Ask

Answered5 months ago

What are the recent changes to Wise for expats in Thailand and how will they affect overseas accounts?

Wise Account Thailand Banking Regulations Expat Finance Overseas Income Visa and Residency in Thailand Permanent Residency

Mark ********

OP

asked May 17, 2026

7.6k

views

62

replies

2

likes

Has anyone got the definitive changes to WISE  ?  I have an overseas WISE account and just use it to transfer $aud into baht to pay bills.

Once I'm a permanent resident in Thailand, does WISE still let me use my overseas account or will they make me get a Thai baht WISE account?

I know they're trying to get foreigners with overseas income to pay tax in Thailand. 

Thanks for any information.

Answer summary

The recent changes to Wise affect users with registered addresses in Thailand, potentially requiring them to update their account information or switch to local currency accounts. This adjustment ensures Wise complies with Thai banking regulations, which now mandate that funds from overseas must transit through the Bank of Thailand, leading to possible double conversion fees. However, users maintaining an overseas address (e.g., in Australia) may not experience changes in their service. The community also discusses the implications for expats regarding residency status, potential tax obligations in Thailand, and how banking relationships are influenced by these regulatory shifts.

62 repliesnewest first

29

Click comment and we will ask for your email, then OTP, then name.

Steve ********

Steve ********

The change is in Thai banking rules; it only impacts those whose registered address in Wise is a Thailand address. If your address in Wise is in Thailand, Wise must follow Thai banking rules on your transactions.

I am not sure of the rules changes on ATMs, but for transfers, the recent Thailand banking changes require all transactions to include a Thai bank. For example: if you are moving money from a U.S. bank to a German bank, it must go through Bank of Thailand. So it goes from U.S. bank to Bank of Thailand, then to German bank. As it goes through Bank of Thailand, it is convert to THB (with associated conversion fees), then is converted to Euro (with associated conversion fees) and sent to bank in Germany.

There is NO change for transactions directly between your Thai bank account and your foreign account (such as sending money from U.S. bank to Thai bank).

If your registered Wise address is in Thailand, you cannot change it to another country unless you provide Wise proof of residency and address in that country.

0

Yo***

Yo***

Steve Keller you may have big misunderstanding about update of your real address. If you are not really living in thailand, you do not need to update your address as you registered before. Wise knows that through VPN and DNV. which works every time you use wise app. but if you really live in thailand but registered UK Wise before, one day, you will find an update notice in your wise app. it is red color one. it says, update your address, Because they found out that you mostly live in thailand and not in UK. So they ask you for update. If you do not update it within one month, wise will close or freeze or limit your wise account to use. They know where you live through VPN, DNV, which always work when you use Wise app. Wifi, Ethernet or mobile data, that always show the country code. this is not an option but a must do, if you want to use Wise.

0

Steve ********

Steve ********

Young They use the regulations of the nation in which you live - NOT the nation from which you are requesting the transaction.

0

Steve ********

Steve ********

Young Been using them for years - never had an issue

0

Tim ********

Tim ********

The transfer from your own currency will automatically be transferred into Thai baht from beginning of August

0

Tim ********

Tim ********

You can hold any currencies in your wise account .

If you transfer GBP from UK to your wise Account it appears as GBP . From August it will appear as Thai Baht; Wise will have done the conversion for you .

0

Yo***

Yo***

Tim Ayling from August, in Thailand wise, you can add on your THB in THB account. previously it was not possible. from August, you can keep ThB in your thb wise account. In some countries, Wise does not allow to keep own currency in Wise accounts.

0

Ally ************

Ally ************

Tim Ayling If you hold a currency account with Wise in the same currency you are remitting into Wise.. then you can choose to have it held in that currency until such time that you wish to make an outward payment using said funds.. ie. USD deposits can be held on your USD account with Wise.. same goes for GBR or EUR or SGD.. as well as a few other currencies you can elect to hold.. so i don't quite understand this statement 🤔

0

Michael ********

Michael ********

just use Westen Union, problem solved

0

Alan *******

Alan *******

Never had a problem with wise but my Aus bank yes they wanted to know why i had spent over 150k through wise to mine and my partners thai accounts over 15 months.. I bought a house and then the 800k for ext ,the stuff i had to go through to reopen it was an ordeal ,but from now on i am keeping a second bank account in aus open so if either wise or my main bank lock me out i can still do an international transfer through the spare account.

