Overview

• Aspire is a Singapore-based digital banking platform designed for startups and SMEs, offering fast, fully online business account opening with no minimum deposit or monthly fees. It supports multi-currency accounts in over 30 currencies, including SGD, USD, EUR, and IDR. Aspire provides powerful features such as virtual and physical corporate cards, real-time expense tracking, and accounting software integration with platforms like Xero and QuickBooks. Businesses can send global payments, enjoy competitive FX rates, and automate bill payments and approvals. Aspire is regulated by the Monetary Authority of Singapore (MAS) and is trusted by over 50,000 businesses across Asia. It’s ideal for growing companies seeking a cost-effective, tech-enabled financial solution.

Services Offered

Account Types:

• Business Accounts for Startups and SMEs

Currencies Supported:

• Multi-currency support including SGD, USD, EUR, IDR, and others

Banking Services:

• Current Accounts with no minimum balance or monthly fees
• Virtual and Physical Corporate Cards with spend control
• International Payments and FX Transfers
• Bill Payments and Approval Workflows
• Expense Management Tools
• Accounting Software Integration (e.g., Xero, QuickBooks)
• Real-time Transaction Tracking and Notifications
• Multi-user Access with Role-Based Permissions

Required Documentation for Bank Account Opening

Business Registration Documents
 – Certificate of Incorporation (from ACRA or equivalent)
– Company Business Profile or Extract

Identification Documents
 – Valid government-issued ID or passport of all directors and majority shareholders (typically ≥25%)

Proof of Address
 – Utility bill, bank statement, or official letter (dated within the last 3 months)

Corporate Structure Details
 – Shareholder and director structure (may be included in business profile)

Business Activity Details
 – Short description of your company’s activities and expected transaction volume

Live Verification (KYC)
 – Selfie verification and/or live video call with the authorized signatory

Account Opening Process

1. Submit Business Information
    ● Provide company registration details (e.g. ACRA BizFile in Singapore)
   ● Describe your business activity and expected transaction volume
2. Upload KYC Documents
    ● Upload valid ID/passport of directors and shareholders
   ● Submit proof of address and company documents
   ● Complete live selfie verification (if required)
3. Compliance Review
    ● Aspire performs KYC/AML checks and may request additional details
   ● Typically completed within 3–5 business days
4. Account Approval
    ● Once approved, you receive login access to the Aspire dashboard
   ● You can start transacting immediately – no minimum deposit needed

Account Opening Process

1. Document Submission
    ● Provide required KYC documents (passport, proof of address, company documents if applicable)
   ● Complete account application and due diligence forms
2. Compliance Review
    ● Bank performs KYC, AML, and risk assessment checks
   ● Additional information or clarification may be requested
3. Approval
    ● If approved, the bank will issue account details (IBAN, account number, etc.)
   ● This typically takes 5–7 business days (may take longer for offshore entities)
4. Initial Deposit (if required)
   ● Fund the account (no large minimum deposit usually required unless specified)
5. Account Activation
    ● Full access to internet/mobile banking, cards, and other services provided

Aspire Bank Account Opening Summary – (Singapore–based fintech, not a bank)