In February 2026, Wise announced a significant change for customers in Thailand. Starting 19 May 2026, Thai-based accounts will move under Wise’s Thailand entity, regulated by the Bank of Thailand.
The change comes with both upsides and downsides. On the positive side, you’ll be able to use Wise for PromptPay transfers and QR code payments. On the negative side, the multi-currency functionality becomes more complicated and more expensive. Here’s a clear breakdown of what’s actually changing, and who it affects.
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What’s Actually Changing
If your Wise account is registered in Thailand, it will now be managed locally under Thai financial regulations, meaning Wise must comply with Bank of Thailand rules.
New Benefits for Thailand-Based Users
The update brings several meaningful improvements for people based in Thailand:
- You can now send THB overseas
- You can top up Wise directly from a Thai bank account
- You can transfer to PromptPay IDs
- You can scan QR codes to pay at local merchants, including smaller shops that don’t accept credit cards
- You can order a physical Wise card delivered to a Thai address
- You can get digital cards for online payments
This is a notable upgrade for two groups in particular.
First, anyone who regularly needs to send Thai Baht overseas will benefit. Right now, that process is genuinely difficult. Bank transfers can be expensive for smaller amounts, and other options are limited.
Second, people who need to make local payments in Thailand will find that Wise now functions much more like a local bank account.
Major Disadvantages of the New Changes
While Wise improves for local payments and sending THB abroad, it takes a step back when it comes to handling multiple currencies.
No more direct foreign currency transfers
Previously, you could send or receive money between currencies directly. After May 2026, everything must be converted to THB first.
- So if you want to send USD to a SGD account, the path becomes: USD to THB to SGD.
- Even sending USD to your own USD account requires a conversion: USD to THB to USD.
That’s two conversions and two sets of fees, which means higher overall transfer costs.
Incoming foreign currency converts automatically to THB
If someone sends you USD, EUR, GBP, or any other foreign currency, you can no longer hold it in your multi-currency balance and wait for a favourable rate. It will be converted to THB immediately, removing your flexibility to time conversions strategically.
No ATM withdrawals inside Thailand
This applies specifically to Wise cards ordered in Thailand, which is mainly relevant for Thai citizens. That card won’t work at Thai ATMs, though it can still be used to withdraw cash abroad.
For expats who already have a Thai bank account and ATM card, this won’t matter much. However, if you’re a digital nomad who relies on withdrawing cash from ATMs in Thailand using your Wise card, you’ll need to order your card from outside Thailand to keep that ability.
How Much Does This Actually Matter?
It depends on your situation. The changes are a step forward if you:
- Don’t have a Thai bank account and need to make local transfers (this applies to many digital nomads and tourists)
- Regularly need to send Thai Baht overseas
The changes are a downgrade if you:
- Manage multiple currencies regularly, since more fees and conversion steps are now involved
- Receive money in Thailand and prefer to hold it in a foreign currency before converting
If you already have a Thai bank account, the local payment improvements won’t change much for you since you can already do all of this through your existing bank.
What to Do Next
Wise has stated on their official website that they will send verification documents to affected users ahead of the change, though full details are yet to be disclosed. We will update this article once more information becomes available.
For now, this change affects those living in Thailand. If you rely on Wise for multi-currency management or receiving foreign currency, it’s worth planning ahead before May 2026.
For the full official details, you can read Wise’s announcement here.
