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Currenxie VS Statrys: Business Accounts Comparison [2024]

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Statrys

Currenxie

Key Features

✔️ Multi-currency account that supports 11 currencies.

✔️ Supports 12 currencies for local payments.

✔️ SWIFT payment and real-time tracking

✔️ FX services with competitive exchange rate

✔️ 1 physical and 4 virtual payment cards per user

✔️ Xero Integration

✔️ 100% online application

Key Features

✔️ Multi-currency wallets supporting 15 currencies

✔️ Local currency accounts in 10 locations

✔️ Payment card (1 per account) with cashback potential

✔️ Spot trade and forward contracts

✔️ Extensive integration with ecommerce websites and payment gateways

✔️ Xero Integration

✔️ 100% Online application

Best For

Small to medium-sized businesses (SMBs) who want to send, receive, and hold multiple currencies within a single account. This is ideal for businesses focused on Hong Kong, Singapore, and BVI, offering them the flexibility to manage a wide range of currencies without opening multiple accounts in different regions.

Type of business: Ideal for businesses that frequently deal in foreign currencies and value personalised customer service.

Best For

Businesses that require local currency accounts in multiple countries, enabling them to operate as if they had a domestic presence in key regions like the US, UK, EU, and Australia.

Type of business: Best for ecommerce, and businesses that need to hold funds and make payments in local currencies globally.

Primary Cons

  • Only companies registered in Hong Kong, Singapore, or the BVI can open a business account.

Primary Cons

  • Higher fees to send and receive local payments in Hong Kong.
  • Only companies based in Hong Kong can obtain payment cards, with one payment card allowed per account.
Statrys mobile application dashboard showing a total balance in a business account.

Statrys Overview

Founded in 2019, Statrys is a Hong Kong-based Money Service Operator that offers a variety of solutions for businesses, including multi-currency business accounts, business payment cards, and company creation services to help entrepreneurs and small to medium-sized businesses navigate the complexities of global commerce with ease.

In 2024, Statrys was awarded with the  Hong Kong Business (HKB) Technology Excellence Award in Fintech. This award serves as recognition of Statrys’ commitment  to its customer-centric approach and innovation. 

Since its inception, Statrys has facilitated over 2 billion in transactions and served more than 3,500 companies across 70+ countries.

  • Eligible countries: Hong Kong, Singapore, and the BVI.
  • Eligible company type: All types of businesses. However, your business must not operate in prohibited industries
  • Licence: Statrys is licensed as a Money Service Operator license (No. 19-02-02726) in Hong Kong and as a Small Payment Institution (FRM: 911226) with the Financial Conduct Authority in the United Kingdom (FCA).
  • Custodian Bank: DBS Hong Kong.

Currenxie Overview

Currenxie is a fintech company that makes international payments easy for businesses of all sizes. Founded in 2014, Currenxie offers a range of payment solutions, including local currency accounts, business expense cards, and foreign exchange services. Its user-friendly platform and business APIs make it simple for companies to manage cross-border transactions.

  • Eligible countries: Most countries, except businesses registered in the United States and those under sanctions and high risk.
  • Eligible company type: Most types of businesses except those registered in the US and those in prohibited industries.
  • Licence: Currenxie Limited is regulated by the relevant authorities in the countries where it operates, including Australia, Canada, Hong Kong, South Africa, the UK, and the US.

Business Account Features Comparison

Statrys

Currenxie

Supported Currencies in the Accounts

11 currencies: HKD, AUD, CAD, CHF, RMB, EUR, GBP, JPY, NZD, SGD, and USD

15 currencies: USD, EUR, HKD, GBP, JPY, CAD, AUD, NZD, RMB (CNH), SGD, CHF, DKK, NOK, SEK and IDR.

