When it comes to opening a business account in Hong Kong, business owners usually face two situations:
The first happens when they are about to open their business bank account with a traditional bank, then they find out that the procedure is quite long with a mountain of paperwork. Filled with uncertainties, a question arises: to open a bank account or not to open a bank account?
The second situation happens when they finally succeed in opening a business account with a bank, and months after they receive a notice from the bank indicating that their business bank account is closed without much information.
Why? That’s the question.
Founded in 2018, Statrys is a Hong Kong-based Fintech platform on a mission to serve smaller businesses who cannot afford to operate a corporate account in traditional banks.
Statrys offers its customers the ease of operating in 11 different major currencies and making both local and cross border transactions.
How to Open a Business Account Without a Traditional Bank
Statrys makes it a breeze when it comes to opening a business bank account. The process is easy and quick as it involves no physical interaction or visit, and remarkably less paperwork. The platform is user friendly and provides multilingual support.
To sign in, users simply need to head to the main page of the Statrys website and click on on the “Create Account button” on the high proper of the web page; then fill in account particulars reminiscent of first and final identify, their Firm’s identify, and e mail handle.
After coming into this data and clicking the sign-up button, customers can be taken to a questionnaire to assist Statrys higher perceive the enterprise’s wants and necessities.
Statrys is a banking providers platform that complies with all of the relevant guidelines, legal guidelines, and regulatory necessities in Hong Kong and the UK. This consists of AML, KYC, and Counter-Terrorism Financing. Due to this fact, Statrys requires paperwork for the opening of the enterprise account reminiscent of:
- Id paperwork of Administrators and shareholders
- Enterprise registration certification.
- The character of the enterprise.
Customers can add scans of those paperwork throughout the kind completion. If all paperwork are so as, and there’s no clarification wanted from Statrys, the enterprise account can be opened and energetic inside 48 hours.
With the enterprise account open, the consumer can start receiving and sending cash in 11 completely different currencies everywhere in the world.
Entrepreneur Pleasant Banking Companies For SMEs And Begin-ups.
SMEs and startups are small organizations that depend on two issues to compete with bigger companies. One is their experience or distinctive concept that units their services or products aside from the remaining, and the opposite is low overhead and price.
Nonetheless, in relation to banking, their overhead can rise considerably. It is because banks are oriented in direction of making service packages that cater to bigger purchasers as these are those the place banks can earn cash extra confidently. Which means smaller organizations, particularly startups, are usually not producing sufficient revenue for the banks, and might oftentimes be let go with out warning or purpose.
With regards to international fee, Statrys is value and time efficient. It has been seen that 7.8% of beneficiaries’ checking account particulars are incorrect, which ends up in many issues with customers when sending cash. In contrast to different different options in the marketplace, Statrys verifies that the beneficiaries’ particulars are right, which minimizes the chance of dropping cash and offers customers peace of thoughts to focus extra on their companies.
Statrys’s charges are clear and inexpensive. Which means there are not any hidden charges for customers, and low quantity purchasers can nonetheless discover the providers possible for his or her necessities. Click on this hyperlink to learn extra particulars about Statrys’s pricing (https://www.statrys.com/pricing/).
Overseas Alternate: The right way to get Foreign exchange providers Tailor-made for SMEs.
With regards to banking and making cross border funds, SMEs are inclined to solely concentrate on transaction charges. Whereas in reality, they need to take a look at the transaction price and the FX price. That is the place Statrys turns into a superb different for SMEs and every other enterprise proprietor looking for price-effectiveness and transparency of their transaction suppliers.
Statrys’s main service entails spot order, ahead order, hedging, and mid-market charges with low unfold charges in 11 completely different currencies.
Different options Statrys offers embrace:
- Higher-than-market charges.
- Skilled opinions on the suitable technique.
- Aggregated information of the worldwide market.
- 11 completely different currencies to commerce and maintain.
- A buying and selling toolbox with guides on the right way to develop into a profitable dealer.
- Prolonged buying and selling hours.
- Finest Foreign exchange charges
Statrys is at all times seeking to evolve their providers, and at the moment are increasing their footprint in Thailand and London, permitting Statrys to offer native forex accounts in GBP and EUR for Asian SMEs who want to develop their enterprise in Europe. https://www.statrys.com/statrys-railsbank-local-currency-accounts-smes/
As properly, they’re engaged on releasing their debit card to facilitate customers’ funds, accessible internationally. Try this hyperlink to enroll in the debit card waitlist: https://www.statrys.com/debit-card/
For extra details about Statrys, please go to (https://www.statrys.com/)