What types of beneficiaries can I transfer SGD to?
You can send SGD payments to individual and business accounts in Singapore.
Payment Types
SGD transfers can be sent via local bank transfer or PayNow.
Name Checks
No name verification is required for SGD transfers.
Is there a limit on the amount I can send?
Transfer Limit: SGD 200,000 per transfer (applies to both local bank transfer and PayNow)
How long does it take for the funds to reach the beneficiary?
Cut-off Times: 24/7 processing
Delivery Estimate:
Local bank transfer: Typically up to 10 minutes after currency conversion is completed
Paynow: Typically instant after currency conversion is completed
Note: Currency conversion can take up to 2 business days from the time your transfer is approved.
What will the sender's name be reflected as?
Your business name will be displayed as the sender on the recipient's bank statement.
What information should I include when sending SGD transfers?
Recipient and transfer details for bank transfer
Full recipient or business name: Up to 35 characters
Bank name
Account number: length varies by bank
Reference: Up to 35 characters
Recipient and transfer details for Paynow
Full recipient or business name: Up to 35 characters
Phone number: With or without +65/65 prefix
Reference: Up to 25 characters
Traces and Recalls
Traces: Trace requests are not supported.
Recalls: Recall requests are supported only for fraud-related cases.
To request a recall, contact Aspire Support Team via the Aspire app.
Bounceback
If your transfer is rejected by the recipient's bank, the funds will be returned to your Aspire account instantly or within 1 hour (including weekends).
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.