Fast global payments & international money transfers for businesses

Streamline payments to suppliers and employees globally with local payout accounts, same-day transfers, and market-leading FX rates.
Aspire business account

Fuel your company’s global ambitions

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Make fast international payments

Make same-day transfers to 15+ major currencies on the go
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Save on your international payments

Enjoy free local transfers in major currencies while enjoying FX rates 3x cheaper than banks.
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No hidden fees

Fully transparent on what you pay for. Get a full breakdown of fees before each transaction, no surprises there.

Get access to the best FX rates for your global payment with no hidden fees

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Send and receive international payments in 30+ currencies across 130+ countries at rates 3x cheaper than banks
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Enjoy low-cost SWIFT payments from USD$8
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No hidden, account opening or monthly maintenance fees

Try our FX calculator to see the difference in savings

Try our forex calculator for real-time, indicative rates and see how Aspire is a cheaper, faster, and more transparent way to send money abroad. You can check the forex transfer rates for numerous international currencies.
*The calculator above is an indication of our real-time rates for SGD foreign transfers. Actual exchange rates may differ based on the use case. For the most updated and accurate rates please access them by logging in to your account.
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Our fee

5.72 SGD

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Free local transfers and market-leading rates for international money transfers

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Open local collection accounts in USD, EUR, GBP, SGD, and IDR 
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Send, hold and receive funds in major currencies to transact with overseas suppliers and customers easily
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Enjoy free local inbound and outbound transfers to minimise FX conversions
open business bank account online

Fast, same-day international money transfer

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Safely send same-day local transfers and FX payments to 30+ major currencies directly from the Aspire App 
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Fast reliable global payments to ensure your partners are always paid on time and improve cash flow

Eliminate errors - sync your transactions with your accounting software

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Close your books twice as fast, with all transactions synced with major accounting software
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Automate your accounting processes and improve your tracking accuracy

Make international money transfers without breaking the bank

Trusted by 15,000+ modern businesses

Payments to vendors have been efficient and timely, saving precious time for the team to analyse trends and improve spending needs. Issuing company cards to multiple departments have been a breeze, and managing department costs were easy to track.

Kenneth Chew

Finance Manager

Saved on average: 117 hours and $44,325 a year

Calculate how much your company would save
Payments to vendors have been efficient and timely, saving precious time for the team to analyse trends and improve spending needs. Issuing company cards to multiple departments have been a breeze, and managing department costs were easy to track.
Kenneth Chew - Finance Manager

Aside from expediting expenses processing, Aspire’s ability to do rebates accorded to expenses supporting business growth was definitely the icing on the cake.

Gregory Van

Gregory Van

Saved on average: 117 hours and $38,800 a year

Calculate how much your company would save
Aside from expediting expenses processing, Aspire’s ability to do rebates accorded to expenses supporting business growth was definitely the icing on the cake.
Gregory Van - CEO

Aspire’s suite of automation tools  revolutionized the way we approach expense management. Now, our teams on the ground have a way to make purchasing decisions easily without the hassle of out-of-pocket expenses.

Gibran Huzaifah

Co-Founder and CEO

Saved on average: 1,155 hours and $198,565 a year

Calculate how much your company would save
Aspire’s suite of automation tools revolutionized the way we approach expense management. Now, our teams on the ground have a way to make purchasing decisions easily without the hassle of out-of-pocket expenses.
Gibran Huzaifah - Co-Founder and CEO

Aspire gave our team the flexibility to make their own purchasing decisions that were otherwise impossible with a more conventional banking solution.

Ajay Bulusu

Co-Founder

Saved on average: 600 hours and $70,000 a year

Calculate how much your company would save
Aspire gave our team the flexibility to make their own purchasing decisions that were otherwise impossible with a more conventional banking solution.
Ajay Bulusu - Co-Founder

Our partnership with Aspire has given us just the tools and insights we need to prepare for any scenario. Thanks to our new expense management solution, we can continue to scale and take on bigger and more exciting clients and projects.

Amritpal Singh

Co-Founder

Saved on average:760 hours and $73,000 a year

Calculate how much your company would save
Our partnership with Aspire has given us just the tools and insights we need to prepare for any scenario. Thanks to our new expense management solution, we can continue to scale and take on bigger and more exciting clients and projects.
Amritpal Singh - Co-Founder
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FAQs about global payments & international money transfers

What are SWIFT transfers and how do they work?

SWIFT is an abbreviation for the Society for Worldwide Interbank Financial Telecommunication and stands for a worldwide network of banks that work collaboratively to provide their customers with international bank transfers.

