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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

Melio is an online financial technology company that helps small businesses to send and receive payments online. Through Melio, small businesses can send payments to their sales persons, suppliers, employees, and contractors. They can also settle their relevant utility bill such as water, electricity, Internet, and telecommunication service through ACH (Automated Clearing House) bank transfers. Additionally, Melio accepts credit card and debit card payments at a fee of 2.9%.

The company is registered as Melio Payments INC., and its headquarters are located at 205 Hudson Street in New York. Since its inception in 2018 by Matan Bar, Melio's current CEO, small businesses in the United States have enjoyed free and convenient online payments and receipts through ACH bank transfers and low-interest payments through debit and credit cards. Currently, Melio has launched international payment, where it serves over 70 countries on the globe.

Since Melio accepts B2B payments in real-time via bank transfers, debit, and credit cards, its operations have expanded over the last two years, which allows the company to open branches in various countries globally.

Even if the business receiving payments does not allow the above modes of payment, Melio receives the business payments and transfers them to the recipients in their preferred payment modes, which is convenient and helps both businesses to save time.

As a result, the Melio payment service is a great solution for small firms that frequently face issues like delayed payments and hefty fees when sending money. With Melio, payments are free for local transactions and reflect within 5-7 business days after receiving your invoice.

Pros and cons

Picking a suitable mode of payment for your merchandise and services offered to your business requires you to review many factors. For example, you need to understand how long it will take you to get your money and whether there are any deductions or charges on the amount sent.

If you are making aninternational payment or receiving money from across the border, it is essential to confirm from the nearest office if the platform you choose is accessible to your country and your clients.

Here are some advantages and disadvantages of Melio.


  • Melio allows small businesses use instant direct deposit when paying and making payments without signing up first.

  • Melio allows businesses to make multiple payments simultaneously, hence saving time.

  • Melio permits businesses to send and receive money in currencies other than dollars, enabling them to expand their market.

  • The company enables access to the its accounting software and syncs payments and receipts with QuickBooks online and FreshBooks automatically. This simplifies bookkeeping, accountability, and taxation.

  • Melio facilitates businesses to pay bills from different devices, such as tablets and mobile phones, which makes it convenient and easy to manage, even away from the office.

  • Melio allows small business owners to open an account and make it available to their team for convenience, while also saving money and improving approval workflows.

  • Melio allows for partial business payments, which small businesses can manage.

  • Melio makes payments to vendors who only accept checks easy.

  • Melio enables the company to schedule payments in order for your business to pay bills on time and run smoothly without interruption.


  • Melio has a complex user interface for first-time users.

  • Melio has a longer response to customers due to a large number of clients they serve.

  • Melio has a complex infrastructure that does not support Defi payments even though most businesses use decentralized finance as a form of payment.

  • Melio has prohibitively expensive fees for an international paymen.

  • Melio is only available in about 70 countries globally, making it unsuitable for the rest of the countries where it is not available.

Terms of service

Melio offers businesses that opt to use their platform for making and receiving payments an agreement that will guide their collaboration. Any entrepreneur hoping to make and receive payments via Melio should read and agree to their terms of service before using the platform.

Users can create an account after agreeing to their conditions and creating login credentials from the business details and a strong password. The information is then verified by the company before the account is activated. Then they can make free ACH bank payments for local transactions, but if a business pays its vendors and contractors with debit or credit cards, a 2.9% fee applies.

Payment methods

For the convenience of transaction processing, businesses should state the following when making payments:

  • The name of the payment recipient

  • The payment method

  • The amount to pay

  • The invoice number.

Melio accepts payments via direct bank transfer (ACH), credit cards, and debit cards. Next, the payment method you link to your account is verified by Melio, and by signing an agreement, you allow Melio to make payments on your behalf. Additionally, depending on urgency, some payments are effected immediately, while others are processed at a future date.

When you submit an invoice for payment, Melio assumes that you agree to and are satisfied by the goods or services offered by the vendor. The payments are subsequently processed as indicated and reflected in the recipient's account within three business days or as specified on the process date. However, credit card payments take about five-seven days to reflect in the recipient's bank account.

During payment processing, transactions made by ACH bank transfers are free for businesses in the United States. However, credit and debit card payments incur a 2.9% interest fee. Aside from processing and landing fees, foreign payments incur additional charges deducted from your bank account. Furthermore, an international payment can take up to 45 days to appear in a vendor's account, whereas domestic transactions can take up to seven days.


What is Melio?

Melio is a fintech company that helps small businesses to stay in business by offering B2B payment service on their behalf.  

Who Owns Melio?

Melio is owned by Matan Bar, Ilan Atias, and Ziv Paz.

How do you qualify for Melio?

To use the Melio service, a business should open an account by filling out a registration form with the required details. You should also read their agreement and sign it electronically, after which you allow the company to verify your details and link to your bank. Once verified, you can send an invoice to the company to make your first payment and settle bills on your behalf.

Is Melio Payments a legitimate company?

Yes. Melio is a legitimate payment company. It offers free B2B payment services and is registered as Melio INC. It was filed in 2018 and registered in 2020 by Attorney Rebeccah Gan in New York City.

Company documents

Privacy Policy

Simplify invoice payments. Amplify cash flow.

© Melio

What to focus on before applying for a loan with Melio

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Melio and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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