What is Penny Testing?
A penny test is a small value transfer sent to validate the beneficiary bank account details. Penny testing is especially useful for time-sensitive payroll transfers as it eliminates the risk of delayed payroll due to invalid/incorrect beneficiary bank account details.
What currencies are supported for Penny Testing?
We provide penny testing for payroll transfers from the Aspire USD account to IDR, PHP and MYR.
How can I do Penny Testing before I set up payroll transfers?
It is advisable to conduct a one-time penny test at least 7 working days before setting up payroll transfers for the first time. Admin and Finance Users can follow the steps below:
On your Aspire dashboard, click on "Payroll" in the left navigation bar (web app).
Click on "New payroll batch".
Select the USD account as the source account.
Select "FX Payment" for the transfer type.
Download and fill out the Aspire USD Batch FX payments template (See guide).
Fill in the bank account information of all your employees for penny testing. You may leave the amount field blank.
Once done, you can download the copy to your device. When downloading Aspire's USD Batch payments template, you may select the CSV format.
Share the downloaded file with our Support Team via live chat, and we will conduct penny testing on the information you have provided. If there are any unsuccessful tests, we will inform you at the earliest.
Once the penny testing is complete, you can update the downloaded file with the correct amount and initiate the payroll transfer by following the process detailed in this article.
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.