I'm currently thinking whether to open a Wise multi currency account in THB and how that would be beneficial.

 

As far as I understand I could use this to change my home currency into THB ahead of time, whenever the exchange rate appears favorable.

 

But how can I spend the accumulated THB later?

 

- I know I can get a Wise credit card (physical or virtual) and use that for my purchases in Thailand. But I don't really use a credit card in Thailand that often.

 

- also I could withdraw money from ATM, but the monthly Wise limit and the Thai ATM fee doesn't really make this option attractive

 

- what would be useful for me though is transferring THB from Wise to a Thai bank account, for example to pay my rent or other bills. Is this possible with a Wise multi currency account balance in THB? Would it cost additional fees for the bank transfer, or are the fees already charged when I convert my home currency into THB when I deposit into my Wise THB account?

15 hours ago, farrol said:

- what would be useful for me though is transferring THB from Wise to a Thai bank account, for example to pay my rent or other bills. Is this possible with a Wise multi currency account balance in THB? Would it cost additional fees for the bank transfer, or are the fees already charged when I convert my home currency into THB when I deposit into my Wise THB account?

 

Everything in your original post is correct.

 

Regarding the excerpt above, yes, Wise will charge you around 46 Baht per transfer when sending money from your Wise account's THB balance to a Thai bank of your choice. It is a fixed fee, and as far as I know, there is no transfer limit. This fee is not included in the conversion fee when you exchange another currency into Baht within your Wise account. If you transfer less than 50,000 Baht from Wise, the funds will usually arrive in your Thai bank account within seconds. 

Thanks for the info, sounds like it's worth it for me then 👍

On 8/7/2025 at 2:53 AM, farrol said:

I know I can get a Wise credit card (physical or virtual)

 

(1) AFAIK Wise does not issue credit cards - only debit cards.

 

(2) I believe Wise will not send a first debit card to Thailand.  (Not sure about subsequent cards - not reached that point yet.)

As for spending the money, you can transfer to a Thai bank account and withdraw the money locally to spend (no steep ATM fee), or spend on a Thai debit card.

OP - Everything you mention is what I do.  It allows you to buy THB as and when you want to take advantage of the exchange rate, as opposed to "having" to buy THB when you need to. I buy THB in small or large amounts multiple times weekly, or even daily - if the rate is actively moving positively.

 

EDIT: You also need to hold your domestic currency in Wise to do the above. Otherwise you must initiate a payment transfer to Wise for each transaction. I usually dump my domestic currency into Wise in bulk once or twice a month, depending on my liquidity and ROI etc.

 

The worst scenario is you get an average rate across a time period rather than buying in bulk on any one day. On several occasions I've converted THB back to my domestic currency because the THB strengthened and I had a surplus - make a quick $500, and then hope your currency strengthens.

 

The transfers from Wise FX account to my Kasikorn bank are virtually instantaneous, even after banking hours and weekends/holidays.

 

The Wise card is handy at supermarkets, malls etc.  No fees.  No good for ATM cash though, as the limits and fees are not practical. You can also get a Wise digital card - good for Lazada, shopee etc.

 

Sidenote - when dicking around in the Wise app checking exchange rates of various currencies, be careful before you press the confirmation button. I once inadvertently bought a truckload of Kenyan Shillings. Luckily I got out of them after a week at a minor profit, about enough to buy a pack of Marlboros.  

9 hours ago, Zaphod Priest said:

(2) I believe Wise will not send a first debit card to Thailand.  (Not sure about subsequent cards - not reached that point yet.)

That is correct. If you opened your Wise account with a UK address then the first card must be posted to the UK. If you opened your Wise account with a European address then the first card must be sent to a country in Europe. The same rule applies for the US.

 

Replacement cards and second cards (since they allow you to have both their green card and their white card) can be mailed to any address you choose, including Thailand.

 

However, if you open a Wise account using a Thai address you will not have access to the card facility at all. The same restriction applies to any other country where Wise is not licensed to issue debit cards.

 

In Asia, a Singapore address gives you access to the card facility and possibly Japan as well. I am not familiar with all of the countries, but I do know that a Thai address does not give you access to either the physical or digital cards.

6 hours ago, FriscoKid said:

However, if you open a Wise account using a Thai address you will not have access to the card facility at all.

 

Thanks to the Bank of Thailand in all probability, I think.

 

52 minutes ago, OJAS said:

 

Thanks to the Bank of Thailand in all probability, I think.

 

Thai banks want full control over digital payments in the country. That means overseas banks can’t issue cards to residents in Thailand, and Thai debit and credit cards can’t be linked to Apple Wallet because the banks don’t want to share any of the fees with Apple. It doesn’t stop there. Thailand is one of the few countries in Asia that still doesn’t support Apple Pay, while many others already do. A few years ago, PayPal was also shut down for individual users residing in Thailand. More control over the digital money flow. Yes, it’s probably Bank of Thailand policy, but I believe the banks themselves are driving a lot of these decisions.

