To open a corporate bank account in Thailand, a company presents its DBD certificate, a board resolution naming the signatories and their identity documents, and the bank runs its own checks. Once open, the account can receive PromptPay and Thai QR transfers, which usually carry little reference data and must be matched to invoices by hand.
Thai banks open a corporate account only after they have verified the company, and the paperwork is more demanding than for an individual. Expect to present a recent company certificate from the DBD, the memorandum and articles, the list of shareholders, a board resolution that authorises the account and names who may sign, and identity documents for each signatory. Banks also want proof of the registered office and a description of what the company does.
The checks apply to the people behind the company as well. Foreign directors are generally asked for a passport and, where relevant, a work permit, and the bank may request evidence of where the funds come from. Plan for more than one visit, and for the possibility that the branch asks for additional papers after its compliance team reviews the file.
Decide the signing rules before you go. A two-signature rule slows daily payments but protects the company, while a single authorised signatory is quicker but concentrates risk. The rule is set in the board resolution, and changing it later means new paperwork.
PromptPay links an account to a national ID, a tax ID or a mobile number, and Thai QR Payment lets a customer scan a code from a banking app to pay. For a business this means customers pay instantly and without cards, which suits shops, service firms and B2B buyers alike. A company can register its tax ID with PromptPay at its bank to receive transfers under the company name.
The convenience has a cost for bookkeeping. A transfer arrives with the payer’s name and a short note field, and customers rarely type your invoice number. Several customers may pay on the same day, one customer may pay two invoices with a single transfer, and some payers send a rounded amount that does not equal the invoice.
That is why the matching step deserves a routine rather than being left to whoever has spare time. If it is skipped, the receivables list shows invoices as unpaid that were settled weeks ago, and chasing a customer who has already paid is awkward and costly to the relationship.
Download the bank statement for the account at a fixed interval, weekly for busy businesses and monthly at minimum. For each credit, find the invoice by amount first and by payer name second, and write the invoice number next to the line in your working file. Where one transfer covers several invoices, note each allocation so that the audit trail is clear.
Treat unmatched credits as a list to be resolved within days. A transfer that cannot be tied to an invoice might be an advance payment, a refund, a payment for a company in the same group or a mistake by the payer, and each is handled differently in the books. Leaving them in a suspense line for months makes the year-end clean-up painful.
Agree a shared convention with customers to reduce the work: ask them to put the invoice number in the transfer note, print a Thai QR on the invoice if your bank supports it, and state the exact amount payable including VAT. Those three habits remove most of the ambiguity.
Thai business customers often pay near the end of the credit term, and a polite reminder shortly before and shortly after the due date speeds collection without damaging the relationship. Keep the tone factual: invoice number, amount, due date and how to pay.
Write the reminder text yourself and keep a record of when it was sent and what the customer replied. A note in the customer file about promised payment dates is often more valuable than the reminder itself, because it lets the next person pick up the conversation.
If a debt stays unpaid, the next steps are a formal demand letter and, eventually, legal advice. Those steps depend on the contract and the facts, so involve a lawyer rather than relying on a template.
4invoices can produce PDF invoices and hold them in an archive, which gives you the invoice numbers and amounts to match against the statement. 4notify can send an SMS or e-mail from your account when you decide to remind a customer. Both are manual tools in this context.
Neither product connects to a Thai bank or to PromptPay, imports statements, matches payments or sends reminders on a schedule. The reconciliation itself, and any decision to chase a debtor, stays with your finance team and accountant.
Separate the person who issues invoices from the person who reconciles receipts whenever staffing allows it. When one employee both creates a receivable and clears it, errors and fraud are harder to spot. In a three-person company, the director can review the monthly reconciliation and sign it, which creates a record that somebody independent looked.
Limit who can see the online banking credentials and who can approve outgoing transfers. Bank tokens and approval limits are the cheap, effective controls, and a lost phone with a banking app on it is a more realistic risk than a sophisticated attack.
Finally, keep the monthly bank statements even though the bank stores them online. An auditor or the Revenue Department may ask for statements covering several years, and a bank can charge a fee or take time to reproduce old ones.
PromptPay transfers carry no invoice number, so the accounts team matches them one by one.
Match PromptPay transfers to open invoices yourself, using the bank statement and the invoice number. 4invoices does not connect to banks or PromptPay and does not import statements or match payments automatically.
Chasing debtors depends on whether the team has time, stretching collection days.
Send reminders to late payers by SMS or e-mail from your 4notify account, with text you write. They are not sent automatically by debtor ageing.
Customers pay two invoices in one transfer and the accounts team cannot tell which ones were settled.
Record the allocation of each transfer against the invoice numbers in your working file, and tell the customer which invoices were closed. The system does not read the bank statement or split payments for you.
Usually yes, once the DBD certificate is issued, but banks run their own checks and may take days or weeks. Bring the certificate, articles, shareholder list, board resolution naming the signatories and identity papers for everyone who will sign. Foreign directors should expect to show passports and sometimes work permits, so ask the branch for its exact document list first.
Ask your bank to register the company tax ID, or a mobile number linked to the corporate account, as a PromptPay proxy. Customers then transfer to that identifier, and many banks can also print a Thai QR code for your invoices. Confirm with the bank whether corporate PromptPay has any limits or fees for your account type.
Match it first by amount and then by payer name, and check whether one transfer covers several invoices or an advance. If you cannot tie it, post it to a suspense line and ask the payer. Do not leave the item unresolved for months, because it distorts the receivables list and the year-end accounts.
It is better not to. Receipts to a personal account are mixed with your own money, are not recorded as company revenue and make the books unreliable. Use a corporate account only, so every receipt can be traced to an invoice and shows up in the company statements the auditor and the Revenue Department may ask for.
PDF invoices and SMS or e-mail from your account; matching is done from your bank statement.
