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Guide to Sending International Transfers from Aspire EUR Account
Guide to Sending International Transfers from Aspire EUR Account
Updated over a week ago

Admin and Finance with transfer rights can send international transfers in two ways:

Via Local Transfer

As long as you have your client's local bank details in their respective country (e.g. Australian/Canadian local bank account details), Admin and Finance users with transfer rights can send the supported currencies locally in their home currency for FREE!

You have the flexibility to send various currencies, but please note that there are limits for certain currencies:

Currency

Home Country

Maximum Amount per Local Transfer

AUD

Australia

No limit

CAD

Canada

100K CAD

CZK

Czech Republic

1M CZK

DKK

Denmark

No Limit

EUR

No Limit

GBP

United Kingdom

100k GBP

HKD

Hong Kong

500K HKD

HUF

Hungary

10M HUF

IDR

Indonesia

350M IDR

INR

India

1.5M INR per beneficiary per day

MXN

Mexico

No Limit

MYR

Malaysia

100K MYR

NOK

Norway

25M NOK

PHP

Philippines

1.3M PHP

PLN

Poland

150K PLN

RON

Romania

200K RON

SEK

Sweden

No Limit

USD

United States

1M USD

SGD

Singapore

200K SGD

Via SWIFT Transfer

You can send the following currencies from your EUR account via SWIFT with no transfer limit:

Australian Dollar (AUD)

Kuwait Dinar (KWD)

Swiss Franc (CHF)

Bahrain Dinar (BHD)

Mexican Peso (MXN)

Thai Baht (THB)

Canadian Dollar (CAD)

New Zealand Dollar (NZD)

Turkish Lira (TRY)

Chinese Yuan (CNH)

Norwegian Krone (NOK)

Ugandan Shilling (UGX)

Czech Koruna (CZK)

Omani Rial (OMR)

UK Sterling (GBP)

Danish Krone (DKK)

Polish Zloty (PLN)

United Arab Emirates Dirham (AED)

Euro (EUR)

Qatar Rial (QAR)

US Dollar (USD)

Hong Kong Dollar (HKD)

Romanian Leu (RON)

Israeli Shekel (ILS)

Hungarian Forint (HUF)

Saudi Riyal (SAR)

Singapore Dollar (SGD)

Japanese Yen (JPY)

South African Rand (ZAR)

Swedish Krona (SEK)

Kenyan Shilling (KES)

You can send SWIFT transfers to all countries except for the listed ones below:

Belarus

Libya

Sudan

Crimea

Luhansk region of Ukraine

Syria

Cuba

Myanmar

Venezuela

Donetsk region of Ukraine

North Korea

Zaporizhzhia region of Ukraine

Iran

Russia

Cambodia

Kherson region of Ukraine

South Sudan

To view the latest updates on restricted countries, please refer to the link here.

Note: If your desired currency is not listed, please refer to our guide on Sending and Receiving International Transfers through Aspire's Alternative FX Partner.

Making a transfer

  1. Click EUR Account under Accounts

  2. Next, click on "Submit a transfer" ​

  3. Next, Click on "New Recipient".

  4. Select the currency you wish to send and provide the account holder's name, country, and recipient type. Then, click on the "Continue" button to proceed.

  5. Select "SWIFT" tab to send SWIFT transfers. To send a local transfer*, be sure to select the "Local Bank Account" tab.

*Only selected currencies can be sent locally.

6. Next, enter the recipient's bank details and proceed by clicking the "Continue" button

7. Enter the amount you wish to send and fill in other transfer fields:

  • Link the transaction to a budget

  • Payment Reference (maximum 132 alphanumeric characters ONLY)

  • Internal note (only shown in your Aspire account)

  • Other payment reference fields

Note: SWIFT transfers may have intermediary bank fees deducted from the sent amount, which vary between $7 - $60 based on the correspondent banks used.

To avoid this, toggle the "Pay EUR 10 extra and fix this amount" button to ensure the recipient receives the exact amount.

8. Once you have reviewed your payment details and are satisfied with them, click the "Confirm" button

Notes: If you are initiating a SWIFT transfer and your business name is longer than 35 characters, please include the full business name in the Payment Reference field. Field 50 (Payer Name) of the MT103 has an inbuilt limitation by SWIFT of 35 characters.

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

  • For EUR & GBP local transfers, the beneficiary will see your company name as the sender of the funds.

  • For other supported currency local transfers, the beneficiary will see Currencycloud or Currencycloud payment partners' names as the sender of the transfer.

  • For SWIFT transfers, the beneficiary will see your company name as the sender.

Transfer Fee & Rate

Local Transfer

Sending these supported currencies locally to their home country is FREE!

SWIFT Transfer

SWIFT transfers sent from the EUR Aspire account will be converted at the best rates, which are up to 3x cheaper than banks and cost EUR 10.

However, please note that there may be intermediary bank fees deducted from the sent amount, which can range from $7 to $60. There are 2 types of SWIFT Intermediary fee types you can choose:

  • Shared Charges (SHA)

    You pay for the Remitting bank's charges (Aspire). Your recipient bears the charges of the Intermediary banks and their bank, which will be deducted from the remittance amount. Your recipient will receive the remaining balance. This is the most common type of charge, where each party bears their respective charges.

  • OUR charges (OUR)

    Charges are borne by the Remitter (you). You bear the Remitting bank's charges and all the Intermediary banks' charges. You can fix the amount the recipient will receive by paying a small fee upfront.

To guarantee that the recipient receives the full amount, you can toggle the "Pay EUR 10 extra and fix this amount" when making a transfer. This will cover the intermediary bank fee and cost EUR 20 in total.

This is the option you should select when you are paying someone a salary or an invoice, and they must receive the exact amount.

Note: Beneficiary bank charges, if any, are still deducted from the amount sent.

Transfer Timeframe

Transfer Type

Timeframe*

Local Transfer

1-2 business days

SWIFT Transfer

3-5 business days

*Our partners may perform compliance checks on transactions, which could result in delays in funds receipt. Admins and Finance users will be notified if more documents or information are required before funds are credited. Additionally, weekends, public holidays, and banking hours may also affect funds receipt, which is beyond our control.

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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