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Accounting & Finance · head to head

Bench vs Melio

Bench logo

Bench

Accounting & Finance

America's largest bookkeeping service for small businesses

From
$299/month
Rated
-
Full reviewWebsite
Melio logo

Melio

Accounting & Finance

Simple business payments

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Melio has a free tier, so it costs nothing to try first.
  • Each has a real cost: Bench recent bankruptcy and acquisition by Employer.com creates uncertainty about product roadmap and support continuity; Melio go (free) plan limited to one user only
  • They diverge on capability: Bench covers Dedicated bookkeeper, Melio covers Vendor payments.

Where they differ

Only the attributes on which Bench and Melio actually diverge.

Attributes where Bench and Melio differ
AttributeBenchMelio
Starting price$299/monthFree
Pricing modelUnknownfreemium
Free tierNoYes
PlatformsWeb, Ios, AndroidWeb, Mobile app
Founded20122018

Identical on both: user rating (Not yet rated), category (Accounting & Finance).

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 Bench

  • Dedicated bookkeeper
  • Monthly financial statements
  • Bank reconciliation
  • Tax preparation
  • Expense categorization
  • Stripe
  • PayPal
  • Square

Only in Melio

  • Vendor payments
  • Card to check
  • Payment scheduling
  • Approval workflows
  • QuickBooks sync
  • QuickBooks
  • Xero
  • FreshBooks

Both cover

  • SOC 2
  • Bank-level encryption
  • Web support
  • Ios support
  • Android support

What people use each for

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

Bench

  • Bookkeeping outsourcingnot Melio
  • Tax preparationnot Melio
  • Financial reportingnot Melio

Melio

  • Accounts payable automationnot Bench
  • Bill management and payment schedulingnot Bench
  • Multi-vendor payment processingnot Bench
  • Invoice receivables and payment collectionnot Bench

Where each one falls short

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

Bench

  • Recent bankruptcy and acquisition by Employer.com creates uncertainty about product roadmap and support continuity
  • Higher starting cost at $299/month compared to self-service accounting software like Wave or QuickBooks Online
  • Requires manual connection of financial accounts and ongoing coordination with bookkeeping team, less automated than software-first solutions
  • Tax services limited to US income tax returns; no support for complex entity structures or multi-state taxation
  • History of burning through capital rapidly, raising concerns about long-term business sustainability

Melio

  • Go (free) plan limited to one user only
  • ACH charges £0.50 per transaction beyond monthly allowance (5-50 free depending on plan)
  • Card payment fees range from 2.9% to 2.9% plus £75 maximum
  • International payments limited to select currencies only
  • NetSuite integration only available in Unlimited plan (£80/month minimum)

Pricing, plan by plan

Bench

$299/month

No published plan breakdown. See the Bench review.

Melio

Free

No published plan breakdown. See the Melio review.

Which should you pick?

Choose Bench if

  • You need dedicated bookkeeper.
  • You work on Web, Ios, Android.
  • You also want monthly financial statements.
Bench review

Choose Melio if

  • You need vendor payments.
  • You want to start without paying.
  • You work on Web, Mobile app.
  • You also want card to check.
Melio review

Questions people ask

Is Bench or Melio better?
Neither clearly leads. Bench starts at $299/month and Melio at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Bench or Melio?
Melio has a free tier; the other does not. Paid plans start at $299/month for Bench and Free for Melio.
Does Bench or Melio run on more platforms?
Bench runs on Web, Ios, Android. Melio runs on Web, Mobile app.
Can I use Melio for free?
Yes. Melio has a free tier, so you can try it without paying. Bench starts at $299/month.
What is Bench best used for?
Bench is most often used for bookkeeping outsourcing, tax preparation, financial reporting. Of those, bookkeeping outsourcing and tax preparation are not what Melio is typically brought in for.
What can Bench do that Melio cannot?
Bench covers Dedicated bookkeeper, Monthly financial statements, Bank reconciliation, Tax preparation. Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Both handle SOC 2, Bank-level encryption, Web support, Ios support.

Answered from the vendors’ own pages

Bench: What happened to Bench Accounting?

Bench shut down abruptly on December 27, 2024, filing for bankruptcy in Canada with $65 million in debt. The company was acquired by Employer.com on December 30, 2024, and resumed operations in January 2025 under new ownership.

Source
Bench: What are Bench's current pricing plans?

Bench offers Bookkeeping at $299/month (billed annually) and Bookkeeping + Tax at $599/month (billed annually). Both include automated bookkeeping, real-time financial statements, and a dedicated team of bookkeepers.

Source
Bench: Does Bench include tax preparation services?

The Bookkeeping plan includes monthly bookkeeping and year-end tax-ready financial statements. The Bookkeeping + Tax plan adds one-on-one income tax consulting and annual income tax return filing.

Source
Bench: How does Bench's bookkeeping work?

Bench combines proprietary software with human bookkeepers. You connect your financial accounts to automate data entry, and Bench's team handles bookkeeping and provides year-end tax-ready statements. Customers can reach their dedicated team within 24 hours.

Source
Bench: Can I access real-time financial data with Bench?

Yes, Bench provides real-time reporting, allowing you to access or download updated income statements and balance sheets at any time.

Source
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