Make Payments and Receive Payments in THB - Thai Baht
Pay in Thai Baht (THB)
Mondial Change allows you to make international payments in THB (Thai Baht) with ease. Manage your Thai Baht beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your THB operations (a spread is applied on the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in Thai Baht (THB)
Mondial Change allows you to receive payments in THB (Thai Baht). Payments in THB are received in an account in your name with a dedicated IBAN. This THB account with a nominative IBAN is provided to you free of charge. It allows you to receive payments in THB from your clients or subsidiaries and also to hold Thai Baht. The THB can be reused to make payments in THB. The THB can also be converted into EUR or any other currency of your choice and repatriated to your bank account. The Thai Baht (THB) account can be located in France or other countries (see possible locations).
Do you want to hedge your exchange risk on the Thai Baht (THB)? Check our dedicated page for THB currency hedging.
Mondial Change Answers All Your Questions About Payments in Thai Baht (THB)
What is the timeframe for a THB payment to be credited to the beneficiary's account?
It generally takes between 1 and 2 business days for a Thai Baht transfer to be credited to the beneficiary's account. However, please note that these timeframes are not contractual, and our partners responsible for the execution and routing of payments cannot be held liable if THB payments are credited beyond 2 business days to the beneficiary's account.
What are the fees for a payment in Thai Baht (THB)?
The fees applied to transfers in Thai Baht (THB) generally range from 0 to 10 euros depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual THB exchange volume and the number of Thai Baht payments made during the year.
Are there minimum or maximum amounts for payments in Thai Baht (THB)?
Mondial Change and its partners verify that your Thai Baht flows are consistent with the data declared during account opening and consistent with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in Thai Baht (THB)?
For THB payments via the SWIFT network, you need to provide the following information:
• Full name of the beneficiary
• SWIFT/BIC code
• Account number
Is it possible to modify a payment in Thai Baht (THB) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in Thai Baht (THB) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is made through a SWIFT amendment. If the payment was not executed via the SWIFT network, then it is not possible to make such amendments, and you must wait for the payment to be returned if applicable.
Is the Thai Baht (THB) account provided to you a bank account and is it nominative?
The Thai Baht (THB) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN attached to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Thai Baht (THB) account for more information.
Is it possible to hold Thai Baht (THB) in the THB account provided to you?
You can use this Thai Baht (THB) account to receive or store Thai Baht. The funds can then be reused to issue payments in Thai Baht or be converted into other currencies. The account is also compatible for receiving THB payments from e-commerce platforms like Amazon or payment systems like Adyen or Stripe.
What are the holidays when payments in Thai Baht (THB) cannot be executed?
January 1st: New Year’s Day
Variable date (January/February): Chinese New Year (observed by some administrations)
April 6th: Chakri Memorial Day
Variable date (April): Songkran – Thai New Year (1st day)
Variable date: Songkran – 2nd day
Variable date: Songkran – 3rd day
May 1st: Labour Day
Variable date (May): Coronation Day
Variable date: Visakha Bucha (birth, enlightenment, and death of Buddha)
Variable date: Asalha Bucha
Variable date: Khao Phansa (beginning of Buddhist Lent)
July 28th: King’s Birthday
August 12th: Queen Mother’s Birthday / Mother’s Day
October 13th: King Bhumibol Memorial Day
October 23rd: Chulalongkorn Day (Rama V Memorial Day)
December 5th: King Rama IX’s Birthday / Father’s Day
December 10th: Constitution Day
December 31st: New Year’s Eve
History of the Thai Baht
The Thai Baht (THB) is the official currency of Thailand, a fascinating and culturally rich country located in Southeast Asia. The Baht is used for all transactions in Thailand, whether for commerce, tourism, or services. It is also accepted in some border areas of neighboring countries due to geographical proximity and trade exchanges.
Monetary Policy of the Thai Baht
The monetary policy of the Thai Baht is managed by the Bank of Thailand, also known as the Bank of Thailand (BOT). The main objective of the BOT is to maintain price stability and support sustainable economic growth. To achieve this, the central bank closely monitors inflation rates, foreign exchange reserves, and market fluctuations. The Thai Baht is influenced by various economic and political factors, such as exports, tourism, foreign investments, and international trade policies. Fluctuations in the Baht can be observed based on these factors, making its exchange rate sometimes volatile.
Characteristics of the Thai Baht
The Thai Baht (THB) has certain unique characteristics. Firstly, it is subdivided into 100 satangs, although satangs are rarely used in daily practice. Thai banknotes are available in various denominations, ranging from 20 to 1,000 Baht, and are beautifully adorned with historical and cultural representations of Thailand. Additionally, the Thai Baht is often considered an exotic and attractive currency for investors and travelers due to the cultural diversity and popular tourist attractions in Thailand.