Accessing Your Local SGD Account Details
To receive transfers to your Local SGD Account within Singapore, Admin and Finance users must share the account details with the sender.
To access your SGD local account details, follow the steps by steps below.
On your Aspire dashboard, click "Funds" in the left navigation bar (web app) or click "Menu" and choose "Funds" (mobile app).
Select your SGD Account
Click on "View account details"
Select "Local Details"
Notes:
If you have multiple SGD debit accounts, you can rename each account by selecting the pencil icon next to it.
For further information regarding using PayNow for receiving transfers, please refer to this article.
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:
Please note that all transfers go through compliance checks by our team or partners, which might cause delays in receiving the funds. Our team might email Admin and Finance users for additional details or documents needed to process your transfer. While we strive to complete these reviews quickly, we can't provide an exact timeline for when you will receive the funds, as weekends, public holidays, and banking hours might also affect the timing. We appreciate your understanding and patience regarding any potential delays.
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.
To ensure swift processing of your GIRO transfer, please request your sender to include your company name in the payment reference. This helps us promptly identify and correctly allocate the payment to your account.
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 "Talk to a person"
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.
Certain government entities, such as Vendors@Gov and IRAS, confirmed that virtual accounts, such as Aspire, are not eligible for their GIRO application. For GST and Corporate Tax payments to IRAS, we recommend making a FAST transfer instead.
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.
Unsupported Transfers
Due to the current setup of Aspire accounts, cheques and cash deposits are not supported forms of funding for your Aspire account.
Aspire will automatically reject such transactions if sent to any of the accounts.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.