Are you having second thoughts about exploring new global financial markets because of the lengthy and tedious procedures of opening a corporate bank account? Constantly wondering how to shorten the amount of time spent just getting a bank account? Are there any alternatives besides traditional banks? If your answer to these questions is a big YES, learn about the available FINTECH OPTIONS for your business now: Airwallex, Currenxie, Neat, Statrys, Payoneer, and WorldFirst and how they make your life a little easier.
Opening a company bank account is the greatest challenge small-scale digital nomads face that hinders them from achieving their entrepreneurial goals. The global pandemic has made it difficult for entrepreneurs to manage their businesses and travel to other countries. Fortunately, Hong Kong’s FinTech platform system is on the rise contributing to the city’s rapid development. Opening the company’s banking account online has become more popular since it does not require flying to the town.
This modern era offers various digital banking platforms that can be overwhelming and confusing for entrepreneurs to choose which suits their business best. To help you have a clearer picture, we have picked the top 6 FinTechs and listed the essentials you need when looking for the right financial partner :
Airwallex — Best for clients who need to trade globally, both online and offline. It offers a multi-currency account from HKD, USD, EUR, RMB, and 7+ more, does not require opening and monthly fees, and has ZERO minimum balance.
RD Technologies — The perfect solution for businesses who transfer money locally through FPS or overseas via wire transfer. RD Tech’s wallet-to-wallet transfer instantly sends and receives money. Plus, accessible with currencies HKD, CNY, USD, JPY, EUR, and more. Enterprises from HK, Commonwealth and EU countries or any country providing company registry search are welcome to apply.
WorldFirst — Perfect alternative for Asian companies who need a digital banking account in 48 hours to start a global business from HK, SG, or CN. It’s a multi-currency account in HKD, USD, EUR, GBP, and 6+ more. Plus, it has no opening and monthly fees, and ZERO minimum balance requirement.
Currenxie — Recommended for entrepreneurs who need a quick domestic account in the EU, UK, US, CA, or AU within 3 days. Approved by the Amazon PSP and supported by Payout API and Foreign Exchange Contract (FEC). It is also a multi-currency account with HKD, USD, EUR, RMB, and 16+ more, has no opening and monthly fees, and ZERO minimum balance requirements.
Statrys — A multi-currency account in HKD, USD, EUR, GBP, and 7+ more made for business owners who make international payments and are looking for quality customer service. It only needs your Business Registration and director’s passport when opening. There is no opening fee except for special cases depending on incorporation location and/or company structure complexity. The monthly fee is HK$88, with unlimited incoming payments and no transaction limit in the Statrys account.
Rapyd — If you are looking for a FinTech with a debit card to run online and offline corporate expenses, Neat is for you. A multi-currency account from HKD, USD, EUR, and GBP. It has no opening or monthly fees. Plus it requires ZERO minimum balance.