📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Top Easy Access Savings Discussion Area

1115511561158116011612003

Comments

  • infoadict
    infoadict Posts: 94 Forumite
    Fifth Anniversary 10 Posts Name Dropper
    I had this Source of Wealth check from Chip. Just sent them screenshots of the banks and building society where the money had come from. The blurb says they don't accept screenshots, but they did with me. Took just over a week and got a message saying they do not require any further info.
  • Band7
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    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.
  • Section62
    Section62 Posts: 10,004 Forumite
    1,000 Posts Fourth Anniversary Name Dropper

    Ford Money Flexible Saver 3.1% effective today.


  • AmityNeon
    AmityNeon Posts: 1,085 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    edited 16 March 2023 at 9:34AM
    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
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    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.
  • 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
    pearl123 Posts: 2,082 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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
    OceanSound Posts: 1,482 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    pearl123 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
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    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.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.7K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.