The short answer

Paying an overseas supplier from Thailand usually means a SWIFT payment from your Thai bank. Bank fees are small — Krungsri charges ฿350 online or ฿500 at a branch, plus extra if you pay all foreign fees (OUR). For larger payments, expect to provide supporting documents such as invoices — Krungsri asks for them from US$200,000. The biggest cost is the exchange rate, so compare your bank's rate with a specialist such as Vita Capital. If you pay in foreign currency regularly, hold it in an FCD account, and use forward contracts to fix the cost of future orders. Agree clear payment terms, use escrow for new suppliers, and never change a supplier's bank details without confirming by phone.

What a Thai bank charges to pay a supplier abroad

Krungsri's published fees for outward international payments, as an example. Other banks' fees differ.

Krungsri International Payment tariff effective 1 July 2026. The exchange-rate margin is separate, built into the rate.

How to pay a supplier abroad

1. Check the invoice — supplier name, bank, SWIFT code, account number or IBAN, currency and amount.
2. Confirm the bank details — especially for a new supplier or any change, by phone on a number you already have.
3. Choose the currency route — pay from baht, from an FCD account, or through a specialist FX provider.
4. Choose the charge option — SHA (shared) is most common; OUR if the supplier must receive the full amount.
5. Add a clear reference — the invoice or purchase order number.
6. Prepare documents — invoices, contracts or import documents for larger payments.
7. Approve and send — with two approvers for larger amounts.
8. Send the supplier the payment confirmation — including the tracking reference (UETR) if available.

Getting a better exchange rate

Every time baht is converted to pay a supplier, the bank applies its exchange rate — and the difference between that rate and the mid-market rate is a cost to your business. Reported margins at banks range from around 1% to 3.55%. On US$100,000 of supplier payments, that's US$1,000 to US$3,550; on US$1 million a year, US$10,000 to US$35,500.

Ways to pay less

• Compare quotes — ask a specialist FX provider for a rate on your next payment and compare it with your bank's.
• Pay larger, less frequent amounts — batching can improve rates and reduce fees.
• Use an FCD account — convert when the rate is good and pay suppliers from the balance.
• Match income and costs — if you earn dollars, use them to pay dollar suppliers without converting.
• Negotiate your rate — businesses with regular volumes can often get better pricing.

Paying in different currencies

US dollars

The most common currency for international trade, used well beyond the US — many suppliers across Asia invoice in dollars.

Chinese yuan

China is Thailand's largest trading partner, with US$91.5 billion of trade with Thailand in the first half of 2026. Many Chinese suppliers accept US dollars, while some prefer or offer better prices in yuan. Ask your supplier which currency they prefer, and compare the total cost both ways.

Japanese yen

Japan is Thailand's second-largest FTA trading partner. Note that some fees on yen payments are percentage-based — Krungsri charges 0.05% (minimum ¥5,000) for the OUR option on yen.

Euros and pounds

For European and British suppliers — machinery, food and drink, specialist goods and services.

Baht

Some suppliers will invoice in baht. That moves the currency risk to them, but they may build a margin into the price — so compare.

Where to start

Better rates and fixed costs on supplier payments — and the right cover for your goods and business.

Your bank or a specialist?

Most businesses use both — a Thai bank for everyday banking, and a specialist for converting larger or regular amounts.

A general guide based on Vita Capital's published corporate services and typical Thai bank offerings. Services vary.

Budgeting the full cost of an import

The price on the supplier's invoice is only the start. To price your products properly, work out the full "landed cost" of each order — everything it takes to get the goods into your warehouse:

• The goods — the invoice amount, converted at the rate you actually pay.
• The exchange-rate margin — the hidden cost in the conversion.
• Bank fees — sending fees and any OUR charges.
• Freight and insurance — shipping the goods and insuring them in transit.
• Import duties and taxes — depending on the goods and their origin; free trade agreements can reduce duties on goods from partner countries.
• Customs clearance and local delivery — brokers, port charges and trucking.

Currency is often the most volatile part of the calculation. Fixing the rate with a forward contract when you agree the order turns that uncertainty into a known number, so your landed cost — and your margin — is clear from the start.

