Aspire: The Easiest Digital Bank in Singapore
Running a small or medium-sized enterprise (SME) can be challenging. With limited resources and a million things to manage, efficient banking can make or break a business. With digital banking solutions like Aspire, SMEs in Singapore can manage their finances with ease. Think of it as your financial partner, helping you simplify everything from transactions to expense tracking, while saving you money in the process.
What is Aspire and how it is integrated within banking system
Aspire is a pioneering digital banking platform in Singapore, starting their business back in 2019. The main banking partner of Aspire is DBS Bank – the largest bank of Singapore. This means that in fact, DBS bank provides the corresponding accounts for Aspire in Singapore dollars, allowing them to integrate with the Singapore financial network, while maintaining independence of Aspire business.
Besides Singapore Dollar accounts, Aspire also provides accounts in United States Dollars, Euro and British Pounds, which are maintained with the UK’s digital bank The Currency Cloud Limited.
Because Aspire positions itself as an international payment platform and conducts its own due diligence onboarding process, opening business accounts for your company with Aspire is normally much easier than with a traditional bank. The review and approval process usually takes from just a few hours to a couple of days.
So let’s check out the factors why Aspire is the perfect fit for growing businesses and startups:
1. No Hidden Fees – Perfect for Budget Businesses
When you’re running a business, every dollar counts. Aspire’s transparent fee structure is very convenient for anyone who needs to keep a close eye on their budget. Say goodbye to unnecessary charges because Aspire has no monthly maintenance fees, free local transfers and low-cost international payments. For those trying to maximize cash flow, this means fewer headaches and more room for growth.
The fact that Aspire doesn’t force you to maintain high minimum balances or surprise you with hidden fees makes it especially appealing for smaller businesses just getting started.
The only fees you have to worry about are international fees. Receiving transfers in over 30 currencies via SWIFT incurs a fee of $8, while sending payments via SWIFT costs $15. Additional charges apply for extra users and cards, such as S$9 per month for additional admin users and S$15 per additional physical card. It is also best to note that intermediary bank fees for SWIFT transfers may range from $7 to $60, depending on the correspondent banks used.
2. Get Your Business Bank Account Up and Running in Minutes
Save time and start managing your finances instantly. Aspire offers simple and fast online account registration, without the need to visit a bank branch or fill out a huge amount of paperwork.
Whether you are a startup looking for a fast banking solution or an established business looking for a new partner, Aspire guarantees a fast and convenient registration, allowing you to move at your own pace.
3. All-in-One Financial Tools
Aspire goes beyond the basics of a digital bank account. Its all-in-one financial tools are designed with simplicity and convenience in mind. The platform offers a host of features that make managing your finances a lot easier. From tracking expenses to integrating with popular accounting software like Xero, Aspire helps you manage your finances without the hassle.
For businesses that juggle multiple financial responsibilities, Aspire’s all-in-one platform offers a convenient way to centralize tasks and increase efficiency. It’s like having a personal financial assistant available 24/7 to help you stay on top of everything.
4. Global Payments and Multi-Currency Accounts
Today’s businesses are increasingly operating globally, and they need solutions that will make their work easier. Aspire’s multi-currency account allows you to make international transactions without unnecessary hassle. Their competitive exchange rates and low conversion fees mean you won’t be losing any profit to high banking charges when working with overseas clients or suppliers.
Aspire helps make cross-border business as seamless as possible.
5. Manage Expenses Effortlessly with Corporate Cards
Aspire’s corporate debit cards are a lifesaver for companies that want to control their finances without extra effort. Issue cards to team members, set individual limits, track transactions in real-time and ensure everyone stays within the budget. Aspire gives you the tools to manage expenses without having to deal with endless approval processes and paperwork.
Aspire’s corporate card system provides the perfect balance of flexibility and control for growing teams, where delegation is key but oversight is crucial.
Video: SGD and Multi-Currency business accounts tool from Aspire
6. Responsive Customer Support
Aspire knows that businesses need quick answers and reliable support. That’s why their customer service is always available when you need them. Whether it’s through chat, email or a phone call, you can count on Aspire’s team to provide helpful and timely responses. They are aware of the challenges growing businesses face and are ready to help when needed.
7. Built for Modern Businesses
Aspire is built for the needs of today’s businesses. With this platform, you can automate recurring payments, assign individual access rights to each team member and plan future transactions. Aspire continuously evolves its platform based on customer feedback, ensuring that it remains relevant and responsive.
Conclusion
So in short, Aspire is more than just a digital bank – it’s a powerful tool for businesses looking to take control of their finances, minimize costs and streamline operations. Whether you’re a startup finding your footing or an established business scaling up, Aspire provides a banking experience that’s built to grow with you. By offering a cost-effective, user-friendly platform, Aspire has become the go-to choice for businesses in Singapore.
