The enemy isn't the fee, it's the rate
Sending money to Thailand comes with a classic magic trick: the bank that advertises a "fee-free" transfer and then slips its margin inside the exchange rate. There's a real rate — the mid-market one, the one you see on Google — and then there's the one you get. The gap between the two is the actual fee, and at a traditional bank it's usually several percentage points, plus a fixed sending charge and, if it goes via SWIFT, whatever the intermediary banks pinch along the way.
To make it concrete: across this site we calculate at ฿38 to the euro. If sending €1,000 gets "shaved" by 3% between a padded rate and fees, that's €30 gone in a single operation. Repeat it monthly for a year and you've paid for a holiday — the bank's. There's one golden rule: don't compare advertised fees, compare how many baht arrive.
Wise, Revolut or your bank: the comparison
| Route | Exchange rate | Cost | Use it for |
|---|---|---|---|
| Wise | The real one (mid-market) | Small fee, itemized before you confirm | Everyday money and mid-size amounts |
| Revolut | The real one on weekdays, within your plan's limit | Weekend markup and a charge past the free allowance | Card spending and occasional exchanges |
| Traditional bank (SWIFT) | Padded by several points | Fixed fee + intermediaries + hidden margin | The documented transfer of a purchase |
| ATM with a foreign card | Your card's (if you decline the ATM's) | Flat fee per withdrawal + your bank's | Occasional cash |
Wise is the benchmark for a reason: it applies the mid-market rate and shows you the exact fee before you send — a fraction of what a traditional bank charges for the same operation. Revolut holds up too, with two pieces of fine print: weekends carry a markup on the rate (more so with the baht, an "exotic" currency for them), and the free plan has a monthly exchange allowance beyond which it charges a percentage. If you move serious money every month, run the numbers on your plan.
The ATM fee: the ฿220 toll
Withdrawing cash with a foreign card in Thailand carries a flat fee per withdrawal, no matter the amount. The classic was ฿220, the standard toll for years, and the trend is upward: in 2026 several banks already charge ฿250 with Visa and up to ฿350 with Mastercard (AEON ATMs are usually the cheap ones). And note, that's the Thai ATM's fee: your home bank may add its own on top.
- If you're passing through: withdraw a lot, rarely. The fee is the same for ฿3,000 as for ฿20,000.
- If your card refunds ATM fees (some fintechs do), put it to work.
- If you live here: the real fix is opening a local account and feeding it with Wise. The toll disappears from the map.
PromptPay: the QR that pays for everything
The cash-or-card debate in Thailand was won by a third party: the QR code. PromptPay is the national instant payment system, and with a Thai account, its app and your local number you pay by scanning at markets, in taxis and at food stalls — places where a foreign card often isn't even accepted. As a foreigner you register with your passport when you open the account, and that's it.
Two limits worth knowing: person-to-person transfers tied to a mobile number are capped at ฿50,000 per operation by Bank of Thailand rules, and your app's daily limit is set inside your own bank. For normal life, it's more than enough. The card stays for malls and hotels; cash, for the stall without a QR — an endangered species.
Large transfers: the FET paper
Everything above is for living. To buy a condo under the foreign quota, the route is different and allows no shortcuts: the money must arrive from outside Thailand, in foreign currency, via international bank transfer, and be converted to baht once inside the country. That trail is what the bank certifies and what the Land Department requires to register the property in your name.
| Requirement | Why |
|---|---|
| Arrives in foreign currency (EUR, USD…) | The conversion to baht must happen in Thailand |
| In your name, with the purpose stated | "Purchase of condominium" documents where it's going |
| From USD 50,000: the FET form | The bank issues it; it's the official proof of the exchange |
| Below that: a bank confirmation letter | Serves the same purpose for smaller amounts |
Practical translation: for the purchase, forget the app and talk to the bank before moving a cent. A transfer split into pieces, or one that arrives already in baht, can leave you without the paper that registers the apartment.
To the Thai taxman, every transfer is a remittance
Here's the angle the fee-comparison guides skip. If you spend 180 days or more a year in Thailand, you're a tax resident, and every route your money takes into the country — the Wise transfer, what you pull from the ATM, what you pay with a foreign card, the cash you carry in — counts as a remittance. Remitted foreign income is taxed in the year you bring it in; savings from before January 1, 2024 come in exempt if you can document them. How to send is this post; how much and what to send, tax-smart, is in the remitted money guide.
Where Bexpat fits in
We don't move your money: we set up your move — visa, flight, arrival and apartment — and leave your bank account on track, which is the piece that turns all of this into routine: Wise into your account, QR for everything and the ATM as a souvenir. If you're still running the numbers on life there, the breakdown is in the cost of living in Thailand.
Frequently asked questions
What's the cheapest way to send money?
For everyday amounts, a real-rate platform like Wise: mid-market rate and a small, itemized fee — a fraction of what a traditional bank charges. Revolut also holds up on weekdays and within your plan's free allowance.
How much does the ATM charge on a foreign card?
A flat fee per withdrawal: the classic was ฿220, and in 2026 several banks already charge ฿250–350 (AEON is usually cheaper). Your bank may add its own. Withdraw a lot, rarely — or open a local account and forget the toll.
Can I pay for a property with Wise?
For a condo under the foreign quota, no: the money must arrive in foreign currency via a documented international transfer. From USD 50,000 the bank issues the FET form; without that paper, the Land Department won't register the purchase in your name.
Do I pay tax on what I send?
If you're a tax resident (180+ days), every transfer counts as a remittance and remitted foreign income is taxed in the year you bring it in. Pre-2024 savings come in exempt with proof. What you don't bring in isn't taxed there.