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Accounting · head to head

ADP vs Modern Treasury

ADP logo

ADP

Accounting

Always Designing for People

From
$29/month
Rated
-
Full reviewWebsite
Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: ADP no pricing is published; every quote is custom and driven by employee count and which services are taken; Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • They diverge on capability: ADP covers Payroll, Modern Treasury covers Multi-rail payment initiation.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which ADP and Modern Treasury actually diverge.

Attributes where ADP and Modern Treasury differ
AttributeADPModern Treasury
Starting price$29/monthOn request
Pricing modelsubscriptionquote
PlatformsWeb, Ios, AndroidWeb
Founded1949Unknown

Identical on both: free tier (No), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in ADP

  • Payroll
  • Tax services
  • HR management
  • Time & attendance
  • Benefits administration
  • QuickBooks
  • Sage
  • Oracle

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

What people use each for

The jobs each tool is most often brought in to do.

ADP

  • Payroll processing and tax filingnot Modern Treasury
  • HR administration and employee recordsnot Modern Treasury
  • Time and attendance trackingnot Modern Treasury
  • Benefits administrationnot Modern Treasury
  • Talent management on the mid-market and enterprise productsnot Modern Treasury

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot ADP
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot ADP
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot ADP
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot ADP

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

ADP

  • No pricing is published; every quote is custom and driven by employee count and which services are taken
  • Split into three separate products by company size, RUN for 1 to 49 employees, Workforce Now for 50 and above, and Lyric HCM for enterprise, so growing across a threshold means changing product rather than plan

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

Pricing, plan by plan

ADP

$29/month
  • Essential$79/month
    • Payroll
    • Tax filing
    • Direct deposit
  • Enhanced$139/month
    • HR tools
    • Background checks
    • Job posting

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

Which should you pick?

Choose ADP if

  • You need payroll.
  • You work on Web, Ios, Android.
  • You also want tax services.
ADP review

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Questions people ask

Is ADP or Modern Treasury better?
Neither clearly leads. ADP starts at $29/month and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, ADP or Modern Treasury?
ADP starts at $29/month and Modern Treasury at On request.
Does ADP or Modern Treasury run on more platforms?
ADP runs on Web, Ios, Android. Modern Treasury runs on Web.
What is ADP best used for?
ADP is most often used for payroll processing and tax filing, hr administration and employee records, time and attendance tracking, benefits administration. Of those, payroll processing and tax filing and hr administration and employee records are not what Modern Treasury is typically brought in for.
What can ADP do that Modern Treasury cannot?
ADP covers Payroll, Tax services, HR management, Time & attendance. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

ADP: How is ADP pricing organized?

ADP organizes pricing by business size: Small Business (1-49 employees), Midsized (50-999 employees), and Enterprise (1,000+ employees). Each segment receives customized pricing tailored to specific business needs.

Source
Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

ADP: Is there a current promotional offer for ADP payroll?

ADP currently offers 3 months free when signing up for small business payroll (promotion ends 9/24). Contact sales at 800-225-5237 for details and to request pricing based on your employee count.

Source
Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

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