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    For many of us, the best parts of being freelancers/self-employed is the flexibility and freedom to do what you like and earn money on your own schedule. One of the worst parts of being a freelancer? All of the bookkeeping and tracking for taxes!

    It gets especially tricky when you’re juggling multiple expense tracking apps, plus a tax program – and don’t even get me started if you freelance for multiple companies!

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    With so many banks out there, which bank for freelancers is the best? One option for freelancers is Found, which makes banking for freelancers easier than ever.

    Caption: If you’re a freelancer, you’re not alone – this job category is growing!

    This article was sponsored by Found but, as always, opinions are our own.

    Quick Summary:

    • Found is a bank designed especially for freelancers and the self-employed
    • Found provides freelancers with a business bank account and debit card to help them keep track of expenses, payments and more
    • Come tax time, Found also helps freelancers navigate their tax burden

    What is Found?

    Originally called Indie, Found was started by Lauren Myrick and Connor Dunn, former Square executives. In total, Found has raised over $75 million from investors such as Mischief, Sequoia Capital, and Lauren Farleigh. It is one of the best banks for freelancers.

    Found is an easy-to-use app that can be found on both the Google Play, and Apple Store apps. Signing up for an account is easy and takes just a few minutes.

    How Found Works for Freelancers

    There is no set standard of ‘freelancer.’ For example, I am a freelance writer, freelance handyman, freelance vlogger, and a few other things as well. If you’re a gig worker, chances are you drive for Uber, Lyft, a delivery service, and/or maybe you do other gig work as well!

    Doing all of that makes it complicated when tax time comes around because I have to compile all my income from various sources, plus catalog expenses ranging from hardware to video editing. Having a bookkeeping software is a must, and if that bookkeeping is also a bank account for the self-employed specifically, it makes everything so much easier.

    Found makes banking for freelancers easier with the ability to send an invoice. While there are plenty of companies out there that offer invoicing services, they can be expensive, complicated to set up or, worst of all, not even connect properly to your tracking and banking platforms! With Found, you have the ability to send an invoice directly from your bank and get your funds faster. 

    In addition to offering freelancers the ability to track their expenses and invoice, Found also provides a business bank account and debit card to help freelancers keep track of everything – including taxes.

    Get started with Found here.

    Found App Features

    Found is full of features that make it a great bank account option for freelancers.

    Many business bank accounts have fees that come along with them. That is not the case with Found! Instead, you’ll find a bank account for freelancers that allows you to bank with no fees.

    While that is great on its own, what makes Found even better for freelancers is that they also offer bookkeeping software that will keep track of your expenses. This includes not just purchases you make, but also miles traveled while working, which is a must-have for rideshare and delivery drivers. 

    Instead of using a different program for banking, expense tracking, and taxes, you can do it all in one place with Found.

    To me, the best feature that Found offers freelancers is tax help. They have estimated tax payments, auto-withholding, and tax payments from the account. It’s like having your own accountant – at a fraction of the price.

    Found knows – taxes are a headache for freelancers!

    Pros and Cons of Found App

    Pros

    • Easy to sign up and use 
    • Tracks expenses and shows you how much each expense saves in taxes
    • Send invoices directly from the app

    I cannot state enough how much I love the fact that I can send an invoice directly from my own bank. I typically have to send invoices from PayPal or another service, then once it gets paid, transfer it to my bank account. The ability to send an invoice directly from my bank account allows me to get the money faster and that is an amazing thing.

    Cons

    • Can take time to get approved. Some users reported taking a few days
    • Not able to take credit payments directly in the app
    • No bank to walk into

    For my businesses, I don’t accept credit card payments, but there are plenty of freelancers who do. A friend of mine is a massage therapist, and she needs to take credit card payments directly.

    On the other hand, Found can accept credit card payments for Invoices. So while you couldn’t accept a credit card transaction while out and about (let’s say you provide on-demand services), you could send an invoice to someone and accept credit cards.

    Also, you will not find a Found bank that you can physically walk into to get help. There is, of course, customer service that you can reach out to, and for most people, myself included, going into a bank is not a need. However, some people do love to walk into a bank and get help in person.

    Is the Found App Legit?

    Found is absolutely a legit app. 

    Because it’s new, you may be hesitant to try it out. After all, it is banking! However, from the research I’ve done and reviews I’ve read, the Found app is legit, and offers an incredible service to users.

    Very few banks cater to freelancers and offer all of these services in one – but Found does!

    Found App Alternatives

    Found is not the only banking app we have discussed and recommended. In fact, we have a list of banking apps we recommend, including the ones below.

    Found vs Varo Bank

    Varo is another banking app, but unlike Found, it is not designed specifically for self-employed people. 

    Varo does have an easy-to-use app and even has some cash-back options depending on where you’re shopping, which Found does not offer. 

    Ultimately, if you’re looking for an all-in-one bank account for freelancers, Found is likely the better option for you.

    Varo does offer some good interest rates on savings, more depending on the type of account.

    Found vs Chime

    Chime is a banking app that also has a feature that helps boost your credit. Which, if you for any reason have dropped your credit score, could be something that really helps you.

    The interest rates on accounts are on par with most banks. But again, Chime doesn’t have invoicing, or other bookkeeping options that Found does.

    Takeaways

    Overall, I’ve been freelancing for several years now and finding a banking option that does everything I need has been challenging. Some banks offer 90% of what I need, but missing that other 10% is a bummer.


    Found isn’t like that. Found is designed specifically for freelancers, meaning they’ve thought of almost everything a freelancer could need to manage the banking side of their business. I do hope Found expands to accept credit card payments directly, but it’s not a huge impediment to checking Found out!

    As a freelancer of many years, I think it’s worth it for freelancers to look into Found and see if it’s right for them.

    Get started with Found here.

    What are you currently using to track your expenses and manage your taxes? Is Found something you will try out?


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    -Tyler @ RSG

    Tyler Philbrook

    Tyler Philbrook

    Tyler Philbrook is a part-time Rideshare driver and freelance writer focused on finding the best ways to make money while enjoying life. Published on Disease Called Debt, Saving Advice, featured on The Penny Hoarder, and a mention in Pat Flynn's Superfans book. My favorite app for rideshare driving is Waze and Gridwise.