Kroo bank discussion

Nick_C

Kroo must be swamped, with advance notice of 3% interest and £20/£21 cashback from TCB, but so far it's been a smooth experience for me.

Account was opened quickly and easily on my Android phone.  The debit card arrived in less than 2 days. 

I've had no problem funding or withdrawing.  I've put in just shy of £6k in three transactions, and withdrawn £1k in two transactions.

I like the fact they are checking names when you set up an outdoing payment. 

For me the account is not quite as good as Chase overall as it lacks the 5pc round up account and DC cashback, and the free ATM withdrawals when in the US.

I like the fact that I don't have to move money between a current and savings account if I use the debit card.

Security checks on new customers are all too common.  Trying to get my Barclays Blue Rewards account up and running was a nightmare.  Every payment I attempted initially was blocked requiring a 30 minute phone call.

I will continue using Kroo on parallel with Chase. 

Competition is good for the consumer.  Looking at a recent email from Chase, I sense they will be following Kroo with a single current account paying a good rate of interest. 

Angelica123

I found it relatively straightforward to open an account - it was opened quickly and received my card within a few days. No problems with transfers into or out of the account. The app hasn't been the most reliable though. My phone isn't the newest but I haven't had other banking apps freeze on me but have had that occasional happen with Kroo. My current plan is to use it as a feeder account for my regular savers 

SanguineOnSaturn

How to I go about choosing where my two trees get planted?

StevenGude

SanguineOnSaturn said:

How to I go about choosing where my two trees get planted?

If you could specify my garden, that would be ace.

On a serious note, cashback on TCB tracked fine but app seems very temperamental.

NotWhereIWantToBe

I am still waiting for my account to be opened - applied 12 days ago so I think I will stick to Chase and Chip !

SanguineOnSaturn

I think the lack of CoP with kroo means it's harder to add them as a nominated account. With zopa I had to upload a statement but it was done via the in app messaging and happened quite quickly. With Atom when I try add kroo as a nominated account I just get 'an error has occured'. Speaking via chat they eventually asked me to email a statement to their customer support (not very secure?] but whilst I was faffing with my email it logged out of atom and the chat isn't saved so I lost the email address. I've got bored for now but I might try again later. According to kroo CoP is on the list for future, but no timescales I can see.

I was interested in opening a tandem account but I expect I might have similar issues.

AmityNeon

SanguineOnSaturn said:

I was interested in opening a tandem account but I expect I might have similar issues.

Tandem uses open banking for account linking so it's simple, secure and fast. No statement or any other additional proof is required.

SanguineOnSaturn

But suspect kroo isn't open banking compatible either?

k500zm

Applied for or a kroo bank account 10 days ago and I've heard nothing from them at all all first time I called them after 5 working days and they told me it would take 7 working days then I called them this morning 10 days in total after I applied and they told me it actually takes 14 days. Reviews tell of people who have had their money suspended in Cyberspace for days while payments are reviewed which takes days and no interest.

People you talk to you on the phone of are brainless and have no empathy or give a toss.

Avoid this bank don't even bother applying there is no point. 

masonic

SanguineOnSaturn said:

But suspect kroo isn't open banking compatible either?

Kroo does support open banking, but this probably won't be of much use when wishing to set it up as a nominated account for most of the top savings providers.