All SWIFT transfers are carried out via the payer's bank, which gets debited and are routed through multiple intermediary banks before the recipient's bank is credited. This whole process can take up to 1-4 business days.

What are local transfers and how do they work?

Local transfer uses a web of financial institutions through which the recipient can be paid using their local bank. Intermediaries are used for facilitating transactions and to clear the bank transfer payment, also known as a remittance.In local transfers, the funds are processed by the recipient's local bank in their local currency and settled through their local payment system.

All you need are the recipient's bank details, including their local bank account number. While local transfers are cheaper than SWIFT transfers, they take longer to process.

What is the difference between International wire transfers
vs local bank transfers?

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

How do global payments or international money transfers work?

Global payment is the process of transferring money to a bank account that is set up in a foreign country. This payment could be made to your supplier, your vendor, an employee, a business affiliate or any other entity. Making global payments involved strenuous processes and numerous fees in the past, however, the process is easier and more cost-effective today.

Generally, a global payment provider is involved, who functions as an intermediary between the payer & the receiver from different nations. When a business uses its card to make a purchase, the provider receives the transaction details and relays them to the issuing bank which is located in a different country, thus requiring a process of conversion.

How can a Global Business Account help with payments globally?

A Global Business Account is very useful if your business sends or receives payments internationally, it enables you to send and receive payments hassle-free under one account.

1. Save on foreign exchange costs

Saving currency conversion costs is the chief benefit of a multi-currency account. A multi-currency account allows you to receive payment in foreign currency, hold it for as long as you want and convert it when the rate is favourable for you, thus, saving you on conversion costs that add up to a significant amount in the long run.

2. Efficient cash flow management

Businesses often hold international payments because the conversion rates are not in their favour thus becoming a roadblock for efficient cash flow management. With a multi-currency account, however, you can send or receive money anytime and convert it later.

3. Smooth international transactions
With a Global Business Account, you can accept payments in your client or customer’s local currency and pay vendors in their preferred currencies. A Global Business Account allows you to create sub-accounts for different currencies. You can share the unique account number for each currency and send or receive payments easily which is very convenient.

Who offers global payments and international money transfers for businesses in Singapore?

Global payments are offered by various providers through business accounts. Read our article to know more about types of business accounts and how to choose the best one for your business. There are many banks and fintech companies offering business accounts to businesses in Singapore. We have covered them all in our blog, you can click the links to view accounts offered by various banks such as DBS, OCBC, Maybank etc.

However, if you are a start-up or a growing business, chances are you may not meet the eligibility criteria for most of these banks or find their charges to be expensive for your liking. You can consider opting for Aspire multi-currency account for global payments which offers you all the benefits, with eligibility criteria which are less stringent. Read our article on bank charges in Singapore for a quick and easy comparison.

How to open a global payments account in Singapore?

Global payments can be facilitated by opening an account offline at physical branches or by signing up for a digital account which is comparatively easier to create. To open a digital account, you need to:

  1. Register online using your Email
  2. Provide business information such as name, number and address
  3. Verify the information with a government-issued ID
  4. Your account is live once verified

What is the difference between International wire transfers
vs local bank transfers?

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

What is the eligibility criteria for opening a global payments account in Singapore?

Eligibility varies across providers, however, all businesses registered in Singapore are eligible for a Business Account. Foreign businesses can also open Global Accounts with Aspire.

Business owners are required to submit government-issued identity proof and an initial deposit (if required) before opening a multi-currency account in Singapore.

What details do you need to transfer money internationally?

Whichever mode you choose to transfer money, you’ll usually need the following details. Depending on which mode you choose, additional details (e.g. SWIFT code etc.) may be required.

  1. Name of the recipient.
  2. Name and address of recipient’s bank.
  3. Six-digit sort code of the recipient’s account.
  4. Eight-digit account number of the recipient’s account.
  5. A payment reference (often your business name or customer number) to let the recipient know where the money came from.
  6. Intended date of payment.

What are the charges involved with global payments?

There are 2 main types of charges involved with international business payments.

Account-related charges: These are charges related to the business account itself. These include administrative charges, cheque-related charges, document-related charges and service-related charges.

Transaction-related charges: These charges are specific charges which are related to individual transactions. This may vary basis which transaction type you choose Wire transfers, FAST, Debit cards, Credit cards etc.

You can read about all these charges in detail in our blog articles - Bank charges in Singapore & The complete guide to transaction fees.