BANGKOK, THAILAND – From 19 May, money transfer company Wise shifted its Thailand services to a locally licensed entity, unlocking direct baht transfers abroad and full PromptPay integration for residents.
Baht transfers abroad without detours
People earning their income in Thailand had previously been unable to send baht abroad directly via Wise. That changed in May, when Wise began allowing customers to transfer THB from a local bank account or from their Wise balance at the mid-market rate, with fees shown upfront. The move aimed to make cross-border payments more transparent for users who are paid in baht.
At the same time, new regulations restricted other routes. Transfers between two foreign accounts routed through Wise Thailand, such as from the United States to Singapore, were no longer possible. Foreign currencies like USD or GBP also could not be sent out directly from a Wise balance; funds first had to be converted into baht.
PromptPay integration changes daily spending
Wise fully connected its service to PromptPay, Thailand’s national instant payment system. Customers could send money to any PromptPay ID, whether linked to a mobile phone number or an ID number, and receive payments via QR code or e-wallet ID. Scan-and-pay for PromptPay QR and ThaiQR codes was added to the app.
The upgrade targeted a long-standing problem for foreigners in Thailand. In many small shops and at market stalls, international cards had frequently failed. With the new QR capability, this bottleneck disappeared, and Wise users were able to pay where international cards simply were not accepted.
Physical cards but no Thai ATM withdrawals
Wise started issuing both digital and physical cards to addresses in Thailand. The card covered online payments, in-store purchases and cash withdrawals abroad, giving users a single instrument for most everyday spending. For many, it functioned as a bridge between local life in Thailand and travel elsewhere.
One function was removed, however: customers could no longer withdraw cash at Thai ATMs with the Wise card. The company instead pointed users to PromptPay as the preferred way to move funds domestically. Those who regularly needed cash were expected to adapt their habits accordingly.
Foreign currencies only in transit
Incoming transfers in foreign currencies were now automatically converted into baht at the prevailing mid-market rate, with fees included. Users who had wanted to keep USD or EUR on their Wise accounts lost that option under the new structure. Foreign-currency balances became a temporary step rather than a long-term holding.
More than 40 currencies remained available to hold and exchange, as long as the original funds came from Thailand. The system thus stayed flexible, but only in one direction: baht could still be switched into other currencies, while foreign inflows were immediately turned into THB. The change reshaped how customers could manage multi-currency funds.
Who gains and who loses?
In April, Wise sent verification requests to all customers registered in Thailand. The changes then took effect from 19 May, and those no longer living in the country were asked to update the address in their accounts. The company framed this as part of the transition to a locally licensed operation.
Whether the new structure was truly simpler, or whether the cuts – no ATM access, no foreign-currency accounts, no third-country transfers – outweighed the fresh features, remained an open question. Ultimately, those affected would decide once they made their first transfer under the new rules and compared the experience with the old system.