Statrys and Airwallex both provide multi-currency business accounts in Hong Kong that enable clients to access 11 currencies: HKD, CNY, EUR, USD, AUD, CAD, CHF, GBP, JPY, NZD, and SGD. Moreover, Airwallex supports IDR in addition to these currencies.
To open a business account with Statrys, your business must be incorporated in Hong Kong, Singapore, or the BVI, while Airwallex offers business accounts for businesses in over 50 countries.
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 email@example.com.
Without further ado, let's dive into the comparison between Airwallex and Statrys.
Accounts & Payments
|Multi-currency Business Account in Hong Kong|
|Local Payments in Hong Kong
(i.e., payments received from or made to another account in Hong Kong)
|Supported Currencies for Local Payments||HKD, AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, VND||HKD, USD, CNY, EUR|
|International Payments (SWIFT)|
|Supported Currencies for International Payments||HKD, USD, EUR, GBP, CNY, JPY, CHF, AUD, SGD, CAD, NZD||HKD, CNY, USD|
|Hong Kong Company Registration|
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.
📝 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||Hong Kong||Australia, Canada, EU, Hong Kong, Indonesia, Japan, New Zealand, Singapore, the UK, and the US|
Local collection accounts can receive payments from different sources, including PayPal, Amazon, and merchants through SWIFT or domestic payment methods.
|Local Payout||HKD, AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, VND||AUD, CNY, HKD, USD, INR, IDR, JPY, KRW, MYR, NPR, NZD, PKR, PHP, SGD, LKR, THB, TRY, VND, BHD, ILS, AED, EUR, CZK, DKK, HUF, NOK, PLN, RON, SEK, GBP, ARS, BOB, BRL, CAD, CLP, COP, MXN, PEN, UYU, EGP, MAD|
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||Free*||Free|
|Account Monthly Fee||HKD 88
(with a dedicated account manager)
|Receive Local Payments||Free||Free|
|Receive International Payments (SWIFT)||HKD 55||No information provided|
|Send Local Payments||HKD 5**
Local Payment in Hong Kong
HKD 25 to HKD 50
Local Payment in specific countries
|Send International Payments (SWIFT)||HKD 75||HKD 120 - 200|
*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
|Supported Currencies||USD, EUR, GBP, HKD, SGD, CNY, CHF, CAD, AUD, NZD and JPY||USD, EUR, GBP, HKD, SGD, CNY, CHF, CAD, AUD, NZD, JPY
+35 other currencies*
|FX Services||Spot and forward||Spot|
*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 low as 0.1% (depending on exchange volume)
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.
|Company card||❌||Virtual card only|
|Employee card||Physical & virtual cards||Physical, virtual cards & digital wallet: Google and Apple pay|
|Card base currency||HKD||AUD, SGD, HKD, GBP, USD, EUR, JPY, CAD, NZD, and CHF|
|Payment limit||HKD500,000 combined spending for all cards/year||USD 10,000|
|Cards per account|
|Card mobile application|
|Instant notification of spending|
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.
|Card transaction in a currency different than the card base currency (for example, when using the card for a transaction in EUR)||FX fee based on Mastercard® exchange rate + 1.5%||FX fee based on Visa exchange rate + 1.5%|
|ATM withdrawal||1.99% Minimum HKD 31||Not supported|
|Additional physical cards||HKD 48 per card/month||Free|
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.
|Dedicated account manager|
|Communication channels||Website, Email, Phone, WhatsApp, WeChat||Website, Phone|
|Working Hours||9 a.m. to 6 p.m. Hong Kong Time
Monday to Friday (except on public Hong Kong holidays)
|9 a.m. to 6 p.m. Hong Kong Time|
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.
|4.6/5 based on 213 reviews||3.3/5 based on 648 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.
Is Airwallex safe?
What is Airwallex used for?
Is there a limit on Airwallex cards?
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
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.