Supported Local Payment Methods - Aspire SGD Account
Transfer Type | Receive | Send | Notes |
FAST | ✅ | ✅ |
|
GIRO | ✅ | ✅ | Sending is limited to payroll transfers only |
MEPS | ✅ | ❌ |
|
Local Telegraphic Transfer | ✅ | ❌ | Used for IRAS tax refunds (special arrangement required; may incur bank charges) |
Direct Credit Authorization | ✅ | ❌ | Receiving 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.
Follow the relevant steps in the sections below for the agency you are dealing with.
Notes:
Vendors@Gov has confirmed that it does not support payments to virtual accounts, including Aspire accounts.
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, you can submit the Authorisation for Tax Refund via Telegraphic Transfer form.
Please use your Aspire SGD local account details when completing the form:
Bank name: DBS Bank Ltd
SWIFT code: DBSSSGSGXXX
Currency type: SGD
Bank Account Holder's name: Your account name as shown in the Aspire app.
Bank Account number: Your account number as shown in the Aspire app (only numeric characters, remove the dashes).
Bank statement/ letter: Download the SGD local account details by following the steps in this article.
Notes:
This is a special arrangement that requires IRAS approval. You may need to request approval from IRAS before proceeding. Please contact IRAS for further support.
Kindly disregard the note in the IRAS form stating that “your refund request will not be processed if your Telegraphic Transfer request is to a SGD Current or Savings bank account in Singapore.”
IRAS typically processes refund requests within 4–6 weeks upon receiving the completed form.
Refunds made via telegraphic transfer will incur bank charges and may be subject to exchange rate differences.
Refund amounts below SGD 100 will not be processed. These will remain in your tax account to offset future tax liabilities. To receive refunds below SGD 100, please contact IRAS.
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.