Kroo vs Revolut
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
27/100
Free tier
Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expense
💰 Pricing
🆓 Free tier available
All features are included in the single free tier; no paid premium tiers exist.
Fee notes:
- Monthly account fee: £0
- Card payments abroad: no Kroo fee; exchange rate set by Mastercard
- ATM withdrawals: free at all ATMs in the UK and abroad, though the ATM operator may charge a fee
- International transfers: not currently offered; only UK Faster Payments available
- Card replacement: typically free, but expedited delivery may incur a fee
⚠ Watch for:
- Third-party ATM surcharges can apply when using non-branch ATMs, especially abroad
- Mastercard's exchange rate includes a small spread above the interbank rate, even though Kroo does not add a markup
- Expedited card delivery may cost a fee
- No foreign currency account, so payments in non-GBP are converted at Mastercard's rate
🔧 Features
✓ Free Tier✓ Social Banking✓ Joint Accounts✓ Group Expenses✓ Fscs Protected
📋 Assessment
💪 Strengths
- Kroo offers a completely free UK current account with no monthly fees, no transaction charges, and zero foreign transaction fees. This is rare among UK banks, and cutting the usual 'average market rate' markup on foreign card payments means you save money every time you use your card abroad. For frequent travelers or online shoppers who buy in foreign currencies, this benefit is substantial.
- FSCS protection up to £85,000 per person and a full UK banking license provide peace of mind that your money is safe, unlike some fintech startups that fail to offer such safety nets. Knowing your deposits are government-backed adds credibility and makes Kroo a safer choice for larger balances.
- The interest on your entire current account balance is a standout feature. Unlike traditional current accounts that pay almost nothing, Kroo pays a competitive variable rate that is calculated daily and credited monthly. This means your everyday spending money works for you, earning interest passively without needing to move funds into a separate savings account.
- The joint account and shared tabs feature is tailor-made for group spending. You can create a shared tab for rent, utilities, or a holiday kitty; add members; and seamlessly split expenses. Each transaction is tracked, and the app shows who has paid and who owes what, eliminating awkward money conversations and simplifying group finances.
- The app's user experience is polished and intuitive, with a clean design and instant notifications. Budgeting insights and spending categories help you track where your money goes, and the ability to freeze your card instantly via the app adds a layer of security. The onboarding process is purely digital, and you can apply for a joint account directly within the app.
⚠ Watch out for
- The lack of cash and cheque deposit facilities is a significant drawback. If you receive cash or cheques regularly, you cannot pay them into your Kroo account. You'll need another bank to deposit physical money, then transfer funds. This is a common neobank limitation, but it still makes Kroo inconvenient for those who rely on cash transactions.
- There is no overdraft facility or any credit products, such as loans or credit cards. For users who occasionally need a short-term buffer or want to build credit history, Kroo is not sufficient. It must be complemented with a traditional bank or credit union that offers credit facilities, making it less suitable as your sole financial provider.
- Kroo is UK-only, so you cannot hold balances in other currencies or access international banking features beyond the fee-free card payments. If you need a multi-currency account or want to manage funds in different denominations, you'll have to look at competitors like Revolut or Wise.
- The customer support options are limited to in-app chat and email, with no phone support. While the in-app chat is responsive during business hours, some users may find the lack of immediate human contact frustrating, especially for urgent issues like a lost card or suspected fraud.
- Kroo does not offer all the fintech extras that competitors have, such as savings pots, crypto trading, or insurance products. The feature set is intentionally focused, but if you are looking for an all-in-one financial hub, you might find it lacking.
🎯 Best for
Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expenses and earning interest on their balance.
🚫 Who should skip
Anyone who needs business banking, frequent cash deposits, an overdraft, or in-person branch support should look elsewhere.
📚 Learning curve
Minimal — the app is intuitive and built around a mobile-first, social banking experience.
🧑⚖️ Verdict
Kroo is a solid choice for UK users who value no fees, international spending, and social banking features like joint accounts and shared tabs for group expenses. It's perfect as a secondary bank or for sharing finances with others. However, if you need cash deposits, overdrafts, or multi-currency a
76/100
Free tier
Revolut is ideal for travelers, freelancers, and digital nomads who need a cheap, flexible, multi-currency spending card
★ Best
💰 Pricing
🆓 Free tier available
Standard plan is free, but limited to $1,000/month ATM withdrawals (2% fee after), 3 free currency exchanges per month, and 0.5% FX fee after limit. Crypto and stock trading have fees.
Fee notes:
- FX markup: 0% on weekdays within free exchange allowance (Standard: 3 free per month, then 0.5% markup; Premium and Metal: unlimited, but weekend markup of 0.15% for Premium/Metal, 0.5% for Standard).
- ATM fee: 2% of withdrawal amount after exceeding monthly free limit (Standard: $1,000; Premium: $2,000; Metal: $3,000; Ultra: unlimited).
