You must use your SGD SWIFT Account details to receive funds from abroad. If you do not have SWIFT account details activated for your account, you can place a request by following the instructions in this FAQ.
Please take note of the following information:
- Any funds received in this account would be automatically converted to SGD and deposited in your Aspire SGD account after fee deduction. Please refer to "What is the rate for incoming SWIFT transfers?" for information on fees for incoming SWIFT transfers.
- There is a difference between your SGD SWIFT Account and your SGD Local Account. Please do not provide your SGD Local Account details if you are expecting an international transfer. Direct international telegraphic transfers to your SGD Local Aspire account starting with 885215 is not yet accepted
- You can receive funds from most countries listed in Which countries can I receive payments from?. Please refer to What currencies can I receive from overseas? to view all supported currencies.
- Kindly remind your sender to place their name on the Payment Reference field when making a transfer.
- When receiving international transfers to your SGD account, the sender's name will be reflected as M-DAQ PAYMENT SOLUTIONS PTE. LTD.
* To ensure that your SWIFT transfer is successfully received into your account, you can download a guide on the SWIFT payment format by clicking this link. This guide can be shared with your sender to provide them with the necessary information for a smooth transfer.
When sending funds to your account for the first time or receiving investment/funding, please notify us in advance and share supporting documents through this form.
If you are using an FX service provider
You may also consider whether you should be entering your SGD local payment details or SGD SWIFT payment details, as the fees may vary depending on each option.
Some FX providers like Wise pay out SGD locally i.e. they make a local transfer to your account instead of making an international transfer. For such providers, you would save on fees by receiving the money directly into your Aspire SGD account via your local account details. If you’re unsure, we would advise that you check with your provider on this.
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