Wise VS Statrys: Business Account Comparison [2024]

Q: What are the main differences between Wise and Statrys?

The main differences between Wise and Statrys involve their fee structures, services offered, and operational regions. While Wise provides convenient international money transfer methods for individuals and companies, Statrys offers financial solutions tailored for SMEs, primarily in Hong Kong and Singapore.

Q: Can I have both Wise and Statrys accounts?

Yes, you can have both Wise and Statrys accounts to suit different business needs.


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

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

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


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)
Accounting Software Integration
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

📌 Have you used Wise? Share your review in our short survey and get rewarded for your time!

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

Business Account Fees


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	Free (if 5 or more outgoing transfers made in the month)	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 60	CAD 10 per SWIFT payment in CAD
Send International Payments (SWIFT)	HKD 85	Depends on each bank’s handling fees
FX Fee	15%	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


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		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


Dedicated account manager
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

Open a Business Account with Statrys

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

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

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.