The Kroo Debit Card is issued by Kroo Bank Ltd, a UK-based financial institution regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Designed for everyday use, it targets customers who want a modern banking experience with low costs, attractive interest rates, and convenient money management tools.
It operates on the Visa network, ensuring broad acceptance both in the UK and abroad. This guide provides a complete analysis of the Kroo Debit Card, including its main features, benefits, possible drawbacks, and how to apply. By the end, you will have all the information needed to determine whether this card is the right choice for your lifestyle.
Main features of the Kroo Debit Card
The Kroo Debit Card is linked to a Kroo current account, which offers 2.90% AER (variable) interest on balances — an uncommon feature for debit cards. The account has no monthly fees and is free to open. It also allows optional overdraft access, available by invitation and subject to status. Being a Visa debit card, it can be used worldwide wherever Visa is accepted. There are no fees for spending abroad, making it appealing for travellers and online shoppers who purchase from international stores.
Requirements for approval
Opening a Kroo current account is straightforward and takes only a few minutes through the Kroo mobile app. While Kroo does not publicly state a minimum income requirement, applicants must pass identity verification and meet the bank’s eligibility criteria. Overdraft access, when requested, is subject to additional assessment. The card is aimed at customers who prefer a digital-first banking solution, so having a smartphone compatible with the Kroo app is essential.
Benefits of the Kroo Debit Card
The standout feature of the Kroo Debit Card is the high interest rate on current account balances — 2.90% AER / 2.86% gross (variable) — calculated daily and paid monthly. This means users can earn interest without transferring funds to a savings account. In addition to the interest, Kroo offers fee-free spending abroad, real-time spending insights, and the ability to easily split bills or settle up with friends.
Exclusive highlight
Kroo’s combination of a competitive interest rate on a current account and zero foreign transaction fees is rare in the UK banking market. This blend of savings potential and travel convenience is a strong differentiator from other debit cards.
Disadvantages and points of attention of the Kroo Debit Card
Despite its advantages, the Kroo Debit Card does have some limitations. It does not offer cashback, reward points, or loyalty programs, which might be a drawback for those seeking extra perks beyond interest earnings. Additionally, as a relatively new bank, Kroo operates entirely online, with no physical branches. This may not suit customers who prefer in-person banking. Overdraft availability is limited and offered only by invitation, which may not meet the needs of all users.
Step-by-step application process
Applying for the Kroo Debit Card starts with downloading the Kroo app from the App Store or Google Play. You’ll need to provide personal details, verify your identity (usually with a photo ID and selfie), and complete the in-app application form. Once approved, you will receive your debit card by post. The account and card can be activated immediately, allowing you to start spending and earning interest right away.
Who the Kroo Debit Card is ideal for
The Kroo Debit Card is best suited for individuals who want to earn interest on their everyday spending money while enjoying the freedom of fee-free international purchases. It is also ideal for digital-savvy users who value real-time transaction insights and easy money management through a mobile app. Compared to traditional debit cards from major banks, Kroo offers a more competitive interest rate and lower travel costs. However, those seeking rewards programs or branch-based services may prefer alternatives.
