How to use Wise to Transfer money to Thailand?

I’m trying to transfer money to my Thai GF Bank account with Wise as PayPal doesn’t work anymore?

I’m reading it’s super cheap and all.

However I would have to pay way more fees than using PayPal. At PayPal when paying in Thai Baht and sending e.g. 2000€ I paid around 140 Baht and got the exchange rate from VISA which is slightly bellow the live rate.

When converting 2000€ via Wise I get a slightly better exchange rate but have to pay about 450 Baht in Fees and then have to pay a fee for transferring the money.

So what am I missing? Or is it really that expensive?

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