WROBE

Question to Gemini: "can Wise legally become a locally regulated entity under the Bank of Thailand without notifying thai customers first" Reply: "Advance Notification: Wise has already begun notifying Thai customers that they will transition to a local entity fully licensed and regulated by the Bank of Thailand (BOT) starting on or after May 19, 2026. Mandatory Re-Verification: As part of this legal transition, Wise must contact customers (expected in April 2026) to request additional verification documents to comply with BOT Know Your Customer (KYC) regulations." Contractual Changes: Legally, a company cannot unilaterally switch a customer to a different regulated entity (e.g., from Wise's international entity to a Thai-specific one) without providing notice, as this changes the governing law and consumer protections."

Question to Gemini: is Wise still planning to make changes to thailand setup Reply: "Yes, Wise is proceeding with a major transition to a locally regulated entity under the Bank of Thailand, with significant changes effective on or after May 19, 2026. Verification: Starting in April 2026, Wise will require users to provide additional verification documents to meet Bank of Thailand requirements." "Wise will likely ask for: Updated ID: A fresh scan of your passport. Thai Residency Proof: A Thai driving license, yellow house book (Tabien Baan), or a long-term visa stamp. Biometric Enrollment: You'll likely need to do a "liveness check" (moving your head in front of the camera) to set up the biometric signature required for those 50k+ transfers."

Wise changes begin May 19.

Wise calls this "convert and hold" feature. To change from THB to another currency. The conversion fee is from 0.33% to 0.43% depending on the currency pair (THB to USD).

After talking with Wise support and researching using Gemini (don't laugh these AIs are amazing. A few months ago I thought they were hype. Do yourself a favor and start using them. They're the "real deal".) This is what I've concluded. I'll use my profile as an example. But that will match many of us. For the last 11 years I've been using Wise to transfer USD to BBL. BBL allways coded the deposit as a foreign transaction. It was scheduled and fully automated. I could die and transfers to BBL would continue. Last month I heard about the changes Wise was going to make. I gave Gemini all the details of my current Wise transfer procedure and asked if I can continue after May 19. Gemini responded "You can still set up a recurring transfer for 70,000 THB in the Wise app, but it will not be "fully automatic"." On your scheduled date, Wise will pull the funds from your balance. The transfer will pause. You will receive a notification from Wise. You must open the app and perform the 5-second face scan. Only after the scan can the 70,000 THB released to your Bangkok Bank (BBL) account. Note: If you don't scan within 48 hours, the transfer is usually cancelled and refunded." That seemed extreme to me, so I talked with Wise support. They confirmed what Gemini said. But said face scan not needed. I just had to sign into the app and approve each transfer. All this required because of BOT anti-fraud restrictions. Wise support said I could split the transfer and schedule separate transfers so BOT won't enforce the 50k limit. But most likely BBL will not code as FFT. So no more "automatic" transfers. I explained to Gemini that I wanted a reliable (FFT coding) fully automated method to make future Wise transfers. Gemini response: "Because Wise Thailand will be a local entity, the transfer to BBL will likely be a domestic PromptPay, which lacks the "International" code (FDT/FET) in your bank book. The Digital Solution: Wise is working to ensure their PDF Transfer Receipts are officially recognized by Thai Immigration. These receipts explicitly state the source of funds (USD) and the sending bank, which proves the money originated from abroad." Apparently Gemini has never delt with CM IMM. 5555 All this because my Wise account is a "local entity" so I can't have USD in my account. I must have a fully automated process. So one more session with Gemini. And once again Gemini came through for me. Gemini response: "The "gold Standard method" (Gemini actually said "gold standard") would be to link your bank with Wise. That way Wise can pull USD from your bank. Then convert to BHT and transfer to BBL." Using the Wise app, I linked my USD bank to Wise. Very easy. Within 10 minutes I receive an email from my bank. They wanted me to confirm I allowed Wise to withdraw any amount, at any time from my account. They were basically asking me "Do you really want to do this?" I ran a test 1k BHT transfer. My bank emails me that Wise made a withdrawal. Wise emails me that funds have been sent. At 2:01 the 1k arrived at BBL coded as foreign transfer. Thank you Gemini! Hopefully the Wise AI agent won't go rouge and empty my bank account.

You're correct, deposits are not limited. But if the funds for the transfer to your Thai bank originate from your Wise balance, it's actually a prompt pay transaction. Because Wise will be a local entity.

I won't dispute that I often have "nonsensical interpretations" 5555 But Google/Gemini states: Anti-Fraud Cap: many mobile banking apps apply a default cap of 50,000 THB per transaction. For security, the Bank of Thailand requires facial recognition (biometric verification) for: Any single transfer exceeding 50,000 THB. Really no problem for us because we can bypass our Wise "Thai branch" restrictions by pulling from our home bank.

After May 19 our Wise Thai branch will be using the "prompt pay" system for all transactions.

After May 19 our Wise Thai branch will be using the "prompt pay" system for all transactions. We are using BATHNET now with a limit of 2 mil BHT. Those of us who require monthly FFT transfers should not "push" funds from our home bank to Wise. There is no way in Hell IMM would recognize FFTs from a fintech (Wise). We must transfer to a Thai "legacy" bank like BBL. After the 19th the last thing we want to do is push funds from our home bank to Wise. Since they will go directly to Wise's Thai branch. Then an FFT transaction is not possible. To fund transfers for IMM, we should have Wise "pull" from our home bank. Then transfer to a Thai legacy bank of choice. This method bypasses our Wise Thai bank account and uses BATHNET. For non IMM transfers just send from our home bank. THB will arrive in our Wise Thai account ready to access.

Most of us are retired expats living in paradise. We have NO interest in "global bridging mechanisms". For Expats in Thailand, the Wise changes are positive as long as we alter the transfer procedure from our home bank to the Wise bank in Thailand. After May 19th the funds transferred from our home bank will automatically be accessible in Thailand. Because Wise has a Thai branch, all transfers should be instant. No need for an intermediate Thai bank to make the transfer. Also the Wise phone app can be used to "scan to pay". And transfer funds to and from other Thai banks. The Wise "Thai branch" replaces BBL, Kbank etc. However Wise will be operating under BOT restrictions. All foreign transfers above 50K BHT will be flagged. Meaning a delay or refusal to accept the transfer. Transactions below 50k are processed instantly. Easy solution is to split transfers from our home bank. It won't cost more because Wise's transaction fee is a percentage of the transfer amount. Not a fee per transaction. Because Wise has to play by BOT rules, only THB can be deposited into our accounts. Can't park non BHT currencies anymore. So we have to make transfers when the exchange rate is good. But we will be transferring instantly to a Thai bank so really no need to park funds. But we will loose one day in timing (the transfer from home bank to Wise) So after May 19th, to access funds from our home banks simply transfer to the Wise Thailand branch. The home bank thinks it's a domestic transfer. The process of "international transaction" is invisible. Wise takes care of everything.

The BOT is forcing Wise to make these changes. They either comply with the BOT demands. Or discontinue operations in Thailand. It's that simple. Yes. It's bad news for expats. But before you dump Wise. You should compare the new Wise fees with your bank. I use Chase bank in the US. If I transfer directly from Chase to BBL in CM. Or transfer through the BBL branch in NYC. Wise is still less expensive after May 19. The conversion rate markup that Chase does is ridiculous. As far as timing of the conversion from USD to BHT. I will do that by transferring to Wise when I like the exchange rate.