Melio vs. Wise: Which Payment Platform Is Best?

If you need a fast and effective way to send and receive business payments, it’s important to choose the right platform. Both Melio and Wise are popular options for making and receiving transactions, but they cater to different personal and business needs.

In this Wise vs Melio review, you’ll learn how they stack up against one another, and how to determine which is a better option for your business.

Melio vs Wise: Quick Overview

Here’s an at-a-glance payment platform comparison of Melio vs Wise, to give you an idea as to which of the two payment solutions might be a better fit for your business:

Melio vs Wise Detailed Feature Comparison

Now that you’ve seen a brief overview of the two services, let’s dive deeper into the Melio and Wise features so you can make an informed decision for your business.

Key Similarities and Differences

Melio and Wise both support domestic and international payments for businesses, meaning you can use either platform to send and receive payments.

You can also use both platforms with accounting software like QuickBooks and Xero as they both offer third-party app integrations allowing you to easily track your business revenue and expenses.

However, Melio is primarily designed for domestic payments within the U.S., whereas Wise is better suited for international payments.

With features such as free ACH bank transfers and check payments, Melio is great for businesses that pay suppliers and vendors within the U.S.

Wise, on the other hand, is a great fit for businesses that operate internationally. Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. You can hold, send, and receive money in different currencies while benefiting from mid-market exchange rates. Wise makes overseas transfers and multiple currency management seamless.

Payment Processing Options

One of the main Melio benefits is that it allows users to send free ACH bank transfers for domestic payments and supports an option to pay vendors via credit card with a small percentage fee. You can also use Melio to pay via check, with the first two checks per month being free.

You can make international payments with Melio, but you must make them in USD and pay a flat fee of $20 per transaction.

With Wise, there’s emphasis on low-cost international transfers. While you can make ACH bank transfers, wire transfers, and debit card payments domestically and internationally, you can’t pay vendors via credit card or checks.

However, you can hold and convert money in multiple currencies which is ideal if you need to manage transactions between different countries.

Costs and Fees

Melio is free to use for ACH bank transfers, so it can be a cost-effective solution if you only ever send secure payments within the US from your business. To pay via other means, though, you’ll have to pay transaction fees.

• Credit card payments - 2.9%
• Check payments - $1.50 (after first two free checks per month)
• Global transactions - $20 flat fee

Wise charges fees for transactions and currency exchanges. International transfer fees will depend on the currency and payment method you use, but there isn’t a flat fee as with Melio. You’ll always be able to see the fee upfront, and there are no hidden costs. Wise offers mid-market exchange rates, so you can save money on currency conversion fees.

Best Use Cases for Each Platform

Choosing between Melio and Wise for your business depends on your business size, specific needs, and what you’ll mostly use the platform for.

With that in mind, let’s run some business scenarios for both platforms, to give you a clear idea of which platform might better suit your business.

Melio

Melio is best suited to small and mid-sized businesses based in the U.S. which mostly deal with US based vendors, suppliers, and employees. It can be a useful platform for businesses who operate mostly on a domestic basis and are looking to streamline their business bill payments.

• US based business paying vendors via ACH or check - In this first scenario, it could be that you work with suppliers, freelancers, or service providers who are also based in the US With Melio in this instance, you can easily send ACH bank transfers for free or mail physical checks directly to your vendors even if they don’t use Melio.
• Business paying vendors via credit card - In this scenario, you might have vendors that don’t accept credit card payments, but with Melio, you can still pay them via credit card meaning you can rack up credit card rewards.
• Company that needs to track and schedule recurring payments - If you have a lot of recurring payments such as monthly invoices, rent, or supplier costs, you can use Melio’s scheduled and recurring payment options to stay organized with your business finances.

Wise

Wise is best suited to small businesses and individuals who are looking to expand globally or simply have to pay or receive money internationally. If you are concerned with the amount you pay on currency exchange fees and want to be able to hold and receive funds in various currencies, it’s an excellent option for your business.

• Business making international payments - If your company sources products or services from overseas, you can use Wise to pay in over 40+ currencies at the mid-market exchange rate.
• Freelancers receiving payments from international clients - With Wise, you can use local bank account details in major currencies to receive international payments as if you were a local.
• Managing a global team - Signing up to Wise Business allows access to BatchTransfer which you can use to pay multiple invoices in one go.

The Stress-Free Way to Manage International Transfers

If you’re looking for a versatile payment platform for your business that won’t eat into your bottom line, Wise Business could be your best choice.

Users of Wise Business can benefit from:

• No monthly fees
• International payments at the mid-market rate
• QuickBooks integration to track bill payments
• Managing multiple currencies all in one place
• Receiving payments like a local with major currency account details
• Holding over 40 currencies

Open a Wise Business account online

	Editor & Business Expert:
	Panna is an expert in US business finance, covering topics from invoicing to international expansion. She creates guides and reviews to help businesses save time and make informed decisions. You can read more useful business articles on her author profile.

	Author:
	Sam is a UK-based copywriter with 4+ years of experience writing for SaaS and eCommerce brands. He creates comparison guides, informative blog posts, and covers other finance-based topics.

Sources used :
¹ Melio
Sources last checked on 07-March- 2025.