The Top Easy Access Savings Discussion Area

Band7

boomish said:

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

refluxer said:

boomish said:

I got an email from Chip asking to complete a Source of Wealth form, I presume this information is kept private by the bank? Any advice on this? I presume this is normal anti money laundering rules stuff

It is presumably to do with anti money laundering, but it definitely isn't what I would call normal. I've moved large sums of money between dozens of different banks over the years and have never once been asked to prove where the money has come from.

It seems to be normal for CHIP. Myself and others had the request, and it seems to be straight forward to satisfy their request for information. I provided them with proof of my income, and a written explanation of how my savings have accrued. Others just provided a screenshot of the savings accounts their money originated from. CHIP also need "encouraging" (!) to look at the net deposits people made, not simply ignoring the withdrawals, which they seem to have done, at least in some cases.

It's different for everyone - but in all cases, you just have to provide them with an explanation where your money came from.

flaneurs_lobster

Kroo going to 3.33% on April 1st.

Get 3.33% AER / 3.28% Gross (variable) on your current account balance up to £85,000 from 1 April 2023.
The rate is 3.03% AER / 2.99% Gross (variable) until 31 March 2023.

https://www.kroo.com/ 

Section62

Ford Money Flexible Saver 3.1% effective today.

https://www.fordmoney.co.uk/savings-products/flexible-saver

AmityNeon

Kroo will be increasing their current account interest rate to 3.33% from 1st April, according to the becleverwithyourcash newsletter today, also reported by Daily Express.

(Kroo hasn’t managed to resolve their growing pains, judging by their twitter replies. People seem to be waiting weeks for account opening and in-app support responses, and their tendency to potentially hold incoming payments probably persists.)

Band7

AmityNeon said:

Kroo will be increasing their current account interest rate to 3.33% from 1st April, according to the becleverwithyourcash newsletter today, also reported by Daily Express.

(Kroo hasn’t managed to resolve their growing pains, judging by their twitter replies. People seem to be waiting weeks for account opening and in-app support responses, and their tendency to potentially hold incoming payments probably persists.)

Been trying to close my Kroo account since Feb 2. They are incapable of doing that. They put a block on outgoing payments and my card but they won’t pay me my outstanding interest. Their CS is hopeless.

flaneurs_lobster

Band7 said:

AmityNeon said:

Kroo will be increasing their current account interest rate to 3.33% from 1st April, according to the becleverwithyourcash newsletter today, also reported by Daily Express.

(Kroo hasn’t managed to resolve their growing pains, judging by their twitter replies. People seem to be waiting weeks for account opening and in-app support responses, and their tendency to potentially hold incoming payments probably persists.)

Been trying to close my Kroo account since Feb 2. They are incapable of doing that. They put a block on outgoing payments and my card but they won’t pay me my outstanding interest. Their CS is hopeless.

Opened Kroo account in less than an hour the day after they announced their 3% current account. Card arrived 2 days later. Since then I've put 5-figure sums in and out, longest delay was less than an hour. 

I've had no cause to trouble their CS.

Just saying.

pearl123

flaneurs_lobster said

Opened Kroo account in less than an hour the day after they announced their 3% current account. Card arrived 2 days later. Since then I've put 5-figure sums in and out, longest delay was less than an hour. 

I've had no cause to trouble their CS.

Just saying.

Reviews are not good, especially about the app. 

OceanSound

pearl123 said:

flaneurs_lobster said

Opened Kroo account in less than an hour the day after they announced their 3% current account. Card arrived 2 days later. Since then I've put 5-figure sums in and out, longest delay was less than an hour. 

I've had no cause to trouble their CS.

Just saying.

Reviews are not good, especially about the app. 

Where are these reviews?

Band7

flaneurs_lobster said:

Band7 said:

AmityNeon said:

Kroo will be increasing their current account interest rate to 3.33% from 1st April, according to the becleverwithyourcash newsletter today, also reported by Daily Express.

(Kroo hasn’t managed to resolve their growing pains, judging by their twitter replies. People seem to be waiting weeks for account opening and in-app support responses, and their tendency to potentially hold incoming payments probably persists.)

Been trying to close my Kroo account since Feb 2. They are incapable of doing that. They put a block on outgoing payments and my card but they won’t pay me my outstanding interest. Their CS is hopeless.

Opened Kroo account in less than an hour the day after they announced their 3% current account. Card arrived 2 days later. Since then I've put 5-figure sums in and out, longest delay was less than an hour. 

I've had no cause to trouble their CS.

Just saying.

I was enthusiastic about Kroo, and a very early adopter of their current account. I got lots of my friends to sign up, too. Then they started the nonsense of holding up incoming payments coming from my own accounts at other banks, and sometimes taking an entire day over checking whatever it is they are checking.

Their processes might be acceptable to you but they aren’t for me.

Just saying.

jaypers

I won’t touch Kroo. Just don’t feel comfortable about them, especially with all of the reported technical issues.Just not convinced that they are set up for high demand.