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July 18, 2022

DeeMoney vs KBank: Comparing two best services for sending money out of Thailand

If you have read my previous article about transferring money out of Thailand, you will already know that DeeMoney and KBank’s International Money Transfer service were two of the best ways (at least in my personal experience) to send money overseas. In this article, I will go into more detail about their similarities and differences and why you might want to go with one or another.

Last updated:
July 18, 2022

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Quick overview

DeeMoney is a dedicated remittance service whereas Kasikorn Bank (also known as KBank) is Thailand’s second-largest bank (privately-owned). In Thailand, banks are typically regarded as bureaucratic and slow, but recently, they have been introducing services that give remittance services a run for their money. Such is the case with DeeMoney and KBank’s International Transfer Service.

Note: KBank offers multiple ways to send money overseas, but we will only focus on their Global Money Transfer service available in the KPlus app as it offers the best deal.

DeeMoney vs KBank: Head-to-head comparison

DeeMoneyKBank (via KPlus app)
Registration & setupOne-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 straightforwardNo 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)
Lead timeNext day for 29 countries where DeeMoney Next is available. 3-5 business days for the remaining countries.1-3 business days (just one day for USD transfers)
Sending limit24,000 USD / 18,000 GBP / 20,000 EUR per transaction but not more than 800,000 THB per day50,000 USD or equivalent*

*There may some variations for certain currencies, check in the app before making a transfer

Service fees250 THB per transfer (there was special pricing of 125 THB until March 31st, 2022) + 7% VAT250 THB per transaction until the end of 2022 and 450 THB afterwards.
Exchange ratesBoth offer competitive rates, but relative to each other, they frequently outdo the other service in providing the best exchange rate.
InterfaceBranches, mobile app, websiteMobile app (K Plus ); transfers at branches & website may be less advantageous
CurrenciesSupports 18 currencies &
Supports 14 currencies & 32 countries*


*Funds can be transferred with one of the 16 objectives, Senders must be individuals while recipients can be individuals or corporate entities. 


Lead time

There’s a chance that DeeMoney will beat KBank at transferring less common currencies, but their lead time is more less the same and virtually identical for USD transfers.

Amount received

Recipients will receive the full amount in both cases.

Two types of fees

Both services charge two types of fees – service fee (see below) and exchange rate fee (currency conversion spread).

Services fees

DeeMoney has a slight edge over KBank (125 THB vs 250 THB) currently, but both services state their current pricing will be increased soon – DeeMoney will officially charge 250 THB per transfer after 31st March 2022 (although in April 2022, it still charges 125 THB) and users of Kasikorn Bank will see their transfer fee increase to 450 THB starting from 2023. Services fees are added on top of the sending amount.

Exchange rates

This information changes daily. On some days, DeeMoney beats KBank; on others, KBank offers a better deal. Regardless, the difference is usually negligible when sending small amounts but can be pronounced at larger transfers.

Remittance partner

Both services use Instarem as their remittance partner for transfers to USD and possibly other currencies (it will show up on your account as a payment by Instarem).


Registration & setup

KBank is easier because you have already undergone the due diligence when opening your bank account as an account holder. Even though you can start sending money abroad right away, KBank may temporarily suspend your transfer service after exceeding a certain amount. It will require you to provide documents such as a work permit and proof of source of funds (payslips etc.). After registration (in DeeMoney’s case), each service allows you to transfer funds online without additional paperwork.

Sending limit

KBank’s sending limit per transaction is approximately twice as big as DeeMoney’s. DeeMoney’s imposed daily limit is still significantly smaller than the cap for a transaction at KBank.

User experience & ease of use

Both services have mobile apps, and perhaps the most significant difference is how you initiate the transfer. In DeeMoney, you can type in the amount in both THB and the foreign currency, whereas KBank will ask you to key in the final amount in foreign currency.

Besides this minor inconvenience, Kbank’s been the smoother service in my experience. DeeMoney surprises me with bugs and sloppy user experience from time to time. One of the buggiest parts is the forms when setting up a recipient. For example, the forms allow you to select a US state in the address and then select a different country, say the UK.

Moreover, my nationality is still missing in the list of recipient countries despite pointing this out to the customer service twice (I just chose a neighbouring country, and the transfers still work, so it’s not very important). But perhaps one of the biggest pet peeves of DeeMoney is their claim of providing bank-beating exchange rates. As you can see from the overview above, that’s not always the case.

Currencies supported

DeeMoney supports a few more currencies & countries than KBank’s service.


Both DeeMoney and KBank get the job done and are largely interchangeable despite their differences.

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 KBank (provided they support the currency). Otherwise, check each service’s service fees & exchange rates before making a transfer. On some days, KBank will come on top; on others, DeeMoney will be the better choice. Of course, if you want to send money in a currency that KBank does not support, then DeeMoney is a clear choice.

Do you know any other service or bank that rivals DeeMoney and KBank in sending money overseas fast and cheap? Please share your experience.