Local Payment Currencies

12 currencies: USD, AUD, GBP, EUR, THB, INR, VND, TRY, IDR, PHP, SGD, and KRW

14 currencies: AUD, CAD, CNY/CNH, EUR, GBP, HKD, INR, IDR, MXN, PHP, ZAR, THB, USD, VND

Local Currency Account

10 locations: the US, UK, EU, Hong Kong, Australia, Singapore, Japan, Canada, Indonesia, and Mexico

FX Features

Spot and forward contracts services

Spot and forward contracts services

International Payments (SWIFT)

✔️

✔️

Accounting Software Integration

✔️

✔️

Primary Pros

  • Send, receive, and hold money in all major currencies in one single account.
  • Send local payments in 12 currencies.
  • Track SWIFT payments in real-time and share the tracking link with your payee.
  • Offer FX services at a competitive exchange rate, without transaction volume limits.
  • Xero integration
  • Offer local currency accounts in major markets 
  • Support local payments in 14 currencies
  • Offer spot and forward contracts for business clients
  • Integration with multiple ecommerce platforms and payment gateways, including Shopify, eBay, Etsy, PayPal, Stripe, Klarna, Adyen, and Alipay.
  • Most businesses are eligible to apply for Currenxie business accounts

Primary Cons 

  • Eligible only for companies registered in Hong Kong, Singapore, and the BVI
  • Higher fee for accepting and sending local payments in Hong Kong 
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Did you know? Local payments are a faster international transfer alternative and potentially cheaper than SWIFT.

The key difference between Statrys and Currenxie lies in the local currency account feature. Currenxie allows businesses to open local accounts in 10 countries, including the US, UK, and Australia, with local bank details. This enables businesses to collect, hold, and transact in local currencies as if they had a domestic bank account, avoiding currency conversion fees and enabling faster local payments. This feature is particularly beneficial for companies with international operations, as it allows them to collect funds like a local business in these regions.

On the other hand, Statrys provides a multi-currency account based in Hong Kong, where businesses can manage major currencies within a single account. However, businesses can only receive local payments within Hong Kong and have to rely on SWIFT payments for international transfers, which often incur higher fees and are slower compared to local payments.

While both platforms offer similar FX services and integrations, Currenxie is better suited for businesses needing local payment solutions across multiple countries, whereas Statrys is ideal for those looking for simplified multi-currency management in specific regions.

Business Account Fees Comparison

Statrys

Currenxie

Account Opening Fee

Free*

Free

Account Monthly Fee

Free (if 5 or more outgoing transfers are made in the month)

Free

Receive Local Payments in Hong Kong

Free to receive local payments in Hong Kong

USD 0.75

(equivalent to around HKD 5.8)**

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

USD 3

(equivalent to around HKD 23.5)**

Receive International Payments (SWIFT)

HKD 60

USD 8 per transfer

(equivalent to around HKD 62.7)**

Send International Payments (SWIFT)

HKD 85

USD 8 per transfer

(equivalent to around HKD 62.7)**

FX Rate

Based on live mid-market exchange rates

Based on mid-market exchange rates

FX Fee

Starting from 0.4%: HKD, USD, EUR, CNY, GBP, SGD, JPY, AUD, CHF, NZD, and CAD

Starting from 0.6%: INR, IDR, PHP, KRW, THB, TRY, and VND

Between USD and HKD: 0.10%

Other currencies: 0.40% - 0.60%

*Excluding companies not registered in eligible countries, those with complex shareholding structures, and those with high-risk business profiles.

**Actual cost in HKD will vary from time to time based on the USD/HKD exchange rate.

In terms of fees, Statrys and Currenxie have significant differences in their cost structures. Statrys charges no fees for receiving local payments in Hong Kong and offers low fees for sending them, such as HKD 5 for HKD/CNY transactions, making it a cost-effective option for businesses focused on Hong Kong-based transactions. In contrast, Currenxie charges a flat fee of HKD 23.5 for local payments across multiple countries, providing more consistency for international businesses.

