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Should I convert money to Baht before using Wise App to transfer for my retirement visa requirements in Thailand?
Jun 30, 2025
10 months ago
Tom *********
ORIGINAL POSTERHello Group. I’ve seen a variety of posts regarding the setting up of a bank account and depositing the 800,000 Baht required for retirement visa. But my question is this, if transferring funds via the Wise App. Should I exchange the amount into Baht first and then transfer or just transfer the foreign equivalent and let the bank calculate the exchange rate ?
Am just wondering what charges would apply for either or both options.
Thank You 😊
Am just wondering what charges would apply for either or both options.
Thank You 😊
TLDR : Answer Summary
The post discusses whether to convert funds to Thai Baht before using the Wise App for transferring money needed for a retirement visa in Thailand. Commenters suggest various approaches, including letting Wise handle the conversion automatically, transferring in the original currency, and considerations about banking fees and regulations regarding the transfer process.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
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Nirut *********
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Kool *******
Transfer that amount in by doing a SWIFT transfer. This gives you an easy to get FET, foreign exchange transaction, form that you'll need if you ever want to take that much back out of the country easily, much simpler than the multiple of Wise transfers needed.
Nongnuch ********
send the money in your home currency to WISE, and let them handle the last step. They will transfer Thai Baht to your Thai bank account. When using WISE, make sure the transfer is coded as coming from abroad in your Thai bankbook. Just tick the box in the WISE webseite "Funds for long term stay in Thailand" this will do the trick
Tommy ********
Wise will do it automatically for you. If you convert yourself or let Wise auto convert it doesn’t make any difference.
Peter *********
Use an agent ..
Mick **********
Just deposit money in your wise account then send it to your thai account. It's that simple no need to convert it within your wise account
Tom *********
ORIGINAL POSTER@Mick *********
thanks Mick.Nongnuch ********
@Tom ********
. . . . . . . Mick Schumann . . . .you don't need a WISE account. You only need to be registered as a user of WISE. When transferring money to your Thai bank account, you just send the money to the WISE account in your home country currencyMick **********
@Nongnuch *******
if you're a registered user then you have an accountNongnuch ********
@Mick *********
but you don't have a bank account with WISE, like people have who got a WISE debit card for the multi-currency WISE account . . . . . . . . You just have an registered "account" with them, not a "bank account" . . .you wrote "Just deposit money in your wise account" and that is WRONG !!! You don't have to deposit any money in your WISE account, You just have to transfer money into the WISE account as a registered userMick **********
@Nongnuch *******
chap you clearly cannot read.I never said it was a bank account. I called it an account. And transferring money into means your making a deposit. But clearly you're a word smith who feels he has superior knowledge . However I stand by my comments and don't need to use capitals to make my pointNongnuch ********
@Mick *********
you said "put money into your WISE account" - it clearly implies that you got a bank account with WISE. If you meant "using WISE", the correct wording must be "transfer money to the WISE account". The "your" is missing. I am not a wordsmith, I wish people who have absolutely no idea of what they are talking about should not hand out wrong advice in this groupMick **********
@Nongnuch *******
chap as someone who's been using wise for 7 years and transferring money on a monthly basis my advice Is 100% correct. I have an account at my local garage it doesn't imply its a bank account. It's your interpretation. You clearly cannot read as you quote me as saying "put money into your wise account." I didn't say put . Stop being a 🔔 end and read before you speakNongnuch ********
@Mick *********
You sentence could be misinterpreted, that's why I insist to correct you. "Just deposit money in your wise account then send it to your thai account" . . . . . . one more time, the last time: You don't need an account with WISE in order to use WISE to transfer money to your Thai bank account. You just need to be a registered userMick **********
@Nongnuch *******
you clearly have no understanding of wise. You use it's services, then you have an account. That's a simple fact . But you clearly know better than it's millions of customers. I suggest you check the wise website . You cannot send money without having an account. 🎣🎣🎣Nongnuch ********
@Mick *********
"You cannot send money without having an account" . . . . why are you still arguing? I don't need a WISE bank account to send money to my Thai bank account using WISE. I just have to be a "registered user". I transfer money from my home country bank account to the Belgian bank account that belongs to WISE (and NOT to "my wise account") and WISE will take care of the last stepNongnuch ********
I have met some really daft people during my life. But the experience here with this guy, it beats everything. Daftness and stubborness from someone who is obviously illiterate. He cannot see the difference between "your account" and "their account" . . . . .He can't even express himself in correct English. The laughing icons are a reminder that he ran out of valid arguments. . . . . . Well I shall leave it to others to decide who is in the right. I got my own visa-advice group and the many thanks I receive every other daymake me proud
Nongnuch ********
@Mick *********
I am using Wise since the times when it was called Transferwise and I needed to transfer money to their Irish bank account. I don't have an "account" with WISE. I am just a registered user. So I do not "Just deposit money in my wise account then send it to my thai account". Unfortunately your wording implies that one needs a Wise bank account. What I said was that you don't neccessarily need a bank account with WISE in order to send money through WISE. . . . . . . . Myself, for example, I transfer money from my home bank account to the Belgian bank account which belongs to WISE, and they transfer it on onto my Thai bank account . . that's a difference from what you commented. However you seem not to have the wits to see through the logicReply to
Nongnuch ********
Reply
Stuart ***********
I think it is cheaper if you change it into Baht before sending it to your Thai bank account. I'm not an expert, someone will correct me of that's not true.
