Kroo review: A UK-based social banking app
- Account fee
- £0
- Interest (AER)
- 3.15% AER
- Overseas card transactions
- 0%
Our verdict
Kroo pays interest of 3.15% AER. Plus, it's handy for holidays or splitting dinner. No more “forgetting” to transfer, Matt.
Getting decent interest on your current account is a plus. Kroo's rate is the highest we found outside of intro bonus rates so we've picked it as the best account for in-credit interest. The slick app lets you easily split bills and pay friends, and as long as you're happy to conduct all your banking through an app, with fee-free spending abroad included, Kroo has a lot to offer.
Pros
-
Free to use
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In-credit interest
-
No fees for using card abroad
-
2 trees planted for every new customer
Cons
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Can only be accessed through the app
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No branches or face-to-face support
Details
Product overview
| Account name | Current Account |
| Provider | Kroo Bank Ltd |
| Account fee | £0 |
| Interest (AER) | 3.15% AER |
| ATM withdrawal limit | £300 |
| Debit network | Visa |
| Card type | Debit |
| Minimum eligibility age | 18 Years |
| Minimum operating balance | £0 |
| Minimum opening balance | £0 |
| Direct debits | |
| Current account switch guarantee | |
| Cheque Book |
Fees
| Currency conversion withdrawal for overseas cash withdrawal in Europe (EEA) | £0.01 |
| Currency conversion withdrawal for overseas cash withdrawal in non-Europe (EEA) | £0.01 |
| Foreign cash transaction fee in Europe | £0 |
| Foreign cash transaction fee in rest of world | £0 |
Overdraft information
| Arranged overdraft available |
How we scored Kroo
| Feature | Rating | Details |
|---|---|---|
| App rating | 9.6 Excellent | Kroo scores highly across the App Store and Google Play. |
| Monthly fees | 10 Excellent | Kroo is free to use, with no monthly fee. |
| Transaction fees | 9.3 Excellent | There are no transaction fees with Kroo. |
| Overseas fees | 10 Excellent | Fee-free spending abroad. Fee-free overseas ATM withdrawals limited to £200 a month. |
| Customer service | 7.5 Great | Kroo scored just above average for customer satisfaction. |
| Green credentials | 7.5 Great | Kroo was not included in the Finder Green Banking Awards. |
| Account access | 5 Standard | Account access is limited to the mobile app only. |
| Payment features | 5 Standard | Kroo’s payment features are limited to direct debits and standing orders only. |
| Extra features | 8 Great | Benefit from spending categories, an overdraft and in-credit interest. |
What is Kroo?
Kroo offers a free, digital-only FSCS-protected current account and debit card, to help manage personal and social spending. Its current account has a monthly interest rate. Provided you meet the eligibility Kroo also offers a single rate overdraft.
The app offers detailed spending insights and the card won’t charge foreign exchange fees when spending money or withdrawing cash overseas. After 30 April 2024, Kroo will start charging a fee for cash withdrawals of more than £200 a month while abroad.
The bank says it’s committed to planting 2 trees for each new customer.
Kroo’s offer if simple yet effective, with just one product to choose from in the form of an interest-paying current account.”
How does it compare with other popular banking apps?
How does it work?
Kroo is a digital-only bank which has one main product, its free current account which can be opened through the app.
The current account has simple features to help you manage your money.
- Fee free. It is free to open a Kroo current account and there are no ongoing account management fees.
- Tracker interest rate. Kroo’s monthly interest rate tracks 0.90% below the Bank of England base rate, meaning every time the base rate changes, so will the interest you earn. You can also earn interest on balances up to £500,000.
- Arranged overdraft. Kroo offers a single rate on overdrafts which are subject to eligibility and by invitation only.
- Spending abroad. There are no fees for purchases made abroad when you use your Kroo card.
- ATM withdrawals abroad. As a promotion, Kroo won’t charge you for using ATMs overseas until April 2025. Just bear in mind that many ATM providers may charge a separate fee for using their ATM.
- Shared expenses. You can create different groups with friends or family to manage shared spending such as bills or splitting the cost of a holiday.
- Pots. Kroo offers Pots which can help you separate your day-to-day spend from your savings.
Kroo offers fingerprint and Face ID security features, as well as the option of freezing and unfreezing the card if you lose it. Plus, when you open a Kroo current account, Kroo promises to plant 2 trees, and you get to choose where they are planted.
Is Kroo Bank safe?
Kroo is a licensed bank, meaning that up to £85,000 deposited in its current account will be protected by the Financial Services Compensation Scheme (FSCS) if Kroo were to go bust. It also means you could complain to the Financial Ombudsman about its bank services.
PayrNet Limited, which issues the Kroo card, is authorised by the Financial Conduct Authority (FCA). Under the Electronic Money Regulations 2011, PayrNet must hold your money in a segregated account which is protected by safeguarding requirements. This means that should PayrNet Limited become insolvent, your funds will be protected against claims made by creditors.
"I was in the middle of buying a house and needed somewhere to put money for the short-term. Kroo had the highest interest rate I could find for a current account. I also really like Kroo’s app and debit card design.
If there’s one thing you’d tell a friend who’s thinking of getting this, what would it be?
That Kroo pays a competitive rate of interest on your current balance all the way up to £500,000."
Customer service information for Kroo
| Email support | |
|---|---|
| Telephone support | |
| In-app or live chat | |
| Contact form | |
| Branch support |
Kroo customer reviews
In our independent 2025 customer satisfaction survey, 83% of Kroo’s users said they’d recommend the brand to a friend.
Kroo has also received highly positive reviews from its customers, according to customer review site Trustpilot. It currently has a score of 4.3 out of 5 from more than 10,800 reviews (updated April 2025), giving it an “Excellent” rating. Those who rated it highly commented on the user friendly app and helpful customer service, as well as the easy application process.
Those customers who gave the bank a lower rating said they had problems opening their account and difficulty contacting the customer service team.
On the App Store, Kroo has a rating of 4.8 out of 5 from more than 23,600 reviews. It has a rating of 4.7 out of 5 from more than 9,800 reviews on Google Play (updated April 2025).
Frequently asked questions
