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International Money Transfer to Thailand — Wise, SWIFT, Crypto

Wise is the cheapest, SWIFT is the largest — and compliance matters for large incoming wires

AI Quick Answer

Wise is cheapest for < USD 50,000 per transfer (0.4–1% fee + mid-market rate), arriving at Kasikorn/SCB/Bangkok Bank in 1–2 hours. Above USD 50,000, use SWIFT (originator 25–50 USD + receiving bank THB 200–500 + intermediary fees) and specify the purpose code clearly — for a condo purchase use 'Purchase of Condominium' so the bank issues a FET form. Crypto requires KYC via Bitkub/Binance TH, capped at THB 2M/year per account.

Cost

Wise 0.4–1% · SWIFT USD 30 + THB 200–500 · Crypto 0.25–0.5%

Timeline

Wise 1–2 hr · SWIFT 1–3 days · Crypto < 30 min

Documents

5 items

+66 92 242 9293 LINE @nyc-notary

Steps (5)

1
Choose channel
Wise (small/medium), SWIFT (large), Western Union/MoneyGram (cash pickup), Crypto (peer-to-peer)
2
Complete origin KYC
Wise: passport + selfie + address proof / SWIFT: walk-in to originator bank with ID
3
Specify purpose code
Salary / Family Support / Property Purchase / Investment — Land Office requires 'Purchase of Condominium' to issue FET
4
Send and track
Track in-app — funds land in 1–72 hours depending on channel
5
Request FET form if > USD 50K
At the receiving bank request the Foreign Exchange Transaction (FET) form — needed for condo or BOI land purchase

Documents

Passport (KYC)
Thai bank account + branch code
Purpose of transfer
FET form if > USD 50K (auto-issued)
Source-of-funds proof if compliance flags

Frequently asked questions

Wise vs SWIFT?

Wise uses the mid-market rate with transparent fees of roughly 0.5–1% all-in and typically lands within a day. SWIFT hides a 1–3% FX margin and adds correspondent charges at up to five levels, but it remains the practical channel for transfers above USD 100,000 and for condo purchase funds needing an FET form.

Does > USD 50K trigger reporting?

The receiving bank reports qualifying inbound transfers to the Bank of Thailand, and AMLO is notified if the pattern looks unusual. Nothing is blocked automatically, but keep your source-of-funds evidence — payslips, a sale contract, a tax return — ready, because the bank may ask before releasing the funds.

Can I bring crypto from abroad?

Yes. The common route is an international exchange to a Thai SEC-licensed platform such as Bitkub or Bitazza, which is KYC-verified, then sell to baht and withdraw to your Thai bank. Withdrawal limits apply per account tier, and gains are reportable as assessable income.

Does Wise support multi-currency THB?

Yes, a Wise Account can hold a THB balance and receive baht, but Wise does not issue a Thai debit card and payouts still settle through a domestic bank account. Treat it as an FX and transfer tool, not a replacement for a Thai bank relationship.

Can I send money out (outbound)?

Yes, every inbound channel works in reverse. SWIFT through your Thai bank suits large sums and requires documentation of source for amounts over USD 50,000. Wise outbound costs roughly 0.4–1%, while DeeMoney and SkyRemit are cheaper for small regular remittances to neighbouring countries.