Kroo Discussion

I’m just here for the 1.5% cashback on Algbra :rofl: through Apple Pay

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What’s the Direct Debit situ with Kroo at the moment @Rexx

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Direct debits failing due to issues with a third party payment processor

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Hopefully they get that sorted fast or use a different processor

Could well be a tech issue and it’s only off other forum peoples experiences - but yeah, not good!

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Kroo have announced that their interest rate will increase to 3.60% wef 01/06

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Kroo are raising their interest rate from 1st July to 3.85%

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I’ve got a Kroo account now to try it. I suppose it’s fine but I don’t see any reason to switch from Starling.

As with all of these new banks I would question how sustainable they are long term. Starling doesn’t give any sort of financial benefit and it took a long time to become profitable. How are these banks that give everything away ever going to make it :person_shrugging:

Last time I checked, Kroo weren’t part of the CASS network (in case anyone’s looking for a sacrificial lamb).

That explains why I wasn’t able to use it for a switch

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Still not.

From 1st July

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Must admit Kroo are pretty clever - they’re keeping customers incentivised to keep within the 85k limit

I imagine this is so customers don’t grow big enough balances to the point that any single customer can materially change their liquidity requirements by withdrawing their balance

I doubt any savvy saver would place more than the safety limit anyway. There’s no need to, given the competitive rate market.

(And with that rate you’d sail over the personal allowance into HMRC country)

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Already there with current rates :man_facepalming:

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100k downloads already :eyes:

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I’m willing to accept whatever portion of money you are over to save you this burden :handshake:

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In this situation I’ve found ISAs a saviour.

Already maxed out :man_shrugging:

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Ok. Send the spare over - I’ll sort it out for you. :relieved:

Trust me, I’m a nurse. :blush: