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Guide to Sending Local Transfers from Aspire SGD Account
Guide to Sending Local Transfers from Aspire SGD Account

You can send FAST Transfers and GIRO Payroll transfers from your SGD Account!

Updated over a week ago

Supported Transfer Types, Fees, Limit & Timeframe

You can send local transfers from your Aspire SGD Account using these transfers:

Transfer Type

Aspire Fee

Transfer Limit



Individual Transfers: FREE!

Batch Transfers: 0.50 SGD

200,000 SGD**

Almost 2 hours

GIRO (for payroll only!)

SGD 0.20

90 Million SGD

4-5 business days***

Non-FAST participating Bank in Singapore

SGD 18

No limit

3-5 business days


  • *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.

  • **If you wish to send more than 200,000 SGD, you may opt to send it via our Transfer Request Form route.

***Timeline of GIRO Payroll Transfers

  • Day 1: Submission Date - Submit your request on any calendar day (this can be a non-business day e.g. Saturday, Sunday).

  • Day 2: Submission Date + 1 Business Day - After submitting the request on "Submission day", the Payroll transfers will be available in-app for authorized user approvals by "Submission" + 1 Business Day.

  • Day 3: Approval Date - User may approve the transactions on any date before 6 pm (this can be a non-business day e.g. Saturday, Sunday).

  • Day 4: Approval Date + 1 Business Day - The transaction is executed via the GIRO payment rails on Approval Date + 1 Business Day. E.g. If approval was on Saturday, the transaction is executed on Monday.

  • Day 7: Approval Date + 4 Business Days - The beneficiary should expect to see the funds received by Approval Date + 4 Business Days


  • Day 1: Submission Date - User submits a payroll request on Monday

  • Day 2: Submission Date + 1 Business Day - Transaction is ready for approval on Tuesday

  • Day 3: Approval Date - Transaction is approved by user on Wednesday

  • Day 4: Approval Date + 1 Business Day -Transaction is executed via GIRO payment rails on Thursday

  • Day 7: Approval Date + 4 Business Days - Funds are received by the beneficiary by Tuesday

Accepted Banks for Local Transfers

FAST Transfers

Please note that you can ONLY send local transfers to banks under the FAST Network.

Notes: When sending transfers to the banks listed below, make sure to confirm the correct Bank Identifier Code of your customer's bank account:




Choosing an incorrect bank would result in an unsuccessful transfer.

GIRO (Payroll Transfers)

You can send Payroll Transfers via GIRO to these supported banks. Toggle the button below to see the list:

