December 25, 2025
A Christmas Gift for Merchants: Faster T+1 Settlement with ChillPay
To help businesses operate more efficiently in the digital era, ChillPay continues to enhance its services and payment infrastructure. As part of our commitment to supporting merchant growth, we are pleased to announce an upgrade to our merchant settlement service, expanding T+1 Settlement coverage across most major banks in Thailand.
This enhancement is designed to provide merchants with improved cash flow, faster access to funds, and greater financial flexibility to support daily business operations.
A New Standard for Faster Merchant Payouts
Previously, T+1 Settlement was available only to a limited group of merchants and banking partners. With this latest upgrade, ChillPay now supports next-business-day settlement (T+1) for accounts held with the majority of leading banks in Thailand.
This means merchants can receive their funds faster than before, reducing waiting times and enabling quicker reinvestment into inventory, operations, and business growth.
Benefits of the Upgrade
- Receive Funds Faster: Settlement cycles have been reduced from T+2 to T+1 for participating banks.
- Broader Coverage: Most major banks in Thailand are now included in the T+1 Settlement program.
- Improved Cash Flow Management: Merchants can better plan expenses, inventory purchases, and working capital needs with predictable payout schedules.
Updated T+1 Settlement Bank Coverage
ChillPay has upgraded settlement cycles for the following banks:
| Bank Name | Previous Cycle | New Cycle |
|---|---|---|
| KASIKORNBANK (KBank) | T+1 | T+1 |
| Bangkok Bank | T+2 | T+1 |
| Krungthai Bank | T+2 | T+1 |
| TMBThanachart Bank (ttb) | T+2 | T+1 |
| Siam Commercial Bank (SCB) | T+2 | T+1 |
| Citibank N.A. (Bangkok Branch) | T+2 | T+1 |
| Sumitomo Mitsui Banking Corporation | T+2 | T+1 |
| Standard Chartered Bank (Thai) | T+2 | T+1 |
| CIMB Thai Bank | T+2 | T+1 |
| United Overseas Bank (UOB) | T+2 | T+1 |
| Bank of Ayudhya (Krungsri) | T+2 | T+1 |
| Indian Overseas Bank | T+2 | T+1 |
| Government Savings Bank | T+2 | T+1 |
| HSBC (Bangkok Branch) | T+2 | T+1 |
| Deutsche Bank (Bangkok Branch) | T+2 | T+1 |
| Government Housing Bank | T+2 | T+1 |
| Bank for Agriculture and Agricultural Cooperatives (BAAC) | T+2 | T+1 |
| Mizuho Bank (Bangkok Branch) | T+2 | T+1 |
| BNP Paribas (Bangkok Branch) | T+2 | T+1 |
| Bank of China (Thai) | T+2 | T+1 |
| Islamic Bank of Thailand | T+2 | T+1 |
| TISCO Bank | T+2 | T+1 |
| Kiatnakin Phatra Bank | T+2 | T+1 |
| ICBC (Thai) | T+2 | T+1 |
| Thai Credit Bank | T+2 | T+1 |
| Land and Houses Bank | T+2 | T+1 |
| SME Development Bank of Thailand (SME D Bank) | T+2 | T+1 |
Important Information
Effective Date
The upgraded T+1 Settlement service becomes effective on December 25, 2025.
Account Conditions
Certain account types, such as fixed deposit accounts or accounts with specific banking conditions, may affect the time required for funds to appear in the destination account.
Business Day Calculation
T+1 Settlement is calculated based on banking business days only and does not include Saturdays, Sundays, or public holidays.
Supporting Business Growth Through Faster Payments
This enhancement reflects ChillPay’s commitment to helping merchants improve financial efficiency and maintain healthy cash flow. Faster settlement cycles enable businesses to access revenue sooner, making it easier to manage operations and seize new growth opportunities.
We hope this upgrade serves as a valuable year-end gift to our merchant partners and contributes to your continued success in the years ahead.
For additional information, please contact your Account Manager or the ChillPay Customer Support team during business hours.
Merry Christmas and Happy Business Growing!
The ChillPay Team
FAQ
What is ChillPay T+1 Settlement?
ChillPay T+1 Settlement is a payout service that allows merchants to receive funds within one business day after payment transactions have been successfully processed.
Which banks support ChillPay T+1 Settlement?
The upgraded T+1 Settlement service now supports accounts at most major banks in Thailand, providing faster and more efficient merchant payouts.
When does the new T+1 Settlement service take effect?
The upgraded T+1 Settlement service officially takes effect on December 25, 2025.
How does ChillPay T+1 Settlement benefit merchants?
T+1 Settlement improves cash flow, reduces payout waiting times, and helps merchants manage working capital more efficiently.
Does T+1 Settlement include weekends and public holidays?
No. T+1 Settlement is calculated based on banking business days only and excludes weekends and public holidays.
