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| Key Features ✅ Business accounts supporting 11 currencies, including HKD, SGD, and USD ✅ Local payout to company accounts ✅ SWIFT payments with real-time tracking ✅ Physical and virtual payment cards ✅ Online and remote account application process ✅ Xero integration ✅ Dedicated account manager |
Key Features ✅ Personal and business accounts for Hong Kong citizens ✅ SME Saving Accounts with 0.01-0.10% annual interest rates ✅ Free and instant HKD transfers via FPS ✅ In-app online application ✅ Cardless cash withdrawal at JETCO ATMs ✅ Free account option ✅ 24/7 customer support |
| Best For Global or expanding SMEs with frequent transactions in currencies other than HKD. |
Best For Hong Kong-based individuals and businesses that primarily make HKD transactions. |
| Trustpilot rating ⭐⭐⭐⭐ 4.6/5 Based on 259 reviews |
Trustpilot rating No reviews |
Statrys Overview
Statrys is an award-winning payments solution provider based in Hong Kong. Founded in 2019, Statrys provides digital-only financial solutions, from multi-currency business accounts to company incorporation services in Hong Kong and Singapore to over 3,500 companies.
As a neobank, Statrys operates with a mission to provide SMEs and entrepreneurs with seamless cross-border payment solutions with people-first customer service that allows users to connect with dedicated account managers in multiple languages and through various channels, including WhatsApp and WeChat.
- Eligible countries: Hong Kong, Singapore, and the BVI.
- Eligible company type: Any type of registered company that is not involved in prohibited industries, including sole proprietorship, public limited company (PLC), limited liability company (LLC), and limited liability partnership (LLP).
- Licences: Statrys operates as a licensed Money Service Operator in Hong Kong and a Small Payment Institution in the UK.
- Partner bank: DBS Hong Kong.
PAOB Overview
Ping An Oneconnect Bank (PAOB or PAObank) is one of the 8 virtual banks in Hong Kong licensed and authorised by the Hong Kong Monetary Authority in 2019.
PAOB is a wholly-owned subsidiary of OneConnect Financial Technology, an associate of China’s Ping An Insurance Group. It offers retail and SME banking services exclusively online via the PAOB app, including business accounts and loans.
- Eligible countries: Hong Kong.
- Eligible company type: Every company incorporated and registered in Hong Kong.
- Licences: PAOB holds a virtual banking licence issued by the Hong Kong Monetary Authority.
Business Account Features
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| Supported Currencies | 11, including HKD, AUD, CAD, CHF, RMB, EUR, GBP, JPY, NZD, SGD, and USD | HKD |
| Supported Currencies for Local Payments | 14 currencies, including HKD, CNY, USD, AUD, GBP, EUR, THB, INR, VND, TRY, IDR, PHP, SGD, and KRW | HKD |
| Fund Transfers via Faster Payment System (FPS) |  |
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| International Payments (SWIFT) | |
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| Accounting Software Integration | |
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| FX Features | Spot and forward service with FX fee as low as 0.1% | |
| SME Loan Service | |
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| Standout Pro | • Support transactions in over 10 major currencies, including HKD and USD. • Support international payments • Fast account opening time and entirely online application. |
• Extensive banking services for SMEs, including business instalments and revolving loans • 100% in-app online application. • No minimum balance requirements |
| Standout Cons | • No free account options available. | • Only Hong Kong Identity Card holders can apply • Only support HKD |
*PAOB has a SWIFT code. However, we could not find any information regarding SWIFT payments on PAOB’s website.
Business Account Fees
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| Account Opening Fee | Free* | Free |
| Account Monthly Fee | HKD 88 (with a dedicated account manager) | Free |
| Receive Local Payments | Free | Free |
| Send Local Payments | HKD 5 per local payment below HKD 500,000, otherwise HKD 25. HKD 25 to HKD 50 Local Payment in specific countries |
Free |
| Receive International Payments (SWIFT) | HKD 55 | Cannot find the information |
| Send International Payments (SWIFT) | HKD 75 | Cannot find the information |
*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
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| Card Type | Physical and virtual prepaid Mastercard® card | |
| Card Base Currency | HKD | Not available |
| Payment Limit | HKD 600,000 per cardholder per year | Not available |
| ATM Withdrawal | |
JETCO Cardless Withdrawal |
Customer Support
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| Dedicated account manager | |
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| Communication Channels | Live Chat on Website, Email, Phone, WhatsApp, WeChat | Phone, Email, In-app Live Chat |
| Working Hours | 9 a.m. to 7 p.m. Hong Kong Time (excluding weekends and public Hong Kong holidays) |
24-Hour (including public holidays) |
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FAQs
Is PAOB a bank?
Ping An OneConnect Bank, or PAOB, holds a virtual banking licence issued by the Hong Kong Monetary Authority in 2019.
Which is better for SMEs, PAOB or Statrys?
Can businesses outside of Hong Kong open accounts with Statrys or PAOB?
Disclaimer
Statrys competes directly with PAOB 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.
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