1

Alain ***************

Alain ***************

Wise support said that they will contact me again in august to see what/if I have to do 😂 for whatever reasons, it seems like transfers from wise to bbl became faster. Still not ss fast as a few years ago though

0

Ian *******

Ian *******

Australia and Thailand have a tax treaty preventing any double taxing. If you keep your Australian wise they will report your monetary transactions to the Aus government. If any tax is paid in Aus and you can show that you will not get taxed in Thailand. Same goes the other way around, I worked in Thailand some time ago then returned to Aus then the government wanted me to pay gap tax the difference between Thai and Aus but my accountant set them straight.

0

Ally ************

Ally ************

Ian Adair Wise is not a bank and therefore it is not subject to the same reporting standards (eg. FATCA) viz tax information.. it is currently an FX service company only.. and banks are only required to report the existence of accounts that receive interest payments.. since the whole reporting system is designed to identify income that is not being declared.. not how much money you have on deposit or the nature of any transactions.. the only exception to this surrounds money laundering reporting standards.. which has nothing to do with tax.. and everything to do with suspected laundering of funds generated from criminal activities.. which would apply to Wise's business 😉

0

Yo***

Yo***

basically, you can still transfer your money from overseas to your Thai bank as normal as you do. But big change is, not for Thai bank holders. You can use QR payment with Thai wise app. Especially DTV visa or ED visa holders good. but not Thai bank holders. Thai bank holders always used thai QR payment. one of worst of change is, from August, when you transfer your money for example, USA, to other countries( not Thailand) through Wise, you only can transfer your USD to Wise THB account, and from THB account to other country's currency. simply speaking, yes, you must pay double and charge double. previously, USD to YEN directly through Wise, but new is, USD to THB and from THB to Yen.

2

Geert ********

Geert ********

Young Yes, and that's the big difference between the Thai wise and the Philippines wise account. The bank of Thailand, the countries central bank had added so much restrictions on Wise that Wise becomes a hassle for anyone doing non thai bath currency conversions. Therefore it becomes unusable for me, and I luckily I have Revolut which offers the same services, and is a full bank, compared to Wise which is an electronic money institution only

0

Geert ********

Geert ********

I mean there's also a thb10 000 per day limit plus no cash withdrawals in Thailand, the system whereby the corrupt thai continue to rip off foreigners with probably the highest ATM fees in the world, sorry folks, you cannot use wise for cash withdrawals either, - it's completely totalitarian and your personal freedom has gone down the toilet thanks to the control freaks of the Thailand central bank and its collusion with the local banks

0

Geert ********

Geert ********

And another thing here. Wise accounts are not included in Common Reporting standard. The account name of all your wise accounts appears to be Wise, you just have an internal account assigned to you, because whenever I do Wise account transactions with my Wise usa account, the senders name is always recognized as wise, and it's the reason why usa brokers such as moomoo and firstrade will not accept usa wise deposits because they can't trace and verify the real owner of these accounts

0

Geert ********

Geert ********

In the Philippines converting currencies esp php into other currencies, unlike in the West is called a "privilege", and the central bank's "Forex manuel" which effectively governs and lays out guidelines on how to do these PHP to other forex transactions, effectively it's a burocrats dictating how you should do things, but it only applies to PHP conversions, they don't or didn't have the audacity to control and regulate non-PHP peso conversions, but the bank of thailand has taken this madness to a whole new level whereby an unelected burocrat in the bank of thailand now has effectively infringed and destroyed whatever monetary freedom you take for granted in the West

0

Geert ********

Geert ********

They have now effectively also restricted your overseas accounts because non thai currency conversions could become a taxable event in Thailand this is monstrous totalitarian move disgusting goodbye I'm out of here

0

Geert ********

Geert ********

I mean cash withdrawals in Thailand- why just can't anyone here speak out against this and look at it for what it is

0

Ant ***********

Ant ***********

There is a few videos on it

More detail here

*********************************************

Wise is a currency conversion platform , they are not a bank

If you opened your Wise outside of Thailand - no changes only more options

1

Lawrie *******

Lawrie *******

My Pension is paid into an Account in my home Country and I then transfer 40k + every month into my Thai Account to meet my obligations as per my Marriage Visa.

