Melio vs Plastiq: I Stuck with One

Last Updated on April 5, 2025 by Ewen Finser

Payments has been the bane of my existence for as long as I’ve been online. Particularly working with a diverse set of international freelancers, developers, and consultants… it’s just a pain to figure out the best solutions.

Then, layer on accepting payments from vendors and partners, and I somehow have 8 different platforms for the specific edge cases that invariably arise.

So, I’m always willing to try something new, hoping it’s the solution to finally solve the payment goose chase.

Melio and Plastiq were not well known entities to me 3+ years ago, but over the last couple years they popped on my radar (probably after another PayPal funds freeze). Now, I’m having another look at these two again as I’ve learned a few things and tested them both out for other things in our growing businesses.

I gave both a shot, and after testing them out, I stuck with one. Which one? Well, here’s my experience and what I learned along the way.

Here’s my high level take on the key differences between Plastiq vs Melio:

• Financing: Plastiq offers a built-in financing option (similar to PayPal Working Capital), while Melio does not offer any sort of financing.
• ACH Transfer Fees: Melio offers completely free ACH transfers, whereas Plastiq charges a nominal $0.99 fee per ACH transaction.
• Users: Melio offers unlimited users with no pricing differences, whereas Plastiq only offers up to 3 users free before switching to a premium model ($59/month).
• Pricing Model: Melio and Plastiq both offer their services without a sign-up fee or subscription fee, but Plastiq has a $59 per month plan offering additional features, whereas Melio does not charge monthly fees for its full functionality.
• International Payment Support: Melio supports payments to 55 different countries and allows for International batch payments, whereas Plastiq supports around 50 countries but offers the option to send funds in multiple currencies, giving recipients more flexibility.

Melio vs. Plastiq: Which One Do I Prefer?

I would recommend you read the whole thing before going for one of these options, but let me spoil it for you just in case you are short on time: I liked Melio more. Its lower costs, streamlined user experience, and improved integrations made it the best choice for my business. However, if you need more integrations or frequently make international payments in multiple currencies, Plastiq might be the better fit.

Melio vs. Plastiq: The Basics

Both Melio and Plastiq help businesses manage vendor payments, but they go about it differently.

Melio keeps things simple and budget-friendly, offering affordable ACH transfers and easy integration with accounting tools. Plastiq, on the other hand, comes with extra features like built-in financing and broader integrations.

Both platforms let you pay vendors via ACH, wire, or credit card—even if they only accept checks. They also support international payments and have automation tools to make transactions smoother. However, their pricing structures and unique features set them apart.

Things I liked About Melio

Overall, I still use Melio every month for sending out client invoices for US based companies (ACH transfers). That’s saying something!

• Free ACH Transfers: For saving on fees, this is one of my favorite use cases right now for Melio.
• Easy to Use: The app and dashboard are easy to navigate. Less cluttered then PayPal (although less functionality too).
• Lower Fees: Melio really makes money on credit card processing and international payments, but is comparable or better than Plastiq (and many others) in the fee department.
• Now Supports International Payments: When I first started using Melio, they didn’t support international payments. They do now, but with a $20 flat fee. This means you’ll generally see the greatest benefit on large international transfers of $20,000+ (compared to peers).
• QuickBooks Integration: QuickBooks natively supports QuickBooks, so if you already are on QB, using Melio is a fairly simple extension and all of the data syncs nicely on both sides.

Things I Liked About Plastiq

All in all, I had a good experience with Plastiq. It’s nothing fancy, Some of the features that stood out to me were:

• Simple Sign Up Process: I was setup in about 10 minutes and ready to send payments to vendors.
• Built-in Short Term Financing: I haven’t actually used their service, but it’s nice to have a one-stop solution if we need. No need to send over statements or additional verification as you are already validated in their system. Reminds me a bit of PayPal Working Capital in this sense.
• Free to use: There are premium plans for additional features, but the core functionality is free.
• Integrations: Plastiq seems to integrate with more third-party platforms, Netsuite, Oracle, Sage Intacct and others.
• Next Day International Wire Transfers: This is a great feature depending on if you current bank has this or not. Also transfers (in general) were a bit faster than Melio (ACH and wires).
• Account Permissions: Plastiq functions similar to Mercury Bank with their extensible user roles and permissions. This isn’t something that Melio has yet. The first 3 users are free, then there’s a pricing plan for additional.