For SWIFT payments, Statrys charges between HKD 60 and HKD 85, while Currenxie applies a fixed fee of HKD 62.7 for both sending and receiving payments. Though the fees are similar, Currenxie offers extra savings through its local currency accounts, allowing businesses to bypass costly international transfers.

Overall, Currenxie's predictable fee structure makes it more advantageous for businesses with global operations, whereas Statrys is better suited for companies focused on local payments within Hong Kong.

Card Features and Fees

Statrys

Currenxie

Card Type

Physical and virtual prepaid Mastercard® card

Physical and virtual Visa debit card

Card Base Currency

HKD

HKD

Payment Limit

HKD 600,000 per cardholder per year

Unlimited, provided your account has sufficient funds.

ATM Withdrawal 

✔️

✔️

ATM Withdrawal Limit

Up to HKD 120,000 per year

Could not find the information

ATM Withdrawal Fee

1.99% (minimum of HKD 31)

2% (minimum of HKD 30)

Foreign Transactions Fee

1.5% + Mastercard® conversion rate

1.95% + Visa conversion rate

Primary Pros

  • Withdraw cash worldwide from any ATMs that support Mastercard® (excluding restricted countries)
  • Each cardholder can obtain 1 physical card and 4 virtual cards.
  • Manage and control each card in real-time
  • Issue a card, control spending, and track expenses all in one dashboard.
  • Offerings related to Visa partners such as Google Workspace, Office 365, Shopify, and Hootsuite.
  • Unlimited 1% cashback on all eligible purchases
  • Compatible with Google Pay wallet

Primary Cons

  • Need to top-up money before using payment cards
  • Not compatible with digital wallets
  • A monthly fee of HKD 48 applied for each additional card
  • No reward or cashback program
  • Only one car per account, which means employee cards are currently unavailable.
  • The Currenxie card is available only to businesses registered in Hong Kong.
green-lightbulb

Looking for options for credit cards? Find out about the best credit cards in Hong Kong.

Statrys is great for businesses that need multiple cards to manage team expenses, offering the flexibility to issue both physical and virtual cards for several employees. However, having to pre-load funds and the lack of digital wallet support might be inconvenient for some businesses.

On the other hand, Currenxie focuses more on flexibility and rewards. Its unlimited spending capability and 1% cashback on all purchases make it appealing to companies with high transaction volumes. However, it only provides one card per account, which can be limiting for businesses that need cards for multiple team members. Overall, Statrys is better for managing multiple users, while Currenxie provides better perks, particularly for companies with simpler card requirements.

Customer Support

Statrys

Currenxie

Personalised Customer Services

✔️

Communication Channels

Live Chat on Website, Email, Phone, WhatsApp, WeChat

Help centre, Query forms

Working Hours

10 am to 7 pm (GMT +8)

Monday to Friday (except on public Hong Kong holidays)

We cannot find specific information on Currenxie’s website.

When it comes to customer support, Statrys stands out with personalised service and multiple communication options, including live chat, email, phone, WhatsApp, and WeChat. This makes it easier for customers to get help quickly, especially for businesses that value direct, responsive support.

On the other hand, Currenxie offers more limited support, relying on a help centre and query forms, which may not be as efficient for businesses needing immediate assistance. Additionally, Currenxie doesn’t provide clear information about its support hours, which could cause uncertainty regarding availability.

For a complete picture, we recommend taking a look at Trustpilot reviews to see how clients feel about Statrys and Currenxie’s customer service.

Statrys mobile application dashboard showing a total balance in a business account.

FAQs

What are the key differences between Currenxie and Statrys?

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Currenxie provides local currency accounts in various currencies to collect funds and hold them in a multi-currency wallet. Statrys offers multi-currency business accounts to receive, hold, and send money in all major currencies. Also, Statrys promises to offer the best FX rate in Hong Kong.

How do the payment card features compare between Statrys and Currenxie?

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Can I open both a Statrys business account and a Currenxie business account?

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Disclaimer

More info

Statrys competes directly with Currenxie in the payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.

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