Discussion about this post

User's avatar
John S's avatar

Really? Payers agree to pay 2.9% for each ACH transaction instead of $0.3-$0.6 per transaction which is the market price for ACH? For how long...?

Expand full comment
Barbara's avatar

I have been using Melio for the past couple months for a few businesses. Their payment speed is very slow if you do not agree to pay the $9 per ACH for one day payments. Currently, If you schedule an ACH payment to a vendor on a Friday, Melio takes the money out of your account on Monday and the earliest they deliver the funds to the vendor is the following Thursday. Part of the reason for using electronic payments is to reduce the payment time, but in Melio's case, I could mail a paper check as fast as their normal processing which has been frustrating. They also don't currently have a method to pay a partial invoice which they need to fix. I called and they said partial pay is coming soon.

Expand full comment
8 more comments...

No posts