Although I opened my Wise account with a Thailand address, Wise is registered in the UK, so there is no Swift transfer involved. I believe the transfer from my pension providers to Wise is by Faster Payment Service (FPS).
My pensions are paid directly into my Wise account. There are no fees.
Credit union transfers require me to send a request for funds then wait for their next banking session. No fees. My credit union will also send money directly to my Bangkok Bank account, using Swift, but that is even slower and more expensive than Wise.
I am hoping Wise will provide a debit card for Thailand. At the moment, if I want to pay for air fares etc., I need to transfer money into Thailand then pay with my Thai bank cards. Losing money in fees and exchange rates.