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There is difference between “Thank you” and “Thank you very much”

There is difference between “Thank you” and “Thank you very much” but I am understanding incorrectly。What is different?Also, is “Thanks” informal or formal?

For learning: English
Base language: English
Category: Language

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    Thanks is informal, much more quick, maybe used for something small (supermarket checkout).
    Thank you is formal, proper, normal.
    Thank you very much is when someone did something big for you, or you are deeply grateful, and you want to show them that you really mean it, not just being polite.

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