Doing Business in Thailand? Check Out This Guide to Opening a Business Bank Account in Thailand

Do you run a business in Thailand? Then sending money from Indonesia to Thailand quickly is likely one of your key needs. Just like doing business in Indonesia, you’ll need to open a business bank account in Thailand to simplify your financial transactions there.

Also read: Send money to Thailand at a lower cost than any other app in Indonesia.

How to Open a Business Bank Account in Thailand

Don’t worry, opening a business bank account in Thailand isn’t too difficult. Here’s what you need to know:

Required Documents

Foreign companies can open a business account at local Thai banks. The process is similar to that for local companies, but the documents you submit must be certified by the Thai Embassy in your home country. These documents include:

• A copy of the company license or registration certificate (dated within the last month)
• A formal request from the board of directors stating the application to open a business account and identifying who will be authorized to manage it
• The company’s tax ID (similar to Indonesia’s NPWP)
• Identification documents for board members, such as passports

General Steps to Open a Business Account

Once you’ve gathered the required documents, complete the application form (usually available on the bank’s website) and attend a meeting with a relationship manager at the branch of your choice. Make sure to bring both the original and certified copies of all documents.

Note that this meeting must be attended in person; it cannot be delegated. Beyond administrative reasons, your personal presentation also matters. So, be sure to attend the meeting dressed neatly, politely, and confidently to make a good impression.

Typically, it takes about one week to open a business account in Thailand. Visiting the branch in the same location as your business helps speed up the process, as opening a bank account online is not an option.

Bank Options

You can choose between a local bank and an international bank that operates in Thailand. It’s best to select a bank that offers services and products tailored to your business needs. While most banks offer similar features, each has its own advantages. Choose one that suits your operations in Thailand.

Pay Attention to Banking Fees

Always read the terms and conditions at your chosen bank, especially regarding fees for various financial transactions. These include standard banking fees, account handling charges, and international transfer fees.

Sending Money from Indonesia to Thailand

Transfer fees for sending money from Indonesia to Thailand are usually expensive. Keep in mind that banks often charge additional fees when you transfer money internationally in a different currency.

If you’re not careful with the fee structure, you may end up paying more than expected. Even seemingly small fees can add up significantly over time, which can hurt your bottom line.

As a solution, always check the actual amount you’ll be sending using an online currency converter. Or better yet, use a more affordable alternative like Transfez, an international money transfer service.

With the Transfez app installed on your smartphone, you can send money directly from your phone, no need to visit a bank. Plus, Transfez offers up to 91% lower fees compared to banks. With the support of a reliable team, transfers are completed in minutes, so your business operations in Thailand run smoothly.

Download the Transfez app now and enjoy fast, easy, and affordable money transfers from Indonesia to Thailand!

Why Use Pay by Card on Transfez?

Using Pay by Card isn’t just about convenience—it also offers exclusive advantages that other payment methods can’t match.

1. Pay Now, Settle Later – Better Cash Flow Management

Take advantage of your credit card’s grace period, allowing you to defer payments to the bank without disrupting your cash flow. This means you can keep your business running smoothly without financial constraints.

2. Earn Credit Card Rewards

Every payment you make with your credit card earns reward points, cashback, or air miles, depending on your card issuer’s program. The more you use Pay by Card, the more benefits you unlock!

3. Fast and Hassle-Free Process

No more dealing with complex international bank transfers! With Pay by Card, simply upload your invoice and pay with your credit card. Transfez will handle the rest and send the funds to your recipient.

4. Global Coverage – Pay Invoices Worldwide

Pay by Card enables payments to multiple countries, including:
Thailand
Malaysia
India
Hong Kong
Singapur
Jepang
Inggris
Jerman
Belanda
Korea Selatan
Cina (AliPay)
Prancis
Belgia
Italia

More countries will be added soon to expand your business payment options!

5. Transparent Fees – No Hidden Costs

Unlike other international payment methods that often include hidden charges, Pay by Card ensures cost transparency with:

💰 Transfez Fee – A fixed fee for international transfers.
💳 Credit Card Fee – 2% of the total payment, including the Transfez fee.

How to Use Pay by Card

Getting started with Pay by Card is simple—just follow these easy steps:

1. Enter Invoice Details – Select the destination country and enter the invoice amount.
2. Upload Invoice & Provide Recipient Information – Ensure all details are correct, including the recipient’s bank details.
3. Pay with Your Credit Card – Use any VISA, MasterCard, or JCB credit card to complete your payment.
4. Transaction Processing & Fund Transfer – Once your payment is successful, Transfez will process the transaction and transfer the funds to your recipient’s account. You can also track the payment status in real time!

Why Stick to Traditional Transfers? Pay by Card Instead!
✔ Keep your business finances flexible
✔ Take advantage of credit card rewards
✔ Make international payments seamlessly

📌 Click here to start using Pay by Card and streamline your global payments today!

Download Transfez App

Transfez App can help you transfer money abroad more quickly and efficiently. Jack Finance can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.