Statrys | Wise |
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 ✔️ Multi-currency accounts with local bank details ✔️ Payroll and batch payment features ✔️ Business API integration to automate payments ✔️ Multi-currency business debit cards ✔️ Real-time notifications on transactions and payments ✔️ 100% online application |
Best For SMEs registered in Hong Kong, Singapore, and the BVI 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 Freelancers, and SMEs needing a cost-efficient way to transfer money internationally. |
Statrys Overview
Statrys is an award-winning platform for seamless cross-border payments. Founded in 2019, it provides essential financial services for global business growth, including virtual multi-currency accounts and company registration services in Hong Kong and Singapore.
As a licensed Money Service Operator in Hong Kong, Statrys aims to bridge the gap between international payment solutions and personalised customer support for SMEs worldwide. 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
Wise Overview
Founded in 2011, Wise (formerly TransferWise) is a UK-based fintech company providing international payment solutions for individuals and businesses. Wise services are accessible in most countries and regions worldwide, including Hong Kong, Australia, and the US.
Wise currently has over 10 million active personal and business users across the world.
- Eligible countries: Most countries and regions
- Eligible company type: Any type of business, including freelancers and public companies.
- Licences: Wise is licensed and regulated in the countries where it operates. It is registered as a Money Service Operator in Hong Kong, a Payment Institution in Belgium and the EEA, and an Electronic Money Institution in the UK.
- Partner banks: Barclays, Citibank, Deutsche Bank, JP Morgan Chase, and more, varying by region and country.
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Business Account Features
| Statrys | Wise |
Supported Currencies in the Accounts | 11 currencies: HKD, AUD, CAD, CHF, CNY, EUR, GBP, JPY, NZD, SGD, and USD | Over 40 currencies, including GBP, EUR, AUD, NZD, HKD, and SGD |
Supported Currencies for Local Payments | 12 currencies: USD, AUD, GBP, EUR, THB, INR, VND, TRY, IDR, PHP, SGD, and KRW | More than 20 currencies, including AUD, CAD, EUR, GBP, HKD, and USD (vary by region) |
International Payments (SWIFT) | ✔️ | ✔️ |
Accounting Software Integration | ✔️ | ✔️ |
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Helpful Resource: Read our article to learn more about local and SWIFT payments.
Business Account Fees
| Statrys | Wise |
Account Opening Fee | Free* | Depends on your location Hong Kong: Free Singapore: Free EEA: EUR 50 UK: GBP 45 US: Free |
Account Monthly Fee | Free (if sending 5 or more transfers in the month) | Free |
Receive Local Payments in Hong Kong | Free | Free |
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 | From 0.33% |
Receive International Payments (SWIFT) | HKD 60 | CAD 10 per SWIFT payment in CAD Other currency: Depends on each bank’s handling fees |
Send International Payments (SWIFT) | HKD 85 | Starting from 0.33% (varies by currency) |
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% | Not specified |
FX Rate | Based on live mid-market exchange rates | Based on mid-market exchange rates |
*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.
Quick Tips: At Statrys, we guarantee to offer the best exchange rate in Hong Kong by beating any FX rate you find by 10%.
Card Features and Fees
| Statrys | Wise |
Card Type | Physical and virtual prepaid Mastercard® card | Physical and virtual Visa debit card |
Card Base Currency | HKD | Multi-currency |
Payment Limit | HKD 600,000 per cardholder per year | Varies by issuing country UK: GBP 45,000 per month EU: EUR 45,000 per month |
ATM Withdrawal | ✔️ | Available in limited locations |
ATM Withdrawal Limit | Up to HKD 120,000 per year | Varies by location UK: GBP 4,000 per month EU: EUR 4,000 per month |
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Customer Support
| Statrys | Wise |
Dedicated Account Manager | ✔️ | ✔️ |
Communication Channels | Live Chat on Website, Email, Phone, WhatsApp, WeChat | Help centre (available for everyone) Phone, Email, and Personalised support (available for Wise account holders) |
Working Hours | 10 am to 7 pm Hong Kong Time Monday to Friday (except on public Hong Kong holidays) | Not specified |
FAQs
Can I use Wise as a business account?
Yes. Wise offers business accounts designed to facilitate international payments for business purposes.
What are the main differences between Wise and Statrys?
Can I have both Wise and Statrys accounts?
Disclaimer
Statrys competes directly with Wise 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.