0

Paul ****************

Paul ****************

Hi Lawrie White I noticed since 16th April when I send thb from australia to Bangkok bank it now longer states " international transfer" even though I select funds for long term stay and then yes to the second question.

It shows as a e transfer from within thailand.

Are you having the same issue ?.

Wise told me to take it up with bangkok bank hq

1

Ally ************

Ally ************

Paul Paddy Moneley Thats because all transfers from Wise into Thai bank accounts go via Kasikorn bank.. as they are the bank that currently act as Wise's banking correspondent in Thailand.. so Kasikorn receives the money first and will recognise it as an international transfer.. then they forward funds to the receiving bank (such as Bangkok bank) who see it as a local transfer from Kasikorn.. but you can get your bank to issue an advice slip to confirm it was an international payment upon request.. Wise are trying to fix this by getting authorisation from the Bank of Thailand to deal directly with all the banks here.. and have intimated they hope to have this in place by end of this month.. this should also allow them to offer services to Thai nationals.. and should allow expats that moved here with an existing Wise account (opened overseas) to register their Thai address as their main residence.. something you could not do previously!

0

Lawrie *******

Lawrie *******

Paul Paddy Moneley

I'm in the Bkk Bank. The only time I actually visit that Bank and get a Statement is when I get my Statement for my Marriage Visa.

I renewed mine in March and had it put in my passport in April... I had no problems with Immigration checking my statement then...and I really can't see there being any problems next year.... So many people are in the Bkk Bank and rely on it being recorded as being deposited from Overseas. There must be a way they can determine that. Otherwise your Wise Transfer from your home country will need to be shown to Immigration and this will be reflected as the payment arriving in Thailand in rhe BKK Bank each month... This consolidated amounts... ie Aust Transfer = Bkk Bk Deposits... should suffice if I need it.

I'll worry about it next year mate...

I know mine is correct...so I'm not going to give it another thought let alone be concerned until I do it again next March...

You are obviously expecting some problems so just do as Wise said...

I'll only worry if mine is rejected next year....

1

Yo***

Yo***

Lawrie White nothing changed for you. you can transfer your money from overseas bank to your Thai bank as always.

2

John **********

John **********

If all you do is use Wise to transfer funds and don't store money in Wise I don't see how it could affect you anyway

4

Scott ******

Scott ******

Unless you are here long enough sufficiently learn the language and petition to become a Thai Citizen then actually get citizenship, there is no such thing as a permanent resident in Thailand. Even you can get a pink resident ID card, but you still aren’t a permanent resident. Thats somebody’s pipe dream. You will be living in Thailand on some sort of VISA and there is no such thing as a permanent VISA.

13

Ray *********

Ray *********

Scott Hall nonsense. Anyone reading this should disregard your stupidity

0

Paul ********************

Paul ********************

Scott Hall yes there is..... And once you get it you have a right to remain... You no longer require a visa or extension of stay... 🤦

You really should check your facts before posting

0

Atle ********

Atle ********

Scott Hall 6 Permanent residency (PR) in Thailand allows foreigners to live, work, and purchase condominiums permanently without yearly visa extensions or 90-day reporting, usually applying for citizenship after 5 years. Applicants must hold a non-immigrant visa for 3+ consecutive years, meet strict income/tax criteria (often 80,000+ THB/month), and pass a Thai language check.

