Kroo
UK bank paying interest on current account balances, with savings pots, a Cash ISA and fee-free spending abroad
Quick Overview
| Company | Kroo Bank Ltd |
|---|---|
| Category | Neobanks and Digital Banks |
| Headquarters | London, United Kingdom |
| Founded | Not stated |
| EU Presence | Yes - United Kingdom |
| Data Location | United Kingdom |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Interest-bearing current account, savings pots, Cash ISA, personal loans, Apple Pay and Google Pay, fee-free card spending abroad |
| Pricing | No monthly account fees, no minimum deposit; new customers 3.00% AER variable including a 2.00% bonus for 12 months (checked 28 October 2026) |
| Best For | UK customers who want interest on everyday balances |
| Replaces | Chime, Cash App |
Detailed Review
Kroo Bank Ltd is registered in England and Wales (company number 10359002), authorised by the PRA and regulated by the FCA (firm number 953772). Eligible deposits are protected by the FSCS up to £120,000.
The current account pays 3.00% AER (variable) on balances up to £500,000 for new customers, which includes a fixed 2.00% AER bonus for 12 months; existing customers earn a tracker rate afterwards.
Interest and Fees
The account has no monthly fees and no minimum deposit. Card spending abroad carries no Kroo markup and uses Visa's exchange rate, though individual ATM providers may charge their own fees.
Pots, ISA and Loans
Savings pots set aside money for goals, and the site also lists a Cash ISA and personal loans. Apple Pay and Google Pay are supported.
Regulation
Kroo publishes its registration, regulator and FSCS details in the site footer, which lets you verify the bank on the FCA register.
Limitations to Consider
The headline rate includes a 12-month bonus for new customers only, after which it follows a tracker rate. Kroo is for UK residents and has no euro-area offer. The product range is narrower than Monzo or Starling.
Who Should Use Kroo
UK residents who keep a balance in their current account and want it to earn interest.
Pros and Cons
Pros
- Interest on current account balances
- No monthly fees
- Fee-free card spending abroad (no Kroo markup)
- FSCS protection up to £120,000
- Cash ISA and loans in the same bank
Cons
- Bonus rate is for new customers and 12 months
- UK only
- Narrower feature set than larger app banks
- ATM operators may add fees
Alternatives to Kroo
Other European neobanks and digital banks worth comparing before you decide:
bunq
Netherlands · Dutch licensed bank with four personal plans, free to €18.99
Tomorrow
Germany · Sustainable German current account from €0 with Solaris as bank
Lunar
Denmark · Danish bank with a free account, Plus and Unlimited plans
N26
Germany · German mobile bank with Standard, Smart, Go and Metal plans
See all European neobanks and digital banks or compare them directly against Chime on our alternatives page.
Frequently Asked Questions
Yes, new customers earn 3.00% AER (variable) including a 2.00% bonus for 12 months, on balances up to £500,000.
Eligible deposits are protected by the FSCS up to £120,000.
Kroo adds no markup and uses Visa's exchange rate, but ATM providers may charge their own fees.