Paying Thailand from abroad: 15 questions businesses ask, answered

Short answer. Storspay pays Thai bank accounts — Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank — at the mid-market rate for 1% all-in (minimum US$2), usually within minutes, from a business balance funded in USD, CAD, GBP or EUR. Recipients need no account. Getting paid from Thailand is not yet live. The fifteen questions below cover everything else businesses ask before the first payment.

Rate, fee and speed

What rate does Storspay use for Thailand?

The mid-market rate at the moment you confirm — today 1 USD = 33.5341 THB — locked for that payment and printed on the receipt.

What is the fee to Thailand?

1% all-in with a US$2 minimum. Nothing is deducted on the recipient's side.

How fast does the money land?

Usually within minutes over the domestic interbank rail; the same business day at most.

Is there a limit per payment?

Large payments are split automatically under the local channel cap, under one reference and one fee.

Recipients

Which banks can you pay in Thailand?

Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank, Krungthai, Krungsri, TMBThanachart and the other Bank of Thailand-licensed banks.

Does the recipient need a Storspay account?

No. They receive a domestic credit in baht and a notification with the amount and your reference.

Can you pay mobile wallets in Thailand?

Not yet — bank accounts today, wallets on the roadmap.

Can I pay in dollars to a dollar account in Thailand?

Storspay pays baht to Thai banks. A recipient who wants dollars can open a free Storspay sole-trader account and hold USD in their own name.

Documents and compliance

Do I need a licence?

No — you are a business paying invoices. Storspay and its licensed partners hold the licences.

What will the recipient's bank 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.

Who pays Thailand

Can I pay from Canada in Canadian dollars?

Yes — fund by Interac or EFT, free, and pay baht at the mid-market CAD rate.

Can a business in Nigeria, Kenya or Ghana pay a supplier in Thailand?

Yes. It funds its Storspay balance from its own bank or mobile money at 2% and pays the Thai supplier at 1%. See Pay abroad.

Can an education agent or scholarship office pay tuition in Thailand?

Yes — to the institution's bank account with the student's name and admission number as the reference. Storspay is for organisations, not personal transfers.

Can a medical-travel facilitator or insurer pay a hospital in Thailand?

Yes — the deposit and the final bill in baht, with the patient's name and estimate number attached.

Can I get paid from Thailand?

Not yet. Payment requests work from our 26 African, Latin American, Cambodian and Sri Lankan corridors; Thailand is pay-out only for now.

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

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.