Any feedback on Stratrys?

[avalanche]

Stratrys, a Hong Kong based EMI is offering multi currency business account including EUR IBAN account to UK business.

They seem to be a cool option but I'm surprised I haven't found any thread here. Does anyone have experience with them?

 

[Forester]

It is called Statrys, not StRatrys – Statrys | Payment Services for SMEs. There is some information searchable here on forums but not so much.

multi currency business account including EUR IBAN account to UK business.

Just a remark – according to their FAQ (see webpage), companies registered in Hong Kong, Singapore and the BVI can apply for a Business Account with STATRYS, IBAN Accounts are reserved for companies that have first opened a Multi-Currency Account with Statrys and are incorporated in Hong Kong only (so not for UK companies, if you had in mind this).

 

[vroess]

I just received a response from - they don't work with cryptocurrency companies at all.

 

[For Free]

They are ok and nice, but the fees for big turnover/transaction are high. Also they have internal compliance to review your transactions regularly. You will get Zoom interview to verify your business when opening account but it is quite straightforward

 

[lostguy]

I just received a response from - they don't work with cryptocurrency companies at all.

Fidor Bank try them if you are big enough.

 

[Forester]

Just a remark – according to their FAQ (see webpage), companies registered in Hong Kong, Singapore and the BVI can apply for a Business Account with STATRYS, IBAN Accounts are reserved for companies that have first opened a Multi-Currency Account with Statrys and are incorporated in Hong Kong only (so not for UK companies, if you had in mind this).

Just an update re: supported jurisdictions:
The situation apparently have changed in the meantime, now their FAQ claims
“...we accept applications for companies incorporated in many different jurisdictions.
You can apply online if your company is incorporated in the following jurisdictions: • Hong Kong • Singapore • British Virgin Islands
This list will be extended in the near future.
For other jurisdictions, our Support Team will assist you in the application process.”
I understand the above quoted as the issue is open to negatiations
So IMO worth checking, if someone is interested in HK EMI...

the fees for big turnover/transaction are high.

Could you please explain? The webpage claims
----
Monthly fee
HKD 88

Minimum deposit
No

Maximum transaction amount
No

Incoming payments
Funds received in HKD – HKD 0
Funds received in other currencies – HKD 70 Max

Outgoing payments
Funds sent in HKD – HKD 5
Funds sent in other currencies – HKD 115

FX Fee
as low as 0.2%
-----
(Pricing & Fees)
This I definitely do not consider to be high....

 

[For Free]

@Forester for the first 50k of the month, the transaction fee is ok (about 14$ for SHA and 64$ for OUR). But if you remit more than 50k then every 10k you have to pay something. This fee will be high if your monthly transaction up to some hundred thousand USD. The exchange rate is ok but Wise or Currenxie give better rates

 

[Forester]

@Forester for the first 50k of the month, the transaction fee is ok (about 14$ for SHA and 64$ for OUR).

Yes, it corresponds to amount that is claimed at webpage.

But if you remit more than 50k then every 10k you have to pay something.

Oh, well;
– I perhaps understand the background;
– it is true that Statrys presents itself as payment services for SMEs and for many SMEs (or rather SEs) $50k / month is enough;
– but it should be definitely mentioned at pricelist.
Thanks for sharing, I did not know about it as the persons I know who use Statrys do not reach the limit mentioned...

This fee will be high if your monthly transaction up to some hundred thousand USD.

I agree.

The exchange rate is ok but Wise or Currenxie give better rates

True. I do not like Wise (so I do not use) but Currenxie gives really good rates, I use it myself.

 

[fortunespeculator]

Yes, it corresponds to amount that is claimed at webpage.

Oh, well;
– I perhaps understand the background;
– it is true that Statrys presents itself as payment services for SMEs and for many SMEs (or rather SEs) $50k / month is enough;
– but it should be definitely mentioned at pricelist.
Thanks for sharing, I did not know about it as the persons I know who use Statrys do not reach the limit mentioned...

I agree.

True. I do not like Wise (so I do not use) but Currenxie gives really good rates, I use it myself.

Currenxie provides iban accounts ??which jurisdictions does it work?

 

[Forester]

Currenxie provides iban accounts ??

Yes, of course.

which jurisdictions does it work?

Well, really a lot
– see here https://help.currenxie.com/hc/en-us/articles/4406160191001-Who-can-apply-
(like from anywhere, except U.S. and jurisdictions that are currently under international sanctions or deemed high risk; list of sanctioned and deemed high risk here https://help.currenxie.com/hc/en-us...-can-I-send-and-receive-payments-to-and-from- (valid for onboarding, too).
(But it's OT here, for evt. further discussion it's better go to the thread devoted to Currenxie, there is such one at forum.)

 

[fortunespeculator]

Yes, of course.

Well, really a lot
– see here https://help.currenxie.com/hc/en-us/articles/4406160191001-Who-can-apply-
(like from anywhere, except U.S. and jurisdictions that are currently under international sanctions or deemed high risk; list of sanctioned and deemed high risk here https://help.currenxie.com/hc/en-us...-can-I-send-and-receive-payments-to-and-from- (valid for onboarding, too).
(But it's OT here, for evt. further discussion it's better go to the thread devoted to Currenxie, there is such one at forum.)

Thanks mate for the info.Really helpful.Didnt know about this one.Cheers!!!

 

[Forester]

Thanks mate for the info.Really helpful.Didnt know about this one.Cheers!!!

You're welcome