Kroo Discussion

Well done, Kroo :grinning:

Interestingly though, there’s no mention of the interest feature in-app (unless I missed it).

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Can’t be For New Customers Only , surely.

What a bad taste that would cause for early adopters.

Front and Centre on their website:

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I’m not sure I can be excited about a bank offering an in-credit interest rate a full third lower than the base rate.

Useful perhaps as a feeder for drip feeding regular savers?

That would be one huge clanger dropped, if so.

Edit:
Just noticed this :point_down:t4: in-app (under Help).

Just received an email to tell me my existing account will be earning interest.

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Same here. All £1.23 of my balance :rofl::rofl:

Not seeing anything to encourage me to use it more atm tbh.

I get 1% cashback with Chase.

DDs in Chase earn 2.1% until paid (although only pence tbh)

My Virgin Money current account pays 2.02% and that doesn’t get used at all :man_shrugging:

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Good luck to Kroo. Hope this is just a hint of things to come because as it stands, the offering is thin.

I doubt they’ve got huge resources to throw at us, unlike Chase and legacy banks (Santander are still a leader for me at 2.72%).

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You opted for monthly interest then? :thinking:

Yes, it’s going to be tough for any new bank to make a foothold atm tbh.

Although Algbra is an eMoney account, I believe, I cannot see them affording 1% cashback for an extended period tbf.

Other than the initial £10, I have not used them further yet as Chase offer is on till 28 Feb 2023 for me, so no need to spread money around for sake of it.

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I’ve just noticed you can apply for an Overdraft now via the app. It makes you use a calculator before it allows you to do an application. Initial max limit is £1,000 with the ability to increase to £2,500 if you meet criteria

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Pastel colours. Looks interesting. Have to try it out of curiosity.

I did, yes.

I agree. Much as I like to promote different products, doing it for the sake of it is daft.

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12 days now still waiting to hear back from Kroo. Last point of contact was via their app chat, no email. They do not have my address so no post. If I open the app to chat with them I will be starting over. This is a real joke.

Looks like we have an update for Kroo with this handy new “Add Money” button next to the balance.

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Kroo sorted the issue I had and have successfully opened an account with them.

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They already made it to award nominations

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I don’t want to sound like a negative nancy but most of these award things are pretty bogus; pay to win basically.

I’m not saying the British Bank Awards is that that but you’d expect a major bank (other than Starling/Monzo) to have won something at some point intuitively, right?

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Looking at the categories, where would you expect them to pick up any awards? Not one major bank springs to mind when I think which I’d personally rate best at what.

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What exactly do the “major” banks do better? I think the awards are well deserved but they’re not paid for. They’re based on votes.

It would be more strange if Barclays won best British bank and TSB won best app :joy:

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I don’t think Monzo (or even Starling) deserve Best Banking App. NatWest Group is light years ahead both in terms of providing features in a well-laid out, simple to navigate app.

In comparison the Monzo app (which won last year) is a hot mess best described by a 4-year old who’s told to clean up their toys and ends up loosely chucking them into the toy box so they don’t really fit but they’re all technically in there.

Customer Service Champion is very vague, and I never heard of Novuna, but from my experience of Fintechs I’d be surprised if First Direct didn’t have a chance.

Why is Bip the best credit card provider when they don’t even provide a card in the traditional piece of plastic sense. I’d argue Amex have the best package on the credit card front, but the criteria aren’t obvious so I don’t know if it fits.

I think the whole awards product is skewed towards the fintech crowd rather than giving traditionals a chance. Perhaps not by design, but the customer base of traditionals is less likely to go out of their way to vote on these things.

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Just so happens that all the winners have big paid for presences there to collect the awards, does it?

“Winners” fund these events.