I’ve  used it for a number of years with no issues last week I paid a bill in $ I’ve used different currencies to pay bills from my wise sterling account having said that I do send money each month to my Thai bank I never use ATMs to costly I tend to pay everything using QR Code at 74 years young I try and keep up with the changing technology 

15 hours ago, OJAS said:

 

Thanks to the Bank of Thailand in all probability, I think.

 

The Thai baht has always been a controlled currency,something many seem to forget.

 

AI Overview

 

The Thai baht is not a fully restricted currency, but it does have some regulations on its movement and usage, particularly in international transactions. While there are no limits on bringing baht into Thailand, there are restrictions on taking baht out of the country, especially for travel to certain destinations. Additionally, while foreign currencies can be freely transferred into Thailand, there are specific rules and regulations regarding their use and conversion into baht. 

On 8/7/2025 at 6:29 PM, FriscoKid said:

 

Everything in your original post is correct.

 

Regarding the excerpt above, yes, Wise will charge you around 46 Baht per transfer when sending money from your Wise account's THB balance to a Thai bank of your choice. It is a fixed fee, and as far as I know, there is no transfer limit. This fee is not included in the conversion fee when you exchange another currency into Baht within your Wise account. If you transfer less than 50,000 Baht from Wise, the funds will usually arrive in your Thai bank account within seconds. 

If your Thai account is with KTB, 50000 baht is the limit per transaction anyway. 

On 8/8/2025 at 4:56 PM, FriscoKid said:

That is correct. If you opened your Wise account with a UK address then the first card must be posted to the UK. If you opened your Wise account with a European address then the first card must be sent to a country in Europe. The same rule applies for the US.

 

Replacement cards and second cards (since they allow you to have both their green card and their white card) can be mailed to any address you choose, including Thailand.

 

However, if you open a Wise account using a Thai address you will not have access to the card facility at all. The same restriction applies to any other country where Wise is not licensed to issue debit cards.

 

In Asia, a Singapore address gives you access to the card facility and possibly Japan as well. I am not familiar with all of the countries, but I do know that a Thai address does not give you access to either the physical or digital cards.

If you don't have a permanent residence / address anywhere, could you use a relative 's address in a western country to get the account/card, and then use it here?

Does wise check residence?

22 minutes ago, thecyclist said:

If you don't have a permanent residence / address anywhere, could you use a relative 's address in a western country to get the account/card, and then use it here?

Does wise check residence?

 

 

That is exactly how I got my card.

1 hour ago, thecyclist said:

If you don't have a permanent residence / address anywhere, could you use a relative 's address in a western country to get the account/card, and then use it here?

Does wise check residence?

If the residence address you use with Wise is not in the same country as the country of citizenship shown on your passport, it is quite likely that they will ask you for supporting documents to verify your residence address. If the residence address is in the same country as your passport, they might not check it at first. However, there is still a chance that they will review it later and lock your account until you provide proper documentation to verify your residence.

Does Wise accept Thai Resident Individuals ? Or do you need to be Resident in Europe ?

European phone nr ? Et et ?

I found I was too dependent on Wise so have just recently opened a HSBC Multi-Currency account and a Chase Bank account (no overseas transaction fees). I timed it on a trip back to London as they need to send the physical cards to a UK address. I'm still in London so cant give any feedback just yet, but I will feedback when I get back to Bangkok in late August.

Revolut is another option to consider, very similar to Wise. Revolut and Wise are much the same but a bit different. Revolut offers better exchange rates up to a certain amount, but it is not as cheap for transferring money to a Thai bank account as Wise is. Revolut works like Wise though as a borderless multi-currency account and with various ways to move money in and out. You can keep multiple currency balances, transfer back and forth between currencies, and use the account for all kinds of digital payments.

 

I personally only got the digital debit card when I opened the Revolut account and didn’t bother with the physical card. I keep the digital card in my Apple Wallet as a backup payment method for any country I might need it, just in case Wise or anything else fails. But you can also use Recolut just like Wise to make digital debit card payments in Thailand, anywhere debit and credit cards are accepted.

 

I don’t think you can open an account with Revolut using a Thai address though. Basically, you need an address in a western country such as the UK, EU, or US.

On 8/10/2025 at 9:53 AM, Marco100 said:

Does Wise accept Thai Resident Individuals ? Or do you need to be Resident in Europe ?

European phone nr ? Et et ?

No - Wise doesn`t accept Thai citizens . Not sure about companies though ?

2 minutes ago, persimmon said:

No - Wise doesn`t accept Thai citizens . Not sure about companies though ?

My Thai wife living in Thailand opened a Wise business account. 

On 8/8/2025 at 4:56 PM, FriscoKid said:

 

Replacement cards and second cards (since they allow you to have both their green card and their white card) can be mailed to any address you choose, including Thailand.

 

 

Is this new?  

 

Wise would not mail a replacement debit card to me here in Thailand. 

 

i had to have it sent to my German address and then a friend (who was visiting me here in Phuket from Germany) hand  carried the card to me here in Phuket , after which i activated the card.

