Hello, I just opened an account at Bangkok Bank today. I plan to use Wise to transfer money to the account. Should I transfer the USD to THB in the app first before sending it to the bank?
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TLDR : Answer Summary
The community suggests that for transferring money from Wise to Bangkok Bank, you have the option to either convert USD to THB in the Wise app before sending it, or transfer USD directly to your Thai bank account in baht. Most users recommend using Wise for better exchange rates and lower fees compared to traditional banks, and highlight that you can choose to convert your currency beforehand for better control over the exchange rate.
Wise offers you both ways. You can send money directly to your Thai bank account (e.g. from a credit card). But you can also „top up“ wise in USD or EUR first, then convert it into THB and then send THB to Bangkok bank. The first way is a bit more convenient. The latter way is a bit cheaper (and you could make use of automatically converting when the exchange rate is good / meets a chosen threshold). I usually do the latter.
Gary **********
I do both
Anthony ********
Yes wise converts your dollar to baht and puts it in your bankok bank account. It's a better rate than normal. And charge less than your USA bank.
Marcos **********
Transfer by Cryptocurrency. You will save a lot of money on fees
Marcos **********
I do it like this:
1. I transfer money to Binance and buy BUSD
2. Send BUSD to my wallet BitazzaTH No transfer fees.
3. Do Withdrawal between BiazzaTH to Bangkok Bank (fee 20 THB)
Fast, safe, cheap
Via wise I would pay something around 100 dollars fee
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Marcos **********
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Stuart *********
Send USD to your wise account. Then transfer to THB from there.
Sean *********
You get a better exchange rate through wise than the bank
hi the transfer process through wise is much quicker than doing the bank to bank transfer. The fees are much higher bank to bank than wise and sometimes the receiving bank receives less money too. My transfers also take seconds
no, I assumed the person was asking about transferring USD to wise. Then converting to THB. Then transferring to Thai bank account. There's no need for that complication.
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Brandon ************
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