The Problem With Plastiq That Melio Solves
When I started using Plastiq, it had everything my firm needed. It allowed me to pay clients and vendors with credit cards even when they only accepted bank transfers or checks.
However as my firm grew, the limitations and inefficiencies of the platform started to become apparent.
Let’s break down the specific challenges I faced with Plastiq and how Melio solved those challenges.
?? High Transaction Fees With Plastiq
?? High Transaction Fees With Plastiq
As my business scaled, so did my transaction volume. While Plastiq’s ability to pay vendors using a credit card was convenient, the fees started adding up.
Plastiq charges 2.85% per transaction, which might not sound like much, but when you’re handling payments in the thousands, it really impacts your bottom line.
Imagine paying a $10,000 bill and having to shell out $285 in fees every single time. For a business like mine, where tight cash flow management is critical, these fees were starting to eat into our profits.
?? Zero Monthly Fees With Melio
One of the most significant advantages of MelioPayments over Plastiq is its zero monthly fees. With Plastiq, I found myself constantly calculating whether or not the platform’s convenience was worth the cost.
Melio, on the other hand, offered full access to its features without charging me a penny for a subscription.
I could focus on my payments and cash flow without worrying about a recurring fee that added to my business expenses.
?? Limited Payment Flexibility With Plastiq
Plastiq offers the ability to pay vendors by credit card, debit card, or bank transfer. However as we expanded our client base, we encountered vendors who had stricter payment method requirements.
Some only accepted ACH transfers, while others requested checks. Unfortunately, Plastiq’s system for handling checks wasn’t as seamless as we needed it to be. Payments were delayed, and checks would sometimes arrive much later than expected.
The worst part? There were no free ACH transfers. While Plastiq provided the option, it was far from cost-effective.
?? Flexible Payment Methods With Melio
Another key benefit was Melio’s flexibility in payment methods. With Melio, I could pay vendors via ACH transfer, credit card, or check — all without incurring additional fees for ACH payments . I even had the option to pay vendors via bank transfer while using my credit card, allowing me to hold on to cash longer while earning credit card rewards.
Melio also handles the entire check payment process for free. They send out checks on my behalf, which has been a game-changer. The checks arrive on time, every time, and I no longer have to worry about mailing them out myself.
?? Clunky Interface Problem With Plastiq
Navigating the Plastiq platform was another challenge. Their user interface, while functional, lacked the simplicity and intuitiveness I was looking for. Many times, it took my team longer than it should have to complete simple tasks like scheduling payments or reviewing past transactions.
When I’m running a business, I need a platform that works efficiently, without unnecessary complications. Plastiq’s interface felt outdated and overly complex, which slowed down our workflow.
?? Intuitive Interface With Melio
From the very first time I used MelioPayments, I noticed a significant difference in the platform’s user experience. Melio’s interface is clean, modern, and intuitive. Everything from scheduling payments to setting up automatic reminders was simple and straightforward.
Tasks that used to take minutes on Plastiq were now taking seconds on Melio. The dashboard was well-organized, allowing me to easily see upcoming payments, past transactions, and cash flow at a glance. This ease of use saved me and my team valuable time, which we could now dedicate to more important aspects of the business.
?? Customer Support Delays Problem With Plastiq
As we encountered more issues, I found myself needing to contact Plastiq’s customer support.
Unfortunately, their customer support team was slow to respond, sometimes taking days to address my concerns. This was incredibly frustrating, especially when payment issues arose that needed immediate resolution.
For a business as dynamic as mine, delays in resolving payment issues can mean strained relationships with clients and vendors. This lack of timely support was a major pain point.
?? Customer Support By Melio as Compared To Plastiq
Another huge improvement with Melio was customer support. Whenever I had a question or ran into an issue, the Melio team responded quickly, often resolving the issue on the same day. This was a welcome change from the delays I had experienced with Plastiq’s support team.
Whether I was dealing with a payment issue or had a technical question, Melio’s customer support was always there to help, providing me with peace of mind that my payments were in good hands.
Switching to MelioPayments Is The Best Decision I Have Made
The point isn’t to prove Plastiq is non-considerable since Plastiq as a payment system is used by many trusted businesses.
And it is reliable also.
But as you know, there is always the possibility of having a new option that is way better than the previous one or simply their offer is more lucrative.
So, does MelioPayments.
Melio has many more interesting features to offer its customers. So, why not give it a try? So, if you like to explore better options than Plastiq, then Melio as a payment system for your firm can be the best option.
