Accounting · head to head
Divvy vs Modern Treasury
Modern Treasury
Accounting
Payment operations and ledger infrastructure that sits between your product and your own bank accounts
- From
- On request
- Rated
- -
The short version
- Only Divvy has a free tier, so it costs nothing to try first.
- Each has a real cost: Divvy divvy is now sold as BILL Spend & Expense and getdivvy.com redirects to bill.com; 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: Divvy covers Corporate cards, 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 Divvy and Modern Treasury actually diverge.
| Attribute | Divvy | Modern Treasury |
|---|---|---|
| Starting price | Free | On request |
| Pricing model | free | quote |
| Free tier | Yes | No |
| Platforms | Web, Ios, Android | Web |
| Founded | 2016 | Unknown |
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 Divvy
- Corporate cards
- Budget management
- Expense tracking
- Real-time visibility
- Accounting sync
- QuickBooks
- NetSuite
- 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.
Divvy
- Issuing corporate cards with pre-set budgets to employeesnot Modern Treasury
- Automating expense reports and receipt capturenot Modern Treasury
- Syncing card spend into accounting softwarenot 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 Divvy
- A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Divvy
- 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 Divvy
- An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Divvy
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Divvy
- Divvy is now sold as BILL Spend & Expense and getdivvy.com redirects to bill.com
- No standalone pricing is published for the spend and expense product; the site routes to a trial signup and sales contact
- Signup is gated behind selecting a business type and accounting software rather than being open self-serve
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
Divvy
Free- FreeFree
- Unlimited cards
- Expense management
- Budget controls
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 Divvy if
- You need corporate cards.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want budget management.
Choose Modern Treasury if
- You need multi-rail payment initiation.
- You also want bank connectivity.
Questions people ask
- Is Divvy or Modern Treasury better?
- Neither clearly leads. Divvy 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, Divvy or Modern Treasury?
- Divvy has a free tier; the other does not. Paid plans start at Free for Divvy and On request for Modern Treasury.
- Does Divvy or Modern Treasury run on more platforms?
- Divvy runs on Web, Ios, Android. Modern Treasury runs on Web.
- Can I use Divvy for free?
- Yes. Divvy has a free tier, so you can try it without paying. Modern Treasury starts at On request.
- What is Divvy best used for?
- Divvy is most often used for issuing corporate cards with pre-set budgets to employees, automating expense reports and receipt capture, syncing card spend into accounting software. Of those, issuing corporate cards with pre-set budgets to employees and automating expense reports and receipt capture are not what Modern Treasury is typically brought in for.
- What can Divvy do that Modern Treasury cannot?
- Divvy covers Corporate cards, Budget management, Expense tracking, Real-time visibility. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.
Answered from the vendors’ own pages
Divvy: What is the cheapest way to get started with spend and expense management?
BILL's Spend & Expense plan has a free tier with no per-user subscription fee, including corporate cards, budget management, and AI receipt capture. You only pay transaction fees for ACH ($0.59), checks ($1.99), or instant payments (1%).
SourceModern 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.
Divvy: What transaction costs apply when paying vendors?
ACH payments cost $0.59 per transaction, checks cost $1.99, virtual cards are free, and same-day ACH costs $11.99. International wire transfers cost $19.99. Card payments are 2.9%.
SourceModern 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.
Divvy: Does the free spend and expense tier include business credit lines?
The free Spend & Expense plan includes access to business credit lines ranging from $1,000 to $5 million, but credit lines are not guaranteed and eligibility is determined upon application approval.
SourceModern Treasury: Which rails are supported?
ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.
Divvy: What is the pricing for accounts payable if I need more than the free tier?
AP plans range from $49/user/month (Essentials) to $89/user/month (Corporate, most popular), with Enterprise at custom pricing. Higher tiers add accounting software integrations, procurement features, and approval controls.
SourceModern 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.
Related pages
More on Modern Treasury
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