Note: You can send free and instant transfers to other Aspire accounts. Please check your eligibility here.
Supported currencies, countries and transfer limits
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 local transfers in their home currency for FREE!
Currency | Home Country | Maximum Amount per Local Transfer | Payment Reference Character Limit** |
AUD | Australia | No limit | Max 100 alphanumeric characters |
CAD | Canada | 100K CAD | Max 100 alphanumeric characters |
CZK | Czech Republic | 1M CZK | Max 140 alphanumeric characters |
DKK | Denmark | No Limit | Different local Nordic banks truncate to fewer characters on the statement. |
EUR | Europe | No Limit | Max 140 alphanumeric characters |
GBP | United Kingdom | 100k GBP | Max 18 characters. The string can be a mix of spaces, letters, numbers and the following special characters: - / ? : ( ) . , + # = ! % & * < > ; { } @ " ' |
HKD | Hong Kong | 500K HKD | Max 200 alphanumeric characters. |
HUF | Hungary | 10M HUF | Max 140 alphanumeric characters. |
IDR | Indonesia | 350M IDR | Max 255 alphanumeric characters |
INR* | India | 1.5M INR per beneficiary per day | Max 35 alphanumeric characters for payments up to 200,000 INR.
|
MYR | Malaysia | 100K MYR | Max 255 alphanumeric characters |
NOK | Norway | 25M NOK | Different local Nordic banks truncate to fewer characters on the statement. |
PHP | Philippines | 1.3M PHP | Max 255 alphanumeric characters |
PLN | Poland | 150K PLN | Max 140 alphanumeric characters |
RON | Romania | 200K RON | Max 140 alphanumeric characters |
SEK | Sweden | No Limit | Different local Nordic banks truncate to fewer characters on the statement. |
USD | United States | 1M USD | Max 10 alphanumeric characters |
SGD | Singapore | 200K SGD | Max 200 alphanumeric characters |
Notes:
*You can initiate unlimited outbound transfers daily, except for INR local payouts.
**Exceeding these character limits will result in a shortened/incomplete payment reference to the receiving party.
Transfer Fee
Sending these supported currencies locally to their home country is FREE!
Transfer Timeframe
Local transfers are processed within 1-2 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.
How to send local transfers from USD account
1. Go to your USD Account, click on "Submit a transfer"
2. Click on "New Recipient"
3. Select the currency you wish to send, then place the account holder name*, country and recipient type
*To ensure a smooth transfer, we recommend confirming the exact name format with your beneficiary. Although omitting special characters in the Account Holder's name typically works, there is a slight possibility that the beneficiary's bank may reject the transfer due to a name discrepancy. Verifying this information in advance can help prevent any potential issues.
4. Select "Local Bank Account" tab
5. Enter the recipient's bank details and proceed by clicking the "Continue" button
6. Enter the amount you wish to send and fill in other transfer fields:
Link the transaction to a budget
Payment Reference
Internal note (only shown in your Aspire account)
Other payment reference fields
Notes: Scheduled transfer is not yet available for transfers from USD Account.
7. Once you have reviewed your payment details and are satisfied with them, click the "Confirm" button
Notes: If you're experiencing an error message when sending transfers, you can find further details here.
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 currencies, the beneficiary will see Currencycloud or Currencycloud payment partners' names as the sender of the transfer.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.