Nongnuch ********
@Stuart **********
I am the someone who needs to correct you. If you do a direct transfer from your home bank to your Thai bank account, and ask them to exchange into THB before transferring, it will cost you a sh---load of money. It's better to use WISE, transfer the money to the WISE account in your home currency, and WISE will send the money in Thai Baht to your Thai bank account at a very good exchange rate, fees already deducted. An exchange of cash at Superrich in Thailand would get you an only marginally better resultStuart ***********
@Nongnuch *******
I am talking about converting the currency in the Wise app before sending it, not using a different bank. Is that still more expensive?Richard ********
@Stuart **********
You can do the homework yourself using the WISE app, and not rely on random people.Set up the transfers and you will see the amounts that would be finally paid into your Thai account.
I did it recently.
Converting to THB inside of WISE to a WISE THB account before transferring to a Thai bank came out marginally better after charges than sending GBP.
However, that's based on just a couple of transactions and hardly statistically significant.
I expect that WISE tries to minimalise the arbitrage and there will never be a significant difference.
Let us know the results....
Just did it.
If you want THB 20k in the Thai account, it will currently cost GBP 452.12 via a WISE THB account, and 451.99 directly to a Thai bank.
13 pence cheaper going directly.
Or 0.03%
Tom *********
ORIGINAL POSTER@Richard *******
thanks Richard. That was exactly what I was asking in terms of charges. My question was, is it better to move via Wise or directly from my Bank as an international bank transfer. Seems the question got hijacked somewhat 🤣🤣Stuart ***********
@Richard *******
I do this. Does it include any charges the Thai bank might add for converting the currency if you send gbp?Richard ********
@Stuart **********
If you are using WISE then they send THB to your account.There are no recipient charges for this.
Reply to
Richard ********
Reply
Tom *********
ORIGINAL POSTER@Nongnuch *******
thank youReply to
Tom *********
Reply
Kevin *********
@Stuart **********
wise will convert for you at the best exchange rate and lowest commission as far as I know. Been using it many timesTom *********
ORIGINAL POSTER@Stuart **********
thanks Stuart, yeah that was the point of the question. I’ve seen the charge for converting in Wise. But didn’t know what rate the bank would convert it at and or charge for the transfer. I can always just ask them once I open the account for clarity, but the knowledge of the group is always a bonus to have beforehand.Stuart ***********
@Tom ********
I took the advice of the group previously and change the currency before transferring. Always a good idea to check.Reply to
Stuart ***********
Reply
David *******
You can open a foreign currency bank account at Bkk bank.Transfer in your currency.
Change to bahts at will.
Change to bahts at will.
Tom *********
ORIGINAL POSTER@David ******
thanks DavidReply to
Tom *********
Reply
Brian ***********
Let Wise do it :-)
Tom *********
ORIGINAL POSTER@Brian **********
thanks Brian. So do I read that as just transfer the amount in foreign amount straight to the account ?Brian ***********
@Tom ********
we set up a foreign currency account, you can then leave the *****
0 in your home country currency. :-)Tom *********
ORIGINAL POSTER@Brian **********
ok thanks again. Gives me some options. 😊Reply to
Tom *********
Reply
Brian ***********
@Tom ********
when I transfer from UK pound, wise tell me exactly what will deposited in my Thai account. Much cheaper than the bank doing it :-)Tom *********
ORIGINAL POSTER@Brian **********
ah ok, yeah that was what I was thinking, but wasn’t sure if I’d then get a further charge to transfer it. Thought I’d ask the group for their advice. Much obliged to you.Reply to
Tom *********
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