Building a supplier payment calendar

Businesses that pay suppliers abroad every month benefit from a simple payment calendar:

1. List your suppliers — with their currency, usual order size and payment terms.
2. Map the next three to six months — when each payment is due and in what currency.
3. Total by currency — so you can see how many dollars, yuan, yen or euros you'll need and when.
4. Decide how much to fix — many businesses fix part of their known payments with forward contracts and leave the rest flexible.
5. Set target rates — with limit orders, so currency is bought automatically if the market reaches your level.
6. Review monthly — update the calendar as new orders are agreed.

A specialist FX provider can help you build and manage this. Vita Capital's corporate team works with businesses to plan payments, fix rates and use limit orders, with a dedicated relationship manager and market insights along the way.

Fixing your costs with forward contracts

When you agree an order today but pay the supplier in 60 or 90 days, the exchange rate can move against you in between — turning a profitable order into a loss. A forward contract fixes today's rate for a payment you'll make later, so you know exactly what the goods will cost in baht.

How it works

1. You agree an order — for example, US$80,000 payable in 90 days.
2. You book a forward — fixing the rate for US$80,000 in 90 days.
3. On the day — you pay the agreed baht amount and the supplier receives US$80,000, whatever the market has done.

Why businesses use them

• Price with confidence — set your selling prices knowing your costs.
• Protect your margin — currency moves can't wipe out your profit.
• Budget accurately — no surprises in your monthly accounts.

The trade-off is that if the rate moves in your favour, you don't benefit on the amount you've fixed. Many businesses fix part of their expected payments and leave the rest flexible. Our section on corporate FX and risk will cover forwards and budgeting in more depth.

Paying from an FCD account

A foreign currency deposit (FCD) account at your Thai bank lets you hold dollars, euros, yen and other currencies — and pay suppliers directly from them. It's especially useful if:

• You earn foreign currency — and can pay suppliers without converting twice.
• You want to choose when to convert — buying currency when the rate is good.
• You pay suppliers often — keeping a balance ready to go.

Check the charges: Krungsri, for example, applies a commission of 0.125% (minimum ฿1,000) when foreign currency is withdrawn from an FCD account to send abroad. Since January 2026, Thai residents' foreign-sourced funds under US$10 million also no longer have to be brought back to Thailand, so some businesses keep foreign income abroad to pay foreign suppliers directly — ask your accountant how this applies to you.

Documents for supplier payments

Thai banks need to know why money is leaving the country, especially for larger amounts. Krungsri, for example, asks for supporting documents for outward transfers equivalent to US$200,000 or more, and for some purposes at any amount. For supplier payments, keep ready:

• The supplier's invoice — showing the goods or services, amount and currency.
• The purchase order or contract.
• Import documents — such as the bill of lading or customs declaration, where relevant.
• Proof of the supplier's bank details — ideally on the supplier's letterhead.

Good records also help your accountant and make any later query from the bank quick to answer. Our guide to opening business banking relationships explains how to keep your bank on side.

Agreeing payment terms with suppliers

How and when you pay is as important as how much. The main options:

Payment in advance

You pay before goods are shipped. Simple for the supplier, but you carry the risk if goods don't arrive. Common with new relationships and smaller orders.

Deposit and balance

A deposit — often a percentage of the order — up front, with the balance on shipment or delivery. A common middle ground.

Open account

Goods are shipped and you pay later, for example within 30 or 60 days. The best terms for your cash flow, usually earned through an established relationship.

Letters of credit

Your bank guarantees payment once the supplier presents agreed shipping documents. Strong protection for both sides on larger orders.

Escrow

Your payment is held by a neutral party and released when agreed conditions — such as confirmed shipment or delivery — are met. Ideal for new suppliers and larger orders. Vita Capital offers corporate and trade escrow; our section on trade and transaction security will cover it in detail, and our guide to business and trade escrow explains how it works.

