Hi, anyone has tried statrys ? I can't find any reviews about it and I am looking for a banking alternative for my HK company for receving and paying mostly in USD and paying in HKD. does airwallex give you a bank account number for such transactions or you must already have one in order to use it? what about currenxie or worldfirst , any good ?
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HK company - what bank account?
- Thread starter vemvemem
- Start date
Yes the account is in your business name with your own Account number. Each currency account you setup in your wallet, comes with its own account number relevant to that currency.
Each currency account then syncs with Xero (the accounting software we use) as a separate bank account.
Each currency account then syncs with Xero (the accounting software we use) as a separate bank account.
Currenxie seems comparable to Airwallex but Neat seems to have a lot of small fees where Airwallex does not.
Things they still need are physical cards and ApplePay (in the pipeline now apparently).
Things they still need are physical cards and ApplePay (in the pipeline now apparently).
Fair enough, I need one that is consistently reliable/available as my clients are SME through to large corporates who are directly paying into the account. So I do not get too much opportunity to use more than one (although I am thinking of Currenxie as a backup account).
I am reading the terms and Policies for Airwallex. It says "The funds collected for you must not stay in the Global Account for longer than the maximum period allowed of 90 days". Which means you can't keep the received payments in your global account for a long time and you must withdraw them. Is it also the same policy for neat and currenxie?
So there's a wallet account, where you transfer your own funds from another business account into the Airwallex account, or transfer your collected funds out of. This account has a different number depending on the currency, but the account name for that is Airwallex Ltd (this is not the customer facing account). Then the Global Accounts you setup are the accounts you can receive money in from your clients (these use your business name as the account name). They are checking accounts to collect funds, and the funds then end up in your wallet account. Typically from there you pay out yourself, suppliers or move the money to another company account.
I didn't realise there was a 90 day max limit, but I'd probably never leave it more than 30 days anyway. I'd be interested if Currenxie allows you to keep money in the account indefinitely, as they might then work well together (if you did not also have a traditional bank account elsewhere).
I didn't realise there was a 90 day max limit, but I'd probably never leave it more than 30 days anyway. I'd be interested if Currenxie allows you to keep money in the account indefinitely, as they might then work well together (if you did not also have a traditional bank account elsewhere).
Arival Bank is now in Beta. It seems to have everything under the one interface, which looks very cool: ARIVAL | Banks are old. We're not. - Arival Bank - The First Fintech Bank
Well I thought you could until I read your above comment... so I guess it must be a 90 day limit. I have not kept funds this long so have never tested it out. The Wallet Account allows you to make payments and take money out of Airwallex, and the Global Accounts are just a collection facility - they automatically deposit funds into the Wallet.
anyone tried / heard about statrys? they are pretty new and no reviews around so I am a bit concerned joining them. their banking partner is DBS.
To be honest I didn't know about this policy but I have money in my Global Wallet (EUR) for many months now and no one complained about it.
Same thing with Currenxie: I'm keeping money there. No issues.
This is another I've never seen before.
Besides, pretty soon they will arrive on the market in HK many virtual banks, the current situation delayed the launches but I'm pretty confident it will happen soon.
Yeah I saw their video/product roadshow and it looks really, really promising... check out that website. Singapore based.
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