Softwr

Accounting · head to head

Empower vs Melio

Empower logo

Empower

Accounting

All your finances. One app.

From
On request
Rated
-
Full reviewWebsite
Melio logo

Melio

Accounting

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 specific advisory fees not published; Form ADV consultation required; Melio card payments incur flat 2.9% fee on all plans
  • They diverge on capability: Empower covers Net worth tracking, Melio covers Vendor payments.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Empower and Melio actually diverge.

Attributes where Empower and Melio differ
AttributeEmpowerMelio
Starting priceOn requestFree
Pricing modelquotefreemium
Free tierNoYes
PlatformsWeb, Ios, AndroidWeb, Mobile app
Founded20092018

Identical on both: 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 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

  • Specific advisory fees not published; Form ADV consultation required
  • High minimum investment thresholds ($100,000 for Personal Strategy)
  • Detailed fee structure available only in Form ADV documents

Melio

  • Card payments incur flat 2.9% fee on all plans
  • International payments charged $20 flat fee or 2.9% conversion rate plus international fees
  • Paper checks cost $1.50 per check
  • Wire transfers cost $10 standard or up to 1% plus $10 for same-day processing
  • Core and Boost plans charged $10/month per additional user beyond base

Pricing, plan by plan

Empower

On request

No published plan breakdown. See the Empower review.

Melio

Free
  • GoFree
    • 5 free ACH payments per month
    • Pay by card, wire, or check
    • Basic invoicing
  • Core$25/month
    • 20 free ACH payments per month
    • $20/month with annual billing
    • QuickBooks Online and Xero sync
  • Boost$55/month
    • 50 free ACH payments per month
    • $44/month with annual billing
    • QuickBooks Desktop sync
  • Unlimited$80/month
    • Unlimited free ACH payments
    • $64/month with annual billing
    • NetSuite sync

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 On request 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 On request 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 On request.
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.

Answered from the vendors’ own pages

Empower: Does Empower have a minimum investment requirement?

Empower's advisory services require different minimums based on service level. Personal Strategy advisory requires a minimum of $100,000 in investable assets. Private Client services require $1,000,000 or more.

Source
Melio: What does Melio charge for ACH payments?

Melio's free Go tier includes 5 free ACH payments per month. Core tier provides 20 free ACH payments per month at $25/month. Boost offers 50 free ACH payments at $55/month. Unlimited tier at $80/month includes unlimited free ACH payments.

Source
Empower: How are Empower's advisory fees calculated?

Advisory fees are calculated based on the amount of assets being managed under advice. Specific fee rates are not disclosed on the homepage.

Source
Melio: Does Melio charge fees for card payments?

Yes, Melio charges a flat 2.9% fee on all card payments. International card payments also include currency conversion charges and international fees beyond the base 2.9%.

Source
Empower: Is the high-yield cash account free?

Yes. Empower's high-yield cash account has no account fees and no minimum balance required.

Source
Melio: Can I use Melio for free?

Yes, Melio's free Go tier allows 5 free ACH payments per month with no subscription cost. Users can pay by card, wire, or check and access basic invoicing and payment link features.

Source
Empower: Are there fees for stock and ETF trading?

Empower offers commission-free trading for stocks and ETFs with low fees.

Source
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