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. Start creating your batch payroll payment. Once done, click "Make a Giro Transfer"
Choose SGD as your Source account
Check the "Mark as Payroll transaction" box for payroll tagging. This ensures that users without payroll permission cannot view individual transactions or the total transfers made. To learn more about payroll permissions, refer to this article.
Choose "Same currency"
Choose "Giro transfer" to ensure that "Salary" is tagged and visible to the beneficiary bank. If you choose "Fast transfer", the "Salary" tag will not be visible to the beneficiary bank.
3. Click on "Open GIRO form" to be directed to a page where you can download the Payroll template in either Excel or Google sheet format.
4. 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.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.