Found: who holds your money

Found's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Found is not a chartered bank, so customer money sits at Lead Bank, which has letter C on this site. The grade compares Lead Bank with banks of similar size on this site. FDIC deposit insurance reaches each customer through Lead Bank, provided Found’s records identify each customer. The stated limit is $250,000 per depositor, per insured bank, for each account ownership category, as of September 5, 2026.