PayPal Hong Kong vs Statrys: Business Account & Pricing [2024 Comparison]

Q: Can I use PayPal personal account for my business?

While you can use a PayPal personal account for business transactions, it is not recommended. Personal accounts lack specific business features, such as higher transaction limits and mass payments, which are essential for managing business operations effectively.

Q: Can I have both PayPal and Statrys accounts?

Yes, you can have accounts with both PayPal and Statrys. This may be beneficial for leveraging Statrys’s favourable FX rates and PayPal’s ecommerce capabilities.

Q: What should I choose if my businesses requires frequent FX transactions?

If frequent FX transactions are a core part of your business, consider Statrys for its competitive FX rates and low fees.

Statrys	PayPal Hong Kong
Key Features ✔️ Multi-currency business accounts supporting 11 currencies ✔️ FX rate based on real-time mid-market rate with a low fee ✔️ Real-time SWIFT payment tracking ✔️ Virtual and physical payment cards ✔️ Xero, Stripe, PayPal, and Shopify integrations ✔️ 100% online application ✔️ Dedicated customer support in 7 languages	Key Features ✔️ Hold 24 currencies in one account ✔️ Has a mass payment feature ✔️ Integrate with top ecommerce tools and platforms, including Shopify, WooCommerce, eBay, and Eventbrite. ✔️ Unlimited free transfers between PayPal accounts ✔️ No account maintenance fee
Best For SMEs registered in Hong Kong, Singapore, and the BVI are looking for seamless online international payment solutions in multiple currencies with personalised customer support. If you regularly trade FX, Statrys offers the best FX rate in Hong Kong.	Best For Ecommerce businesses in Hong Kong that need a reliable payment processor or payment gateway, that is widely accepted and easy to integrate with popular online stores.
Best For Businesses registered in Hong Kong, Singapore and the BVI that need solutions to send and receive payments in all major currencies at competitive rates. If you regularly trade FX, Statrys offers the best FX rate in Hong Kong.	Best For Ecommerce businesses in Hong Kong that need a reliable payment processor or payment gateway, widely accepted and easy to integrate with popular online stores.
Learn more about Statrys	Learn more about PayPal Hong Kong

Open a Business Account with Statrys

No minimum deposit. No maximum transaction. Support from an account manager.

Statrys mobile application dashboard showing a total balance in a business account.

Statrys Overview

Founded in 2019, Statrys is an award-winning platform for seamless cross-border payments. As a licensed Money Service Operator in Hong Kong, Statrys aims to bridge the gap between international payment solutions and personalise customer support for entrepreneurs and SMEs. Recently, the company won the 2024 Hong Kong Business (HKB) Technology Excellence Award in the Fintech - Payments category.

Eligible countries: Hong Kong, Singapore, and the BVI.
Eligible company type: Most business entity types, including sole trader, public limited company (PLC), and limited liability partnership (LLP).
Licences: Statrys is licensed as a Money Service Operator in Hong Kong and a Small Payment Institution in the UK.
Custodian Bank: DBS Hong Kong

PayPal Overview

PayPal is a well-established and widely recognised payment service provider founded in 1998. It offer a wide range of financial services, including, virtual accounts, payment processing service and payment gateway for companies worldwide to accept, manage, and make payments across borders.

Eligible countries: Most countries and regions.
Eligible company type: Any type of business, including freelancers and public companies.
Licences: PayPal is licensed in the US, the UK, the EU, Hong Kong, and Singapore.
Partner banks: Goldman Sachs Bank, Wells Fargo Bank, Synchrony Bank, among others.

