Notes:
- Aspire supports outward GIRO (ONLY for Payroll)
- Aspire does not support outward GIRO for Non-Payroll transactions
- Aspire does not support recurring standing instructions for outward GIRO
How to use outward GIRO for Payroll
Using the AspireApp, you will be able to send GIRO Payroll transfers with the "SALARY" tagging. Click here to find out how.
Note: This is not a recurring setup. Users will have to reinitiate a new transfer every time a new payroll cycle comes.
Timeline of transfer
- Day 1: Submission Date - Submit your request on any calendar day (this can be a non-business day e.g. Saturday, Sunday).
- Day 2: Submission Date + 1 Business Day - After submitting the request on "Submission day", the Payroll transfers will be available in-app for authorized user approvals by "Submission" + 1 Business Day.
- Day 3: Approval Date - User may approve the transactions on any date before 6 pm (this can be a non-business day e.g. Saturday, Sunday).
- Day 4: Approval Date + 1 Business Day - The transaction is executed via the GIRO payment rails on Approval Date + 1 Business Day. E.g. If approval was on Saturday, the transaction is executed on Monday.
- Day 7: Approval Date + 4 Business Days - The beneficiary should expect to see the funds received by Approval Date + 4 Business Days
Timeline of transfer example
- Day 1: Submission Date - User submits a payroll request on Monday
- Day 2: Submission Date + 1 Business Day - Transaction is ready for approval on Tuesday
- Day 3: Approval Date - Transaction is approved by user on Wednesday
- Day 4: Approval Date + 1 Business Day -Transaction is executed via GIRO payment rails on Thursday
- Day 7: Approval Date + 4 Business Days - Funds are received by the beneficiary by Tuesday
Questions? Please log in to the app and reach out in the chat at the bottom right corner of the screen.
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