Paying suppliers and manufacturers in Thailand: deposits, balances and the exact baht on the pro-forma

Short answer. A supplier in Thailand quotes in baht or in dollars, asks for a 30% deposit and the balance against the shipping documents, and will not release the goods until the money is in the account. Storspay pays the exact figure on the pro-forma to the supplier's bank — Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank — at the mid-market rate for 1% all-in, usually within minutes, with the pro-forma number on the receipt. No correspondent bank, no short arrival, no week of waiting.

Who buys from Thailand

software and design studios (Chiang Mai is a developer hub), tour operators and hotels, auto-parts, electronics and food manufacturers, exporters of rice, rubber and packaged food, medical and wellness providers — the buyers are importers in Nigeria, Kenya, Ghana and South Africa, distributors in the Gulf, and companies in the US, Canada, the UK and Europe sourcing from Bangkok, Chiang Mai, Phuket, Pattaya and Khon Kaen. The supplier wants two things: the money to arrive exactly as invoiced, and to see it before the container leaves.

Deposit and balance, without the gap

Pay the deposit from your Storspay balance with the pro-forma number as the reference. When the documents are ready, pay the balance the same way; the supplier's bank shows two domestic credits that match the two invoice lines. If you buy from several suppliers, Run Payroll pays them in one batch with one fee line.

Paying from Africa

A business registered in Nigeria, Kenya, Ghana or any of our other African corridors funds its Storspay balance from its own local bank or mobile money at 2% and pays the Thai supplier from that balance at 1% — no dollar queue at the bank, no agent, and a receipt that names the importer and the pro-forma. See Pay abroad from Africa, Latin America & Asia.

What is different about Thailand

Thailand is a manufacturing and tourism economy with a deep banking system: every supplier, hotel and studio has a Bangkok Bank, KBank, SCB or Krungthai account and domestic transfers land in seconds. Thai recipients are precise about baht amounts — invoices are issued in baht and the accounts team expects the exact figure — and they are tired of inbound wires that arrive a few per cent short after the correspondent bank and the receiving bank's FX desk have taken their cut. Storspay pays the baht figure on the invoice at the mid-market rate, with the 1% on its own line.

Documents, tax IDs and what the recipient's bank may ask

Thai banks ask the purpose of an inbound foreign payment under Bank of Thailand rules, and amounts at or above US$50,000 equivalent require a Foreign Exchange Transaction Form completed by the recipient's bank. Because Storspay delivers baht through a local partner, the recipient sees a domestic credit and the documentation stays light: keep the invoice and the Storspay receipt, and make sure the recipient's registered company name matches the account name. Thai businesses invoice with their 13-digit tax ID; a VAT-registered recipient will issue a tax invoice in baht.

How a payment to Thailand works on Storspay

1. Fund your balance in USD (ACH or wire), CAD (Interac e-Transfer or EFT), GBP (UK bank transfer) or EUR (SEPA) — to account details in your own business name. Funding is free.
2. Add the recipient once: their name as it appears on the account, the bank (Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank, Krungthai, Krungsri, TMBThanachart and the other Bank of Thailand-licensed banks) and the account number. Storspay checks the account name before you confirm.
3. Type the amount in either box. Enter what you want to send and see the baht that land, or type the baht figure on the invoice and see what it costs you. The rate is the mid-market rate; the 1% is on its own line.
4. Confirm. The money goes over the domestic interbank rail and usually lands within minutes — the same business day at most. The recipient gets a notification with the exact amount, and you get a receipt with the invoice reference.

Nobody in Thailand has to sign up, install an app or touch anything other than their own bank account. Everything on the recipient side looks like an ordinary domestic transfer.

What it costs

Storspay charges 1% all-in on payments to Thailand, with a minimum of US$2, at the mid-market rate. That one line covers conversion, settlement and delivery; there is no FX markup, no intermediary-bank charge and nothing deducted on the recipient side.

Rates in this guide are the mid-market rate on the day of writing (1 USD = 33.5341 THB); the calculator on the homepage shows today's. Large payments are split automatically under the local channel cap, under one reference and one fee.

See what your team in Thailand receives →

Questions businesses ask before the first payment to Thailand

The supplier wants US dollars, not baht. Can you do that?

Storspay pays Thai bank accounts in baht. Most suppliers who quote in dollars are happy to receive the baht equivalent at the mid-market rate on the day — it is usually more than their own bank would have given them for the dollars.

Can I pay a supplier before my own verification is finished?

No. Business verification (KYB) comes first; it usually takes a day. After that every payment is immediate.

How do I show the supplier the payment is on its way?

Every payment has a receipt with the reference, the baht amount and the status; forward it. The supplier's bank shows the credit within minutes of "Sent".

Can you pay PromptPay?

Not yet. Storspay pays Thai bank accounts by account number today; PromptPay is on the roadmap. Every PromptPay ID is linked to an ordinary bank account you can pay now.

Will the recipient's bank ask for documents?

For most business payments, no — the money arrives as a domestic baht credit. At or above the equivalent of US$50,000 the recipient's bank completes a Foreign Exchange Transaction Form; your invoice and the Storspay receipt are what they ask for.

Can I pay a Thai hotel or supplier in baht for a quote they gave me in US dollars?

Yes. Type the dollar amount and Storspay shows the baht figure at the mid-market rate; or type the baht figure on their invoice and see the dollars it costs — both boxes are editable.

Who this is for — and who it is not for

Storspay is for businesses and organisations: companies, agencies, schools, hospitals, facilitators, foundations and sole traders paying other businesses and professionals for work, goods and services. A sole trader counts as a business and signs up in their own name.

What Storspay is not is a personal money-transfer service. We do not open personal accounts, and every payment has to be a business transaction: an invoice, a contract, a fee note, work delivered. Money to family and personal transfers are not what this is, and we would rather say so now than at verification.