Local-currency Business
Account
100% online and hassle-free.

WHAT DOES IT OFFER

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Your own local account
  • Account in your company name with your unique business account details (IBAN)
  • Available in Euro and GBP
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Hold balances
  • Leave balance in your local currency account
  • Decide when to make payment out
  • Save money on foreign exchange
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Receive payment locally
  • Get paid in local currency by your local clients & marketplaces
  • Receive payments faster
  • Save money on international transfer fee
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Make payment locally
  • Pay your local suppliers in local currency
  • Your beneficiaries receive payments faster
  • Save money on international transfer fee and FX

HOW DOES IT WORK?

Statrys how does it work

FREQUENTLY ASKED QUESTIONS

Local Currency Accounts are reserved for companies that have first opened a Business Account with STATRYS and are incorporated in Hong Kong or Singapore.

As a general principle, information and documents submitted to open a Business Account are sufficient to apply for a Local Currency Account. Except in special cases, no more information and documents will therefore be requested.

Your Local Currency Account details are as follows: Account name: Your company name IBAN: Your unique IBAN number SWIFT: SWIFT code of our EU/UK banking partner

All incoming payments are credited to your Local Currency Account as soon as they are received by our partner bank. Payments are received during business hours: 9am to 5pm UK time, Monday to Friday (except public holidays). The day on which your Local Currency Account is credited actually depends on the nature of the payment made by the remitter: - Payment coming from a bank account in the SEPA Zone* = your Business Account is credited the same working day - SWIFT payment (ie.international transfer) from a bank account outside of SEPA zone* = your Local Currency Account is usually credited after 2 or 3 working days. The actual time may be shorter or longer depending on several factors: who is the issuing bank, whether this bank has a direct relationship with our partner bank, the currency in which payment is made, etc. *SEPA Zone includes the 27 EU countries, the United Kingdom, Iceland, Norway and Switzerland.

All outgoing payments are processed on the same working day, provided that payment instructions are given during business hours. Business hours are from 9am to 5pm UK time, Monday to Friday (except public holidays). The day on which your payment is credited to your beneficiary's bank account actually depends on the nature of the payment: - Payment to another bank account in the SEPA Zone* = your beneficiary's bank account is credited the same working day. - SWIFT payment (ie.international transfer) to a bank account outside of the SEPA Zone* = your beneficiary's bank account is usually credited after 2 or 3 working days. Actual time may be shorter or longer depending on several factors: who is the receiving bank, whether this bank has a direct relationship with our partner bank in Hong Kong, the currency in which payment is made, etc. *SEPA Zone includes the 27 EU countries, the United Kingdom, Iceland, Norway and Switzerland.

Click here to view the applicable fees for the use of your Local Currency Account.

your money & data are
safe and secure

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Regulated by multiple authorities
Registered as a Money Service Operator with Hong Kong Customs and Excise Department and as a Small Payment Institution with the UK Financial Conduct Authority
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Strict segregation of accounts
Clients accounts are strictly segregated from our own corporate accounts at all times. Your funds are never invested or lent to anyone else. It’s your money and you can access it whenever you wish.
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Bulletproof technology
We use the most advanced technologies to encrypt data, manage different security permissions and prevent accidental shortcoming

For more details, look through our  FAQ. If the answer you are looking for is not there, please contact support@statrys.com.


Statrys Limited is licensed as a Money Service Operator (No. 19-02-02726) in Hong Kong. ‍ Statrys UK Limited is a Small Payment Institution (FRM: 911226) registered with the Financial Conduct Authority in the United Kingdom. Statrys UK Limited (FRM: 902805) is a registered agent of PayrNet Limited (FRM:900594), an Electronic Money Institution authorised by the Financial Conduct Authority in the United Kingdom under the Electronic Money Regulations 2011 for the issuing of electronic money. Trade financing services are offered by our partner, Velotrade Management Limited, regulated by the Securities and Futures Commission of Hong Kong (CE Ref #BJL007)