@Recchan already offered
I won’t know what’s spare until I’m dead.
Not planning on that just yet 
Ah, so he did……
Can’t say you’re not popular 
Probably why
Is anyone else having monthly quotation searches by Kroo on Transunion?
They are starting to irritate me. I know they are soft searches but they are not initiated by me and I am not planning to get more products from them.
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Nope. Last Kroo search on my Transunion was 8 months ago, when I opened the account 
Will put in a formal complaint then, the person on chat just pasted a generic response. I guess they did not bother to take the time to understand my issue.
“ Thanks for getting in touch.
We use TransUnion, which is one of the largest credit reference agencies in the UK. They hold information about your credit history and share this with specific partners. You can read more about the information they hold by visiting the TransUnion Privacy Centre (https://www.transunion.co.uk/legal/privacy-centre).
To contact them directly, visit the contact us (https://www.transunion.co.uk/consumer/consumer-enquiries) section of the TransUnion website.
Please let us know if you have any further questions.”
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Yes, on the first of the month I see Kroo perform a quotation search - as regular as clockwork. It might be this search that enables them to show your Transition credit score in app…? I also have an overdraft facility on my account, so unsure whether that prompts their search (as unlikely as that might be).
I’ll be interested to hear what you learn from Kroo.
Sent them a message two days ago and haven’t had a reply
Interest rate increasing 1 August to 4.35% AER
Will probably stick here for the emergency fund now!
something I’m wondering…Kroo is a pretty small operation (relatively speaking), yet have a banking licence/fscs etc. do they have lots of VC money behind them, from the revolut thing I got the impression banking licences were quite difficult to get!
Kroo have raised £56m in funding over two investment rounds. I believe the first was led by Karlani Capital.
I suspect it’s easier to get a licence if you are a new operator without a very complex set of products including crypto when you apply…
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That certainly makes sense. It does bring in to question why Tandem felt like they had to acquire an existing licensee (Harrods Bank) in order to get the job done when they were in a similar position tho… has some red tape been cut in the years since?
Tandem originally had a banking license and lost it due to funding issues - and needed a replacement
Ah yes, forgot about the House of Fraser link!
From Kroo
We’re making it simpler for you to know how much interest you’ll earn on your current account.
From 15 October 2023 onwards, we’ll pay you a ‘tracker’ rate set at 0.9% below the Bank of England’s base rate, so you always know what to expect.
They are going to see a mass exodus
I think a mass exodus will happen for those customers that use Kroo as a savings account only. I’m actually using them as a current account, so it’s definitely nice to receive a decent rate of interest on money in my current account. And Tandem for the extra cash that I don’t want immediate access to.
Basically for current account customers it sounds “okay” to me.
why?
5.25% - 0.9% is still the 4.35% you get today.
perhaps when the base rate starts going back down, but it’s still expected to keep increasing in the medium term.