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Software · head to head

Melio vs Empower

Melio logo

Melio

Software

Simple business payments

From
Free
Rated
-
Full reviewWebsite
Empower logo

Empower

Software

All your finances. One app.

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Only Melio has a free tier, so it costs nothing to try first.
  • Each has a real cost: Melio go (free) plan limited to one user only; 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.
  • They diverge on capability: Melio covers Vendor payments, Empower covers Net worth tracking.

Where they differ

Only the attributes on which Melio and Empower actually diverge.

Attributes where Melio and Empower differ
AttributeMelioEmpower
Starting priceFree$29/month
Free tierYesNo
PlatformsWeb, Mobile appWeb, Ios, Android
Founded20182009

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 Melio

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

Only in Empower

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

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.

Melio

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

Empower

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

Where each one falls short

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

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)

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.

Pricing, plan by plan

Melio

Free

No published plan breakdown. See the Melio review.

Empower

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

Which should you pick?

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

Choose Empower if

  • You need net worth tracking.
  • You work on Web, Ios, Android.
  • You also want investment tracking.
Empower review

Questions people ask

Is Melio or Empower better?
Neither clearly leads. Melio starts at Free and Empower at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Melio or Empower?
Melio has a free tier; the other does not. Paid plans start at Free for Melio and $29/month for Empower.
Does Melio or Empower run on more platforms?
Melio runs on Web, Mobile app. Empower runs on Web, Ios, Android.
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 Melio best used for?
Melio is most often used for accounts payable automation, bill management and payment scheduling, multi-vendor payment processing, invoice receivables and payment collection. Of those, accounts payable automation and bill management and payment scheduling are not what Empower is typically brought in for.
What can Melio do that Empower cannot?
Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Empower covers Net worth tracking, Investment tracking, Retirement planner, Cash flow. Both handle SOC 2, Bank-level encryption, Web support, Ios support.
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