What are the transfer fees?

Local SGD transfers are free, with favorable rates for foreign currency transfers.

Your SGD Account details has been set up with security, fast processing speed, and lower fees in mind. It provides your business with an easy to use, all-in-one platform to manage finances with the best value on the market.

Overview of fees

What fees are involved and in what amounts depend on the methods of receiving or sending payments. If you plan on sending an international FX transfer, you are looking at one of the best conversion rates in the market. Inbound international telegraphic transfers are 3x cheaper than banks, even including the SWIFT fees. Additionally, FAST transfers to your account are fast and secure, without any fees from us.

Outbound international FX transfers

Transfers are done at mid-market FX rate and are charged with the standard Wise fee. Wise offers amongst the best conversion rates in the market. 

If you want to simulate the FX rate & fees on a transaction, you can check the historical mid-market rate here. You can also re-compute the transfer fees here.

Inbound FAST transfers (within Singapore only)

The transfers are done at the FX rate of the sender bank, but Aspire takes no fees on these transfers.

Inbound International Telegraphic Transfers

For all supported currencies as listed in this page

  1. Incoming international SGD transfers are charged at a flat incoming fee of SGD 35.00, with the best rates of up to 3x cheaper than banks.
  2. Depending on the charge type, a SWIFT transfer fee may apply:
    • If the transfer is sent via SWIFT and the charge type is set as ‘SHA’ (shared) or ‘BEN’ (beneficiary), the fee would be between SGD 5 - SGD 60 depending on the correspondent bank(s) used by the SWIFT network.
    • If the charge type is set as ‘OUR’, this means that the fee would be borne by the sending party and therefore would not apply to you as the recipient.

We suggest that you clarify the arrangement with the sending party prior to making the payment. In general, the above fees would already be deducted from the amount that is intended to be deposited into your Aspire SGD account.


You can also check our detailed pricing benchmark here .


Questions? Please let us know here or call us at +65 3165 1500 during business hours (Mon - Fri, 9:30 AM - 6:30 PM SGT).