Supported banks you can send payroll transfers

  • Australia and New Zealand Banking Group Limited - ANZBSGSXXXX

  • Bangkok Bank Public Company Limited - BKKBSGSGXXX

  • Bank of America, N.A. Singapore - BOFASG2XXXX

  • Bank of China Limited - BKCHSGSGXXX

  • The Bank of East Asia Limited - BEASSGSGXXX

  • Bank of India - BKIDSGSGXXX


  • BNP Paribas - Singapore Branch - BNPASGSGXXX

  • CTBC Bank Co., Ltd. - CTCBSGSGXXX

  • CIMB Bank Berhad - CIBBSGSGXXX

  • Citibank, N.A., Singapore. - CITISGSGXXX

  • Citibank Singapore Limited - CITISGSLXXX

  • Commerzbank AG, Singapore Branch - COBASGSXXXX

  • Credit Agricole CIB - CRLYSGSGXXX

  • DBS Bank Ltd, Singapore. - DBSSSGSGXXX

  • Deutsche Bank AG - DEUTSGSGXXX

  • DNB Bank ASA, Singapore Branch - DNBASGSGXXX

  • First Commercial Bank, Ltd. - FCBKSGSGXXX

  • HL Bank, Singapore - HLBBSGSGXXX

  • The Hongkong and Shanghai Banking Corporation Limited - HSBCSGSGXXX

  • HSBC Bank (Singapore) Limited - HSBCSGS2XXX

  • ICICI Bank Limited - ICICSGSGXXX

  • Indian Bank - IDIBSGSGXXX

  • Indian Overseas Bank - IOBASGSGXXX

  • Industrial and Commercial Bank of China - ICBKSGSGXXX

  • Intesa Sanpaolo S.p.A. Singapore - BCITSGSGXXX

  • JP Morgan Chase Bank, N.A. - CHASSGSGXXX

  • KEB Hana Bank Singapore Branch - KOEXSGSGXXX

  • Malayan Banking Berhad - MBBESGSGXXX

  • Maybank Singapore Limited - MBBESGS2XXX

  • Mizuho Bank, Ltd. Singapore Branch - MHCBSGSGXXX

  • National Australia Bank - NATASGSGXXX

  • Nordea Bank ABP Singapore Branch - NDEASGSGXXX

  • Oversea-Chinese Banking Corporation Limited, Singapore - OCBCSGSGXXX

  • Bank Negara Indonesia (Persero) P.T. - BNINSGSGXXX

  • Qatar National Bank (Q.P.S.C) - QNBASGSGXXX

  • RHB Bank Berhad - RHBBSGSGXXX

  • Skandinaviska Enskilda Banken AB (PUBL) - ESSESGSGXXX

  • Societe Generale - SOGESGSGXXX

  • Standard Chartered Bank Singapore Limited - SCBLSG22XXX

  • State Bank of India - SBINSGSGXXX

  • Sumitomo Mitsui Banking Corporation - SMBCSGSGXXX

  • Svenska Handelsbanken, Singapore Branch - HANDSGSGXXX

  • UBS AG Singapore Branch - UBSWSGSGXXX


  • UniCredit Bank AG Singapore Branch - BVBESGSGXXX

  • United Overseas Bank Limited - UOVBSGSGXXX

How to send local transfers from SGD account

FAST Transfers

Admin and Finance with transfer and submit transfer rights can initiate a local SGD transfer in-app:

1. Go to your SGD Account page

2. Click on "Submit a transfer button"

3. Select from one of your saved recipients or create a New Recipient. When creating a new recipient, you need to choose their bank from the dropdown list and place their account name & account number

4. Input the amount you would like to send and provide any relevant transfer details such as budget, transfer reference, category, and internal note. Once completed, select "Next"


  • To add a new recipient, please make sure that you have sufficient funds available in your SGD account.

  • If you have scheduled the transfer, it cannot be attached to a budget. To stay updated on this feature, please click "Upvote" on this link to receive the latest updates from our product team.

5. Review the transfer details and if all good, click "Confirm" and the transfer will be initiated.

Notes: If your account has a Transfer Approval Policy in place, the transfer will then require approval from the Approver/s that has been set in your business's policy.

GIRO Payroll Transfers

Admin, Finance with transfer rights, and Finance with submit-only rights users can conveniently pay employees' salaries all at once by following the steps below:

1. Click on "Pay salaries" button under frequently used actions

2. Click on next to read through how the feature works, then once you click on "Get Started" you will be directed to a page where you can download the Payroll template in either Excel or Google sheet format.

3. Make sure that you create a copy of the Excel or Google Sheets template first before you amend the following details:



Sl No

Add the serial number based on the number of entries you will be placing on the sheet.


Only place SGD.

A/c Holder Name

Recipient's bank account name.

A/c Number

Recipient's bank account number.

Bank code

Choose the recipient's BIC from the dropdown menu.*

Transfer Amount

Amount you want to send to the recipient.


Use your company name as the payee so that the recipient can see that the payment is from your company, as it will appear as "Aspire FT Pte. Ltd." on the transfer details. Keep in mind that there is a character limit of 25, so your company name may be shortened.


  • *Please choose from the dropdown menu and refrain from inserting manually.

  • Our Payroll Templates cannot be modified and must follow the columns above.

4. Save your Excel or Google Sheet file in .XLSX format.

5. Return to the previous tab and upload the file by clicking "Choose file."

6. Enter your local SGD account number in the "SGD Virtual Account to debit from" field, then hit "Submit"


  • This is not a recurring setup. Users will have to reinitiate a new transfer every time a new payroll cycle comes.

  • The cutoff time for submitting the payroll transfer form is 3 PM SGT during business days. After you submit the payroll transfer form, it will appear in the pending transfers section of your Aspire app for your approval on the following business day.

  • The cutoff time for approval is 12 PM SGT during business days. Once the transfers are approved, you will not be able to cancel them.

  • The Pay Salaries feature is designed specifically for sending salaries to employees within Singapore and cannot be used for overseas transfers.

Non-FAST participating Bank in Singapore

If you would like to make a transfer from your SGD account to a bank outside of the FAST network, you may raise a request to send the transfer via our Transfer Request Form.

The transfer will incur an SGD 18 fee and will be sent via MEPS. The transfer will be processed through our alternative partners and typically takes 3-5 business days to reach the beneficiary.

What name will be displayed as the sender of the transfer?

Transfer Type

Sender Name


The beneficiary will see your company name as the sender of the transfer.


The beneficiary will see the sender as Aspire FT Pte Ltd, example below:

Sample Employee Bank App Screen

Non-FAST participating Bank in Singapore

The transfers sent via our Transfer Request Form will be sent via our alternative payment partners and will not state your business name as the sender's name. However, you can inform us to indicate your business name in the reference for outgoing transfers.

Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.

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