Storspay vs Wise Business for paying Thailand: rate, fees, batches and who can actually sign up

Short answer. On a single payment to Thailand, Wise Business and Storspay land within a fraction of a per cent of each other — both use a mid-market rate and both charge around 1% — so the choice is not about the rate. It is about whether you can open the account (platforms, agencies and anyone paying third parties are often refused), whether you can pay a whole team in one batch from one balance, whether that balance also pays Nigeria, Kenya, Ghana and Mexico, and whether every payment produces a receipt with your invoice reference.

Where they are the same

Both convert close to the mid-market rate, both show the fee before you confirm, both deliver baht to Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank fast. If you are one company paying one developer in Thailand once a month, either will do the job and you will pay about the same.

Where they differ

Wise is a good product and for a one-to-one payment it is a fair comparison. Storspay is built for the business that pays a team, a supplier list or a marketplace's sellers in Thailand and in Africa or Latin America, from one balance, with the paperwork a finance team needs.

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 Storspay cheaper than Wise for Thailand?

On most amounts they are within a few dollars of each other. Storspay's advantage is not the rate on one payment; it is one balance, one batch and one receipt format across 30 countries.

Can a platform or agency use Storspay to pay its workers in Thailand?

Yes — that is what it is for. Platforms integrate the API; agencies use Run Payroll.

Can I move from Wise to Storspay without changing what my team does?

Yes. Your team still receives baht to the same bank accounts; only the sender changes.

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.