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Accounting · head to head

Invoice2go vs TrueLayer

Invoice2go logo

Invoice2go

Accounting

Mobile-first invoicing app for small businesses and freelancers

From
On request
Rated
-
Full reviewWebsite
TrueLayer logo

TrueLayer

APIs

Open banking payments and data across the UK and Europe, with the largest share of UK variable recurring payments

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.; TrueLayer variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • They diverge on capability: Invoice2go covers Invoice creation and customization, TrueLayer covers Pay by bank.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Invoice2go and TrueLayer actually diverge.

Attributes where Invoice2go and TrueLayer differ
AttributeInvoice2goTrueLayer
Pricing modelsubscriptionquote
CategoryAccountingAPIs

Identical on both: starting price (On request), free tier (No), platforms (web, ios, android), user rating (Not yet rated).

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 TrueLayer

  • Pay by bank
  • Variable recurring payments
  • Payouts and refunds
  • Account information
  • Account name verification
  • Signup and KYC support
  • Multi-country coverage
  • Hosted payment page

What people use each for

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

Invoice2go

  • Freelancers invoicing clients from a mobile devicenot TrueLayer
  • Small service businesses tracking estimates and projectsnot TrueLayer
  • Businesses wanting integrated card and ACH paymentsnot TrueLayer
  • Businesses syncing invoices with QuickBooks or Xeronot TrueLayer

TrueLayer

  • A UK subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring paymentsnot Invoice2go
  • A trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risknot Invoice2go
  • A marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected paymentsnot Invoice2go
  • A lender verifying income and affordability from bank transaction data rather than uploaded statementsnot 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.

TrueLayer

  • Variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • Payment conversion varies substantially by bank, and a bank with a slow or broken authentication journey drags results down regardless of vendor, so aggregate coverage numbers say little about your actual mix.
  • Pay by bank has no chargeback mechanism, which merchants like until a customer disputes a purchase and finds no scheme protection, making it a poor fit for categories where buyers expect card style recourse.
  • Pricing is unpublished and varies by market and product, so multi-country merchants cannot model cost without a full sales engagement and often find rates differ significantly between countries.
  • Open banking authentication requires the customer to leave the checkout and authorise in their banking app, and that redirect remains the largest source of drop-off compared with a stored card.

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

TrueLayer

On request
  • TrueLayer Payments and Data$undefined/year
    • Per-payment fees quoted by volume, market and product
    • Separate commercial terms for payment initiation, VRP and account information
    • Platform and minimum commitment terms negotiated per contract

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 TrueLayer if

  • You need pay by bank.
  • You work on Web, iOS, Android.
  • You also want variable recurring payments.
TrueLayer review

Questions people ask

Is Invoice2go or TrueLayer better?
Neither clearly leads. Invoice2go starts at On request and TrueLayer at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Invoice2go or TrueLayer?
Invoice2go starts at On request and TrueLayer at On request.
Does Invoice2go or TrueLayer run on more platforms?
Invoice2go runs on web, ios, android. TrueLayer runs on Web, iOS, Android.
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 TrueLayer is typically brought in for.
What can Invoice2go do that TrueLayer cannot?
Invoice2go covers Invoice creation and customization, Estimates and projects, In-app payments, Automated reminders. TrueLayer covers Pay by bank, Variable recurring payments, Payouts and refunds, Account information.

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
TrueLayer: Is VRP available outside the UK?

No. Variable recurring payments are a UK capability. EU adoption is on a slower path, with UK commercial VRP expanding into ecommerce during 2026.

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
TrueLayer: What does TrueLayer cost?

Not published. Per-payment fees are quoted by volume, market and product, usually with a platform component and a minimum commitment.

Invoice2go: Does Invoice2go integrate with accounting software?

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

Source
TrueLayer: Are there chargebacks on pay by bank?

No. Bank transfers have no card scheme chargeback mechanism, which removes that cost but also removes buyer recourse, so it suits some categories and not others.

TrueLayer: Which countries are covered?

The UK plus a substantial set of European markets under PSD2, though bank-level coverage and conversion vary by country and should be checked for your specific mix.

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