My Experience with Melio

I started using Melio in 2021 for simple ACH vendor payments and the signup process was very simple. Easier than PayPal, Stripe, and some other platforms I’ve used.

The interface is clean and straightforward, a marked difference from the “cluttered” feeling of PayPal, for example.

While Melio is gradually expanding their features, I primarily use Melio for sending vendor invoices for ACH transfers as my default option (PayPal) tends to take a considerable chunk in fees, regardless of transfer type.

My Experience with Plastiq

Plastiq is a great platform, but it just wasn’t the right fit for me.

Signing up was quick (it took about 10 minutes), and I really liked some of its features, especially built-in financing. While I didn’t use it, I can see how it’d be useful for businesses that need occasional cash flow boosts.

Plastiq also offers a wider range of accounting integrations and slightly faster international payments compared to Melio. The thing is that I don’t need to make international payments and Melio’s free plan had everything I needed, so I didn’t see the value in upgrading.

Where Melio and Plastiq Are Similar

At their core, both platforms share some key similarities. They let you pay vendors who typically don’t accept credit cards, schedule payments, track transactions, and sync with accounting software for easier bookkeeping.

They also offer international payment options, so if you work with vendors abroad, you can send money across borders without a hassle.

Another big plus? They support multiple payment methods (bank transfers, credit cards, and wire transfers), which gives you more flexibility and control over cash flow.

Pricing: How They Stack Up

This is where things start to look different.

• Melio: Offers 5 to 20 free ACH transfers (depending on the plan you go for), which is great if you’re looking to avoid extra fees. Credit card payments come with a 2.9% fee, and international transfers have a flat $20 fee.
• Plastiq: Charges $0.99 per ACH transaction and 2.85% for credit card payments. There’s also a $59/month premium plan with extra features like increased user limits and more integrations. International payment fees vary based on the destination and payment method.

Key Differences (Beyond Pricing)

Besides cost, Melio and Plastiq have a few standout differences:

• Melio is simple to use and it has an app, which makes it more accessible.
• Plastiq has built-in financing, similar to PayPal Working Capital, which is helpful if your business occasionally needs short-term funding. Melio doesn’t offer this.
• Plastiq supports more accounting integrations, including Netsuite, Oracle, and Sage Intacct. Melio mainly integrates with QuickBooks and Xero, which is fine for many small businesses but might be limiting for others. 
• Plastiq handles international payments slightly faster (at least in my experience), so if you make frequent global transactions, that’s something to consider.

Melio vs Plastiq Integrations Compared

Both Melio and Plastiq don’t have a ton of native integrations, but they have added some useful ones.

Melio Integrations:

• QuickBooks
• Xero

Plastiq Integrations:

• QuickBooks
• Xero
• Sage Intacct
• Oracle Netsuite

Plastiq obviously stands out with their Sage and Oracle integrations, making it suitable for a larger enterprises, whereas Melio feels more squarely focused on freelancers and SMBs.

Why I Chose Melio (and Still Use It)

When it was time to choose one of these tools for my business, I just focused on two things: simplicity and cost.

I use Melio primarily for invoices and vendor payments via ACH, and the fact that ACH transfers are just $0.50 is a huge plus. The platform is modern, clean, and super easy to use (way more intuitive than PayPal, in my opinion).

Another thing I love? Melio’s straightforward pricing. The only fees come from credit card payments and international transfers, and even then, they’re reasonable. Their $20 flat fee for international transfers makes it cost-effective for big transactions ($20,000+). Plus, it syncs seamlessly with QuickBooks, which keeps my accounting on track.

If you’re looking for an easy, no-fee way to handle ACH payments, Melio is a solid choice.

Which One Should You Pick?

It really depends on what you need:

• Go with Melio if you want affordable ACH transfers and a simple platform (and app)
• Go with Plastiq if you need built-in financing, faster international payments.

At the end of the day, the best payment platform is the one that makes your life easier. I personally use Melio for its simplicity and cost savings, but if Plastiq’s features fit your business better, it’s definitely worth checking out.

No matter which one you choose, make sure it works for you, not the other way around!