You can open local currency accounts in Malaysian Ringgit (MYR), Philippine Peso (PHP), Indonesian Rupiah (IDR), and Vietnamese Dong (VND) to collect payments locally in each of these markets, using an account held in your business's own name. Admin users can request these accounts directly from your Aspire dashboard.
Who can request these accounts
Admin users can request and open local SEA currency accounts.
What you get
A dedicated local collection account in MYR, PHP, IDR, or VND, held in your business's name.
The ability to receive payments through each market's domestic payment rails.
The ability to convert collected balances into your own SGD, USD, EUR, or GBP accounts.
Note: If you already have an active SGD SWIFT account with Aspire, your selected SEA currency accounts are issued instantly when you request, you will not need to complete any additional onboarding or review.
How to request a local SEA currency account
On your Aspire dashboard homepage, click "Add a new account"
In the side panel, select the currency account you want to open - MYR, PHP, IDR, or VND.
Review the account information shown, then click "Open account".
First-time only: review Wallex’s Terms & Conditions to continue.
What happens after you request
Once requested, your account will move through the following statuses:
Status | What it means |
Processing | We are setting up your local currency account. This will take 5-6 days, you’ll receive an email from Aspire to collect documents and start your onboarding right after you request. |
Active | Your account is ready. You can now receive funds into it. |
Rejected | Your request was not approved. Please contact our support team for next steps. |