Found vs. Traditional Banks

Self-employed and frustrated with traditional banking? You're not alone. Traditional banks weren't built for the unique needs of small business owners—from irregular income streams to DIY tax management to juggling multiple business roles. Yet most banks still treat you like just another number, charging fees for minimum balances or requiring you to visit a branch for simple tasks.

But what if there was a better way? A financial solution designed specifically for the self-employed, offering the flexibility, tailored services, and understanding that you deserve?

Found was built differently. We combine business banking with bookkeeping and tax tools in one platform—giving you more time to focus on your business instead of managing your finances.

Found: A Game-Changer for Small Business Owners

Traditional banks often miss what small business owners actually need. Our team talks to hundreds of customers every week who are looking for a better, more affordable option. 

With over half the U.S. workforce predicted to be self-employed by 2027, traditional banking just won’t cut it anymore. As the population of independent workers continues to grow at record rates, a new solution is needed to serve them. 

And that’s where Found was born. Found was built to make owning a small business easier. With business banking and smart, simple financial tools, Found helps people seamlessly run their own businesses. 

With Found, you get access to all of the traditional banking products Found offers, as well as a suite of financial tools built specifically for the self-employed, such as:

• Found Mastercard Business debit card²: The cornerstone to every bank account. Use your card online, in-store, or in your digital wallet.

• Additional virtual and physical debit cards: You can streamline purchasing with virtual debit cards and additional physical cards. Create and share virtual cards in seconds to enable others to spend. You can also order additional physical cards for team members for $5. Easy tracking, limits, and card locking keep you in control.

• Get paid faster: Payday comes up to 2 days earlier⁶ with direct deposit into your account.

• Expense tracking done for you: Every time you use your Found Mastercard Business debit card², Found will track your expenses automatically, helping you find write-offs and save on taxes.

• Mileage tracking: Keep tabs on your driving, log trips, and calculate deductions right from the Found app.

• Capture and save receipts: Never lose track of another receipt with receipt capture and notes built right into the app.

• Auto-save for taxes: Found estimates how much you owe in taxes based on your income, and helps you set money aside for taxes when you get paid, so you’re ready on tax day.

• Find write-offs and save: Found automatically tracks expenses and finds write-offs, helping you deduct as much as possible.

• Generate tax forms: Depending on your business structure, Found can general Schedule C, Form 1120, and 1120-S for tax purposes

• Pay federal quarterly taxes: In-app quarterly tax payments are available to Found Plus subscribers.¹⁰

Gone are the days of toggling between various bookkeeping or invoicing platforms or mileage-tracking apps to run your business. With Found, you get access to these essential business banking tools, all-in-one bookkeeping, and intelligent tax features without sacrificing the quality or service a traditional bank might provide.

Feature Comparison: Found vs. Traditional Banks

Here’s what sets Found’s business checking account apart from traditional banks

7 Reasons to Switch from Traditional Banks to Found

See how Found’s business banking and powerful tools can be game-changers for you.

1. Found was built for small business owners. 

Traditional banks often overlook the unique needs of small business owners and self-employed individuals. In fact, a study by Aite-Novarica Group shows 84% of millennial-operated SMBs either are already using or have considered using alternatives to traditional banks to run their finances. Found's all-in-one platform integrates business banking, tax management, bookkeeping, and invoicing—simplifying tax withholding, expense tracking, and financial reporting so you can focus on running your business.

More than 700,000 business owners have chosen Found to help their businesses run more smoothly.

2. Found saves you time with full-featured banking. 

Found streamlines your financial management, saving you hours of tedious admin work. Track your income, expenses, and tax estimates—all from one app. Found also offers custom Pockets, multiple virtual cards, and cashback rewards.

Found Plus subscribers⁴ get even more: in-app tax payments for Schedule C filers, custom rules and categories, and 1.5% APY on balances up to $20K. You can import Venmo, PayPal, bank, and card transactions into Found to track everything in one place. Need to work with an accountant or bookkeeper? Collaborate with them right from your Found account.

3. Found saves you money.

Say goodbye to expensive monthly fees for multiple business tools. Found made core features free so small business owners can get value without worrying about subscriptions. When you use Found's built-in bookkeeping, invoicing, and contractor management, you can cancel your separate invoicing tool, payroll system, and QuickBooks.

For businesses wanting premium features like advanced bookkeeping functionality and priority customer support, Found Plus ($19.99/month or $149.99/year) saves you time and money compared to multiple subscriptions.

4. Found helps you with taxes.

Found makes it easy to estimate and automatically save for future tax payments. All Found customers can set aside a fixed percentage of deposits for tax savings. Sole proprietors can use Found's smart percentage feature, which estimates the taxes you need to set aside automatically. When you swipe your card, Found tracks business expenses and uses automatic categorization to help you find write-offs.

Found Plus subscribers who file a Schedule C can pay federal taxes through the app.*

5. Your money and data are safe and secure. 

Found's two-factor authentication, fraud monitoring, and data encryption keep your money and data safe. Monitor transactions with real-time expense notifications and lock your card at any time. You're in control—choose whether to approve withdrawals before they process, and unlock your cards with biometric authentication for quick, secure access. Found's security infrastructure undergoes annual third-party audits to ensure your account stays protected around the clock.

6. Convenience at your fingertips. 

With Found's mobile app and online platform, you can access your accounts, make transactions, and manage your finances from anywhere, at any time. No more waiting in line or working around restrictive branch hours.

7. Found will help you grow. 

As your business grows, Found grows with you. Ready to hire 1099 contractors? Found simplifies contractor management with built-in tools that streamline onboarding, W-9 collection, payments, and tax compliance.

Found also offers a comprehensive business toolkit with exclusive offers and resources—from obtaining a Tax Identification Number (TIN) and establishing an LLC to accessing discounted rates on small business insurance and setting up a custom email address.

Getting started with Found is easy.

It takes just minutes to sign up for Found, and creating an account is free. No credit check, no minimum deposits, and you can use your virtual card right away.

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

¹Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. FDIC insurance only covers the failure of an FDIC-insured depository institution.

²The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.

⁴Optional subscription to Found Plus for $19.99/month or $149.99/year. There are no monthly account maintenance fees, but other fees such as transactional fees for wires, instant transfers, and ATM apply. Read more.

⁵Subject to eligibility requirements, applicable terms and conditions, and service fees. See Terms of Service and Lead Account Terms for more details.

⁶Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.

⁷Found does not charge ATM fees, but some ATM providers may add their own fee.

¹⁰Tax payments are available for Found Plus subscribers who file a Schedule C.

¹⁴1.5% APY on balances up to $20K for Found Plus subscribers