Independent BankAdvisor review
Kroo Overview
Kroo is a UK app-only bank focused on simple everyday banking, fee-free spending abroad, variable interest on current account balances, and a clean app experience. It combines a free current account with sustainability-led values, a Flexible Cash ISA, personal loans, and useful social spending…
Quick facts
FSCS protection
Protected up to £120,000
Trustpilot rating
4.1 / 5
Monthly fee
£0
Current account
Yes
Account summary
Key features
| FSCS Protection | Yes — eligible deposits are protected up to £120,000 per person |
| Monthly Fee | £0 - no monthly fee for the personal current account |
| Current Accounts | Yes — Personal current account with a Mastercard debit card and variable interest on balances |
| Savings Accounts | Kroo pays up to 3.00% AER variable on current account balances (3.00% for new customers from 5 Oct 2026, 2.65% for existing customers) and offers a Flexible Cash ISA paying 3.00% AER variable. Rates can change. |
| Credit Card | Not offered — Kroo currently focuses on debit card banking, current accounts, savings, lending, and overdrafts |
| Spending Abroad | Fee-free from Kroo - no Kroo fees on card purchases or ATM withdrawals abroad. Mastercard exchange rate applies and ATM operators may charge their own fees. |
| App Features | Spending insights, real-time notifications, Pots, bill splitting, card controls, and in-app support |
| Loans | Yes — personal loans are available through Kroo Lending, subject to eligibility and credit checks |
| Overdraft | Yes — arranged overdraft available subject to eligibility, with representative 39.9% EAR variable |
| Top Feature | Variable interest on current account balances: 3.00% AER for new customers (from 5 Oct 2026), 2.65% AER for existing customers, with interest paid on balances up to £500,000 |
Kroo at a glance
- Kroo is a small app-only bank built around one idea: pay interest on the current account balance itself, rather than making you move money into a savings pot to earn anything. It is a certified B Corp structured as a public benefit corporation, so how it operates is audited alongside what it charges.
- The account is free, Kroo adds nothing of its own to card spending abroad, and there are Pots and bill splitting for shared costs. What it lacks is breadth. This is a bank that does a handful of things rather than everything.
Kroo services
Kroo covers everyday banking and little else: a current account with a Mastercard debit card, interest paid on the balance, Pots, bill splitting, a Flexible Cash ISA, personal loans through a separate lending arm, and an arranged overdraft for customers who qualify.
There are no joint accounts, no business banking, no international transfers and no cashback. The missing joint account is the one that catches people out — housemates and couples can split bills inside the app, but they cannot hold an account together.
May suit
- OKPays variable interest on current account balances
- OKInterest paid on current account balances up to £500,000, although FSCS protection only applies up to the protected limit
- OKNo monthly current account fee
- OKFee-free spending abroad from Kroo
- OKFlexible Cash ISA available
- OKPersonal loans available through Kroo Lending
May not suit
- !No cashback or rewards programme
- !No joint accounts currently available
- !No business banking
- !No international money transfer service
- !Smaller product range than larger banks
- !Interest rate is variable and subject to change
Our Assessment of Kroo
We like Kroo because it combines simple everyday banking with sustainability-led values and useful money features. It pays variable interest on current account balances, offers a Flexible Cash ISA, charges no monthly current account fee, and does not charge its own fees for card spending abroad.
Continue Reading
Continue with the Complete Kroo Review
You've read the summary. Our Complete Review examines the account in much greater detail, helping you understand how it performs in everyday banking before you decide.
- Detailed feature analysis
- Fees and charges explained
- Everyday banking experience
- Account strengths and limitations
- Protection and eligibility
- Comparison with similar UK banks
How Kroo compares
Compared with other UK app-only banks, Kroo is strongest for users who want a simple current account that pays variable interest on balances, plus fee-free spending abroad from Kroo and sustainability-led values. It is less suitable for users who need joint accounts, business banking, international transfers, cashback, investments, or a wider product range.
Financial Information Disclaimer
The information on this website is provided for general guidance only and may not always reflect the latest fees, rates, or terms offered by each bank. While we do our best to keep content accurate and up-to-date, you should always check the bank's official website or app before applying for an account. Nothing on this site constitutes financial advice.
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