Found Business Banking
$0 monthly fee + built-in taxes/bookkeeping for self-employed; APY only on paid plans or card-spend bonus
First Internet Bank Do More Business Checking
$0 monthly fee + modest checking APY + unlimited items, online-only, weak cash rails
Costs & Fees
| Metric | Found Business Banking | First Internet Bank Do More Business Checking |
|---|---|---|
| Monthly maintenance | Found Free $0. Optional Plus $35/mo or $315/yr; Pro $80/mo or $720/yr. No balance waiver required. | $0 unconditional |
| Fee waiver | N/A — Free tier has $0 maintenance; Plus/Pro are optional subscriptions | N/A — already $0 |
| Transaction fees | No excess-item or per-count fees on ACH, deposited checks, or electronic items. Unlimited standard ACH in/out. | Unlimited transactions; no per-item fees advertised. Footnote: 'Dollar amount restrictions may apply' — meaning not disclosed. |
| Overdraft/NSF | No overdraft fees. Account not designed to overdraft; negative balance from merchant adjustments or ACH timing risks closure. | Conflict: marketing says 'no overdraft fees.' Fee schedule lists Returned Item $20 and Uncollected Funds $30 (schedule dated 03/15/2018). Confirm at opening. |
| ATM fees | Found does not add ATM fee. Operator surcharge possible. No surcharge rebate. No branded free network. | Bank ATM fee $0. Third-party operator surcharge possible. Up to $10/month reimbursement of third-party ATM surcharges. No branded free network. 2% ISA on intl ATM/debit. |
| Wire/ACH | Incoming domestic: $0. Outgoing domestic: $15 (Free/Plus), $10 (Pro). Incoming intl USD: $0 (SWIFT LEADUS49). Outgoing intl: not disclosed/not offered. Standard ACH in/out: $0 unlimited. | Incoming domestic: $15. Outgoing domestic: $20. Incoming intl: $15. Outgoing foreign: $50. Standard ACH in/out: not disclosed as fee (treated as free). Business ACH default cap $25,000/day unless raised in writing. |
Interest & Yields
| Metric | Found Business Banking | First Internet Bank Do More Business Checking |
|---|---|---|
| Checking APY | Free: 0% ongoing. Yield is monthly Balance bonus labeled APY — variable, paid 1st of following month. | 0.50% APY variable — requires $10,000 average daily balance to earn interest. Daily Balance method. Below $10k ADB, effectively 0%. |
| Savings APY | N/A — Pockets are sub-accounts in same checking; same yield rules apply | |
| FDIC coverage | FDIC pass-through via Lead Bank — $250,000 per depositor per ownership category | Standard FDIC $250,000 per depositor per ownership category at First Internet Bank of Indiana |
Features & Access
| Metric | Found Business Banking | First Internet Bank Do More Business Checking |
|---|---|---|
| Branch/ATM network | No branches. Any Mastercard ATM for withdrawal — Found $0, no rebate. ATM cash-out $550/day new, $1,550/day established. No ATM cash deposit. | No branch network. HQ lobby Fishers, IN only. Any ATM for withdrawal — bank $0, up to $10/month surcharge rebate. No ATM cash deposit advertised. |
| Mobile app | iOS Found: Business Banking ~4.8 (~26k–34k ratings); Google Play ~4.7 (~16k–18.5k reviews) | iOS 4.3/5 (~265 ratings); Google Play ~4.1–4.2 (~115–116 reviews) |
| Virtual cards | Virtual + team cards with spend limits; lock/delete virtual cards | Not disclosed for this checking tier |
| Opening deposit | $0 | $100 conservative (official page silent; secondary sources split $0 vs $100) |
| Eligibility | Sole prop, single/multi-member LLC, C-Corp, S-Corp, partnership. Nonprofits can use banking/invoicing (tax tools poor fit). Up to 4 additional beneficial owners plus primary. | U.S.-based businesses; owner at least 18. Structures not fully published — NerdWallet cites sole prop, LLC, corp with EIN or SSN and formation docs. |
Pros & Cons
Found Business Banking
Pros
- $0 maintenance, $0 min balance, $0 overdraft fee, unlimited standard ACH (Jul 13, 2026 schedule)
- Native tax Pocket, estimates, write-offs, invoicing, and 1099 contractor tools on Free
- Pockets with dedicated account numbers; up to 5 businesses per login
- Incoming domestic + USD international wires at $0 from Found; SWIFT LEADUS49
- Optional 2.50% APY no cap on Pro; 1% card cash-back on Pro; strong app-store ratings
Cons
- Found is not a bank; pass-through FDIC $250,000 at Lead Bank only
- Cash ($2/deposit after 1 free/month) and mobile-check caps low for cash businesses
- Free APY is $0 or spend-gated bonus; Plus yield capped at $20k and can be eaten by subscription
- No surcharge-free ATM network; no ATM cash deposit
- Patterned freeze/hold complaints; outgoing FX wires, checkbooks, ICS, and W-2 payroll absent
First Internet Bank Do More Business Checking
Pros
- $0 monthly maintenance, $0 stated per-item fees, unlimited transactions (2026 FAQ)
- 0.50% APY on checking at $10k ADB — uncommon among free business checking (rate 6/16/2026)
- Balance Optimizer sweeps idle cash to First IB MMA at 2.94% / 3.64% without third-party sweep
- Phone support into evening and Saturday; Zelle for Business and account aggregation included
- Direct FDIC member bank (cert. 34607) — not a fintech/partner stack
Cons
- No usable cash-deposit system
- Incoming wires $15 even domestic — recurring cost for wire-paid businesses
- Checking APY modest and gated at $10,000 ADB; below that, yield effectively zero
- Standard FDIC $250k only; no advertised excess-insurance network
- Stale 2018 fee schedule vs 'no overdraft fees' marketing; check holds up to 7–9 business days
Verdict
Found Business Banking
Found is an online business checking platform from Indie Technologies with deposits at Lead Bank (FDIC Cert. 8283). Three tiers share same rails: Free ($0), Plus ($35/mo), Pro ($80/mo). Jul 13, 2026 schedule: $0 maintenance, $0 overdraft, unlimited free ACH. Costs on wires ($10–$15), mailed checks ($1, free Pro), Instant/Express payouts, cash ($2 after 1 free/month), dormancy ($10/12 mo). Yield: Free 0% or 2% card-spend bonus; Plus 1.50% on first $20k; Pro 2.50% no cap + 1% card cash-back. Differentiator is built-in tax Pocket, Schedule C books, invoicing, and contractor 1099s. Cash capped $2k/week and $4k/month at retail. $250k FDIC only. Strong app UX; freeze/support complaints are operational risk.
First Internet Bank Do More Business Checking
Do More Business™ Checking is First Internet Bank of Indiana's single-tier online SMB checking. Direct FDIC member (cert. 34607). $0 maintenance, unlimited items, no cash network. 0.50% APY requires $10k ADB (rate 6/16/2026). Balance Optimizer sweeps to internal MMA (2.94%/3.64%). Costs: $15 incoming wires, $20 outgoing domestic, $50 outgoing foreign, $10/month ATM rebate cap, $3 paper statements, $5/month dormant. Funds availability can hold checks 7–9 days. Strong phone hours and Zelle; weak for cash, incoming wires, and balances above $250k FDIC.