Rho Business Banking
Startup / growth-stage digital treasury + $0 wires/ACH + sweep FDIC on savings; no cash, no branches
Found Business Banking
$0 monthly fee + built-in taxes/bookkeeping for self-employed; APY only on paid plans or card-spend bonus
Costs & Fees
| Metric | Rho Business Banking | Found Business Banking |
|---|---|---|
| Monthly maintenance | $0 unconditional on checking and savings — no paid banking subscription tiers | Found Free $0. Optional Plus $35/mo or $315/yr; Pro $80/mo or $720/yr. No balance waiver required. |
| Fee waiver | N/A — core banking is $0 | N/A — Free tier has $0 maintenance; Plus/Pro are optional subscriptions |
| Transaction fees | Unlimited electronic ACH, wires, checks at $0 on published pricing. Savings limited to 6 outbound transfers/month. | No excess-item or per-count fees on ACH, deposited checks, or electronic items. Unlimited standard ACH in/out. |
| Overdraft/NSF | $0 overdraft fees advertised; overdraft facility not published. NSF/return matrix not fully disclosed. | No overdraft fees. Account not designed to overdraft; negative balance from merchant adjustments or ACH timing risks closure. |
| ATM fees | Not offered — cards cannot withdraw cash at ATMs; no cash advance | Found does not add ATM fee. Operator surcharge possible. No surcharge rebate. No branded free network. |
| Wire/ACH | Incoming/outgoing domestic wire: $0. Same-day ACH: $0 before 2pm ET. Incoming intl: $0 Rho-side. Outgoing intl: $0 Rho fee + optional $15 SWIFT + 1% FX via Wise. Returned domestic wire ~$20–$45; recall $30 (conflict with help center 'recalls free'). | 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. |
Interest & Yields
| Metric | Rho Business Banking | Found Business Banking |
|---|---|---|
| Checking APY | 0% — non-interest-bearing DDA. Do not treat card cashback or Treasury yield as checking APY. | Free: 0% ongoing. Yield is monthly Balance bonus labeled APY — variable, paid 1st of following month. |
| Savings APY | Variable competitive yield — no public rate sheet number; check live rate at rho.co/business-savings. Requires $25,000 average monthly balance or no interest. | N/A — Pockets are sub-accounts in same checking; same yield rules apply |
| FDIC coverage | Checking: $250,000 at Webster/Santander. Savings: up to $75M advertised via ADM sweep ($250k per program bank). | FDIC pass-through via Lead Bank — $250,000 per depositor per ownership category |
Features & Access
| Metric | Rho Business Banking | Found Business Banking |
|---|---|---|
| Branch/ATM network | None. No branches, no ATM cash access. | 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. |
| Mobile app | G2 4.8 (~121 reviews); iOS ~4.6–4.8 (small n); Android ~3.8 (5 reviews); Trustpilot low-to-mid 3s | iOS Found: Business Banking ~4.8 (~26k–34k ratings); Google Play ~4.7 (~16k–18.5k reviews) |
| Virtual cards | Included — physical + virtual Mastercard with spend controls, merchant locks | Virtual + team cards with spend limits; lock/delete virtual cards |
| Opening deposit | $0 | $0 |
| Eligibility | U.S.-based incorporated businesses — LLC, C-corp, S-corp, nonprofits with EIN. Sole proprietorships NOT eligible per FAQ. EIN required to move money. | 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. |
Pros & Cons
Rho Business Banking
Pros
- $0 monthly, $0 same-day ACH, $0 domestic wires, $0 mailed checks on published pricing
- Checking at Webster/Santander (Santander U.S. org ~$327B post 8/20/2026 close)
- Savings ADM sweep advertises $75M FDIC per entity via 400+ bank network
- Treasury RIA securities book (T-bills + funds) with dated net-yield grid and $50k minimum
- AP, expenses, invoicing, and QBO/NetSuite/Sage/Xero bundled at $0 per seat with role/approval controls
Cons
- No cash, no ATMs, no branches — requires second bank for cash businesses
- Checking earns 0%; operating cash in checking is a yield leak
- $75M FDIC headline is savings-only; checking capped at $250k Webster
- Treasury 4.60% is VFSTX/$20M+/15bp case — SIPC not FDIC, market risk, 2–3 day liquidity
- Sole props ineligible; strict industry/geo KYC; savings APY not published; 6 savings transfers/month
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
Verdict
Rho Business Banking
Rho is a fintech (Under Technologies, Inc.) with checking and cards at Webster Bank, a division of Santander Bank, N.A. ($250k FDIC). Rho Savings is a separate ADM sweep to $75M (400+ banks) with $25k average balance gate for interest. Rho Treasury is SIPC securities (T-bills + funds) at $50k min with 15–60 bp wrap. Published banking price is $0 for monthly fee, ACH, same-day ACH, domestic wires, and mailed checks. Differentiator is bundled AP, expenses, invoicing, and ERP integrations at $0 per seat. No cash or ATMs. Checking 0% APY. Fits incorporated cashless startups; not sole props or cash businesses. Re-verify savings APY and Treasury yields quarterly.
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.