After facing numerous problems with Plastiq, I was more than ready to explore other options.
At first, I was hesitant — changing payment systems can be disruptive, and I didn’t want to go through the hassle unless it was truly worth it.
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But there wasn’t any hassle at all. Transitioning from Plastiq to MelioPayments was smooth, without impacting any single transaction.
So, don’t worry about it. It’s free.
Go give it a try. You’ll love it.
What are the Key Differences Between MelioPayments and Plastiq?
Now that I’ve walked you through my experience, let’s break down the key differences between the two platforms, Melio Vs Plastiq, to give you a clearer picture of why MelioPayments was the right choice for my firm.
???? Ease of Use
FeatureMelioPaymentsPlastiqInterfaceClean, modern, intuitiveFunctional but outdated and clunkyLearning CurveVery lowModerateTime to Complete TasksFaster than PlastiqSlower due to complex workflows
MelioPayments clearly wins in terms of ease of use. Its user-friendly interface is designed with efficiency in mind, making it the better choice for busy professionals who need to complete tasks quickly and easily.
???? Fee Structure
Fee TypeMelioPaymentsPlastiqMonthly Fee$0$0 (Free Plan) / $59 (Advanced Plan)ACH TransferFree$5 (Domestic)Credit Card2.9%2.85%International Payments$20 per wire transfer$39 per wire transfer
MelioPayments comes out ahead in terms of pricing , especially when it comes to ACH transfers and international payments. While Plastiq may offer slightly lower credit card fees, the overall cost-effectiveness of MelioPayments makes it the better option for businesses that need a variety of payment methods without the high fees.
???? Payment Flexibility
One of the standout differences between MelioPayments and Plastiq is the flexibility in payment options. In my firm, I often need to handle a variety of payment methods, from paying vendors via check to managing client transactions with ACH transfers. Here’s how the two platforms compare:
FeatureMelioPaymentsPlastiqPayment MethodsCredit Card, ACH, Check, Bank TransferCredit Card, ACH, Bank TransferPayment to VendorsFree check mailing, free ACH transfersACH transfers available, but checks incur feesScheduling PaymentsYes, automatic recurring payment scheduling availableYes, but with limited flexibility
With MelioPayments, I can easily schedule recurring payments and set reminders. More importantly, free check payments and ACH transfers make a significant difference in my business’s financial management.
Plastiq charges fees for many of these services, while MelioPayments offers them without the extra costs, which was a game-changer for my firm’s cash flow management.
???? International Payments
For businesses dealing with international clients or vendors, having a reliable and cost-effective way to send payments globally is essential. My firm occasionally handles international transactions, and this was another area where MelioPayments outshined Plastiq.
FeatureMelioPaymentsPlastiqInternational WiresYes, $20 per wire transferYes, $39 per wire transferPayment MethodsACH, credit card, and bank transfersACH, credit card, and bank transfers
MelioPayments charges a flat $20 fee per international wire transfer, while Plastiq charges $39 per wire, nearly double. Over time, these differences in fees can add up, especially for a growing firm like mine.
Additionally, MelioPayments handles international payments more smoothly and without the occasional delays I experienced with Plastiq.
???? Customer Service
Lastly, customer service is another key factor in deciding between payment platforms. While using Plastiq, I often experienced delays in support response times, which, for a time-sensitive industry like accounting, was frustrating.
On the other hand, MelioPayments provided a much better experience in terms of responsiveness and efficiency.
FeatureMelioPaymentsPlastiqCustomer SupportQuick response times, helpful teams lower response times, often take days help ResourcesComprehensive, easy-to-follow guidesAdequate, but not as intuitive
Whenever I had an issue with MelioPayments, their support team responded quickly and resolved my concerns, often on the same day.
This level of support gave me confidence in the platform, knowing that if any issues arose, they would be handled promptly.
With Plastiq, delays in customer support frequently disrupted my workflow, and I often had to wait longer than necessary for resolutions.
Conclusion
Switching to MelioPayments from Plastiq was one of the best decisions I’ve made for my firm. Melio solved several key pain points I experienced with Plastiq, such as high transaction fees, limited payment flexibility, and slow customer support.
With MelioPayments, I’ve been able to streamline my payment processes, reduce costs, and focus more on serving my clients rather than worrying about operational inefficiencies.
Here are the main takeaways that made MelioPayments the right choice for my firm:
If you’re running your firm and struggling with high fees or clunky interfaces on other payment platforms like Plastiq, I highly recommend giving MelioPayments a try.