Fast global payments & international money transfers for businesses

You can send and receive foreign exchange transfers to and from your IDR account through our trusted payment partners at the most competitive FX rates.
‍We can assist you in sending and receiving FX transfers for your IDR Account manually, which is handy when you want to send large amounts while retaining low fees.

‍How It Works?
‍You will be guided by our support staff to conduct transactions with this method. In general, the process is as follows:

‍To send FX:
‍Aspire's client funds the Aspire safeguarded account in Indonesia > We forward the funds to our FX Partner > our FX Partner makes the payout to the beneficiary's account.

‍To receive FX:
‍The sender will fund our FX Partners account in Indonesia > our FX Partner will forward the funds to the Aspire client's account.

We collaborate with a few partners that work in a similar process. Depending on the nature of your business and the payment request, we will recommend the best partner for you.

‍Getting Started
‍If you are interested in using this alternative, you can fill out the FX Transfer Request Form, and we will be in touch with you shortly after.

Important note:
- The minimum amount to do the FX Transfer is IDR 150,000,000 (USD 10k).
- Our partners will review your payment requests before proceeding to make sure it falls within their Acceptable User Policy.
- The estimated time for your funds to arrive to your beneficiary is 2-5 working days.

The time to process incoming SWIFT transfers depends on the platform used by the sender.

SWIFT transfers generally take 2-5 business days. Aspire will process funds within one business day of receiving them.

For more information, click here

SWIFT is an abbreviation for the Society for Worldwide Interbank Financial Telecommunication and stands for a worldwide network of banks that work collaboratively to provide their customers with international bank transfers.

All SWIFT transfers are carried out via the payer's bank, which gets debited and are routed through multiple intermediary banks before the recipient's bank is credited. This whole process can take up to 1-4 business days.

Local transfer uses a web of financial institutions through which the recipient can be paid using their local bank. Intermediaries are used for facilitating transactions and to clear the bank transfer payment, also known as a remittance.

In local transfers, the funds are processed by the recipient's local bank in their local currency and settled through their local payment system. All you need are the recipient's bank details, including their local bank account number. While local transfers are cheaper than SWIFT transfers, they take longer to process.

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

Global payment is the process of transferring money to a bank account that is set up in a foreign country. This payment could be made to your supplier, your vendor, an employee, a business affiliate or any other entity. Making global payments involved strenuous processes and numerous fees in the past, however, the process is easier and more cost-effective today.

Generally, a global payment provider is involved, who functions as an intermediary between the payer & the receiver from different nations. When a business uses its card to make a purchase, the provider receives the transaction details and relays them to the issuing bank which is located in a different country, thus requiring a process of conversion.

The key difference between international wire transfers and local bank transfers is that local bank transfers can be completed at a relatively low cost, whereas international wire transfers are generally more expensive. International wire transfers, however, are more reliable and faster than local bank transfers.

Whichever mode you choose to transfer money, you’ll usually need the following details. Depending on which mode you choose, additional details (e.g. SWIFT code etc.) may be required.

Name of the recipient.
Name and address of recipient’s bank.
Six-digit sort code of the recipient’s account.
Eight-digit account number of the recipient’s account.
A payment reference (often your business name or customer number) to let the recipient know where the money came from.
Intended date of payment.

There are 2 main types of charges involved with international business payments.

Account-related charges: These are charges related to the business account itself. These include administrative charges, cheque-related charges, document-related charges and service-related charges.

Transaction-related charges: These charges are specific charges which are related to individual transactions. This may vary basis which transaction type you choose Wire transfers, FAST, Debit cards, Credit cards etc.