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Accounting · head to head

Chargebee vs Modern Treasury

Chargebee logo

Chargebee

Accounting

Subscription billing & revenue management

From
Free
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

  • Only Chargebee has a free tier, so it costs nothing to try first.
  • Each has a real cost: Chargebee priced as a percentage of billing, 0.80 percent on pay-as-you-go or 0.65 percent plus $99 a month on the committed plan, so the fee rises with revenue; 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: Chargebee covers Subscription management, 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 Chargebee and Modern Treasury actually diverge.

Attributes where Chargebee and Modern Treasury differ
AttributeChargebeeModern Treasury
Starting priceFreeOn request
Pricing modelusage-basedquote
Free tierYesNo
PlatformsWeb, ApiWeb
Founded2011Unknown

Identical on both: 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 Chargebee

  • Subscription management
  • Recurring billing
  • Revenue recognition
  • Dunning management
  • Checkout pages
  • Stripe
  • PayPal
  • Salesforce

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.

Chargebee

  • Subscription billingnot Modern Treasury
  • Revenue operationsnot Modern Treasury
  • Pricing experimentationnot 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 Chargebee
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Chargebee
  • 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 Chargebee
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Chargebee

Where each one falls short

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

Chargebee

  • Priced as a percentage of billing, 0.80 percent on pay-as-you-go or 0.65 percent plus $99 a month on the committed plan, so the fee rises with revenue
  • Split into four separate product lines, Billing, CPQ, RevRec and Growth, each with its own tiers and most quote-only
  • CPQ Lite is free only for the first 50 quotes
  • Revenue recognition pricing is demo-only
  • Enterprise Plus requires an annual commitment

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

Chargebee

Free
  • Flow (Billing)Free
    • Usage-based billing: $0.80% for first $20K invoicing volume
    • Then $99 + 0.65% for higher volumes
    • Includes 100M usage events per month
  • CPQ LiteFree
    • Free for first 50 quotes
  • Growth (Starter)Free
    • Free exclusively for Chargebee Billing customers

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 Chargebee if

  • You need subscription management.
  • You want to start without paying.
  • You work on Web, Api.
  • You also want recurring billing.
Chargebee review

Choose Modern Treasury if

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

Questions people ask

Is Chargebee or Modern Treasury better?
Neither clearly leads. Chargebee starts at Free and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Chargebee or Modern Treasury?
Chargebee has a free tier; the other does not. Paid plans start at Free for Chargebee and On request for Modern Treasury.
Does Chargebee or Modern Treasury run on more platforms?
Chargebee runs on Web, Api. Modern Treasury runs on Web.
Can I use Chargebee for free?
Yes. Chargebee has a free tier, so you can try it without paying. Modern Treasury starts at On request.
What is Chargebee best used for?
Chargebee is most often used for subscription billing, revenue operations, pricing experimentation. Of those, subscription billing and revenue operations are not what Modern Treasury is typically brought in for.
What can Chargebee do that Modern Treasury cannot?
Chargebee covers Subscription management, Recurring billing, Revenue recognition, Dunning management. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Chargebee: What does Chargebee Billing cost?

Chargebee Billing (Flow plan) starts free with usage-based fees: 0.80% for the first $20K in monthly invoicing volume, then $99 monthly + 0.65% for higher volumes. Includes 100M usage events per month.

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.

Chargebee: Can I try Chargebee for free?

Yes. Chargebee Billing Flow plan starts at $0 with usage-based fees. CPQ Lite is free for the first 50 quotes. Growth (Starter) is free for Chargebee Billing customers.

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.

Chargebee: How much does Chargebee's advanced modules cost?

RevRec and Enterprise CPQ require booking a demo or requesting a quote. No list pricing is published for these modules.

Source
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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