Admin and Finance users have the ability to submit both local and FX batch payments from the Aspire SGD account.
How to submit batch FX payments
Send INR, USD, IDR, MYR, EUR, PHP, AUD, THB and VND transfers in batch from your SGD account by following the video guide below or following the steps by steps underneath it.
1. Under Frequently Used Actions, click "View all actions", then select "Make batch payment".
2. Start creating your batch payment
Choose SGD as your Source account
Check the "Mark as Payroll transaction" box for payroll tagging. This ensures that users without payroll permission cannot view individual transactions or the total transfers made. To learn more about payroll permissions, refer to this article.
Choose "FX Payment"
Link your batch payment transfer to a budget (optional)
Choose a category for your batch payment transfers (required)
3. Click "Download SGD FX Template" and fill in the following details:
Template Field | Description |
Destination Currency (INR, USD, IDR, MYR, EUR, PHP, AUD, THB or VND) | Currency you want to send to the recipient. |
Source amount (amount you want to send in SGD) | Enter the amount that you want to send in either the "Source amount in SGD" or "Destination amount in destination currency" field. If both fields are filled, the source amount in SGD will be considered. |
Destination amount (amount you want to send in Destination Currency) |
|
Recipient type | Place "Private" or "Business" depending on the account recipient type |
Account holder name | Recipient's account name |
Account number / IBAN | Recipient's account number or IBAN |
SWIFT / BIC / BSB Code / IFSC Code | Recipient's SWIFT/BIC/BSB/IFSC Code |
ACH Routing Number (required only for USD transfers to recipients within US) | Recipient bank’s ACH routing number |
Purpose of Transfer (required only for USD & INR transfers) | Choose whether it’s Payment for software goods, Payment to businesses before collection of goods, Payment to businesses after collection of goods or Payments for software consultancy/services only |
Invoice Number (up to 30 characters, required only for SGD to INR transfers) | Invoice number related to the transfer |
Country Code (required only for SGD to USD transfers) | Recipient bank’s country code |
Account type (required only for USD transfers to US) | Choose whether it’s Savings or Checking |
Bank Name (required only for SGD to IDR transfers) | Bank name |
Bank Code (required only for PHP & THB transfers) | Recipient’s bank code |
Postcode (required only for PHP, THB & USD transfers) | Recipient’s postcode |
City (required only for PHP, THB, USD transfers) | Recipient's city |
Address (required only for PHP, THB, USD transfers) | Recipient's address |
Reference (optional) | Reference |
See additional transfer instructions here
Notes:
To ensure the numbers under the Account number / IBAN or ACH Routing Number are not truncated and still intact, please input them as "Plain Text" and align them to the right.
Additionally, ensure there is no space, hyphen (-), or other symbol in the Account number / IBAN or ACH Routing.
4. Once done, you can download the copy to your device. When downloading Aspire's SGD FX template, you may select the CSV format.
5. Click on "I have already filled the template" and upload the downloaded copy of the SGD FX Batch Payment template. You can also edit the uploaded batch name.
6. Next, review the matched Aspire fields with your .CSV fields
7. Choose the amount to fix in case the exchange rate changes before approval, then click “Review”
8. Next, review your batch payment transfer. You can review the successful transfer list by clicking "Show list"
Notes:
To see unsuccessful transfers, click
To correct the errors, you can make adjustments to your .csv file and re-upload it. Amending the transfer details directly in Aspire is not available yet.
The batch payment transfers will also follow the transfer approval policy that has been set in place (if any). In this scenario, the approvals needed are determined based on the total amount included in the CSV file, NOT based on each individual transfer.
Users who can make batch payment transfers are Admin, Finance with transfer rights, and Finance with submit-only rights.
How to submit batch SGD payments
Follow the video guide below or step by step underneath it to make local batch payment transfers using your Aspire SGD account.
Under Frequently Used Actions, click "View all actions", then select "Make batch payment".
Start creating your batch payment, then click "Next"
Choose SGD as your Source account
Choose "Same currency"
Link your batch payment transfer to a budget (optional)
Choose a category for your batch payment transfers (required)
If you check the "Mark as Payroll transaction" box, you will be asked to choose the transfer method. This also ensures that users without payroll permission cannot view individual transactions or the total transfers made:
Giro transfer - transactions will be sent via GIRO and the "Salary" tag will be visible to the beneficiary bank. You will be directed to our form to accomplish the GIRO payroll form. See further steps on this FAQ.
Fast transfer - transactions will be sent via FAST however, the "Salary" tag will not be visible to the beneficiary bank. Remember to assign the necessary category for your batch payment transfers and optionally link it to a budget, then click "Next"
Next, upload the recipient and transfer the detail
You can upload your own CSV file containing the following items: the Recipient's Account holder name, Account number, Bank SWIFT code and Transfer amount.
You can also make a copy of Aspire's SGD batch payment template.
Notes:
To ensure the numbers under the Account number are not truncated and still intact, please input them as "Plain Text" and align them to the right.
Additionally, ensure there is no space, hyphen (-), or other symbol in the Account number.
5. Once you upload the CSV file, add the transfer's batch name and click "Next."
6. Match the .csv columns accordingly between the Aspire fields and Your .csv fields. If all is good, hit "Review".
7. Next, review your batch payment transfer. You can review the successful transfer list by clicking "Show list"
Notes:
Click on "Show list" to see the fee breakdown per successful entry.
To see unsuccessful transfers, click "Show Errors"
To correct the errors, you can make adjustments to your .csv file and re-upload it. Amending the transfer details directly in Aspire is not available yet.
8. Once the batch payment is good to go, click on "Submit transfers".
Notes:
The batch payment transfers will also follow the transfer approval policy that has been set in place (if any). In this scenario, the approvals needed are determined based on the total amount included in the CSV file, NOT based on each individual transfer.
Users who can make batch payment transfers are Admin, Finance with transfer rights, and Finance with submit-only rights.
Batch SGD transfer costs SGD $0.5 per transfer.
Why does my batch payment transfer statement not show the transactions and their fees together?
The statement for your batch payment transfer lists transactions and fees separately due to the execution sequence and queue delays. Transactions and fees will appear based on their respective execution timestamps.
As an alternative, you can download the account statement for the specific date when the transaction was executed.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.