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Software · head to head

Empower vs Melio

Empower logo

Empower

Software

All your finances. One app.

From
$29/month
Rated
-
Full reviewWebsite
Melio logo

Melio

Software

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: Empower empower's managed advisory tiers require a minimum of $100,000 in investable assets for Personal Strategy and $1,000,000 for Private Client, with exact advisory fee percentages deferred to the Form ADV filing rather than published on the site.; Melio go (free) plan limited to one user only
  • They diverge on capability: Empower covers Net worth tracking, Melio covers Vendor payments.

Where they differ

Only the attributes on which Empower and Melio actually diverge.

Attributes where Empower and Melio differ
AttributeEmpowerMelio
Starting price$29/monthFree
Free tierNoYes
PlatformsWeb, Ios, AndroidWeb, Mobile app
Founded20092018

Identical on both: pricing model (freemium), user rating (Not yet rated), category (Unknown).

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 Empower

  • Net worth tracking
  • Investment tracking
  • Retirement planner
  • Cash flow
  • 401k fee analyzer
  • Bank connections
  • Brokerage accounts

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.

Empower

  • Wealth trackingnot Melio
  • Retirement planningnot Melio
  • Investment analysisnot Melio

Melio

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

Where each one falls short

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

Empower

  • Empower's managed advisory tiers require a minimum of $100,000 in investable assets for Personal Strategy and $1,000,000 for Private Client, with exact advisory fee percentages deferred to the Form ADV filing rather than published on the site.

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

Empower

$29/month
  • Free ToolsFree
    • Net worth tracking
    • Cash flow
    • Investment checkup
  • Wealth ManagementFree
    • 0.89% AUM fee
    • Dedicated advisor
    • Tax optimization

Melio

Free

No published plan breakdown. See the Melio review.

Which should you pick?

Choose Empower if

  • You need net worth tracking.
  • You work on Web, Ios, Android.
  • You also want investment tracking.
Empower 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 Empower or Melio better?
Neither clearly leads. Empower starts at $29/month and Melio at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Empower or Melio?
Melio has a free tier; the other does not. Paid plans start at $29/month for Empower and Free for Melio.
Does Empower or Melio run on more platforms?
Empower 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. Empower starts at $29/month.
What is Empower best used for?
Empower is most often used for wealth tracking, retirement planning, investment analysis. Of those, wealth tracking and retirement planning are not what Melio is typically brought in for.
What can Empower do that Melio cannot?
Empower covers Net worth tracking, Investment tracking, Retirement planner, Cash flow. Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Both handle SOC 2, Bank-level encryption, Web support, Ios support.
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