0

Atle ********

Atle ********

Scott Hall There is something called permanent resident in Thailand. To get it you need Non B,Work Permit and also you need to learn language. Pay tax to Thailand for at least 3 years and have no argues with imigration. I was going for passport until I learnt about PR. Now I have a buffet with 9-12 thai staff depending on season. Also I am learning language. To get the PR they want to see you integrated in Thai culture, language and like me help the community somehow🙏🇹🇭❤️

0

Donald **********

Donald **********

Scott Hall Sometimes wonder if these forums are English lessons or nit picking sessions for the terminally bored? People unfamiliar with terminology getting taken out of context and the post they made getting turned into an irrelevant discussion. This time on the minutiae of residency!

6

Jim *********

Jim *********

Scott Hall you can become a permanent resident from what my old friend told me and showed me his, I think red card, but it is almost the same process as becoming a citizen. To become a Thai citizen, he would be been required to give up his US citizenship. He wasn’t doing that.

0

Paul ********************

Paul ********************

Jim McGowan in US terms Permanent Residence in Thailand is the same a green card holder in the US

0

Law ********

Law ********

It will depend on the address that is registered with your Wise account. If you keep your international address you have a problem for now.

2

Tony ********

Tony ********

The changes only apply to Wise accounts created in Thailand.

Foreign accounts should not be affected.

5

RedKi******

RedKi******

but if your a resident of Thailand you have to change your wise address

4

Ally ************

Ally ************

RedKiwi7212 You cannot currently register a Thai address on an existing Wise account.. meaning one opened before moving to live in Thailand.. there system does not allow it yet!

0

Sean **********

Sean **********

RedKiwi7212 resident? Do you mean ‘permanent thai resident’? Or extended stay?

Maintain an actual address in your home country of residence and use that address for banking.

1

RedKi******

RedKi******

Sean Campbell if your in Thailand for more than 180 days your a resident for tax purposes

0

RedKi******

RedKi******

Sean Campbell resident for tax perpous. Wise are doing this to keep there accreditation to operate in Thailand. So there sharing information with thai government. If you YouTube wise in Thailand they have changes from tax accountant

0

Tony ********

Tony ********

RedKiwi7212 That definitely may cause a problem,

What happens if you don't update the address is my thought now.

All correspondence now comes through email, I just wouldn't bother updating 🤔

0

True ********

True ********

RedKiwi7212 being in Thailand over 180days only makes you a tax resident of Thailand. It doesn't mean anything besides having to possibly file and pay tax if you're remitting assessable funds. No need to file or pay tax if remitting exempt funds.

You can still have your tax residency and principal place of residence back home. No issues supplying your licence with home country address when Wise requests updated information. Has worked fine for me and other Aussies over the last 7+years.

0

Yo***

Yo***

True Blue You will get a notice in wise app to update your real address. If you dont, yes you can, Wise will freeze or close or limited your wise account. If you do not need wise anymore, you just ignore it. 😂

0

Yo***

Yo***

When you use wise app or wise web in Thailand so often, your location will be given to Wise. and when wise knows your real location is changed, you will see a red flag or notice on your wise app to update your real address. it does not matter if you have PR or whatever. your location where you use Wise matters. if you do not update within one month, your wise account will be frozen or limited.

1

RedKi******

RedKi******

True Blue if your in Thailand for more than 180 days your a resident

0

True ********

True ********

no issues keeping your Aus address listed. No need to put in any Thai address. No issues with your Wise account.

1

Julian *******

Julian *******

i understand that if you have registered your wise account in australia with an australian address then there are no changes.

7

Yo***

Yo***

Julian Lewis Registered yes, but you have to update where you really live. Wise will notify it in your app. you can leave it. but if you do not update, wise will freeze or close your account. It depends on when Wise will know where you really live and use Wise. For me, about 1 year. I got a update notice on my wise app. So you will know that.

0

Julian *******

Julian *******

Young well i’m domiciled in the uk for tax purposes and use a uk address.

0

Yo***

Yo***

Greg Alexander keeping his UK bank has nothing to do with Wise. Wise only has interest in where you really live. If you live in Uk, you are under UK laws, so Wise is also following UK laws. but if you live in Thailand regardless of anything, you are under Thai laws, so Thai wise also follows Thai laws. You have to update your address in wise and changing to Thai wise. under Thai laws. your UK bank or whatever does not play at all here, your real residency plays a lot only. You must get Thai wise if you are really living in Thailand. The matter is only when Wise knows where you really live. So one day, you will see a update notice in your wise app. Red color one. Then, you will know what this means.

