Kroo Bank chat

Financial Chat Fintech Chat
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Looks like some of their page needs updating :sweat_smile:

Kroo currently operates a Debit MasterCard® for existing customers. This is an e-money debit card, not a bank current account, and it is not covered by FSCS deposit protection. The card is issued by PayrNet Limited (“PayrNet”) which is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (it appears on the FCA Register under firm number 900594). The card is issued pursuant to a licence by Mastercard International Inc. and can be used wherever Mastercard® is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

PayrNet (and Modulr FS Limited who process some payments for us) hold your money and follow a set of regulatory safeguarding rules to keep your money safe. These rules require them to place your money in a separate and secure account at an institution regulated by the Financial Conduct Authority (FCA). PayrNet and Modulr do not use your money for anything else, for example, they cannot use your money to pay their own staff salaries.

Kroo is building a current account and various other services and will be launching these soon. For this reason it is no longer issuing new e-money debit cards.

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Well, didn’t expect that many!

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44

Just tried to sign up but the link in the email doesn’t work. Oh well.

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Anyone heard anything about Kroo? Any updates?

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I went from 25000 odd to 26000 odd in the queue. :man_shrugging:t3::joy:

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I’d forgot I signed up to be honest, hopefully they will get on with a launch soon. :sweat_smile:

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I’d promote it but everyone got sick of my chase referrals and monzo neon referrals so… :joy:

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I received this email actually, two days ago, which I didn’t see at first:

We’re pleased to announce the upcoming launch of our exciting new mobile-only Kroo current account…Your existing e-money debit account will continue to work as usual until 28th February 2023 when it will close (or before, if you successfully transfer over to the new Kroo current account).

You don’t need to do anything right now. Eligible customers will receive an invitation separately and have up until the 28th February 2023 to apply.

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24.8% APR overdraft is very good.

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I really like this card… :heart_eyes:

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I am honestly suprised it is Visa. Their prepaid was mastercard

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I really like the card too, 1st edition.

As for being visa, MasterCard can’t have everything right? :joy:

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I’m like 27k in the queue, hope that I can get a 1st edition card. :joy:

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I lost the email that tells me where I am in the queue.

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Can anyone with access share some more screenshots please? Keen to see the feed and if there’s anything like Trends, Summary or Budgeting!

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I second this. They did have a summary thing with the prepaid account

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Would be good to have a sense of how the whole app fits together, wouldn’t it?

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I’m interested too. Currently 25K in the queue though. Let’s hope the rollout doesn’t run at JaJa speed :crossed_fingers:

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Jaja still a thing

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So I’ve been doing a bit of reading. Sorry if this is old news to anyone!

Kroo started out as B Social, founded by a couple of ad execs. It was (still is?) all about social money: splitting expenses, sharing bills etc. Before reading that I hadn’t made the link between Kroo and “crew” and social banking. I thought it was just another neobank.

On interface, this is what I found online:

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From their blog here:

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