Supported Local Payment Methods - Aspire SGD Account
Transfer Type | Receive | Send | Notes |
FAST | ✅ | ✅ |
|
GIRO Transfers | ✅ | ✅ | Sending is limited to payroll transfers only |
GIRO Direct Debit Authorization (Interbank GIRO) | ❌ | ❌ |
|
MEPS | ✅ | ❌ |
|
Local Telegraphic Transfer | ✅ | ❌ | Used for IRAS tax refunds |
Direct Credit Authorization | ✅ | ❌ | Receiving is limited to Enterprise SG only |
Direct Debit Authorization | ❌ | ❌ |
|
Deposit/Withdraw Cash | ❌ | ❌ |
|
Cheque | ❌ | ❌ |
|
Receive grants from the government
You can receive payments or refunds from Singapore government agencies into your Aspire account. The process will differ depending on the agency:
Enterprise Singapore – Payments are made via GIRO.
Inland Revenue Authority of Singapore (IRAS) – Tax refunds are processed via Telegraphic Transfer.
Vendors@Gov has confirmed that it does not support payments to virtual accounts, including Aspire accounts.
Follow the relevant steps in the sections below for the agency you are dealing with.
Notes:
IRAS Tax Refunds: Aspire accounts only support tax refunds via Telegraphic Transfer. GIRO or e-GIRO forms are not supported.
Aspire is constantly working to ensure that more participants accept virtual accounts, and discussions usually take place over an extended period of time.
Enterprise Singapore
For Enterprise SG GIRO Form, the applicant (yourself) is required to fill in "Part 1" first before Aspire signs off on the subsequent portions (as a checker in the maker-checker process). Please use your 12-digit account number when filling out this form.
Once you have filled in Part 1, you can send the form to our Support team by following the steps by steps below:
Click on the green messenger icon in the bottom right-hand corner
Under the Messages tab, click "Send us a message"
Type in your query (e.g.: Submit Direct Credit Authorization Form)
Choose "Talk to a person"
Our Support team will take it ahead by signing Part 2.
Inland Revenue Authority of Singapore (IRAS)
To receive tax refunds from IRAS into your Aspire account, please reach out to our Support team in the Aspire app.
Can I use my Aspire account with Vendors@Gov?
No. Vendors@Gov has confirmed that it does not support payments to virtual accounts, including Aspire accounts.
If you need to receive payments from Vendors@Gov, you have these alternatives:
Option 1: Use a traditional bank account
Use a traditional bank that supports receiving funds from Vendors@Gov
You can still use Aspire for all other business transactions
Transfer funds from your traditional bank to Aspire as needed
Option 2: Advocate for virtual account support
Contact Vendors@Gov directly to request support for virtual accounts like Aspire
Vendors@Gov is exploring how digital accounts may be incorporated in the future
Option 3: Submit a feature request to Aspire
Submit a request here to help our team understand your needs
We're actively working with government bodies to expand acceptance of virtual accounts
Your feedback helps us prioritize integration efforts
How to pay 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.
How to pay Corporate Tax to IRAS
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)
How to pay GST
You can pay your GST via bank transfer using your Aspire SGD account. To do this:
Access this link to view IRAS' accepted payment methods
Click "Internet Banking Fund Transfer" to copy the account details and read further transfer instructions from IRAS
Open your Aspire account, click on "SGD Account" from your homepage
Click "Make a transfer", select "New recipient", then place the account details of IRAS
Place the necessary transfer details and follow the user flow
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.