Accessing Your Local SGD Account Details
To receive transfers to your Local SGD Account within Singapore, Admin and Finance users must share your details with the sender by following the video guide below:
SGD Local Account Bank Address
Your SGD Local Account's address is 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982.
Why is the SGD account number 12 digits long?
The account number digit length reflects how Aspire accounts are set up with our payments partner.
This is due to the way we set up the Aspire accounts. Aspire is a Singapore-based payments services provider that partners with multiple financial institutions to save you time and money. For the SGD Account, Aspire holds a Master Account in DBS Bank whereby the funds are kept in segregated Virtual Accounts (VA) for each of our customers.
The VA number is 12-digits long. This is what you use to receive bank transfers via FAST, GIRO, and MEPS directly into this account number, as well as payouts from online platforms, i.e. Paypal.
What happens if money is sent to my old 17-digit account number?
Your old Aspire 17-digit account number has been closed due to our payment partner exiting the Singapore market. Transfers to the closed account number should be automatically returned.
Supported Transfer Types, Fees, Limit & Timeframe
Your Local SGD Account can receive the transfer types below:
Transfer Type | Aspire Fee | Transfer Limit | Timeframe* |
FAST Transfer | FREE! | 200,000 SGD | Usually within 2 hours |
GIRO Transfer | FREE! | 90 Million SGD | 4-5 business days |
MEPS | FREE! | No Limit | 4-5 business days |
Local Telegraphic Transfer | FREE! | No Limit | 4-5 business days |
Direct Credit Authorization | FREE! |
| 4-5 business days |
Notes:
Transfers are subjected to compliance checks. Our team may email you to ask for further details or documents before we release your transfer. While we will do our best to expedite these reviews, Aspire can not be held responsible for any delays arising from such reviews.
When sending funds to your account for the first time or receiving investment/funding, please notify us in advance and share supporting documents through this form.
To ensure a smooth process when receiving local transfers to your Local SGD Account, please toggle the buttons below:
GIRO Transfers
GIRO Transfers
If you require our help to ensure the smooth transfer of incoming funds/or if you have not received your GIRO transaction after 5 business days, please feel free to chat with our Support Team with the supporting payment proof/receipt which shows that the GIRO was successfully sent to your 12 digit Virtual Account number.
Should you need to receive GIRO transfers from Maritime & Port Authority Singapore, kindly confirm with them if they can send a GIRO transfer to a 12-digit virtual account. After the transfer is made, please chat with our Support Team with the transfer receipt, and we will guide you through the process.
MEPS and Local Telegraphic Transfers
MEPS and Local Telegraphic Transfers
To receive money from a non-FAST or GIRO account in Singapore, such as USD from a Multi-Currency Account at DBS or SGD from a non-FAST enabled bank via Local Telegraphic Transfer/MEPS, the sender will need to send funds to the following account name: Aspire FT Pte. Ltd. on behalf of Your Account Name.
If the sending platform has a character limit, you can leave out the end characters of the name and the transfer will still work.
You can send any common currencies via local telegraphic transfer to the Local SGD Account, provided that it is sent by a local entity/bank. These currencies will be converted to SGD at the bank board rate. In addition, a fee of SGD 10 will be applied for every incoming local telegraphic transfer.
Submitting Direct Credit Authorization Form
Submitting Direct Credit Authorization Form
When submitting a GIRO Application to receive payment to your Aspire Account, you are sometimes required to fill out a GIRO Credit Authorisation Form.
Typically, these forms require the applicant (yourself) to fill in "Part 1" first before Aspire signs off on the subsequent portions (as a checker in the maker-checker process). Please use your 12-digit account number when filling out this form.
Once you have filled in Part 1, you can send the form to our Support team by following the steps by steps below:
Click on the green messenger icon in the bottom right-hand corner
Under the Messages tab, click "Send us a message"
Type in your query (e.g.: Submit Direct Credit Authorization Form)
Choose "Get more help" and then "Account Management"
Our Support team will take it ahead by signing Part 2.
Aspire has received and successfully processed incoming GIRO DCA forms (e.g. Enterprise Singapore) and their subsequent payments. However, certain Government entities (e.g. Vendors@Gov, IRAS) might NOT support paying to third-party virtual accounts such as Aspire, even after the GIRO DCA form is endorsed.
Aspire is constantly working to ensure that more participants accept virtual accounts and discussions usually take place over an extended period of time.
If you are unable to perform a DCA to your Aspire virtual account, please arrange for alternative accounts for the DCA to be credited to, and chat with our Support Team so we can begin discussions with the relevant parties.
Unsupported Transfers
Due to the current setup of Aspire accounts, functions which are related to the following items below is not supported:
Cash Deposit
ATM Withdrawals
Cheques
Direct Debit Authorizations (DDA)
Outbound GIRO transfers
These features are currently in our roadmap and will be released in time. You can also submit feature requests on this page to help us discover and implement further improvements to the platform.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.