You are exploring the opportunity to open an account with Airwallex. Or you have one already, and you are looking for an alternative.
In both cases, finding the answers to your questions may be time consuming.
First thing first, if you are still trying to understand what products are offered by Airwallex, we have you covered in our in-depth Airwallex review.
If you are past this stage, you may want to check if any other offer is available. That’s why we have developed a full comparison of Statrys and Airwallex. It’s worth reading as we have set out as much information as possible so you can make an informed decision.
The purpose of this comparison is not to come to any definitive conclusion. Determining which option is the best fit for your company will depend on the payment needs of your business.
In a market that lacks transparency, we have used our best efforts to put together a comparison that may help you make your choice. And if anything is missing, please let us know so we can better help other entrepreneurs by adding relevant information. You can contact us on the website or send us an email at support@statrys.com.
Now, let’s move to the comparison:
Accounts & Payments
Statrys and Airwallex both offer a multi-currency business account in Hong Kong that can be used to receive and make payments locally and internationally (via SWIFT). Local and international payments must be in the respective currencies set out in the above chart.
Airwallex introduces their account solution in Hong Kong as the combination of a “Global Account” and a “Wallet”. In practice, this combination provides the clients of Airwallex Hong Kong with benefits similar to a multi-currency business account.
Local collection accounts can be used to collect funds from various platforms such as PayPal, Amazon or merchants via SWIFT and/or domestic payment method.
Local payout is a solution that allows you to pay your service providers locally in their local currency. Local payouts are not processed via SWIFT (i.e. the international payment system) but via the local payment system of the country where your supplier is based.
For example, local payout in Vietnam allows you to pay your Vietnamese supplier in Vietnam in Vietnamese Dong.
Foreign Exchange Services
Cards
Customer Support
Pricing
As of the date of this comparison, there was no pricing page for the services provided by Airwallex Hong Kong - unlike there is one when you use Airwallex services in other countries (UK, Singapore, EU).
Still, to help you compare Statrys and Airwallex, we have used the pricing information for an account opened with Airwallex in Singapore [5].
Accounts & Payments Pricing
* Account opening fee may apply for companies not registered in Hong Kong or Singapore, companies with complex shareholding structure, and companies with high-risk business profiles.
** A fee of 25HKD applies for outward local payment exceeding 500,000HKD.
*** Actual cost in HKD will vary from time to time based on the SGD/HKD exchange rate.
Foreign Exchange Pricing
Cards Pricing
Sources
1.
https://www.airwallex.com/guides/payout/HK/swift2.
https://help.airwallex.com/hc/en-gb/articles/900001756286-What-is-a-global-account3.
ARS, BDT, BHD, BOB, BRL, CLP, COP, CZK, DKK, EGP, HRK, HUF, IDR, ILS, INR, JPY, KRW, LKR, MAD, MXN, MYR, NOK, NPR, NZD, PEN, PHP, PKR, PLN, RON, SEK, THB, TRY, UYU, VND, & ZAR
Disclaimer
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Statrys Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
Airwallex and the Airwallex logo are trademarks of Airwallex (Hong Kong) Limited, registered in the Hong Kong SAR China and other countries and regions.
