Using Wise for Property Purchases and Long-Term Stay Visa Applications and Renewals in Thailand

Wise makes it simple and affordable for foreigners living in Thailand to move money from overseas to their Thai bank accounts — always at the real mid-market rate (the same rate you see on Google) and with no hidden fees.

This can be particularly beneficial for foreigners looking to purchase property in Thailand, or are living in Thailand on a long-term stay or retirement visa.

In this article, we will explain some additional steps you may need to take after receiving your Wise transfer, to obtain a proof of international transfer for your property purchase or renew/extend your long term visa.

Tl;dr

• If you use Wise to move money from overseas into Thailand, you can obtain a Proof of Foreign Exchange Transaction (FET) or Credit Advice from your bank in Thailand.
• These documents can then be submitted to the Department of Land (for property purchases) or to immigration authorities (for visa application and renewal)
• Don’t worry if your Wise transfer appears as a domestic deposit instead of an international fund transfer. Your bank will still be able to issue the above documents to you

What Is a Proof of Foreign Exchange Transaction (FET) document?

A Proof of Foreign Exchange Transaction (FET) document is an official document issued by banks and specialized financial institutions licensed by the Bank of Thailand, to confirm remittance of foreign currency into Thailand for a specific purpose — such as property purchase.

Before 2018, this document was a standardised form known as the Foreign Exchange Transaction form (FETF) or “Thor Tor 3”, and was only issued for transactions of US$50,000 and above. However, since 2018, banks can issue this document for any transaction amount. There is no longer a standardised template for this document, as long as your bank includes the following information:

1. Identity of the transaction requester
2. The amount of money transferred
3. The exchange rate used
4. The transaction date
5. The specific purpose of the transaction.

Note that some banks may still use the old FETF template for this document. This is still considered valid and will be accepted by the Department of Land.

For foreigners buying a condominium in Thailand, a Proof of Foreign Exchange Transaction (FET) document is mandatory and needs to be submitted to the Department of Land before it can register the property under a foreign buyer’s name.

To obtain a Proof of Foreign Exchange Transaction, you must:

• Transfer the purchase funds from overseas in foreign currency.
• Request and receive the FET Certificate from your receiving Thai bank.
• Present it to the Land Department when transferring property ownership.

What Is a Credit Advice?

A Credit Advice is a document issued by your receiving Thai bank to confirm that international funds have been credited to your account. It acts as a detailed receipt, listing the sender’s bank, currency, and transaction information.

Foreigners staying in Thailand long-term (for example, on a retirement, marriage, or investment visa) may need to show Credit Advice(s) to immigration authorities as proof that they are receiving overseas remittances to support their stay.

How Your Wise Transfer May Appear on Your Bank Statement

Most Wise transfers to Thai bank accounts are recorded as “International Fund Transfers” (FTT). However, in some cases, your transfer may appear as a domestic deposit — for example, showing up as “Deposit/Transfer via e-Channels IB - Internet Banking” or “DEP TRF FR E-CH” in your bank statement or online banking portal.

This happens because of how Wise operates: when you send money, Wise uses local banking partners to deliver your funds within Thailand. The money doesn’t actually cross borders — it’s paid out locally — which means it may not register as a foreign transaction in the receiving bank’s system.

While this setup helps your transfers arrive faster and with lower fees, there are situations where you might need to prove that your funds were sent from abroad — for example:

• When purchasing a condominium in Thailand
• When applying for or renewing a long-term stay visa with Thai immigration authorities

In such cases, you can request official bank documentation — a Credit Advice or a Proof of Foreign Exchange Transaction (FET) document — from your Thai receiving bank to verify that your funds were remitted from overseas.

How to Obtain a Credit Advice or Proof of Foreign Exchange Transaction (FET) document

You’ll need to contact your receiving Thai bank — the bank account that received your Wise transfer — to request the document.

For instance, if you have sent money from your U.S. bank to your Bangkok Bank account in Thailand using Wise, you should approach Bangkok Bank to obtain the Credit Advice or FET document.

What Documents Does My Bank Require to Issue This Document?

Each Thai bank has its own process and requirements for issuing Credit Advices or FET documents. We recommend contacting your bank directly to confirm:

• The documents you need to bring along
• Any fees charged for issuance
• The specific branch that can issue the document (since not all branches are authorised)

You’ll typically need to visit the branch in person so the bank can verify your identity and confirm the transaction details before issuing the document.

Key Takeaway

While Wise makes it easy to send money into Thailand quickly and affordably, some transactions may appear as local transfers due to how our system works. If you ever need proof that your funds came from abroad — for property purchases or visa applications — simply request a Credit Advice or FET document from your Thai bank.