Melio Reviews

Do you have a small business needing help with your payments or invoices? Have you tried using an accounting software product? Dealing with bills has never been easy if you own a business or are an entrepreneur. That’s why today, I want to show you a great solution for all your payments and cash flow. Next, let’s learn about Melio payments and how you can use this fintech solution to manage all your payments.

Melio is a simple U.S.-based solution for you to pay your contractors or get paid. It works both ways and is a free customized pay page for receiving business payments digitally. So, instead of spending too much time accounting and using traditional checks, you can try Melio Payments and see how it works. Melios is designed to be a great solution for multiple case studies like:

Moreover, this is what you can do with Melio:

Melio is the simplest way to pay vendors and contractors. With Melio, you can transfer and receive payments faster and more efficiently than traditional methods like checks. It is a great service for small businesses and entrepreneurs if you don’t want to complicate your life with accounts or other complex tools. What I like about this service is that it is so easy to use and intuitive. In addition, you won’t have to spend all your business money on one complex service to pay vendors or contractors. Thus, if you need a U.S.-based accounts payable solution, Melio is the one you need to try.

Melio Payments

Melio was founded in 2018 in New York and is a fintech company. Their product is meant to help small businesses and entrepreneurs find a great solution to manage their payments, invoices, or bills. Besides this, with Melio, you’ll save time to focus on the customers and your business, but it will significantly improve your cash flow. But don’t go anywhere. So let’s find out what Melio is exactly and how you can use the product to keep your business in business.

How does Melio work?

Do you know what is great about this tool? You don’t have to watch thousands of tutorials to understand how it works. Or how you can get started. First, you must know that Melio is web-based, so as long as you have a laptop with an internet connection, you can start working with Melio. Secondly, currently, Melio only supports payments from one US business to another US business. However, no payments outside the US are supported, and only U.S.-based credit cards are accepted.

How to pay by credit card or bank transfer payments with Melio?

Regardless of your vendor’s payment methods, you can decide what’s most convenient. Then schedule when your payment will be deducted from your account. That way, you’ll always pay on time. From there, Melio will take care of sending the payment to your vendor on your behalf. They don’t even need to sign up to Melio, making the process fast and straightforward.

Is that simple! Not to mention that Melio is free; you will be charged only a transaction fee every time you receive or send money. In addition, Melio allows you to track your payments and make decisions based on real-time information by using your credit card to make your payments and improve your cash flow.

Details of Melio Features

The platform offers a lot of great features for each user. So, let’s dive into them and discover how many things you can automatize regarding payments.

Melio Payments Benefits

With Melio, you have several payment options. These include bank transfers (ACH), debit cards, and credit cards. Payments made via bank transfers are free, while credit card payments will have a 2.9% transaction fee. Moreover, you can use your credit card for vendors or stores that do not accept card payments. Vendors do not need to have a Melio account to receive your payment.

With this payment scheduling feature, you can avoid late payments and penalties. This is especially important when paying utilities, insurance, taxes, or rent/lease. You will also better manage your cash flow, ensuring that you don’t pay too early and that all your suppliers or vendors are happy when they receive their payments on time.

Melio enables your customers or clients to pay you by bank transfer or card at no cost. You sign up to get your payment link, which your customers will use to send payments without needing your bank details. Your customer pays using their bank or card. They do not need to have a Melio account to send their payment. Payments are deposited directly into your bank account in two business days without charges or fees.

Specially created with small businesses and freelancers in mind, Melio offers its accounts payable platform for free. No monthly subscription fees can take a significant chunk of your budget, and no delivery fees when you send vendor checks.

Melio Integrations detailed

And this is not all. Melio can still amaze you. First, the service can be integrated with some US banks and Quickbooks. Then, once you’ve connected Melio with QuickBooks, the platform will extract vendor information from QuickBooks. As a result, this will smooth your workflow, so you don’t have to enter vendor details. All you have to do is select one from a list or start typing and have vendors auto-completed. Then, once you’ve completed a bill payment in Melio, your QuickBooks account is updated with the payment details.

Melio Payments Review Conclusion

In conclusion of the Melio Payments review, I can say that it’s worth trying, especially since it is free. It’s a great fintech service for small businesses, freelancers, and accountants. The last ones can manage all clients from one platform and automatize their invoices or payments by integrating Melio with Quickbooks. Moreover, the tax forms are also handled by Melio. Thus, if you find it hard for you or your business to keep up with your payments, even if there are one-time or recurrent payments, Melio could be the easiest solution for you.