I don't know about Canada but I know from Australia to Thailand the best way cause I don't have a Thai bank account is to use Western Union cash pick up but I have to transfer $5001 or more to get almost the full market rate. If I transfer $5000 or less the rate goes down a lot. So if I transfer $5001 or more the only fee is $7 and I get almost the same rate that wise pays for a bank to bank transfer, slightly lower
the denied entries are people doing border runs by plane. It's still possible to live in Thailand continuously by doing LAND border runs. It's actually become much easier in the past couple of years since they took away the 2 land border entries per year limit. Now there is no limit so if you go to land borders where you pay a small fee for the stamp or go with border run companies you can live in Thailand on visa exempt stamps
You should check Western Union as well. If I transfer more than $5000 Australian Dollars to Thai Baht western union pays out a fair bit more than Wise. For Australian bank accounts Wise is best for small transfers under approx 110,000 Baht and Western Union is best for large transfers. On the 400,000 baht it could save you a few thousand baht
Sounds like you have no risk to worry about. The risk is not anywhere near as bad as what the Expat Facebook Visa Police in this group say. Unless you are doing border runs where you stay for 60 or 90 days and then leave for a few weeks and return and keep repeating it over and over again that's when you start to have a risk. You need to remember that the majority of people that come to Thailand don't follow this group and the people that do non stop border runs successfully don't post their success on her cause they have no need to. So you only hear the small minority of people who get refused entry and then freak out and join a group like this seeking help