How SleekFlow saves 99% in bank fees on their international transfers

Learn how SleekFlow uses Airwallex to create corporate Visa cards for its employees and avoid high bank fees when transferring money overseas.

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SleekFlow powers the future of e-commerce, featuring an omnichannel social commerce software. From conversations to conversions, SleekFlow enables full customer journeys across SMS, live chat, popular social and messaging applications such as WhatsApp, Facebook, and Instagram, or whatever customers prefer.

Company size

50 - 100 employees

Location

Hong Kong, Singapore

Industry

Startup, Social Commerce

Airwallex Products Used

Payments & FX
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What does the future of eCommerce look like? For Henson Tsai, the founder and CEO of SleekFlow, it’s all about blending social media and social messaging with the online customer experience. In 2019, Henson launched SleekFlow, an omnichannel social commerce platform, to empower global businesses to carry out full conversational journeys with their customers across SMS, live chat on websites, and popular social and messaging applications.

Save over 99% in fees when transferring money overseas

Headquartered in Hong Kong, SleekFlow runs offices in Singapore and the UK, and works closely with remote engineers from around the world. 

Managing a global workforce, Henson has to process SleekFlow’s payroll duties in multiple currencies, a task that is extremely time-consuming and prone to errors. Depending on where his employees and remote contractors are based, he has to set up the payroll according to their country’s local currency. Before using Airwallex, Henson also faced high TT charges and expensive exchange rates when transferring money overseas through traditional banks, adding up to high costs for his international transfers.

Send international payments with $0 TT fees and market-leading FX rates

Using Airwallex’s FX and international payment services, Henson is able to pay his global employees directly in local currencies within the same day via local routes, avoiding the high TT charges while enjoying market-beating exchange rates. Unlike many major banks, Airwallex does not charge a batch payment processing fee on international money transfers. This allows Henson to upload all of his payment requests in one go, saving him time and money.

Henson Tsai

Founder and CEO

“By using Airwallex to pay our salaries expense, we are able to save more than 99% in transfer fees. We no longer have to go through SWIFT and it’s as easy as making a local transfer. Also, we can arrange quick batch payments with a$0 fee processing fee – in fact, there are no hidden charges when using Airwallex at all!”

Avoid FX charges with a multi-currency global account

Not only are SleekFlow’s employees located around the world, they also have a global customer base. To streamline their payment process, the SaaS company uses a global payment gateway. This allows their global customers to pay for the subscription services online using their local currencies, such as Hong Kong Dollar, Singapore Dollar, Malaysian Ringgit, and British pound. 

However, there is one major drawback. While the payment gateway accepts payments in multiple currencies, it converts everything back to Hong Kong Dollar before transferring the funds into SleekFlow local bank account. For each customer transaction, the payment gateway then charges SleekFlow a fee of up to 2.5-3% on exchange rates and additional settlement fees, hindering the company from gaining their full profits. 

To avoid the unnecessary FX charges, SleekFlow switched over to Airwallex’s global business account. Using Airwallex’s foreign currency account, SleekFlow can easily open local bank accounts wherever their customers are located, allowing them to receive customer payments directly in their local accounts with no added fees.

Open a global multi currency account for free in Singapore

Streamline employee expense reimbursement with employee Visa cards

In their day-to-day operations, SleekFlow’s employees often need to make various company purchases, ranging from SaaS subscriptions in USD to business lunches at local restaurants. Previously, their employees had to use their personal credit cards for these company payments and go through a tedious expense approval and claims process to get reimbursed for their money. Using Airwallex, Henson can easily create employee Visa cards online for his employees, so they can directly use their Airwallex business cards for all company expenses, eliminating the lengthy reimbursement process. 

Henson Tsai

Founder and CEO

“Airwallex is also compatible with our accounting system Xero, so we can streamline our entire claims and payment process and minimize the chances of making mistakes.”

SleekFlow’s key to success

Since it was founded in 2019, SleekFlow has acquired over 4,000 global customers, processing over 20 million messages for them each month. To keep pace with the ever-changing eCommerce digital landscape, Henson encourages entrepreneurs and start-up founders to be adaptable to the shifting consumer demands and move fast to these changes.

Get started with us today to streamline your global business payments! If you have any questions, please feel free to book a demo with our product specialists.

客戶故事

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PURE Group 首席財務官

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I’m so thankful that Airwallex exists! Airwallex allows me to exchange currencies at really great rates, and the interface is very modern and easy to use compared to my bank. We save so much money with Airwallex! In just a few months, we've already saved more than SGD$13,000 in unnecessary fees!
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Co-Founder & CFO, Genesis

Airwallex Testimony
Airwallex 改變了我們對銀行業務的需求。作為一家正蓬勃發展的初創企業,我們需要一個有擴展性、同時具成本效益的批量支付解決方案來支付我們香港境內外的員工和供應商。Airwallex 以接近零的交易費用和領先市場的外匯匯率,幫助我們在每筆銀行轉賬中節省金錢。我們亦有使用 Airwallex 的多幣虛擬Visa卡,支付所有 SaaS 訂閱開支,以避免極難發現的隱藏銀行費用。我們強烈推薦初創開始使用 Airwallex。
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SleekFlow 創辦人

Airwallex Testimony
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Forkast.News 聯合創辦人及營運總監

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