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Managing business payments shouldn’t feel like the slowest part of your day. Whether you’re paying vendors or collecting from clients, the right tool can save you time, money, and a bunch of headaches.
Two big names in this space? Forwardly and Melio. Both are solid, but one of them might just make your finance team do a happy dance. Let’s break down Forwardly, as one of the best Melio alternatives.
How does Melio work?
Melio helps you send and receive payments. You can use bank transfers, pay by credit card, and even handle international transactions. It’s great for small businesses and freelancers who want to stay in control of their cash.
How does Forwardly work?
Forwardly, one of the best Melio alternatives in the U.S. market, is a complete B2B payment solution built for speed. You can send and receive money in 60 seconds or less, pay vendor bills instantly, and capture invoices with AI. It also allows to set up custom approval workflows, schedule payments to match due dates, and sync automatically with QuickBooks, Xero, and more. It’s fast, simple, and free for standard bank transfers and perfect for modern businesses that want to move money smarter.
Which platform delivers true instant payments: Forwardly or Melio?
Until December 2023, Forwardly stood alone as the exclusive real-time payment solution for small businesses in the U.S., offering instant payments from the start through the RTP network and FedNow Service.
The difference shows up in speed and availability. Forwardly delivers instant payments in under 60 seconds, 24/7/365, even on weekends and holidays.
For small businesses, waiting isn’t just inconvenient, it impacts financial health. Over a quarter of businesses say they struggle with accounts receivable tasks each month because of delayed payments. With Forwardly, you don’t wait. You get paid in seconds, anytime, anywhere, so your cash flow stays strong.
How do Forwardly’s fees compare to Melio’s?
Accounts payable
With Forwardly, sending payments is completely affordable with minimal costs whether you’re using instant payments that process in just 60 seconds or same-day ACH transfers, making bill payments fast and cost-effective.
For Melio, when paying bills using a bank account, there are a few options to consider. ACH bank transfers cost $0.50, and paper checks are $1.50. Need faster delivery? You can send a fast check for $20. For immediate payments, instant bank transfers come with a 1% fee, capped at $75, while same-day ACH transfers are also charged at 1%, with a cap of $75.
If you’re paying with a credit or debit card, the standard fee is 2.9% of the transaction. This applies to ACH transfers and checks, with fast checks costing an additional $20. For instant bank transfers, there’s an extra 1% fee (capped at $75). If you have a high credit line, you may be eligible for special rates, which could reduce these fees.
Accounts receivable
Forwardly stands out for its affordability, offering instant payments at just 1% of the transaction amount (with a minimum fee of $1 and a maximum of $10). It also goes the extra mile by providing free same-day ACH transfers for users whose banks don’t support instant payments.
When getting paid by credit card, fees are either free or 2.99%, depending on the transaction. Credit card fees can be applied to either the payer or payee, based on the payee’s business policy, giving flexibility depending on how you want to handle payment costs.
When receiving payments with Melio, there are a few free options to consider. Instant payments to a debit card or bank account come with a 1% fee capped at $75 ($45 more than Forwardly). Similarly, same-day ACH transfers also incur a 1% fee ($75 max). If you’re using a single-use virtual card, there’s no fee from the payment processor, it’s $0 to receive the payment, and you only pay your regular POS processing fees. And that’s another reason why businesses look for Melio alternatives.
For small businesses, every penny matters. With Forwardly, you could save up to 80% on processing fees, which might translate to up to $24,000 in savings. That’s a significant amount you can use for your business’s essential needs and growth. Forwardly ensures your money is spent wisely.
How does Forwardly’s customer support compare to Melio’s?
Forwardly’s support is ready to help, ensuring that your concerns are addressed promptly.
You can raise tickets at the Forwardly support center if any aspect of the solution poses a challenge.
On the other hand, Melio Payments provides priority support for Core users and premium support for Boost users. However, many customers have expressed dissatisfaction with the overall support experience, citing unresolved issues. As a result, Melio’s support is often seen as less dependable compared to Forwardly’s proactive approach.
Which integrations does Forwardly offer compared to Melio?
Both Forwardly and Melio check the box when it comes to QuickBooks Online integration. Bills, vendors, and payments sync easily. Where they differ is the day-to-day flow and the real-time sync and full automated reconciliation by Forwardly. In fact, Forwardly goes a step further with a unique 4-way sync with QuickBooks Online and Xero, and a direct 2-way sync with Zoho Books and FreshBooks, giving firms more flexibility across accounting platforms.
Is Forwardly an easier-to-use Melio alternative?
Forwardly is built for speed. Onboarding takes less than 10 minutes, and the platform is designed with both business owners and accountants in mind. It offers a dedicated accountant dashboard, multi-client management, approval workflows, and real-time visibility into every transaction. Bulk payments, invoice approvals, and payment scheduling are all streamlined, making life easier for firms and fractional CFOs working with multiple books.
Melio, while accountant-friendly, primarily caters to SMBs. It does offer accountant access, but the workflows aren’t as tailored or collaborative. It offers a sleek UI geared which easy to use, but the platform often nudges users to pay via credit card (even when ACH would do). It’s great if you want card points, but not ideal if you’re avoiding fees.
For accountants managing multiple clients, Forwardly’s multi-client access and real-time visibility gives it edge over Melio. Though Melio supports accountant access too, but it’s less workflow-focused.
Feature-by-feature comparison: Forwardly vs Melio
Why do businesses choose Forwardly as a Melio alternative?
While Melio gets some things right, especially for businesses just getting started, Forwardly is simply built for the pace and precision today’s businesses demand.
If you need:
- Instant, flexible payments that land in 60 seconds or less, with same-day, next-day, or standard speeds, even on weekends and holidays
- Faster vendor bill payments, with AI-scheduled due dates so you never miss a deadline
- A simple, firm-friendly dashboard where you can see cash flow, pending payments, and approvals in one clean view
- Lower processing costs, saving up to 80% compared to traditional platforms, with no monthly fees or user limits
- Seamless accounting sync, 4-way with QuickBooks Online, 2-way with Zoho Books and FreshBooks, so invoices, bills, and payment statuses update automatically
- Smart scheduling to pay exactly on due dates and avoid late fees, plus custom approval workflows, role permissions, and a complete audit trail
- Multi-client management from a single dashboard, with bulk approvals, cross-client cash flow views, and express onboarding for 5 to 5,000 clients
Then Forwardly is the smarter choice.
Melio may offer international payments and work well for one-off users with credit cards in hand, but Forwardly is a complete B2B payment solution which offers real-time payments, AP automation, and AR software in one. You can get paid faster, pay vendors instantly, and sync seamlessly with your accounting platform.
Try Forwardly today. Take the product tour.
