{"id":526970,"date":"2024-04-19T10:49:06","date_gmt":"2024-04-19T09:49:06","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=526970"},"modified":"2025-11-28T11:04:07","modified_gmt":"2025-11-28T11:04:07","slug":"kroo-vs-monzo","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/current-accounts\/kroo-vs-monzo","title":{"rendered":"Kroo vs Monzo: Which is the best?"},"content":{"rendered":"

Monzo was founded in 2015, while Kroo followed a year later, having been established in 2016. Monzo offers a number of personal current accounts and business accounts, while Kroo only offers one personal current account. Let\u2019s take a closer look at how their personal accounts compare.<\/p>

Kroo vs Monzo: Vital statistics<\/h3>
\n \n
<\/th>\"Kroo<\/a><\/td>\"Monzo<\/a><\/td><\/tr>
Finder score<\/th>7.1<\/span><\/span>Great<\/span><\/span><\/td>9.8<\/span><\/span>Excellent<\/span><\/span><\/td><\/tr>
Customer satisfaction survey<\/th>4.1 <\/span>
\u2605\u2605\u2605\u2605\u2605<\/div><\/td>
4.4 <\/span>
\u2605\u2605\u2605\u2605\u2605<\/div><\/td><\/tr>
Free spending abroad<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Arranged overdraft<\/th>N\/A<\/td>19%, 29% or 39% EAR<\/td><\/tr>
Representative example<\/th>N\/A<\/td>If you use an arranged overdraft of \u00a31,200, you'll be charged interest at 39% EAR variable. Account fee of \u00a30<\/td><\/tr>
Interest when you're in credit<\/th>3.65%<\/td>0%<\/td><\/tr>
Branch access<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
FSCS protected<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Sign-up bonus<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Amount<\/th>N\/A<\/td>N\/A<\/td><\/tr>
Product image<\/th>
\"Kroo\"<\/td>		\"Monzo\"<\/td><\/tr>
Find out more<\/th>
Read review<\/a><\/div><\/td>
Go to site<\/a>
Read review<\/a><\/div><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Neither Kroo nor Monzo have bank branches, so you\u2019ll need to manage your current account via their respective apps. Kroo offers a black, contactless card, while Monzo\u2019s free account comes with a distinctive coral-coloured card. <\/p>

Both Kroo and Monzo have a UK banking licence, which means customer funds are protected up to \u00a3120,000 per person under the Financial Services Compensation Scheme (FSCS) if the bank goes bust. <\/p>

Both banks offer an overdraft, but while Kroo charges 39.9% EAR, the rate you\u2019ll get with Monzo depends on your credit score and personal circumstances and ranges from 19% to 39% EAR. <\/p>

Kroo also pays interest on in-credit balances, while Monzo doesn\u2019t. <\/p>

Round 1: App features<\/h3>
\n \n
<\/th>\"Kroo<\/a><\/td>\"Monzo<\/a><\/td><\/tr>
Visual breakdown of spending<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Spending categories<\/th>12<\/td>17<\/td><\/tr>
Set spending budgets<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Set up direct debits in the app<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Top up via bank transfer<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Have salary paid in<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Separate savings accounts<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Round-ups<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Customer service via the app<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Customer service via a telephone line<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Cheque scanning<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Freeze\/unfreeze card in app<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Send money abroad<\/th><\/use><\/svg><\/td><\/use><\/svg><\/td><\/tr>
Fee for sending money abroad<\/th>N\/A<\/td>When sending through Monzo, a fixed fee of between 50p and \u00a32.68, plus a variable amount between 0% and 1.30%. For currencies Monzo can't support, Wise sets the fee.<\/td><\/tr>
Find out more<\/th>
Read review<\/a><\/div><\/td>
Go to site<\/a>
Read review<\/a><\/div><\/td><\/tr>\n <\/tbody>\n <\/table><\/div>

Although the Kroo and Monzo mobile banking apps offer a number of similar features, Monzo\u2019s app is a little more comprehensive. Both apps let you view a breakdown of your spending, set up direct debits and establish savings goals or savings pots to help you save towards something in particular. <\/p>

However, unlike Kroo, Monzo\u2019s app also enables you to set spending budgets for things like groceries and going out, and you\u2019ll get warnings if you\u2019re spending too fast. It also offers a round-ups feature where spare change from your transactions can be \u201crounded up\u201d and moved to your savings pot, and you can send money abroad if you need to.<\/p>

You can pay your salary into either your Kroo or Monzo account through the app, freeze or unfreeze your card and contact customer service teams through the in-app chats.<\/p>