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. And as part of our mission to be ‘Bigger than banking’, we’re planting 2 trees for every new customer, with the goal of planting 1 million trees by the end of 2023.
Kroo offers a current account, an overdraft, deposit protection up to £85,000 and zero fees on spending abroad. By providing the security of a high-street bank combined with the flexibility and intuitive customer service of a FinTech, we’re offering customers the best of both worlds.
In the future, we’ll use predictive technology to track spending in real time, helping customers make better financial decisions and stay on top of their transactions and upcoming payments.
It’s all part of our mission to be a bank that is truly trusted and loved by our customers.
“For over a century, big banks have been reaping financial benefits, even at the expense of customer losses and harm to the planet.
We built Kroo to address this imbalance. We want to improve the relationship people have with their banks and money and, ultimately, give them more financial independence and control. Our goal is to be a bank people truly trust and love.”
Nazim Valimahomed, CPO & Founder
Protecting the planet we all share is more important than ever. This is why, together with One Tree Planted, we aim to plant 1 million trees by the end of 2023.
When you open a Kroo current account, we’ll plant 2 trees on your behalf. And you’ll get to choose where we plant them.
This is just the start of our ambition to give back to communities worldwide.
“We’re proud to work with Kroo on this critical mission, taking tangible actions to restore our ecosystems and forests.”
Kroo Bank Ltd is a limited company registered in England and Wales with company registration number 10359002. Its registered address is LABS House, 15-19 Bloomsbury Way, London WC1A 2TH. Kroo is authorised as a bank by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (firm registration number 953772).
Kroo Bank Ltd specialises in financial services for retail customers. All eligible deposits are protected by the Financial Services Compensation Scheme up to £85,000 per customer.
Kroo is separately registered as a payment services / electronic money agent of Modulr FS Limited under registration number 902797. Kroo currently continues to operate a Debit MasterCard® for existing customers only. 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 (firm registration 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 Kroo) hold e-money customer money and follow a set of regulatory safeguarding rules to keep that money safe. These rules require them to place customers’ money in a separate and secure account at an institution regulated by the Financial Conduct Authority (FCA). PayrNet and Modulr do not use customer money for anything else, for example, they cannot use it to pay their own staff salaries.
Kroo is no longer issuing e-money debit cards to new customers.
