What are SGD multi-accounts?
SGD multi-accounts feature lets you create more than one SGD business account under the same Aspire business account.
Why would I need multiple SGD accounts?
Multiple SGD accounts can help you organise your money better. For example, you may want to:
Keep collections separate from payouts
Manage funds for different teams or purposes
Make reconciliation easier
Who can use SGD multi-accounts?
All Aspire SG-incorporated clients can create multiple SGD accounts under one Aspire business account.
How is this different from having multiple Aspire business accounts?
With SGD multi-accounts, you can manage multiple SGD accounts within one Aspire business account, instead of opening separate Aspire business accounts.
Will each SGD multi-account have its own account number?
Yes. Each SGD multi-account will come with its own unique Account number that you can share with customers, vendors, or other counterparties to receive payments.
Can I receive payments into each SGD multi-account?
Yes. Each SGD multi-account has its own unique Account number so that you can receive payments directly into that account.
Can I use each SGD multi-account for payouts, too?
Yes. You can use your SGD multi-accounts for both receiving and sending funds, based on the features available in your Aspire account.
How many SGD multi-accounts can I create?
By default, you can create up to 4 SGD multi-accounts under one Aspire business account.
Can I request more than 4 SGD multi-accounts?
Yes. If you need more than the default limit, please reach out to Aspire Support. Requests may be reviewed on a case-by-case basis.
Can I name my SGD multi-accounts?
Yes. You can add a custom name to each account to help you identify it easily.
Can I update the account name later?
Yes. You can update your account name whenever needed.
Will I be able to choose which SGD account to use in the app?
Yes. Wherever you see the option to select a source of funds, you will be able to choose from your available SGD multi-accounts.
Can I create multi-accounts in other currencies too?
This feature is currently supported only for SGD currency. Availability depends on provider support and product setup.
How to Create Additional SGD Debit Accounts
Admin users can create up to four debit accounts under your SGD fund by following the steps below.
On your Aspire dashboard, click "Funds" in the left navigation bar (web app) or click "Menu" and choose "Funds" (mobile app).
Next, click on "Open new account"
Next, choose SGD debit account as the Account type and provide the account name*
Click "Continue" to finalize. Your new debit account will now be ready for use.
*Note: The assigned debit account name won’t appear as the sender in the beneficiary's bank statement. Depending on the transfer type, your company or our payment partner’s name will reflect as the sender.
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