Business Account Features

	Statrys	PayPal Hong Kong
Supported Currencies in the Accounts	11 currencies: HKD, AUD, CAD, CHF, CNY, EUR, GBP, JPY, NZD, SGD, and USD	24 currencies, including AUD, CAD, EUR, USD, JPY, and SGD.
Supported Currencies for Local Payments	12 currencies: USD, AUD, GBP, EUR, THB, INR, VND, TRY, IDR, PHP, SGD, and KRW	24 currencies, including AUD, USD, HKD, JPY, GBP, MYR, and CAD
International Payments (SWIFT)	✔️	✔️
Accounting Software Integration	✔️	✔️
Primary Pros	No transaction limits Can track SWIFT payments in real-time Foreign exchange rate based on real-time mid-market rate with a low conversion fee. Trade FX at spot or forward rate with no transaction volume limits Responsive customer service team with supports in multiple languages	A widely accepted and extensively used online payment platform. Can send multiple payments at once. Integrate with all major ecommerce platforms, shopping carts and POS systems for secure and seamless payment processing for online and offline stores. PayPal to PayPal payments are free
Primary Cons	Only companies registered in Hong Kong, Singapore, and the BVI can apply Has a monthly service fee (for a dedicated account manager)	PayPal Hong Kong doesn’t provide business cards at the moment Don’t have FX tools to help businesses mitigate foreign exchange risk

Helpful Resource: Learn how local payouts can help your business save on costs.

Business Account Fees

	Statrys	PayPal Hong Kong
Account Opening Fee	Free*	Free
Account Monthly Fee	Free (if sending 5 or more transfers in the month)	Free
Receive Local Payments in Hong Kong	Free	3.90% + HKD 2.35, or 2.90% + HKD 2.35 (if received via QR codes)
Send Local Payments	HKD 5 per HKD/CNY payment in Hong Kong. If exceed HKD 500,000: HKD 25 HKD 75 per USD payment in Hong Kong HKD 25 - 50 per local payment in specific countries	2% of transaction amount
Receive International Payments (SWIFT)	HKD 60	4.40% + HKD 2.35, or 3.40% + HKD 2.35 (if received via QR codes)
Send International Payments (SWIFT)	HKD 85	2% of transaction amount
FX Fee	HKD, USD, EUR, CNY, GBP, SGD, JPY, AUD, CHF, NZD, and CAD: Starting from 0.4% INR, IDR, PHP, KRW, THB, TRY, and VND: Starting from 0.6%	3-4%
FX Rate	Based on live mid-market exchange rates	Based on wholesale rate

*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.

Card Features and Fees

	Statrys	PayPal Hong Kong
Card Type	Physical and virtual prepaid Mastercard® card	PayPal Hong Kong doesn’t offer business cards at the time of review.
Card Base Currency	HKD
Payment Limit	HKD 600,000 per cardholder per year
ATM Withdrawal	✔️
ATM Withdrawal Limit	Up to HKD 120,000 per year
Primary Pros	Support ATM cash withdrawals worldwide. Each cardholder can obtain 1 physical card and 4 virtual cards. Conveniently view live transactions and manage payment cards via the app.
Primary Cons	Because Statrys’ corporate cards are pre-paid cards, clients have to top up the balance before spending. An HKD 48 monthly fee is applied for an additional physical card.

Customer Support

	Statrys	PayPal Hong kong
Dedicated Account Manager	✔️	❌
Communication Channels	Live Chat on Website, Email, Phone, WhatsApp, WeChat	PayPal’s community, Help Center, Resolution Center, Email, Live chat, Phone.
Working Hours	10 am to 7 pm Hong Kong Time Monday to Friday (except on public Hong Kong holidays)	9 am - 6 pm Hong Kong Time, Monday to Friday

For a well-rounded understanding, it's worth checking Trustpilot reviews to see what customers say about Statrys and PayPal's customer service.

Open a Business Account with Statrys

No minimum deposit. No maximum transaction. Support from an account manager.

FAQs

What are the main differences between PayPal and Statrys?

Statrys offers real-time FX rates, supports 11 currencies, and provides personalised customer support in multiple languages. On the other hand, PayPal allows businesses to hold 24 currencies, features a mass payment option, and integrates with major ecommerce platforms, enhancing the checkout experience.

Can I use PayPal personal account for my business?

Can I have both PayPal and Statrys accounts?

What should I choose if my businesses requires frequent FX transactions?

Disclaimer

More info

Statrys competes directly with PayPal Hong Kong in the payment industry, but we are committed to providing an unbiased and thorough review. We're committed to providing an unbiased, thorough review to help you make an informed choice.