Thriday vs. Paytron: Which is best for business owners?

vs.

Paytron is a tool for managing business spend. Paytron funds are not held in a FCS government backed transaction account. With Thriday, all your funds are protected up to $250,000 per account holder. Paytron is similar to Airwallex and is suited to businesses that have international suppliers and need to send money offshore. Paytron has integrations into Xero, so if you still want to pay for an accountant, all your data can be pushed into Xero. Paytron does not handle bookkeeping, accounting or tax, so you still need to use multiple systems to lodge your tax. This can lead to double-entry, manual handling and inconsistent reporting. Paytron has three different pricing packages with the most popular being $59 a month.

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Interest savings accounts

Any funds you have with Thriday will earn {{interestRate}} across all accounts while maintaining flexibility, functionality and security. Generally, fintechs that offer savings accounts or a return on your funds aren't keeping your money in an actual bank account* backed by the Commonwealth Financial Claims Scheme, which could put your money at risk. The best part is, there is nothing for you to do. Just keep your money in your Thriday accounts; interest is earned daily and paid monthly.

Monthly subscription

Paytron has multiple subscription packages. The most popular is $59.90 per month. By comparison, Thriday is much better value at only $29.95 per month, or $299.90 for the year. In addition, with Thriday you don’t need to spend money on other accounting software, bookkeepers or accountants which can easily add another $2,000 to your budget for the year.

$29.95 per month

$59.90 per month

$29.95 per month

$59.90 per month

Transaction fees

Paytron charges additional transaction fees for payments that you make from the platform. Depending on the subscription package you are on, this can range from $1 to $5 per transaction. If you need to pay bills this can end up being quite expense. With Thriday, any payments you make are free.

Fee free

From $1 per trans.

Fee free

From $1 per trans.

Registered tax agent (no. 26262416)

To automate your tax, BAS and accounting compliance, Thriday is a registered tax agent (registration number 26262416) with the Tax Practitioners Board (TPB). This means you can lodge your BAS and taxes directly from the Thriday platform and take advantage of expert support from registered tax agents.

FCS government-backed bank accounts

Thriday issues bank accounts* as an authorised representative of Regional Australia bank. This means all your funds are protected under the Financial Claims Scheme (FCS) with a safety net of up to $250,000 for each account holder. Money stored with Paytron is not covered under the FCS.

Send invoices and quotes

Paytron doesn't provide any invoicing or quoting functionality which leaves you with no option but to pay for another tool that does. Thriday has a feature rich invoicing solution that allows you to send immediate, scheduled and recurring invoices. Once your invoice is paid, Thriday automatically reconciles the income and calculates your real-time tax position.

Make BPAY payments

BPAY is Australia’s most trusted way of paying bills. Thriday allows you to make BPAY payment with a daily limit of up to $10,000. Paytron is not part of the BPAY network.

ATM withdrawals

Paytron does not issue physical cards, so if you need to withdraw cash, or deposit cash via Bank@Post, there is no option. This makes it difficult if you are a tradie or retail business that gets paid in cash. Thriday Visa Debit cards can be added to Google or Apple Pay, and they can also be used to withdraw cash from ATMs.

Lodge BAS and tax

At the end of the quarter or financial year, when it comes time to sort out your tax, Paytron does not provide any services to help. Tax time when Thriday really comes to the fore. With Thriday all your bookkeeping, accounting and taxes are sorted, and you can lodge your files directly to the ATO. You can even take advantage of friendly tax experts to review your lodgment. It’s tax time in no time.

Expert tax agents

Paytron is just another payments service, so when it comes to sorting out your taxes, you are really left out on your own. If you have any questions you want to ask, you might as well jump on Google. With Thriday, you can tap into our team of tax experts, and get the support you need to lodge your tax correctly.

Open banking access

Because Paytron is not a bank, they are not part of the Consumer Data Right (CDR) or Open Banking framework. This means it’s difficult to pull your data out of Paytron and into third-party platforms in a secure way. Thriday data is available as Thriday is a Data Holder, meaning you can securely access your data in the apps you need.

Call centre support

Paytron provides live chat and the option to chat to a sales consultant. Thriday on the other hand gives you the option to speak to someone from 9 am to 5 pm every weekday. Being able to speak to someone on your terms is important when running a business.

1800-THRIDAY

Enjoy these great Thriday features

Thriday is completely cloud based and available on web and app

Modern, fast and AI-driven platform that has no legacy systems

Works out of the box with no training or third-party support required

Combines banking, bookkeeping, accounting and tax in one platform

Saves hours each week as no manual intervention required

No bank feeds or manual expense tracking

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Why Thriday?

Managing your financial admin can be a real drain on your time and job satisfaction but there is a better way. Thriday is a new solution for a centuries old problem – managing your banking, accounting and tax. Thriday uses artificial intelligence to instantly interpret your transactions and apply them to a chart of accounts. This means as money hits your account, all your books are processed without lifting a finger. Thriday takes care of all your financial admin for only $29.95 a month. Say goodbye to time wasted, and say hello to Thriday.

Keep your funds safe in a FCS-backed transaction account