Kroo Bank Ltd

Kroo Bank Ltd

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  • FSCS protects deposits up to £85,000 per person

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4.72 % AER variable
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About Kroo Bank Ltd

Kroo is a bank with a conscience. A bank built to change banking. For good. Forever. Founded in 2016, we secured our full banking licence in 2022 and have gone on to launch our FSCS-protected current account.

Kroo has been awarded the Best Newcomer 2021 Award by the British Bank Awards, as well as the Banking Innovation Newcomer Award 2021 by the Finder Awards.

Kroo believes it can transform banking for good, changing perceptions about what a bank can and should be – one that actually cares for its customers as well as the planet we share.

It’s all part of our mission to be a bank that is truly trusted and loved by our customers.

Bank details

Headquarters: London
Year established: 2016

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

Who is Raisin?

We are the UK savings marketplace for Raisin, one of Europe’s most successful technology-led financial services companies. We want to get Britain saving, so we connect savers with a range of banks and building societies offering deposit-protected savings accounts with competitive interest rates.

Using our savings marketplace is simple. By registering for a Raisin UK Account, you'll only ever need to fill in one application form. Then you can browse, apply for and fund a range of savings accounts, and manage everything under one roof. No paperwork or endless passwords to remember - just a free, easy way to grow your savings.