Quick overview of the remittance options
DeeMoney is a dedicated remittance service, whereas Kasikorn Bank (KBank) and Siam Commercial Bank (SCB) are among Thailand’s largest banks. In Thailand, banks are typically regarded as bureaucratic and slow, but recently, they have introduced their own remittance services that give dedicated remittance providers a run for their money. Such is the case with DeeMoney versus Thai banks’ international transfer services.
DeeMoney vs KBank vs SCB in a head-to-head comparison
| DeeMoney | KBank (via KPlus app) | SCB | |
|---|---|---|---|
| Registration & setup | One-time document registration requiring a passport copy, work permit and a selfie). It may take a few business days to get approved, but the process is pretty straightforward. | No initial registration since you already have a bank account with them but you may be required to provide proof of source of funds & work permit at a later stage (likely after exceeding a certain amount) | |
| Transfer time | Same or next day for most countries. 3-5 business days for the remaining countries. | 1-3 business days (just one day for USD transfers) | Up to 5 business days (typically half a day in practice) |
| Sending limit | 800,000 THB per transaction/day | 100,000 USD or equivalent (There may some variations for certain currencies, check in the app before making a transfer) | Single: 1.5M THB Daily: 1.5M THB Monthly: 5M THB Maximum 20 transfers/month |
| Transfer fee | 125 THB + 7% VAT (133.75 THB in total) | 250+ THB (depending on transfer method – KBank partners or SWIFT) | 199-399 THB (typically 199 THB for USD transfers) |
| Exchange rates | All three offer competitive rates that frequently fluctuate. DeeMoney claims bank-beating rates, but in practice, banks often match or beat DeeMoney’s rates on any given day. | ||
| Interface | Branches, mobile app, website | Mobile app (K Plus); transfers at branches & website may be less advantageous | Mobile app (SCB Easy) |
| Currencies | List of supported countries | List of supported currencies | List of supported currencies |
Similarities
Sending and processing time
Thai banks consistently provide fast transfer times. In my experience, both KBank and SCB deliver transfers quickly for major currencies like EUR and USD, often within a day despite stating 1-5 business days.
Amount received
Recipients receive the full amount in all cases. When sending via KBank’s SWIFT method, they mention there may be an additional charge on the recipient’s side, though I haven’t encountered this in my experience.
Two types of fees
All services charge two types of fees – service fee and exchange rate fee (currency conversion spread).
Service fees
DeeMoney has a slight edge over the banks with the lowest flat fee (133.75 THB vs 199-250 THB for banks). However, the bank fees are competitive, especially for larger transfers where the difference becomes negligible.
Exchange rates
Exchange rates fluctuate daily. Sometimes DeeMoney offers better rates, other times one of the banks does. While the difference is minimal for small transfers, it can become significant with larger amounts.
Differences
Registration and setup
Thai banks are easier to start with because you’ve already undergone due diligence when opening your bank account. You can start sending money abroad right away, though both KBank and SCB may temporarily suspend your transfer service after exceeding a certain amount and request documents such as a work permit and proof of source of funds (payslips, etc.).
DeeMoney requires upfront registration with document submission (passport, work permit, selfie) that takes a few business days to approve. Once registered, all services allow you to transfer funds online without additional paperwork.
Sending limit
Thai banks offer significantly higher sending limits than DeeMoney. KBank allows up to 100,000 USD per transaction, while SCB permits up to 1.5M THB per transaction. DeeMoney’s limits are notably lower at 500,000 THB per transaction with an 800,000 THB daily cap.
User experience and ease of use
All services have mobile apps with slightly different interfaces. DeeMoney lets you input amounts in either THB or foreign currency, whereas banks typically ask for the final amount in foreign currency. Overall, the experience is more or less the same and isn’t a major differentiator.
Currencies supported
Banks support broader currency coverage. KBank currently supports 25 currencies across 150+ countries, compared to DeeMoney’s 57 countries. This information fluctuates, so it’s best to check the lists of supported currencies and countries.
Conclusion
DeeMoney and Thai banks like KBank and SCB all get the job done effectively, though with different strengths.
My recommendation remains the same as in my full article on transferring money out of Thailand:
- For larger transfers above DeeMoney’s sending limit, use Thai banks like KBank or SCB. They both offer higher limits and reliable service.
- For standard transfers, check each service’s exchange rates on the day you transfer, as rates fluctuate and no single provider consistently offers the best rate.
- For currencies DeeMoney doesn’t support, Thai banks are your clear choice with broader currency coverage.
In my experience, I use all three services interchangeably. Since DeeMoney greatly improved their transfer speeds in 2025, all three now deliver fast transfers. While banks charge slightly more (199–250 THB versus 133.75 THB), this difference becomes negligible for larger amounts.
Thai banks perform remittance services so well that DeeMoney faces strong competition. The banks’ advantages (existing account relationships, higher sending limits, broader currency support, and smoother user experience) often outweigh DeeMoney’s lower flat fee.
