More than 10,000 SMEs and business owners use Statrys, over $7 billion has moved through the platform, and our clients rate us Excellent on Trustpilot. Keeping that trust is our job, and protecting your money has always been part of it. In Singapore, Statrys is licensed by the Monetary Authority of Singapore, and your funds are held with our custodian banks, strictly segregated from our corporate accounts. As we've grown, Standard Chartered has joined us to become our second custodian bank.
If you're about to open a business account for your Singapore company, here's what makes Statrys legit. Wherever a fact can be checked somewhere other than our website, we link to the source.
Where Your Money Is Held
Your funds are held in client accounts at our two custodian banks in Singapore, DBS and Standard Chartered. These client accounts are strictly segregated from our corporate accounts.
To comply with Singapore's Payment Services Act, Statrys holds these client accounts on trust for its clients and cannot use the money to finance its business.
All client money is safeguarded this way. Deposit insurance, which covers bank deposits, does not apply. The details are in clause 7 of the Singapore terms, in our Terms & Conditions.
Licensed by the Monetary Authority of Singapore
In Singapore, Statrys operates through Statrys Singapore Pte. Ltd., licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act 2019 (licence No. PS20200692).
You don't have to take our word for it: search for Statrys on the MAS Financial Institutions Directory and check that the name matches.
What Our Clients Say
Our clients' reviews are public on Trustpilot, so you can see what they say before you open your account.
We've also published our own analysis of those reviews, cons included, in our Statrys Trustpilot review.
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