Airwallex vs Statrys: Accounts & Pricing [2023 Comparison]

Choosing the right business account is often a complex and time-consuming task, but it doesn't have to be.

In this article, we will compare Airwallex and Statrys business accounts. This comparison aims to provide unbiased and actionable insights that will save you time and help you choose the right business account for your business.

Additionally, if a side-by-side comparison isn't what you're looking for, we also offer an in-depth review of Airwallex and an article on the benefits of having multiple business accounts for greater business flexibility.

Before You Proceed

Statrys competes directly with Airwallex in the payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.

Our insights are derived from industry experience and discussions with clients who have also used our competitors' services. While we'd love for you to choose us, what's most important is that you make the decision that's right for you.

If you have any feedback regarding this review, please get in touch with us at marketing@statrys.com.

Without further ado, let's dive into the comparison between Airwallex and Statrys.

Accounts & Payments

Statrys and Airwallex both offer multi-currency business accounts 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 in the table above.

It’s important to note that to open a business account with Statrys, your business must be incorporated in Hong Kong, Singapore, or the BVI. On the other hand, Airwallex offers business accounts to over 50 countries, including the 3 provided by Statrys.

However, if you plan to set up a company in Hong Kong, Statrys provides a company registration service to help you get started.

📝 Note: Airwallex introduces their account solution in Hong Kong as combining a “Global Account” and a “Wallet.” This combination provides Hong Kong clients benefits similar to a multi-currency business account.

Local collection accounts can receive payments from different sources, including PayPal, Amazon, and merchants through SWIFT or domestic payment methods.

Local payout is a solution that allows for payment in local currencies to services, freelancers, and contractors in their respective countries. For example, with local payout, you can pay your suppliers in Vietnam in Vietnamese Dong.

These transactions are processed via the local payment system of the country where the payee is based instead of the SWIFT network. 

Thus, this solution can save you money from foreign exchange rates and additional charges from currency conversions.

💡 Tips: Check out our article to learn more about local and SWIFT transfers.

Accounts & Payments Pricing

*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.

** A fee of HKD 25 applies for outward local HKD payments exceeding HKD 500,000

Foreign Exchange Services

*Airwallex’s supported currencies also include 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, and ZAR

Both Airwallex and Statrys fees are based on real-time interbank exchange rates. While Statrys offers forex exchange services for 11 currencies, Airwallex provides support for up to 46 currencies.

However, Statrys’ clients can execute spot trades and order forward contracts at preferable rates.

Foreign Exchange Services Pricing

As a business owner, you may find yourself purchasing goods and services from foreign countries or transferring money in different currencies.

Airwallex charges a foreign exchange fee starting from 0.2%, while Statrys offers foreign exchange fees as low as 0.1%, depending on your exchange volume. 

Cards

Airwallex and Startys provide virtual and physical cards for business customers to use for online and in-store purchases in Hong Kong and abroad.

Both companies also offer additional controls such as transaction freezing and card locking or unlocking.

Airwallex also offers a reward program that gives their customers 5% cashback when using employee cards.

However, Statrys’ physical cards can withdraw cash from ATMs worldwide, while Airwallex cards are currently incompatible with ATMs.

Cards Pricing

When using Statrys cards in a currency different from your base currency, you will pay an FX fee based on the Mastercard® exchange rate, plus 1.5%.

Likewise, if you use Airwallex cards, the FX fee will be calculated based on the Visa exchange rate.

The first physical card with Statrys is free. If you require extra physical cards from Statrys, you will be charged a monthly fee of HKD48 per card. However, you can obtain additional Airwallex cards for free.

Customer Support

Having reliable customer service is essential. Knowing that your financial service provider has your back can give you peace of mind. Therefore, you can focus on running your business rather than worrying about account issues.

Statrys gives you a dedicated account manager when you open an account. 

You can choose an account manager who speaks different languages, such as English, French, Thai, Tagalog, Spanish, and Cantonese. 

In addition, Statrys provides customer support through email, website, phone, WeChat, and WhatsApp. You can also see what verified customers say about Statrys' customer support on TrustPilot.

While Airwallex mentions account managers in their FAQ, we could not find more information about their services. You can also contact the Airwallex team via online form and phone.

Customer Reviews

In terms of customer feedback on Trustpilot, Statrys has a score of 4.6/5 based on 213 reviews, while Airwallex has a score of 3.3/5 based on 648 reviews.