0

Greg ***********

Greg ***********

Young if he keeps his UK bank account and transfers money from there to the WISE account, nothing will change for him, even not when he spends most of his time in Thailand.

0

Yo***

Yo***

Julian Lewis Uk wise is under UK law, Thai Wise is under Thai law. Well, if you are really living in UK, more than 180 days, and real address in UK, but you sometimes visit Thailand and stay just for few months only, your real residence is UK. So you have UK Wise under UK laws. But if you stay more than this, Wise will ask if you live in Thailand or changed your residence. If you do not update your real residency, wise will freeze or close or limit your wise account.

0

Yo***

Yo***

Julian Lewis no. if he is living in Thailand, real resident, Wise will know that and ask him to put the new real address. if he is not doing this, his account will be frozen or limited to use.

0

Lloyd *********

Lloyd *********

Young how would Wise know he's living in Thailand? Do they have access to immigration records?

0

Richard ********

Richard ********

Young Drivel.

Most people aren't paranoid enough to use a VPN, and by default the WISE app doesn't have location permission.

0

Yo***

Yo***

Lloyd Landrie /when you used wise, your VPN or dvn is Thailand. they will know your real location. but, if you do not use Wise in Thailand, they can not know where is your real location. However your transaction history will be considered too. so they will ask you if you changed your resident location, or real living place.

0

Activity

29 joined

Mark ********

Mark ********

Mark ********

Mark ********

Mark ********

Mark ********

29

people

Thai Visa Advice and Everything Else

Thai Visa Advice and Everything Else

...members60% approval

Member 1

Member 2

Member 3

Member 4

Member 5

Member 6

Member 7

Member 8

Conversation Join group

Related

25

How can I transfer 800k THB back to GBP while leaving Thailand?

Are there any discussions about creating a permanent marriage visa in Thailand?

Can I open a Bangkok Bank account with a Non-B visa before getting my work permit?

Can I pay my rent in Thailand using Wise or similar services?

Is a Wise account acceptable for DTV visa proof of funds in Thailand?

Can I change my Social Security direct deposit to my Thai bank account with Kasikorn Bank?

Do I need to add money to my Wise account before sending to a Thai bank account?

Why is Krungthai Bank asking for my CRS/FATCA information as a DTV visa holder?

Which bank is best for Wise remittances to show foreign transfer on Thai statements?

What has changed with Wise transfers to Bangkok Bank, and will immigration accept them for visa renewal?

What are the current exchange rates for USD, AUD, and Euro to Thai Baht, and how do these rates affect expats in Thailand?

What are the implications of recent changes in Wise to Bangkok Bank transfers for NON-O retirement extension?

Why is my Bangkok Bank account unable to make transfers or top up despite no notifications?

What exchange rate does the Thai embassy use for converting THB to EUR or USD?

What are the options for opening a high-interest savings account in Thailand for marriage visa requirements?

Does financial evidence for a Thailand DTV visa need to be in baht, and is a Wise account acceptable?

Is it acceptable to submit a bank statement from Wise in Romanian Lei for my Thai Visa application?

What should I do if Wise no longer shows 'Funds for long term stay' for international transfers to Thailand?

Is it a bad time to move money from a Thai bank back to the US due to high exchange rates?

What is the procedure for moving ฿800k for a retirement visa in Thailand and how does it impact my visa renewal?

Can I use a different Thai phone number with my Wise account to transfer money to a Thai bank account?

How can I open a bank account in Thailand if I need a visa to do so and also need a bank account to get a visa?

Which money transfer app offers the best deal for sending money to Thailand?

What are the requirements for applying for a Non-O visa in Thailand while on a family extension?

What are the challenges of using TransferWise for international transfers to Thailand regarding immigration requirements?

Resources

Cannabis shops near me Retirement visa extension eSIM for Thailand LTR visa qualification

Need help with your Thai visa?