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Accounting · head to head

Invoice2go vs Modern Treasury

Invoice2go logo

Invoice2go

Accounting

Mobile-first invoicing app for small businesses and freelancers

From
On request
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: Invoice2go starter plan caps invoices at just 30 per year, forcing an upgrade for most active businesses.; 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: Invoice2go covers Invoice creation and customization, 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 Invoice2go and Modern Treasury actually diverge.

Attributes where Invoice2go and Modern Treasury differ
AttributeInvoice2goModern Treasury
Pricing modelsubscriptionquote
Platformsweb, ios, androidWeb

Identical on both: starting price (On request), 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 Invoice2go

  • Invoice creation and customization
  • Estimates and projects
  • In-app payments
  • Automated reminders
  • Accounting integrations
  • Team member access

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.

Invoice2go

  • Freelancers invoicing clients from a mobile devicenot Modern Treasury
  • Small service businesses tracking estimates and projectsnot Modern Treasury
  • Businesses wanting integrated card and ACH paymentsnot Modern Treasury
  • Businesses syncing invoices with QuickBooks or Xeronot 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 Invoice2go
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Invoice2go
  • 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 Invoice2go
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Invoice2go

Where each one falls short

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

Invoice2go

  • Starter plan caps invoices at just 30 per year, forcing an upgrade for most active businesses.
  • Card processing fees are higher than some dedicated payment processors.
  • Accounting integrations are limited to QuickBooks and Xero, excluding other platforms.
  • Premium plan requires roughly $100k+/year revenue to be cost-effective, per its own positioning.

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

Invoice2go

On request
  • Starter$undefined/month
    • 30 invoices/year
    • 3.5% card payment fee
    • Free ACH bank transfers
  • Professional$undefined/month
    • 100 invoices/year
    • 3% card payment fee
    • QuickBooks/Xero integration
  • Premium$undefined/month
    • Unlimited invoices
    • 2.9% card payment fee
    • Recurring invoices

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 Invoice2go if

  • You need invoice creation and customization.
  • You work on web, ios, android.
  • You also want estimates and projects.
Invoice2go review

Choose Modern Treasury if

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

Questions people ask

Is Invoice2go or Modern Treasury better?
Neither clearly leads. Invoice2go starts at On request and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Invoice2go or Modern Treasury?
Invoice2go starts at On request and Modern Treasury at On request.
Does Invoice2go or Modern Treasury run on more platforms?
Invoice2go runs on web, ios, android. Modern Treasury runs on Web.
What is Invoice2go best used for?
Invoice2go is most often used for freelancers invoicing clients from a mobile device, small service businesses tracking estimates and projects, businesses wanting integrated card and ach payments, businesses syncing invoices with quickbooks or xero. Of those, freelancers invoicing clients from a mobile device and small service businesses tracking estimates and projects are not what Modern Treasury is typically brought in for.
What can Invoice2go do that Modern Treasury cannot?
Invoice2go covers Invoice creation and customization, Estimates and projects, In-app payments, Automated reminders. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Invoice2go: What does Invoice2go cost?

Invoice2go offers three tiers - Starter (30 invoices/year), Professional (100 invoices/year), and Premium (unlimited invoices) - distinguished by invoice volume and card processing fees from 3.5% down to 2.9%.

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.

Invoice2go: Is there a free trial?

Yes, Invoice2go offers a 30-day free trial that requires a credit card but includes a 100% money-back guarantee if canceled within 30 days.

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.

Invoice2go: Does Invoice2go integrate with accounting software?

Yes, the Professional and Premium plans include integration with QuickBooks and Xero.

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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