Protecting against supplier payment fraud

The most common fraud against importers is simple and effective: a criminal intercepts or imitates a supplier's email and sends "updated" bank details. The payment goes to the fraudster, and the real supplier is never paid. Protect your business:

• Never act on changed bank details by email alone.
• Call the supplier to confirm — on a number you already have, not one in the email.
• Check the account name — it should match the supplier's company name.
• Be wary of urgency — pressure to pay quickly is a warning sign.
• Use two approvers for new payees and larger amounts.
• Secure your email — strong passwords, two-factor authentication and a VPN on public Wi-Fi.
• Use escrow for first orders — so money moves only when conditions are met.

Common problems and how to avoid them

The supplier receives less than the invoice

Intermediary or receiving banks have deducted fees. If the supplier needs the full amount, send with OUR — at Krungsri, an extra ฿800 for dollars — or agree in advance who bears the fees.

The payment is returned

Usually because the account name, number, IBAN or SWIFT code is wrong. Double-check against the supplier's official details, and expect an amendment or return fee — Krungsri charges ฿500 or US$20 to amend or cancel.

The bank asks questions

For larger payments, have the invoice, purchase order and import documents ready so the payment isn't held up.

The rate moved before you paid

If you agreed the price weeks ago, a currency move may have raised your cost. A forward contract booked when the order is agreed prevents this.

Paying the wrong currency

Make sure the payment currency matches the invoice and the supplier's account — converting twice costs money.

Tips for smaller businesses

You don't need to be a large importer to benefit from managing supplier payments well. Small businesses — a café importing coffee, an online shop buying stock from China, a design studio paying freelancers abroad — can save meaningfully by sending online rather than at a branch, comparing rates on larger payments, grouping smaller invoices together, and fixing the rate on a big seasonal order. As volumes grow, a specialist FX relationship becomes even more valuable.

Three real-world examples

These are illustrations, not real businesses.

A Bangkok furniture importer buying from China

The company pays Chinese suppliers about US$80,000 a month. By comparing its bank's rate with a quote from Vita Capital, and booking forward contracts when orders are agreed, it now knows its landed costs before it sets prices — and saves on the margin every month.

A Pattaya restaurant group buying European produce

The group pays French and Italian suppliers in euros. It holds euros in an FCD account, topping it up when the rate is good, and pays invoices from the balance.

A Chiang Mai manufacturer's first order from a new supplier

For a first US$150,000 machinery order from an unfamiliar supplier, the manufacturer used escrow: funds were released only once shipping documents were confirmed.

Your supplier payment checklist

• Supplier bank details confirmed by phone.
• Invoice, purchase order and currency checked.
• Charge option (SHA or OUR) agreed.
• Rate compared with a specialist's quote.
• Forward contract booked for future payments, if needed.
• Documents ready for larger payments.
• Clear reference on the payment.
• Two approvers for new payees and large amounts.
• Escrow considered for new suppliers.
• Payment confirmation sent to the supplier.

Questions to ask your bank and FX provider

1. What are your fees for sending online and at a branch?
2. What does it cost to pay all foreign fees (OUR)?
3. What exchange rate will we get, and how does it compare with mid-market?
4. Can you fix a rate for a future payment?
5. Which currencies can you pay in — including yuan and yen?
6. What documents do you need, and at what amount?
7. Do you offer escrow for new suppliers?
8. Will we have a dedicated contact?

Top tips

• Focus on the rate — it costs far more than the fee.
• Send online — it's cheaper than at a branch.
• Fix costs with forwards when you agree an order.
• Use an FCD account if you pay foreign currency regularly.
• Match currency income and costs.
• Keep your documents ready.
• Use escrow for new suppliers and big orders.
• Always confirm bank details by phone.

How we researched this guide

This guide draws on Krungsri's International Payment tariff (effective 1 July 2026) and SWIFT remittance terms; MGR Online's report on Thailand's trade with FTA partners in the first half of 2026 (August 2026); Wise's review of UK bank margins (August 2026); Baker McKenzie on Thailand's repatriation exemption (February 2026); and Vita Capital's published corporate services. Checked 14 October 2026. Fees and rules change; confirm current terms with your bank and take advice from your accountant. This guide is general information, not financial or legal advice.