Only Admin users can create or reset the Transfer Approval Policy.
Note: Transfer Approval Policy is available for Australia-incorporated businesses. Once set up, payments are automatically routed to the right approvers before transferring to the beneficiary.
How to create a Transfer Approval Policy:
Step 1: Define Transaction Ranges
On your Aspire dashboard, click "Policies" in the left navigation bar (web app) or "Menu" > "Policies" (mobile app).
Select "Transfer approval policy" on the Company policies page.
Add new transaction ranges and specify the range limits.
Notes on ranges:
The policy is set based on the default currency of your business incorporation. For Australia-incorporated businesses, the default currency is AUD.
Transfer amounts in other currencies are converted at the mid-market exchange rate to determine the applicable range.
You can create up to 3 transaction ranges.
The first range starts from AUD 0.
A defined range is inclusive of the lower limit and less than the upper limit.
Example: AUD 10,000 is in Range 2 if ranges are 0–10,000 and 10,000–20,000.
Step 2: Add Approvers
Add up to 3 Approval Steps per range.
Assign approvers (Finance users with transfer rights and Admins only).
Select whether approval is required from "Any one approver" or "All approvers" in a step.
Note: Approvers in one range are NOT automatically added to other ranges.
Step 3: Review and Publish
Review the policy and click "Save Policy".
Enter the OTP to confirm.
Note:
If an Approver creates a transfer, they don't need to approve it themselves.
Only Admins can edit approval policies. Other Admins are notified when the policy is updated.
Changes only apply to new transfers submitted after the policy change.
How to reset an existing Transfer Approval Policy:
Go to "Policies" > "Transfer approval policy".
Click "Edit" on the upper right.
Delete all created ranges, then click "Continue".
Assign at least one approver, then click "Continue".
Review changes and click "Save Policy".
What if a transfer is stuck due to an old policy?
If an approver leaves and is removed from the policy, pending transfers will be stuck. The original submitter must delete and resubmit the transfer to apply the updated policy.