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Personal Finance · head to head

Fidelity vs Melio

Fidelity logo

Fidelity

Personal Finance

Building a better financial future

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: Fidelity options trades carry a 0.65 USD per contract fee on top of zero commission; Melio card payments incur flat 2.9% fee on all plans
  • They diverge on capability: Fidelity covers Commission-free trading, Melio covers Vendor payments.

Where they differ

Only the attributes on which Fidelity and Melio actually diverge.

Attributes where Fidelity and Melio differ
AttributeFidelityMelio
Starting priceOn requestFree
Pricing modeltransactionfreemium
Free tierNoYes
PlatformsWeb, IOS, AndroidWeb, Mobile app
CategoryPersonal FinanceAccounting
Founded19462018

Identical on both: 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 Fidelity

  • Commission-free trading
  • Retirement planning
  • Advisory services
  • Research tools
  • Bank accounts
  • Investment accounts
  • IOS support

Only in Melio

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

Both cover

  • Web support
  • Android support

What people use each for

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

Fidelity

  • Commission free trading of US stocks and ETFsnot Melio
  • Holding IRAs, 401(k) plans and taxable brokerage accountsnot Melio
  • Trading bonds, options and mutual funds from one accountnot Melio

Melio

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

Where each one falls short

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

Fidelity

  • Options trades carry a 0.65 USD per contract fee on top of zero commission
  • Non Fidelity mutual funds carry a 49.95 USD transaction fee per purchase
  • Secondary market bonds cost 1.00 USD per bond, while new issues are free
  • A foreign settlement fee of 50 USD applies per trade
  • Margin rates are tiered by debit balance, from 11.825 percent below 25,000 USD down to 7.50 percent at 1 million USD or more, against a base rate of 10.575 percent effective 12 December 2025
  • Margin liquidation by the broker costs 32.95 USD per liquidation

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

Fidelity

On request
  • Brokerage$undefined/month
    • Commission-free trading
    • Research tools
  • Advisory$undefined/month
    • Personal advisor
    • Wealth management

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 Fidelity if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Fidelity 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 Fidelity or Melio better?
Neither clearly leads. Fidelity 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, Fidelity or Melio?
Melio has a free tier; the other does not. Paid plans start at On request for Fidelity and Free for Melio.
Does Fidelity or Melio run on more platforms?
Fidelity 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. Fidelity starts at On request.
What is Fidelity best used for?
Fidelity is most often used for commission free trading of us stocks and etfs, holding iras, 401(k) plans and taxable brokerage accounts, trading bonds, options and mutual funds from one account. Of those, commission free trading of us stocks and etfs and holding iras, 401(k) plans and taxable brokerage accounts are not what Melio is typically brought in for.
What can Fidelity do that Melio cannot?
Fidelity covers Commission-free trading, Retirement planning, Advisory services, Research tools. Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Both handle Web support, Android support.

Answered from the vendors’ own pages

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
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
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
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