin) the infringement or misappropriation of our intellectual property rights. In addition, you will retain the right to opt out of arbitration entirely and litigate any Dispute if you provide us with written notice of your desire to do so by email at [email protected] or by regular mail at 981 Mission Street #64, San Francisco, CA 94103 within thirty (30) days following the date you first agree to these Terms.
Conducting Arbitration and Arbitration Rules. The arbitration will be conducted by the American Arbitration Association (“AAA”) under its Consumer Arbitration Rules (the “AAA Rules”) then in effect, except as modified by these Terms. The AAA Rules are available at www.adr.org or by calling 1-800-778-7879. A party who wishes to start arbitration must submit a written Demand for Arbitration to AAA and give notice to the other party as specified in the AAA Rules. The AAA provides a form Demand for Arbitration at www.adr.org.
If your claim is for U.S. $10,000 or less, you may choose whether the arbitration will be conducted solely on the basis of documents submitted to the arbitrator, through a telephonic or video-conference hearing, or by an in-person hearing as established by the AAA Rules. If your claim exceeds U.S. $10,000, the right to a hearing will be determined by the AAA Rules. Any arbitration hearings will take place in the county (or parish) where you live, unless we both agree to a different location. The parties agree that the arbitrator shall have exclusive authority to decide all issues relating to the interpretation, applicability, enforceability and scope of this arbitration agreement.
Arbitration Costs. Payment of all filing, administration and arbitrator fees will be governed by the AAA Rules. We’ll pay for all filing, administration and arbitrator fees and expenses if your Dispute is for less than $10,000, unless the arbitrator finds your Dispute frivolous. If we prevail in arbitration we’ll pay all of our attorneys’ fees and costs and won’t seek to recover them from you. If you prevail in arbitration you will be entitled to an award of attorneys’ fees and expenses to the extent provided under applicable law.
Class Action Waiver. YOU AND CLIENT AGREE THAT EACH MAY BRING CLAIMS AGAINST THE OTHER ONLY IN YOUR OR ITS INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING. Further, if the parties’ dispute is resolved through arbitration, the arbitrator may not consolidate another person's claims with your claims, and may not otherwise preside over any form of a representative or class proceeding. If this specific provision is found to be unenforceable, then the entirety of this Dispute Resolution section shall be null and void.
Effect of Changes on Arbitration. Notwithstanding the provisions of Section 3 “Changes to Terms or Services” above, if Found changes any of the terms of this Section 22 “Dispute Resolution” after the date you first accepted these Terms (or accepted any subsequent changes to these Terms), you may reject any such change by sending us written notice (including by email to [email protected] within 30 days of the date such change became effective, as indicated in the “Last Updated” date above or in the date of Found’s email to you notifying you of such change. By rejecting any change, you are agreeing that you will arbitrate any Dispute between you and Found in accordance with the terms of this Section 22 “Dispute Resolution” as of the date you first accepted these Terms (or accepted any subsequent changes to these Terms).
Severability. With the exception of any of the provisions in Section 22(e) of these Terms ("Class Action Waiver"), if an arbitrator or court of competent jurisdiction decides that any part of these Terms is invalid or unenforceable, the other parts of these Terms will still apply.
General Terms.
Entire Agreement. These Terms constitute the entire and exclusive understanding and agreement between Found and you regarding the Services, and these Terms supersede and replace any and all prior oral or written understandings or agreements between Found and you regarding the Services. If any provision of these Terms is held invalid or unenforceable by an arbitrator or a court of competent jurisdiction, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect. You may not assign or transfer these Terms, by operation of law or otherwise, without Found’s prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null. Found may freely assign or transfer these Terms without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.
Notices. Any notices or other communications provided by Found under these Terms, including those regarding modifications to these Terms, will be given: (i) via email; or (ii) by posting to the Services. For notices made by e-mail, the date of receipt will be deemed the date on which such notice is transmitted.
Waiver of Rights. Found’s failure to enforce any right or provision of these Terms will not be considered a waiver of such right or provision. The waiver of any such right or provision will be effectiveg only if in writing and signed by a duly authorized representative of Found. Except as expressly set forth in these Terms, the exercise by either party of any of its remedies under these Terms will be without prejudice to its other remedies under these Terms or otherwise.
Feedback. We welcome feedback, comments and suggestions for improvements to the Services (“Feedback”). You can submit Feedback by emailing us at [email protected], but we understand that you may post such Feedback to a third-party platforms (such as the AppStore® or Google Play store). You grant to us a non-exclusive, transferable, worldwide, perpetual, irrevocable, fully-paid, royalty-free license, with the right to sublicense, under any and all intellectual property rights that you own or control to use, copy, modify, create derivative works based upon and otherwise exploit the Feedback for any purpose, including our internal and external marketing purposes.
Contact Information. If you have any questions about these Terms or the Services, please contact Found at [email protected].
Questions? We’re here.
Email our support team at [email protected]
Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC.
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.