Kroo bank discussion

masonic

ZeroSum said:

So are they offering anything for me to get this account? Can't see anything 

Other than possibly some interesting and novel account features, I don't know either. But I love to join a queue

jasonwatkins

masonic said:

ZeroSum said:

So are they offering anything for me to get this account? Can't see anything 

Other than possibly some interesting and novel account features, I don't know either. But I love to join a queue

I've just signed up as well even though I'm pretty set with my accounts.  I also like a queue

I'm open to switching from Chase as my second account though if it offers something different but we'll see.

greyteam1959

It's not based in Iceland by any chance is it ??
😁😁

k_man

Kroo current accounts appear to be available (just got the notification to convert prepaid/e-money account).

Conversion (claims to) only includes a soft search (usual for accounts with no ID facility, especially app only)

jasonwatkins

k_man said:

Kroo current accounts appear to be available (just got the notification to convert prepaid/e-money account).

Conversion (claims to) only includes a soft search (usual for accounts with no ID facility, especially app only)

Still no access for new customers though - the app still invites you to join the waiting list.

gary1312

ZeroSum said:

So are they offering anything for me to get this account? Can't see anything 

I'm on the waiting list but have heard nothing although they're apparently offering e-money account customers the chance to upgrade to a full current account first.

Alex9384

I would join if I was sure they're not doing hard searches. Preparing for two balance transfers at the beginning of 2023 and don't want any more hard searches now.

k_man

Alex9384 said:

I would join if I was sure they're not doing hard searches. Preparing for two balance transfers at the beginning of 2023 and don't want any more hard searches now.

They are planning to offer overdrafts in the future so the search may well change to hard at some point.

Band7

Now available generally. Download app from appstore. App only, no online banking.

Application requires upload of Government photo ID, a short video of your face, and a voice recording. All very easy. At the end of the application it says review of your application can take up to 3 days but my account was open 5 minutes later.

You set your PIN online, and you can add your debit card instantly to ApplePay (and I suppose Google Wallet, too). You can view the PIN in the app but to change it, you need to go to an ATM (once you got your physical card). Activate / freeze card in app. Debit card is VISA - makes a welcome change for those who are fed up with only having Mastercard current accounts.

You can view your TransUnion/Kreditkarma score through the Kroo app, so I suppose they might report to them. I can also see a couple of soft searches by Kroo in my KreditKarma file today.

Daily transfer limit appears to be £10k. ATM limit £300, up to 6 a day it seems. Card limit £10k "50 transactions" - daily, perhaps. Contactless limit £100, need C&P after £300.

Foreign ATM withdrawals £300, up to 6 a day BUT they charge 3% on anything over £200 a month. Pretty uncompetitive. I couldn't find info on exchange rates.

No overdraft facility, but should become available at some stage

Online chat facility. I haven't used it yet. Good FAQ / Help facility in the app.

Plenty of notification options for incoming and outgoing transactions. 

Faster payment, instant receipt / sending.

Looks a solid, no-frills current account. Though there's one unique feature: split bills etc with other Kroo users, keep track of who owes who. Could be useful to some people. Also very nice: can pull in money from your other current accounts (using Open Banking).

They do CoP when setting up new payees, but other banks don't seem to find them yet. 

NB. Refer-a-friend scheme, £10 (ten) each, plus Kroo will plant 20 trees.

overspender22

Where’s the refer a friend option? It lets me share a link and doesn’t mention anything about £10 or trees?