Explore the Highlights
What Is Intentional Business Banking?
Intentional business banking involves making purposeful decisions about where and how you manage your business’s money. It’s about selecting financial tools that align with your business goals, enhance efficiency, and support sustainable growth. This approach goes beyond basic banking services, focusing on comprehensive solutions that integrate seamlessly into your financial tech stack. Intentional business banking and smart financial management are essential for modern entrepreneurs. Choosing the right business banking platform can make all the difference by simplifying operations and driving growth. Found, a business banking service partnered with Piermont Bank (FDIC-insured), stands out as a forward-thinking option for service-based entrepreneurs ready to take charge of their finances.
Note: Rates and features described in this post are current as of the publication date. Please check Found’s official website for the most up-to-date information.
Why Intentional Business Banking Matters
Intentional business banking plays a crucial role in building a strong financial tech stack by ensuring that financial operations are streamlined, efficient, and aligned with business goals. It means selecting a platform that aligns with your business goals, streamlines daily operations, and supports long-term growth. business owners practicing intentional business banking stay organized, compliant, and financially proactive.
Key Features That Set Found Apart
1. Invoicing & Payments
Found simplifies the invoicing process with built-in tools that let you:
- Send Invoices: Create and send professional invoices directly from your Found account.
- Collect Payments: Accept payments via various methods, ensuring faster cash inflows.
- Transfer Funds: Transfer funds to yourself with standard transfers (1-2 business days) or instant transfers for just $1.75.
2. Vendor Payments
Managing vendor payments can be time-consuming, but Found makes it easy:
- Direct Deposits & Checks: Pay vendors by direct deposit or checks, keeping payment records organized.
- Low Fees: Each check costs only $1, with no mailing limit—helpful for businesses managing multiple vendors.
3. Cash Deposits
Many business banking platforms overlook cash-based businesses. Found supports cash deposits up to $2,000 per week through trusted retail partners, making it convenient for service-based businesses with occasional cash transactions.
Innovative Solutions for Modern Businesses
Found also offers a competitive Annual Percentage Yield (APY) on balances up to $20,000, allowing businesses to earn interest while managing day-to-day banking needs.
These features support intentional business banking for modern entrepreneurs by offering secure, streamlined, and efficient financial management solutions:
- Advanced Identification Verification: Found uses technology to match your ID with your face during account setup, ensuring a secure onboarding experience.
- Instant Deposits & Payments: With instant transfer options, Found keeps your cash flow moving smoothly.
- Compliance-Ready Vendor Tracking: Automatic tracking of 1099 information ensures businesses stay tax-compliant without extra effort.
- White Glove Setup Experience: Found provides personalized support during the setup process, aligning perfectly with Two Arrows’ commitment to high-touch client service.
Built-In Bookkeeping Tools
Found’s bookkeeping features are a game-changer for solopreneurs and service professionals:
- Expense & Income Tracking: Automatically track transactions, helping you stay on top of your finances.
- Tax Preparation: Prepare 1099 forms with ease, reducing the year-end tax prep scramble.
Note: While Found offers essential bookkeeping tools, it doesn’t fully replace advanced accounting platforms like QuickBooks Online, particularly when tracking assets, liabilities, and equity. Fortunately, Found integrates seamlessly with QuickBooks Online, enabling a smooth transition if your business’s financial needs expand.
FAQs About Choosing Found for Business Banking
1. Is Found only for solopreneurs or can larger businesses use it? Found is designed primarily for solopreneurs, freelancers, and small service-based businesses. While it offers robust features, larger businesses with complex financial needs may require more comprehensive platforms.
2. How secure is Found as a banking platform? Found partners with Piermont Bank, an FDIC-insured institution, ensuring that your funds are protected up to the standard insurance limits.
3. Can I use Found alongside other accounting tools? Yes! Found integrates seamlessly with QuickBooks Online, making it easy to scale your financial management as your business grows.
4. Does Found support cash deposits? Yes. You can deposit up to $2,000 in cash per week through trusted retail partners.
5. Are there fees associated with Found? While many of Found’s features are free, there are minimal charges for specific services like instant transfers ($1.75) and check mailing ($1 per check).
6. Can I send invoices and receive payments through Found? Absolutely! Found includes built-in invoicing tools, enabling you to create, send, and track invoices while accepting various payment methods.
Is Found Right for Your Business?
Intentional business banking means selecting a platform that aligns with your financial strategy, ensures compliance, and simplifies your daily operations. Found checks all these boxes with its powerful features, FDIC-insured security, and seamless bookkeeping integrations. It’s an ideal choice for modern entrepreneurs ready to bank smarter.
Have questions about streamlining your financial operations or how Found fits into a broader financial strategy? Let’s talk about building a system that works for your unique business needs!
Comments +