Kroo Bank chat

Financial Chat Fintech Chat
, ,
42

Looks like some of their page needs updating :sweat_smile:

Kroo currently operates a Debit MasterCardĀ® 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 (ā€œPayrNetā€) 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 MastercardĀ® 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.

2 Likes
43

image
image741Ɨ774 83.3 KB

Well, didnā€™t expect that many!

5 Likes
44

Just tried to sign up but the link in the email doesnā€™t work. Oh well.

2 Likes
45

Anyone heard anything about Kroo? Any updates?

1 Like
46

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

1 Like
47

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

1 Like
48

Iā€™d promote it but everyone got sick of my chase referrals and monzo neon referrals soā€¦ :joy:

1 Like
49

I received this email actually, two days ago, which I didnā€™t see at first:

Weā€™re pleased to announce the upcoming launch of our exciting new mobile-only Kroo current accountā€¦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 donā€™t need to do anything right now. Eligible customers will receive an invitation separately and have up until the 28th February 2023 to apply.

https://help.kroo.com/en/collections/3591839-prepaid-account#moving-to-current-account

1 Like
50

24.8% APR overdraft is very good.

5 Likes
51

image
I really like this cardā€¦ :heart_eyes:

4 Likes
52

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

3 Likes
53

I really like the card too, 1st edition.

As for being visa, MasterCard canā€™t have everything right? :joy:

1 Like
54

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

1 Like
55

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

1 Like
56

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

1 Like
57

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

1 Like
58

Would be good to have a sense of how the whole app fits together, wouldnā€™t it?

2 Likes
59

Iā€™m interested too. Currently 25K in the queue though. Letā€™s hope the rollout doesnā€™t run at JaJa speed :crossed_fingers:

2 Likes
60

Jaja still a thing

61

So Iā€™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 hadnā€™t made the link between Kroo and ā€œcrewā€ and social banking. I thought it was just another neobank.

On interface, this is what I found online:

1400Ɨ700 111 KB

1400Ɨ700 107 KB

From their blog here:

3 Likes