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Is Wise the best option for transferring money to Thailand, considering its fees and exchange rates?
Nov 26, 2025
5 months ago
Paul ********
ORIGINAL POSTERmorning all, still on the question of wise for transferring money over , so if I input 800,000 baht it's giving my an exchange rate of 42.7 and have to send £19,758 pounds, and it's saying charges £120, so I've looked at the comparison list and they are more money to pay in to get less out, if that makes sense, I still think it's expensive, what do you guys think, any suggestions, thanks
TLDR : Answer Summary
The user is inquiring about the costs and exchange rates associated with using Wise for transferring money to Thailand, expressing concerns about perceived high fees and exchange rates. Several commenters provide insights, noting that while Wise may have higher fees, it offers reliable exchange rates that may lead to more Thai Baht received. Others suggest comparing different services and highlight the importance of total funds received rather than just fees. Overall, the conversation suggests that while fees vary, the exchange rate efficiency of Wise may justify its use for expats transferring money.
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Dave ********
If you dont like it, find an alternative you do like
Michael *******
Have used Wise for years. Fast, accurate and reliable. Highly recommend
Never an issue.
Never an issue.
Dave *********
But on wise interest for a while will earn you something to go against transfer costs
Barney ***************
Bank transfer is slower with a poorer exchange rate and so you would get significantly less money in your account and have to wait longer for it too. I'm just not sure if Wise is marking funds as International transfer currently which you need to show in your Thai account for visa purposes.
Nick ************
@Barney **************
my transfers from UK to Bangkok bank all showing as international.Barney ***************
@Nick ***********
good to know cos I'm moving over in January 😁 is there a tag on the reason for transfer to mark it as International ?Nick ************
@Barney **************
yes I asked Wise to tag my account. Some people reported problems getting transfers marked correctly and recommend Kasikorn but mine have all been ok for 21 months.Barney ***************
@Nick ***********
good to know ... thanks 🙏Reply to
Barney ***************
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Tony **********
@Barney **************
thus is highly bank dependent and also depends on what currency you transfer in.Reply to
Tony **********
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Jesper *******
U can compare all transfer funds services....my home bank charge me 0 fees but lousy rates....I get more thai baht after paying fees with Wise
Tony **********
@Jesper ******
send in your home currency and let Thai bank convert. I seem to get mid-market rates doing it that wayJesper *******
@Tony *********
I've always use Wise as there's clarity of fees and information of amount received in thai bank and date of arrival of fundsTony **********
@Jesper ******
SWIFT is flat rate so (unlike Wise) larger amounts are lower cost. My monthly transfer used to average about $26 in fees from wise (small amounts like ฿70-฿100k). Large amounts like ฿800k would be excessive. It costs me flat rate of $15 to send via SWIFT regardless of amount. Always send in USD and I usually get near mid-market rate from Thai bank.Jesper *******
@Tony *********
each to its own ..I have a different situation my home bank offers 0 fees but lousy rates meaning the more I'm sending the more I'm losing out in thai bahtTony **********
@Jesper ******
why don't you send in your home currency?Paul ********
ORIGINAL POSTER@Tony *********
I don't know, is it best to send in pound or baht, it's just another problem I have,Tony **********
@Paul *******
for me. I found sending in USD and letting Thai bank convert to THB got me mud-market rates (mid closing the day before).Jesper *******
@Tony *********
I'm already sending in my home currency and received thai bahtReply to
Jesper *******
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Tony **********
In my usa Schwab account SWIFT transfers are $15. SWIFT from my credit union is $60. Your cost seems very high to me.
Todd *********
@Tony *********
it’s not the fee that matters. It’s the exchange rate.Tony **********
@Todd ********
it's both. I seem to get mid-market rate when sending in USD. If I send in THB is horrible.Reply to
Tony **********
Reply
TG *********
@Tony *********
Can you do a SWIFT transfer with Schwab via the app or do you have to call?Tony **********
@TG ********
web site, not the app. You can call, but then the cost goes up to $25.Reply to
Tony **********
Reply
Kim ********
@Tony *********
I want to set up a schwab account just to make transactions easier and less expensive. Can you recommend an account just for that purpose?Tony **********
@Kim *******
standard investment account. Give them a callReply to
Tony **********
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Nigel *******
I am about to do the same, but my conversion is nearly a thousand pounds lower than yours. Have you put a 9, instead of an 8?
Paul ********
ORIGINAL POSTER@Nigel ******
no definitely 800,000 baht, I'll just have to bite the bullet and make a decision, it's a shame you can't just go into the bank a put down cash,Ivan ************
@Pa**
you're doing something wrong, as it won't cost £19,758. The exact amount changes constantly with the exchange rate, but it's almost £1,000 lower than the number you are saying, I checked and it's giving me £18,848. The Where are you getting the idea it's going to cost £19,758? I think you must have meant £18xxx, no? The £120 fee is reasonable, the exchange rate is the midmarket rate which you can't get better than. What comparison list are you looking at that suggests you can get better?Peter ****************
Nigel *******
@Paul *******
I meant on the pounds figure, my conversion from wise was £18,752. I was hoping for at least 43 baht to the pound.Ivan ************
@Ni***
it was 43 a month ago. If you wait it could go back to that. It could also get worse. No way to know, if anyone did know they could make a lot of money on it.Reply to
Ivan ************
Reply
Danny *******
So 0.60% ? It’s best possible on the market , check bank to bank and it will be more like £600-800 minimum
Paul *******
Expensive iss relative. In the past when I have wanted to move, say, $10,000 from my Australian bank to my Thai bank, I have looked at a number of options. It is no good looking at the cost alone. I always choose the option that puts more Thb into my Thai bank. Although Wise has a higher charge, the exchange rate Wise uses is good for me, so I finish up with more Thb in my Thai bank.
Brandon ************
I'm not sure what your question is. You have the ability to go to other services and compare.
Wise gives you the exact amounts up front. Many other services let you send an amount but you'll not know the exact amount that goes into your bank account until it's there.
Wise gives you the exact amounts up front. Many other services let you send an amount but you'll not know the exact amount that goes into your bank account until it's there.
Reply to
Brandon ************
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