How do I pay a contractor?

Paying contractors in Found is as easy as sending money to anyone else. Here’s how:

On Mobile

1. On the Banking page, tap Send money.

2. Choose Pay a contractor from the menu.

3. Choose a contractor from your contacts list. If this is a new contractor, tap the Create New Contact button. This new contact will automatically be marked as a contractor to track 1099 payments.

4. Enter the amount you’re paying the contractor and tap Next.

5. Choose a payment method: Found (if the contact has a Found account), SMS, Email, or Bank account (if you have the contractor’s banking information). You can also enter an optional note, if desired.

6. Click Send.

On Desktop

1. Navigate to Contractor Management.

2. Click the Pay contractor button.

3. Choose a contractor from your contacts list. If this is a new contractor, click the Create New Contact button. This new contact will automatically be marked as a contractor to track 1099 payments.

4. Enter the amount you’re paying the contractor and choose a payment method: Found (if the contact has a Found account), SMS, Email, or Bank account (if you have the contractor’s banking information). You can also enter an optional note, if desired.

5. Click Send payment.

When you make payments to business contacts marked as contractors, Found will automatically mark those payments as being 1099 payments going forward. If you’ve made payments in the past, you can mark those as 1099 payments as well.

What deposit options are available to my contractor?

When sending a payment to a contractor by SMS or Email, your contractor will receive a notification from Found with information on how to receive your payment.

The notification message includes an option to securely accept payment, which will require the contractor to authenticate themselves through a one-time password. They’ll be taken to a new view with an array of options to accept their pay, including the following:

• Found account (instant and free)

• Debit card (instant with 1.75% fee)*

• Bank account (1-2 business days, free)

• Venmo (1-2 business days, free)

• PayPal (1-2 business days, free)

• Cash App (1-2 business days, free)

It is not required to create a Found account to receive payment, but transfers between Found accounts are instant and do not have fees associated with them.

*Transfer limits apply to instant debit card transfers and are subject to change. Some users may not be eligible to receive payment through a debit card.