For businesses incorporated in Singapore, your funds are fully safeguarded and segregated into a separate account in accordance with the Monetary Authority of Singapore (MAS) regulations. This ensures that your money remains separate from Aspire’s finances, providing complete protection from the moment we receive it until it is withdrawn or transferred by you.
What happens to my funds if Aspire becomes insolvent?
In the unlikely event that Aspire becomes insolvent, clients would be able to claim their funds from the segregated accounts held in Tier 1 financial institutions, which would be returned in full either in the currency the business account was designated in, or in equivalent currency based on the institution’s official daily exchange rate.
What happens if the safeguarding institution becomes insolvent?
Aspire safeguards client funds only with leading global banks, and conducts thorough due diligence prior to account opening and on an ongoing basis to ensure the long term safety and security of client funds. In the unlikely event that one such institution may become insolvent, client funds may not be returned in full. Aspire holds safeguarded accounts with multiple leading global banks and is in a position to move funds should any risks or concerns arise in the financial soundness of a safeguarding institution. We are committed to only working with the safest banks in the world, like DBS, to protect your funds.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.