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Accounting & Finance · head to head

Melio vs Wise Business

Melio logo

Melio

Accounting & Finance

Simple business payments

From
Free
Rated
-
Full reviewWebsite
Wise Business logo

Wise Business

Accounting & Finance

The smart way to send and receive business payments

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; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • They diverge on capability: Melio covers Vendor payments, Wise Business covers Multi-currency accounts.

Where they differ

Only the attributes on which Melio and Wise Business actually diverge.

Attributes where Melio and Wise Business differ
AttributeMelioWise Business
Starting priceFree$29/month
Pricing modelfreemiumusage-based
Free tierYesNo
PlatformsWeb, Mobile appWeb, Ios, Android, Api
Founded20182011

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 Melio

  • Vendor payments
  • Card to check
  • Payment scheduling
  • Approval workflows
  • QuickBooks sync
  • FreshBooks
  • SOC 2
  • Bank-level encryption

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Various
  • FCA regulated
  • Bank-level security

Both cover

  • QuickBooks
  • Xero
  • 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 Wise Business
  • Bill management and payment schedulingnot Wise Business
  • Multi-vendor payment processingnot Wise Business
  • Invoice receivables and payment collectionnot Wise Business

Wise Business

  • Holding and converting multiple currencies as a businessnot Melio
  • Paying international suppliers and contractors at the mid market ratenot Melio
  • Receiving payments into local currency account details in several countriesnot 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)

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

Pricing, plan by plan

Melio

Free

No published plan breakdown. See the Melio review.

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

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 Wise Business if

  • You need multi-currency accounts.
  • You work on Web, Ios, Android, Api.
  • You also want international transfers.
Wise Business review

Questions people ask

Is Melio or Wise Business better?
Neither clearly leads. Melio starts at Free and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Melio or Wise Business?
Melio has a free tier; the other does not. Paid plans start at Free for Melio and $29/month for Wise Business.
Does Melio or Wise Business run on more platforms?
Melio runs on Web, Mobile app. Wise Business runs on Web, Ios, Android, Api.
Can I use Melio for free?
Yes. Melio has a free tier, so you can try it without paying. Wise Business 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 Wise Business is typically brought in for.
What can Melio do that Wise Business cannot?
Melio covers Vendor payments, Card to check, Payment scheduling, Approval workflows. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access. Both handle QuickBooks, Xero, Web support, Ios support.
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