.

On 8/10/2025 at 3:53 PM, Marco100 said:

Does Wise accept Thai Resident Individuals ?

 

For multi-currency accounts, yes. But for Wise cards, no (unless the multi-currency account was opened and registered with a Western home country address).

On 8/7/2025 at 2:53 AM, farrol said:

- what would be useful for me though is transferring THB from Wise to a Thai bank account, for example to pay my rent or other bills. Is this possible with a Wise multi currency account balance in THB? Would it cost additional fees for the bank transfer, or are the fees already charged when I convert my home currency into THB when I deposit into my Wise THB account?

 

It is possible to make transfers from a multi-currency account to a Thai bank in either your home country currency or THB - and, in fact, the Wise rate is slightly less than for a direct transfer from your home country bank account (at least in the case of home country currency transfers). Might be worth bearing in mind unless your home country bank levies charges for transfers to a multi-currency account in your home country currency (which, thankfully, mine does not).

 

Just to add, for GBP and USD accounts on Wise, can receive very attractive interest if select the optiin, which it says count as CGT rather than normal interest for tax purposes...! Can also choose to put it on global stock market investment fund..., this of course a bit risky...! 

 

For THB account the interest only option is not available - it's a shame , only stock market option..., and I'm not sure what market it is, possibly global I would have thought, not Thai market...!? 

19 minutes ago, Agusts said:

Just to add, for GBP and USD accounts on Wise, can receive very attractive interest if select the optiin, which it says count as CGT rather than normal interest for tax purposes...! Can also choose to put it on global stock market investment fund..., this of course a bit risky...! 

 

For THB account the interest only option is not available - it's a shame , only stock market option..., and I'm not sure what market it is, possibly global I would have thought, not Thai market...!? 

 

If you have a Thai address in your Wise account profile, you do not currently have access to the Wise Interest or Stocks features, including the option to put money into a global stock market investment fund or a Thai stock market option within Wise. These features are only available to residents in certain countries such as the UK, Singapore, some EEA countries, Australia, Brazil, and Switzerland. Thailand is not included in this list, so you will not see these options in your Wise app or website with a Thai address. It's all tied to the address not the currencies of the accounts held at Wise. I have USD, GBP and THB but no options for interest or investing is available.

5 hours ago, Digitalbanana said:

 

If you have a Thai address in your Wise account profile, you do not currently have access to the Wise Interest or Stocks features, including the option to put money into a global stock market investment fund or a Thai stock market option within Wise. These features are only available to residents in certain countries such as the UK, Singapore, some EEA countries, Australia, Brazil, and Switzerland. Thailand is not included in this list, so you will not see these options in your Wise app or website with a Thai address. It's all tied to the address not the currencies of the accounts held at Wise. I have USD, GBP and THB but no options for interest or investing is available.

 

Yes, it's probably true, I have it with UK address... 

 

The key point for me is THB Wise currency account not give interest even with UK address, which is a shame, because trying to convert from GBP/USD to THB when there's a favourable exchange for future use is defeated due to losing ~4% interest...! 🙄

 

And sending it to my Bangkok Bank THB account is also not useful, I think they give 0.15% interest currently...! 

On 8/12/2025 at 10:21 PM, oldcpu said:

Wise would not mail a replacement debit card to me here in Thailand. 

Why do you need a physical card?

What does it do that a digital card doesn’t?

18 minutes ago, Nemises said:

Why do you need a physical card?

What does it do that a digital card doesn’t?

It works when my phone is dead or forgotten. 

On 8/21/2025 at 12:00 PM, oldcpu said:

It works when my phone is dead or forgotten. 

Carrying a wallet full of plastic cards around all day, every day? 🦕 LOL…no thanks. Much prefer technology: no cards, no wallet, just a small device 📲

 

Not hard to remember to take a charged phone out with you. 
 

On 8/12/2025 at 12:21 PM, oldcpu said:

 

Is this new?  

 

Wise would not mail a replacement debit card to me here in Thailand. 

 

i had to have it sent to my German address and then a friend (who was visiting me here in Phuket from Germany) hand  carried the card to me here in Phuket , after which i activated the card.

.

 

I don’t think this is new. I had my current Wise White card sent to me in Thailand by Wise at least a few years ago. When you order a new card in the app it asks what address you want it sent to, and I entered a Thai address without any issue. My Green card was also replaced once when it expired, and that replacement was shipped to Thailand too. This does not change the address on your account, it is only used for card delivery.

 

Do you already have both the Green and White cards? If not, you could try ordering the White card as a test and see if it can be delivered to Thailand.

 

 

 

 

2 hours ago, FriscoKid said:

 

I don’t think this is new. I had my current Wise White card sent to me in Thailand by Wise at least a few years ago. When you order a new card in the app it asks what address you want it sent to, and I entered a Thai address without any issue.

 

i tried that during the COVID years.  The app refused to let me send the card to Thailand.

 

(maybe card didn't want to catch anything ... lol !! ).