Novo and Found both serve solopreneurs with no-fee business checking. Novo adds integrations and invoicing for small teams; Found bundles built-in bookkeeping and tax estimates aimed at 1099 / sole-prop workflows. Pick Found if automatic tax set-aside is the priority, Novo for broader integrations.
Novo (FDIC via Middlesex Federal Savings, as of recent disclosure)
Free, simple business checking for solo entrepreneurs and freelancers.
Pros
Apply at Novo (FDIC via Middlesex Federal Savings, as of recent disclosure) →
Found (FDIC via sponsor bank)
Banking + integrated bookkeeping + tax estimation — all in one app for self-employed.
Pros
Pick Novo if: Solo entrepreneurs, freelancers, single-member LLCs, and side-business operators who want a free simple business account they can open from a phone.
Pick Found if: Self-employed individuals (sole proprietors and single-member LLCs) who want banking and bookkeeping in the same app, especially those who underestimate quarterly tax obligations.
Apply at Novo (FDIC via Middlesex Federal Savings, as of recent disclosure) →Apply at Found (FDIC via sponsor bank) →
Yes — Found's built-in tax tools calculate estimated federal and self-employment taxes based on income and expenses categorized in the app, and can automatically move a set percentage of deposits into a tax savings pocket. This is a core differentiator for 1099 contractors, freelancers, and sole proprietors who pay quarterly estimated taxes. Novo does not offer built-in tax estimation — it integrates with external accounting tools instead. Verify current feature availability at found.com.
Novo charges no monthly maintenance fee, no minimum balance requirement, and no overdraft fee (it declines transactions that would overdraft instead). Found also has no monthly fee for the standard account; Found Plus is a paid tier that adds more advanced tax features. Both are FDIC insured through partner banks (Novo via Middlesex Federal Savings; Found via Piermont Bank and Evolve Bank). Neither requires a minimum opening deposit.
Novo integrates with Stripe, Square, PayPal, Etsy, Amazon, Shopify, QuickBooks, Wave, FreshBooks, and Xero — emphasizing invoicing and e-commerce connections. Found focuses on built-in bookkeeping and tax features rather than third-party integrations. If your workflow depends on connecting a business bank account to existing accounting software or sales platforms, Novo's integration list is broader; if you want tax automation native to your bank account, Found's built-in tools reduce the need for external software.
Yes — both are FDIC insured through their partner banks, each up to $250,000 per depositor per ownership category, the standard federal limit. Novo partners with Middlesex Federal Savings, F.S.B. for FDIC coverage; Found partners with Piermont Bank and Evolve Bank & Trust. If you hold more than $250,000 in business cash, confirm whether each platform offers any insured sweep network or additional FDIC-insured capacity, as that differs from the base account coverage. Source: FDIC.gov — standard $250,000 insurance limit.
Novo does not natively support Zelle — it focuses on ACH transfers, wire transfers, and integrations with payment platforms like Stripe, Square, and PayPal for incoming business payments. Found also does not support Zelle directly. Zelle availability at any bank depends on the partner bank's enrollment in the Zelle network, not the fintech's branding. If Zelle is essential to your business payment workflow, verify current Zelle availability at each partner bank's disclosure pages before opening an account.
Novo accepts sole proprietors, single-member LLCs, multi-member LLCs, corporations (S-corps and C-corps), and partnerships. You'll need to provide your EIN, business formation documents, and a government ID. Found is designed primarily for sole proprietors and 1099 freelancers — its bookkeeping and tax estimation features are built around Schedule C income, not multi-entity or payroll complexity. An LLC operating as a sole proprietor can use Found; a multi-member LLC or S-corp would typically find Novo (or a more robust business bank like Mercury or Relay) a better fit.
Independent editorial comparison. ClearValue Lending is not the issuer of any product compared here; affiliate links may pay a referral commission at no cost to you — selection is independent of compensation.