Kroo bank discussion

c-m

Is it only me who's slightly wary of putting a recently-developed banking app on my phone, and stuffing the account with up to 85k??

Nah, above, there's not need to worry. Kroo have been around for years developing, testing the app, and running as an e-money institution (like Revolut), before they got their banking licence. There are various Kroo bank reviews from before it was bank on and after on money sites. 

The reason most won't have heard of Kroo, is because before the recent update, there was no compelling to reason to join. It was just another e-money account with nothing to set it apart.

Given that there is also FSCS protection there really is little to worry about at all. Biggest worry is that the current £20 cashback offer will drive too many people to them and thus customer support will suffer. We all saw what happened with Chase last summer, where new customers were put on a waiting list for up to 5 weeks, and customer services were overwhelmed. 

piker57

I must have been very lucky.

I applied at about 4PM on Tuesday 24th & received the confirmation that my account was open within 15 minutes. I initially only  transferred £1 because HSBC couldn't validate the account when I was setting up the payee. I received the notification from the Kroo App almost instantaneously that the £1 had been received, so I went ahead and transferred another £50 to fulfil the criteria to get £21 from Topcashback. The Kroo account opening tracked perfectly with Topcashback & the cashback payment is pending.

The debit card arrived yesterday.

At the moment I'm using my Zopa Smart Saver for the MSE 'Save a Penny Challenge', but once the Kroo interest rate rises to 3.03% next week, then until/if Zopa respond, Kroo will be the home for my challenge savings.

macy08

piker57 said:

I must have been very lucky.

I applied at about 4PM on Tuesday 24th & received the confirmation that my account was open within 15 minutes. I initially only  transferred £1 because HSBC couldn't validate the account when I was setting up the payee. I received the notification from the Kroo App almost instantaneously that the £1 had been received, so I went ahead and transferred another £50 to fulfil the criteria to get £21 from Topcashback. The Kroo account opening tracked perfectly with Topcashback & the cashback payment is pending.

The debit card arrived yesterday.

At the moment I'm using my Zopa Smart Saver for the MSE 'Save a Penny Challenge', but once the Kroo interest rate rises to 3.03% next week, then until/if Zopa respond, Kroo will be the home for my challenge savings.

Can I ask, did you have to request the card or was it sent automatically? 

niktheguru

Am I the only person having difficulty signing up to Kroo? I got to the verification email stage on the app and I just never get an email (checked spam and inbox) I cap;ed customer services and just got a disinterested guy saying the app has technical issues and would be sorted in a few hours. It’s been two days and not received anything despite reminders. Is it that they can’t send email to yahoo email addresses?

anyone else had problems?

piker57

Macy08. The card was sent automatically. I just had to create my own pin when completing my application. Activation of the card took seconds. I was also able to add it to Google Wallet when l opened the account

masonic

niktheguru said:

Am I the only person having difficulty signing up to Kroo? I got to the verification email stage on the app and I just never get an email (checked spam and inbox) I cap;ed customer services and just got a disinterested guy saying the app has technical issues and would be sorted in a few hours. It’s been two days and not received anything despite reminders. Is it that they can’t send email to yahoo email addresses?

anyone else had problems?

Someone started a separate thread where others have been discussing sign-up problems.

https://forums.moneysavingexpert.com/discussion/6420002/anyone-having-trouble-registering-a-kroo-account/

andyhicks88

I had issues signing up but did it eventually. My issue really is the way the problems signing up seem to be problems with the app in general, on my phone at least I'm finding the app a bit laggy and slow and it's just not generally filling me with much confidence. Maybe it's fine for everyone else and it's just my phone or something.

Patrington

It's definitely not just you.

Dozens of reports on three or more threads on here about major glitches.

Seeing how poor it's performance is is enough to put me off from using it when I can get.very similar rates from more proven and stable platform's - especially when it appears more and more people are signing up increasing the pressure on it.

Band7

I will happily put £10k+ into Kroo on Wednesday. Though I hasten to add, this isn't 100% of my easy access money. I always like to spread my risk, so have several other accounts, too.

I don't experience any of the lags, or any 'major glitches' that others seem to encounter. I have had my Kroo account since November. May be it depends on the capacity of your phone. I am on an iPhone 13 Max with 256MB, and the latest iOS. Also, those currently applying will clearly be part of the mass onslaught, triggered by the mention on MSE TV and Newsletter.

masonic

It was just the application process where I experienced issues. The app has been fine thereafter.