Written by Axel Firer, Business Expansion Manager
Axel has built a distinguished career in project management, focusing on the finance and insurance sectors. He started his career in 2011 in Japan, where he honed his skills at a prominent French Investment Bank, working with both the Finance and Operation departments, directly under the COO of the ...
Last reviewed by June 2026.
If you hold both a Statrys Hong Kong Business Account and a Singapore Business Account, you can now send payments to a list of countries previously unsupported from your HK account (see the full list below). The payment is executed as two separate transactions — a transfer from your Hong Kong account to your Singapore account, followed by a SWIFT payment from your Singapore account to your payee. From your end, both are approved in a single click.
How it works
When you initiate a payment from your HK account to one of the previously unsupported countries (listed below), the app will explain that two transactions will be executed to complete this payment. A transfer from your HK account to your SG account, followed by a SWIFT payment from your SG account to your payee. You approve both in a single action.
Step-by-step
- Start a payment from your Hong Kong account as you normally would.
- Select a payee in one of the countries listed below.
- The app notifies you that two transactions will be executed to complete this payment.
- Review the summary screen, which shows both transactions: the transfer from your HK account to your SG account, and the outgoing SWIFT payment from your SG account to your payee.
- You can approve both transactions in a single click.
Countries for which this mechanism applies
| Azerbaijan | Bahrain | British Virgin Islands |
| Cyprus | Egypt | Jordan |
| Kuwait | Marshall Islands | Oman |
| Qatar | Saudi Arabia | Turkey |
| United Arab Emirates |
What it costs
The transfer of funds from your HK account to your SG account is free. The outgoing SWIFT payment from your SG account is charged at the standard SWIFT fee — Standard or Full, your choice. There is no additional charge.
What if the payment is returned?
If the receiving bank returns the SWIFT payment, funds are credited back to your Singapore account rather than your originating HK account. You can transfer or convert them from there as needed.
Don't have a Singapore account?
If you don't have a Singapore Business Account, you'll be prompted to open one when you attempt a payment to one of the listed countries. Approver Admins can also apply directly from the dashboard.
Need help or have questions?
If you need assistance or would like to know more, you can reach our support team at support@statrys.com or +852 5803 2818. You can also find answers to common questions in the FAQ section below.
FAQs
Do I need a Singapore Business Account to use this?
Yes. You need an active Hong Kong Business Account and an active Singapore Business Account with Statrys. If you don't have a Singapore account, you'll be prompted to open one when you attempt a payment to one of the listed countries. Approver Admins can also apply directly from the dashboard.
Why are two transactions executed for this payment?
Direct transactions to these countries are currently unavailable from Hong Kong Business Accounts as they are not supported by our local partner financial institution. To complete the payment, funds are first transferred from your Hong Kong account to your Singapore account, and then sent via SWIFT from your Singapore account to your payee.
For which countries does this mechanism apply?
This payment flow is currently available to the following countries and territories: Azerbaijan, Bahrain, British Virgin Islands, Cyprus, Egypt, Jordan, Kuwait, Marshall Islands, Oman, Qatar, Saudi Arabia, Turkey, and the United Arab Emirates.
What happens if my payment is returned?
If the receiving bank returns the SWIFT payment, the funds are credited back to your Singapore account, not your originating Hong Kong account. You can transfer or convert them from there as needed.
Who can book and approve these payments?
Anyone who books or approves this type of payment needs access to both the Hong Kong and Singapore accounts. If a Transaction Maker only has access to the HK account and not the SG account, they will not be able to book the payment and should contact their Approver Admin. Similarly, a Transaction Approver needs access to both accounts to approve the payment.
I don't see a pending payment to one of these countries in my approvals queue. Why?
To approve this payment, you need access to the Singapore account the SWIFT payment is sent from. If you cannot see it, contact your Approver Admin to request access.
What are the fees involved in these transfers?
The transfer from your HK account to your SG account is free. The outgoing SWIFT payment from your SG account is charged at the standard SWIFT fee — Standard or Full, your choice. You will need sufficient funds in your HK account to cover the payment amount and sufficient funds in your SG account to cover the SWIFT fee before the two transactions can be executed.
