Paying Thailand from Canada: fund in Canadian dollars, pay in baht, 1% all-in

Short answer. A Canadian business funds its Storspay balance in Canadian dollars — Interac e-Transfer or EFT, free — and pays baht in Thailand from that balance at the mid-market CAD rate for 1% all-in. There is no detour through US dollars and no C$30–50 wire fee; the recipient's bank sees a domestic credit, usually within minutes.

Why Canadian payers lose twice on a wire to Thailand

A Canadian bank usually converts CAD to USD at its own spread, then sends a USD wire that is converted again at the receiving end at another spread, with a correspondent bank in between. Two conversions, three fees, five days. Storspay converts once, CAD to baht, at the mid-market rate.

Funding in CAD

Interac e-Transfer for amounts up to the daily limit your bank allows, EFT or domestic wire for larger amounts, both free and both to account details in your own company's name. The balance shows in CAD and USD; you pay Thailand from either.

Who this is for in Canada

Software companies in Toronto, Vancouver, Montreal, Calgary and Ottawa with developers in Thailand; agencies with design and support teams there; importers in the Prairies and Ontario buying from Thai manufacturers; Indo-Canadian, Filipino-Canadian and other diaspora-owned businesses with suppliers and staff back home. Storspay is operated by StorsApp Inc., a federally incorporated Canadian company with offices in Calgary and New York.

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.

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

Is the CAD rate mid-market too?

Yes. The calculator shows 1 CAD in baht at the mid-market rate; the 1% is on its own line.

Can I pay from a Canadian bank account directly?

You fund your Storspay balance from your bank account (Interac or EFT, free) and pay from the balance. Funding usually credits the same business day.

Does the recipient need to know I paid in CAD?

No. They receive baht; the receipt shows the CAD amount, the rate and the baht delivered.

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.