Best for Social Spending
Newest UK digital bank offering fee-free spending, bill splitting, and group payments. Built for social spending with friends. FSCS protected.
Kroo is a newer app-based bank that has competed primarily by paying interest on current account balances, at rates well above the mainstream.
Paying meaningful interest on a current account is genuinely unusual, and for people who keep a balance sitting there it is the main reason to look.
Who it suits. Customers comfortable with an app-only bank who keep a reasonable current account balance and want it earning something.
Worth knowing. Kroo holds a full UK banking licence, so balances carry standard FSCS protection. The interest rate is variable and has moved before — treat it as a rate to review rather than a permanent feature. As an app-only bank, there is no branch or cheque handling.