Wise vs Revolut - This is what I've found out

[KannikaP]

On 5/8/2025 at 3:49 AM, Equatorial said:

 

I am curious, does maintaining a Thai balance in WISE lower the cost of transferring money from US-based bank to a Thai bank? 

 

In other words, are the following two scenarios same in terms of cost (assuming the same interbank exchange rate in both scenarios)?

 

1/ Transfer let's say $2,000 from a US-based bank to Bangkok Bank, using the basic WISE transfer functionality.

 

2/ Transfer the same amount, $2,000, to WISE a USD denominated balance, convert it to a balance denominated in Thai Baht, and then deposit the entire amount into an account in Bangkok Bank. 

 

If different, can someone provide detail? I am new to using WISE and all of the rules and costs and conditions are a bit overwhelming... 

WISE charged me  GBP4.78 to convert 827.65 into THB 35000, and then THB 44.60 to send it to Bkk Bank. I have not sent GBP directly to my Bkk Bank as I like to wait for a good rate, but I do not think there is much difference whichever way you do it. That's GBP, no idea about USD, sorry.

[treetops]

On 5/12/2025 at 12:16 PM, KannikaP said:

What about EUR I wonder.

 

Alrady answered above I believe in that a fee only applies to USD and CAD.

[RetiredThailand]

On 1/13/2025 at 12:52 PM, RSD1 said:

I have a Wise card and I use it in Thailand daily and I have never gotten charged any surcharge at all by any vendor for using an overseas card.

Hi RSD1,

 

For those that send cash to Thailand from a USD account abroad to Bangkok Bank, would you get a better exchange rate if you transfer to Wise first, convert the USD to THB within Wise and send to the Thai bank?

 

Or is it the same if I just send USD directly from my bank abroad to the Thai bank and let them handle the currency conversion to THB?

 

Thanks!

 

[KannikaP]

3 minutes ago, RetiredThailand said:

Hi RSD1,

 

For those that send cash to Thailand from a USD account abroad to Bangkok Bank, would you get a better exchange rate if you transfer to Wise first, convert the USD to THB within Wise and send to the Thai bank?

 

Or is it the same if I just send USD directly from my bank abroad to the Thai bank and let them handle the currency conversion to THB?

 

Thanks!

 

It is the same, quoting GBP, if you send GBP or previously converted THB to your Thai bank. I've done it both ways and there are pennies, or satang, in it. DO NOT send USD, or GBP to Thai bank as they will use THEIR exchange rate as and when the dosh arrives.

Just to say that I did a Bht 10,000 transfer from WISE yesterday, for Personal Expenses. Arrived at 14.02 as an International Transfer. 

[treetops]

2 hours ago, RetiredThailand said:

For those that send cash to Thailand from a USD account abroad to Bangkok Bank, would you get a better exchange rate if you transfer to Wise first, convert the USD to THB within Wise and send to the Thai bank?

 

Or is it the same if I just send USD directly from my bank abroad to the Thai bank and let them handle the currency conversion to THB?

 

Exchange rate is the same but holding money in Wise in USD allows you to time the exchange to take advantage of any upswings, although you'd need to be holding a lot to make any significant difference.  I believe you can automate the process to exchange at a pre-determined rate if you so desire.

 

You can send USD to Thai banks but will also incur the cost of a Swift transfer, and that will vary depending on your banking relationship.  For larger amounts (I've seen $10K and ~ $20K USD mentioned) this could get a better result than Wise.