Airwallex vs Statrys: Accounts & Pricing Comparison

Founded in 2019, Statrys is a Hong Kong-based financial service provider offering financial and business-related products designed for SMEs. These include multi-currency business accounts, business payment cards, Hong Kong and Singapore company incorporation services, and competitive FX options.  

Statrys offers effective cross-border payment solutions and local payment options, making transactions in local currencies faster and more cost-effective. It also offers a mobile app for managing finances and a dedicated, personalised human support for every account holder. The company has offices in Hong Kong, Singapore, the UK, and Thailand.

Eligible countries: Hong Kong, Singapore, and the BVI.

• Eligible company type: Most business entity types, including but not limited to sole proprietorship, public limited company (PLC), limited liability company (LLC), and limited liability partnership (LLP).
• Licences: Statrys is licensed as a Money Service Operator in Hong Kong and a Small Payment Institution in the UK.
• Custodian bank: DBS Hong Kong.

Airwallex, founded in 2015, is a financial platform for modern businesses, providing services for businesses of all sizes, including virtual multi-currency wallet, business cards, and API integration to simplify global financial transactions. 

Airwallex currently has 23 international offices. It is supported by Tencent, a major multinational conglomerate. In 2024, the company entered a multi-year partnership with the McLaren Formula 1 team, where the fintech will support the team's financial operations.

• Eligible countries: 52 countries and regions, including Australia, New Zealand, Hong Kong, Singapore, the BVI, the UK, and the US.
• Eligible company type: As long as the account is used for business transactions, most business types, from sole traders to enterprises, are eligible. 
• Licences: Airwallex holds multiple financial services licences in the countries where it operates, including an Australian Financial Services licence in Australia, a Money Service Operator licence in Hong Kong, and an Electronic Money Institution licence in the UK. 
• Partner banks: DBS, JP Morgan, Standard Chartered, ANZ, and more.

Statrys operates as a multi-currency account, where all supported currencies are managed under a single account name. With support for 11 currencies in accounts and 14 for local payments, it’s ideal for businesses with focused currency needs. Statrys also offers real-time SWIFT tracking, providing transparency for international payments. However, its range of supported currencies is more limited compared to Airwallex.

In contrast, Airwallex combines local currency accounts with a multi-currency wallet. After approval, you create local accounts for receiving payments in different regions, while managing funds in the wallet. Airwallex supports over 20 currencies for accounts and 60 for local payments, making it better for businesses operating globally. It also provides API-driven FX tools to manage currency risks efficiently. However, it does not provide specific details on real-time SWIFT tracking, which might be important for businesses requiring detailed international payment visibility.

Both platforms can be used to manage international payments, but the choice depends on which better suits your needs.

*Account opening fee may apply for companies not registered in Hong Kong or Singapore, companies with complex shareholding structures, and companies with high-risk business profiles.

Statrys offers a clear advantage for businesses receiving local and international payments, as Airwallex charges 0.3% per transaction, which can add up with high volumes. For sending local payments, Airwallex provides free transfers, making it more cost-effective for domestic transactions, while Statrys charges between HKD 5 to 75. 

For international SWIFT transfers, Statrys has lower fees for both sending and receiving payments, while Airwallex charges HKD 120-200 for outgoing SWIFT transfers. Both platforms offer competitive FX rates, though Statrys has slightly lower conversion fees starting at 0.15%. 

Overall, Statrys is better for businesses that regularly handle both local and international payments, thanks to its lower fees for receiving and sending funds. On the other hand, Airwallex is ideal for businesses with global clients or suppliers, offering an extensive, free local transfer network that can help businesses reduce transaction costs.

Statrys is an excellent choice for businesses that require easy access to cash. It offers prepaid cards that allow for ATM withdrawals, but there is a 1.5% foreign exchange fee for international transactions.

On the other hand, Airwallex is more suitable for businesses dealing with multiple currencies and digital payments. It has no foreign exchange fees when using existing currency balances and supports Apple Pay and Google Pay. However, it doesn’t provide ATM access, and physical cards are only available in select countries.

Statrys offers personalised customer support with a dedicated account manager and multiple communication options, such as live chat, phone, WhatsApp, and WeChat, which may appeal to businesses seeking direct, hands-on assistance. Airwallex, on the other hand, provides support through chatbot, phone, and email but doesn't specify dedicated account manager services. However, Airwallex offers broader time zone coverage, which may suit businesses with international operations.

For a better understanding, it’s wise to check their Trustpilot reviews to see how customers feel about Statrys' and Airwallex's customer service.

In conclusion, Statrys is best suited for SMEs in Hong Kong, Singapore, and the British Virgin Islands (BVI) that value personalised customer support, real-time tracking of SWIFT payments, and the ability to manage both local and international transactions with lower fees.

Conversely, Airwallex is designed for global businesses that require a wider range of currencies, API-driven financial tools, and free local payouts. This makes it ideal for companies with complex cross-border operations.

Ultimately, the choice between the two depends on whether you prioritise dedicated support and cost-effective international payments (Statrys) or scalability and multi-currency flexibility (Airwallex).