Payroll Transfers
Admin and Finance users can send payroll transfers from the SGD Account!
1. On the homepage, click the "Pay salaries" button in the Frequently Used Actions section.
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:
Columns | Detail |
Sl No | Add the serial number based on the number of entries you will be placing on the sheet. |
Currency | 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. |
Reference | 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. |
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"
Notes:
SGD 0.20 fee will be charged per processed GIRO transaction.
The cutoff time for submitting the payroll transfer form is 3 PM SGT during business days.
The Pay Salaries feature is designed specifically for sending salaries to employees within Singapore and cannot be used for overseas transfers.
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.
Please note that 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.
Your employees should receive their salary transfers within 4-5 business days.
CPF Contributions
If your Aspire account has enabled the PayNow feature, you will have the option to conveniently make your CPF contributions using this service!
You may view our video guide or follow our step-by-step process below:
Login to your Aspire account
From your homepage, click on "Send via PayNow"
Select "Upload QR Code" to upload your unique QR Code
Place the amount and other reporting fields on the transfer
Make sure that the generated reference has 20 characters*. Do NOT edit the reference populated on the transfer
Click "Continue"
Review the transfer and if all good, click "Confirm"
*Notes:
CPF provides a new QR code to scan every month. Please refrain from reusing old QR codes to prevent failed CPF payments.
If the generated reference field contains less than 20 characters, do NOT proceed with the transfer. Kindly reach out to our support team via the chat option for further assistance.
Paying Corporate Tax to IRAS
Notes: For information on sending funds from your SGD Account in general, please visit this page.
The Inland Revenue Authority of Singapore (IRAS) has provided several ways to pay your corporate tax. With Aspire, you can easily do this in the app by making a regular transfer with the following details.
Payment mode: FAST (capped at SGD 200,000.00)
IRAS Bank Account details:
Payee - Commissioner of Inland Revenue
Account Type - DBS Current Account
Account No. - 0010468669
DBS Swift Code - DBSSSGSG
DBS Bank Code - 7171
Bank's Address - 12 Marina Boulevard, DBS Asia Central, Marina Bay Financial Centre Tower 3, Singapore 018982
What to indicate under transfer reference:
Your tax reference number
Tax type (e.g. GST, withholding tax)
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.