Wise, the popular international money transfer service, has received full regulatory approval to operate locally in Thailand, becoming the first non-bank to secure all five necessary licences from the Bank of Thailand and the Ministry of Commerce.

From May 2026, Wise will operate its services in Thailand through a new locally licensed Thai company and introduce a full range of enhanced features. This development is particularly welcome for foreigners living in Thailand. It is especially helpful for villa owners, resort operators, and investors on Koh Chang where traditional banking options continue to shrink.

What’s New with Wise in Thailand

Starting mid-May, users in Thailand will have access to:

  • Local Thai baht funding directly from Thai bank accounts
  • Thai baht-funded international transfers at the real mid-market rate
  • PromptPay integration for instant domestic payments
  • Thai QR code payments
  • Physical and virtual Wise cards usable in Thailand and worldwide

In effect, Wise is introducing Thailand’s first fully digital multi-currency wallet, allowing users to send, receive, hold, and spend money in dozens of currencies all from a single app.

Why This Matters on Koh Chang

Banking on the island has become increasingly challenging in recent years. Branches closed during the COVID period and recent closures, including the shutdown of Bangkok Bank in White Sand Beach, have left residents and business owners with limited in-person options.

For villa owners, guesthouse operators, long-term renters, and property investors on Koh Chang, the new Wise service offers practical relief.

Key benefits include:

  • Receiving rental income in THB and converting it instantly to EUR, USD, GBP or any other currency with low, transparent fees
  • Paying suppliers, staff salaries, or overseas mortgage payments directly from the app
  • Funding the Wise balance locally and avoiding high international transfer charges
  • Using a Wise card for daily expenses on the island or while travelling abroad

Foreign property buyers will also find the service helpful when moving larger sums for deposits or full payments (always in coordination with your lawyer and the Land Office for official documentation requirements).

Source: Wise Official Press Release