Statrys' Local Payment Solution: What's New in Our Latest Update

Q: What is the cost of making payments in local currencies?

The price for each transfer varies from country to country. Please check our pricing page for more information on each currency.

Q: Are there any limits to how much I can transfer?

Each country and currency has its limits. Generally, the maximum amount per single transfer is 1M USD or equivalent. You can check the specific limitations of each country on our pricing page.

Q: What if my transfer is above the limit?

If your transfer is above the specified limit, we suggest you split the amount into different transfers below the limit or make a SWIFT payment in USD equivalent to the transfer amount.

Q: What if the country or currency I want to pay to is missing from the list?

We are working on updating the list of countries available for transfers in local currencies. Stay tuned for product update news, and ensure you safelist our domain to receive such communications without going into spam.

Q: Can I make local payouts to both businesses and individual accounts?

Yes, you can make local payouts to both businesses and individuals. Statrys supports individual payouts in USD, AUD, THB, EUR, GBP, and TRY, ideal for freelancers and contractors. Additional currencies like VND, IDR, INR, PHP, SGD, and KRW will be supported soon. For more details, please contact our team.

Navigating cross-border payment processes can be challenging for businesses needing to pay suppliers and vendors in different countries. The traditional payment method through the SWIFT network can be slow and costly, causing frustration and delays.

So we at Statrys are excited to announce that we've teamed up with a global payment system to offer local payment solutions. This new feature eliminates the need for currency conversion and international transaction fees, making the payment process simpler and more cost-effective.

As of today, our clients can easily pay businesses and individuals in:

Hong Kong Dollars (HKD) in Hong Kong
Chinese Yuan (CNY) in Hong Kong
Australian Dollars (AUD) in Australia
US Dollars (USD) in the USA
Thai Bath (THB) in Thailand
Vietnam Dồng (VND) in Vietnam
Indian Rupee (INR) in India
Euros (EUR) available in 33 European countries
British pound sterling (GBP) in the UK
Philippine Peso (PHP) in the Philippines
Singaporean Dollars (SGD) in Singapore
Indonesian Rupiah (IDR) in Indonesia
Turkish Lira (TRY) in Turkey
Korean Won (KRW) in South Korea

We're always working to improve our platform, and we plan to add more local payout options in the future. Stay tuned for updates!

What do you get with Statrys' Local Payment Solution?

Faster transfers in local currencies

Faster

While SWIFT can take 2-3 business days, the local network can arrive as fast as the same working day.

3 times cheaper

Cheaper

3x cheaper than international payments. You can check the full pricing here

Payee receives full amount with transfers in local currencies

Receive the full amount

Your recipient will receive the full amount you are sending, without hidden/extra fees from a correspondent or intermediary banks

FAQs

What countries and currencies are available with Statrys' Local Payment Solution?

The countries currently available for local payments are as follows:
- AUD transfers to Australia
- USD transfers to the USA
- THB transfers to Thailand
- VND transfers to Vietnam
- INR transfers to India
- EUR transfers to 33 European countries
- GBP transfers to the UK
- PHP transfers to the Philippines
- SGD transfers to Singapore
- IDR transfers to Indonesia
- TRY transfers to Turkey
- KRW transfers to South Korea

What is the cost of making payments in local currencies?

Are there any limits to how much I can transfer?

What if my transfer is above the limit?

What if the country or currency I want to pay to is missing from the list?

Can I make local payouts to both businesses and individual accounts?