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Wise VS Statrys: Business Account Comparison [2024]

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Statrys logo Wise logo
Key Features

✅ Multi-currency business accounts supporting 11 currencies
✅ 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
✅ Allocate your money in “jars” for specific goals or projects.
✅ Multi-currency business debit cards
✅ Real-time notifications on transactions and payments
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.
Best For

Freelancers, SMEs, or individuals needing a cost-efficient way to transfer money internationally.
Trustpilot rating
⭐⭐⭐⭐4.6/5
Based on 261 reviews
Trustpilot rating
⭐⭐⭐⭐ 4.2/5
Based on 211,622 reviews
Learn more about Statrys Learn more about Wise
Statrys mobile application dashboard showing a total balance in a business account.

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

Headquartered in Hong Kong, Statrys aims to bridge the gap between international payment solutions and personalised customer support for SMEs worldwide. It currently serves more than 3,500 companies. 

  • 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.
  • Partner 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: Wells Fargo, Chase, and more, varying by region and currency.

Business Account Features 

  Statrys logo Wise logo
Supported Currencies 11 currencies: HKD, AUD, CAD, CHF, RMB, EUR, GBP, JPY, NZD, SGD, and USD Over 40 currencies, including GBP, EUR, AUD, NZD, HKD, and SGD
Supported Currencies for Local Payments 14 currencies: including HKD, CNY, 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) yes yes
Accounting Software Integration yes yes
Standout Pro • No minimum deposit or transaction limit
• Support real-time SWIFT payment tracking
• Human-based customer support
• Online and remote account opening process • Competitive FX rates
• Services available in several locations worldwide
• Seamless API integration for automating payments
• Send payments to 1,000 payees in one click with the batch payment feature
Standout Cons  • Only companies registered in Hong Kong, Singapore, and the BVI can apply 
• Has an account monthly fee (for a dedicated account manager)
• Business account features and fees vary depending on countries and regions
• Not suitable for businesses with the need for advanced FX hedging tools

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💡 Helpful Resource: Read our article to learn more about local and SWIFT transfers

Business Account Fees

  Statrys logo Wise logo
Account Opening Fee Free* Depends on your location
Hong Kong: Free
Singapore: SGD 54
EEA: EUR 50
UK: GBP 45
US: 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
From 0.43%
Receive International Payments (SWIFT) HKD 55 CAD 10 per SWIFT payment in CAD
Send International Payments (SWIFT) HKD 75 Depends on each bank’s handling fees
FX Fee As low as 0.1%  Variable fees typically start at 0.43%
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.

💡Tip: Read our detailed guide to learn the essentials about opening a Wise business account, including eligibility, required documents, and more.

Card Features and Fees

  Statrys logo Wise logo
Card Type Physical and virtual prepaid Mastercard® card Physical and virtual debit card
Card Base Currency HKD Multi-currency
Payment Limit HKD 600,000 per cardholder per year Depends on where the card is issued
ATM Withdrawal  yes Available in limited locations
ATM Withdrawal Fee 1.99% (Minimum HKD 31) 2 free withdrawals per calendar month
Standout Pro • Support ATM cash withdrawal worldwide
• Conveniently view live transactions and manage payment cards via the app
• Compatible with Google Pay and Apple Pay
• No foreign transaction charges
• Earn 0.5% cash back on some transactions
Standout Cons  • An HKD 48 monthly fee is applied for an additional physical card • Payment cards are only available in the UK, Switzerland, Australia, New Zealand, Singapore, Malaysia, Japan, Canada, Brazil, and most of the EEA.

Customer Support

  Statrys logo Wise logo
Dedicated account manager yes no
Communication Channels Live Chat on Website, Email, Phone, WhatsApp, WeChat Help centre, Contact form, Phone, Email
Working Hours 9 a.m. to 7 p.m. Hong Kong Time
 
Monday to Friday (except on public Hong Kong holidays)
Not specified
Statrys mobile application dashboard showing a total balance in a business account.

FAQs

Can I use Wise as a business account?

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Yes. Wise offers business accounts designed to facilitate international payments for business purposes. 

What are the main differences between Wise and Statrys?

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Can I have both Wise and Statrys accounts?

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Disclaimer

More info

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.

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