Banking · Retail bank
Kroo: a UK online bank for residents of the United Kingdom and the Channel Islands
A small UK-authorised bank, opened through its app to residents of the United Kingdom, the Isle of Man and the Channel Islands. The account is closed if the customer stops living there.
Please note
Characteristics
- Family
- Retail bank
- Regulator
- Prudential Regulation Authority / Financial Conduct Authority
- Regulator country
- United Kingdom
- Deposit guarantee
- Yes
- Remote opening
- Yes
- Currencies
- GBP
- Services
- Current account · Payment card · International transfers
- Accepted residencies
- United Kingdom · Isle of Man · Jersey · Guernsey
- Refused residencies
- Not provided
- Home country
- United Kingdom
You must be of legal age and reside in the United Kingdom, the Isle of Man or one of the Channel Islands. If your residence changes after opening, Kroo allows a reasonable period and then closes the account.
Entities and regulatory status
| Entity | Jurisdiction | Status | Regulator | Protection of funds |
|---|---|---|---|---|
| Kroo Bank Ltdholds the accountNumber quoted in the terms and conditions (condition 1.2); the FCA register entry was not consulted. | United Kingdom | Banks with their own licence | PRA / FCALicence 953772 | FSCS |
Who can open or keep an account
| Country of residence | Case | Status | Conditions |
|---|---|---|---|
| United Kingdom | Opening | Accepted | Residence required; legal age required.kroo.com |
| Isle of Man | Opening | Accepted | Residence required.kroo.com |
| Jersey | Opening | Accepted | Channel Islands accepted.kroo.com |
| Guernsey | Opening | Accepted | Channel Islands accepted.kroo.com |
| Any residence (general rule) | Keeping after a move | Refused | If your residence changes, Kroo allows a reasonable period and then closes the account.kroo.com |
A country missing from this table is neither accepted nor refused: the information is not published.
Published figures
- Account feeNot provided
- Brokerage feeNot provided
- Deposit guarantee ceilingup to £120,000kroo.com · Verified on Nov 2, 2026
- Entry ticketNot provided
Which entity, which status
Kroo Bank Ltd states that it is authorised as a bank by the Prudential Regulation Authority and regulated by the FCA and the PRA under number 953772 (Kroo terms and conditions). This is a UK banking licence held in its own right.
Who can open an account
The terms and conditions set two requirements: being at least figure being updated and residing in the United Kingdom, the Isle of Man or one of the Channel Islands. Identity and residence are checked at opening.
The decisive point for an expatriate appears in condition 6.3: if your residence changes after opening, Kroo allows a reasonable period to find another bank, then closes the account. Kroo is therefore not suitable for keeping a UK banking link after you leave.
Account, card and currencies
The account is held in pounds sterling. Card transactions in a foreign currency are converted at the European Central Bank reference rate, plus a margin set by Visa, according to the terms and conditions. Other charges are set out in the pricing information document.
Kroo's pricing information document has not been read: withdrawal fees and limits are not included.
Protection of funds
Funds in the current account are covered by the FSCS up to up to £120,0001, under condition 14.1 of the terms and conditions. This is the deposit guarantee that applies to an authorised bank.
Points to check
- The departure date: closure follows the change of residence, which means you must open an account in the destination country before leaving.
- The real cost of payments in foreign currencies, which depends on the margin applied by Visa rather than on a displayed fee.
Sources and verification dates
- 1.
Deposit guarantee ceiling : £120,000
« The money in your current account is protected up to £120,000 per customer »
Kroo Bank Ltd, « Terms and Conditions »Verified on Nov 2, 2026Verified source