- International transfer fee: Standard: 0.5% (min $0.50, max $50?) ; Premium: free up to $10,000/month, then 0.5%; Metal: free up to $20,000/month, then 0.5%; Ultra: free unlimited.
- Card replacement fee: Standard: $10 (or local equivalent) if lost or stolen; Premium: free (one per year) then $10; Metal: free (one per year) then $10; Ultra: free.
- Crypto trading fee: variable, typically 1.5% per trade (standard) or lower (0.75% for metal/ultra?)
⚠ Watch for:
- Weekend FX markup: Revolut applies a 0.5% markup on weekend currency exchange for Standard, and 0.15% for Premium/Metal (Ultra: 0%) – even if you have exceeded your free exchange allowance.
- ATM fee after limit: 2% after free monthly limit; some ATMs may charge their own fee, which Revolut does not reimburse.
- Card delivery fee: Standard may charge for delivery (e.g., $10) unless you upgrade or order during promotional period.
- Inactivity fee: Not charged monthly, but if you don't use the card for 12 months, card might be deactivated (with reactivation fee?).
🔧 Features
✓ Free Tier✓ Mobile App✓ Multi Currency✓ Crypto Support✓ Stock Trading✓ Virtual Cards✓ Insurance
📋 Assessment
💪 Strengths
- Revolut's multi-currency accounts with local IBANs are a massive advantage. You can open a EUR account with a Lithuanian IBAN, a GBP account with a UK IBAN, and a USD account with a US account number (in some regions). This makes it seamless to receive salary or payments in different currencies without paying high conversion fees. For freelancers and remote workers, this is a killer feature.
- The interbank exchange rate on weekdays is a huge cost saver. Unlike traditional banks that add a 2-3% margin, Revolut uses the actual market rate. On the free plan, you can exchange up to £1,000 per month without extra fees, which is plenty for most travelers. The app also shows you the exact rate before you confirm, so there are no surprises.
- The budgeting tools are surprisingly robust for a digital bank. You can categorize transactions (groceries, transport, entertainment) automatically or manually, set monthly budgets, and get spending insights. This is on par with dedicated budgeting apps like YNAB, and it's built-in for free.
- Virtual cards are a standout security feature. You can create a virtual card for online shopping, and even disposable virtual cards that generate a new card number each time. This protects you from fraud if a merchant's database is compromised, and it's a feature that traditional banks rarely offer for free.
- The crypto and stock trading features are convenient for beginners. You can buy Bitcoin, Ethereum, and dozens of other coins directly in the app, and trade US stocks with fractional shares. However, spreads are wider than on dedicated exchanges like Coinbase or Degiro, so serious investors should look elsewhere.
⚠ Watch out for
- Customer support is a major pain point. In-app chat is the primary channel, and response times can be hours or even days for anything beyond basic questions. There's no phone support on most plans, and the chatbot often fails to handle complex issues like account freezes or disputed charges. This has led to numerous complaints on Trustpilot and social media.
- Account freezes for compliance checks are a real risk. Revolut's automated anti-fraud algorithms can flag unusual activity (like large transfers or new login devices) and freeze your account for weeks while they investigate. While this is a legal requirement in some cases, the lack of proactive communication and slow resolution times is frustrating for users who rely on the account for daily spending.
- Hidden fees can sneak up on you. The free plan has a £200/month ATM withdrawal limit, after which you'll pay 2% (or more on weekends). If you exchange on weekends, there's a 1% fee. Crypto trades have spreads that are 1-2% above the market rate, which is higher than dedicated exchanges. You need to read the fee schedule carefully to avoid surprises.
- Revolut is not a full replacement for a traditional bank. Deposits are not covered by the UK's Financial Services Compensation Scheme (FSCS) in the same way — only up to £85,000 for money in your e-money account under certain conditions (actually, Revolut is a licensed bank in Lithuania, but the protections differ in other countries). You also can't get a mortgage or overdraft from Revolut, and there's no option for physical cash deposits beyond loading with cash at certain partner stores.
🎯 Best for
Revolut is ideal for travelers, freelancers, and digital nomads who need a cheap, flexible, multi-currency spending card with manageable FX and global payments.
🚫 Who should skip
People looking for a full-fledged primary bank with reliable customer support, complete deposit protection, and comprehensive financial products (mortgages, large loans) should skip Revolut. Also, active traders are better off with dedicated stock/crypto brokerages.
📚 Learning curve
Minimal — the app has a modern, intuitive interface and you can start using core features within minutes. Understanding the exact pricing structure and country-specific features may take some digging.
🧑⚖️ Verdict
Revolut is an excellent choice for travelers, freelancers, and digital nomads who need flexible multi-currency capabilities and low FX fees. However, if you require reliable human support, robust deposit insurance, or the stability of a traditional bank for all your banking needs, you should keep a
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseKrooRevolut
Group Expense Splitting95—
Shared tabs let groups split bills and track who owes who in real time, making i
Joint Account Banking90—
Kroo's joint accounts give couples or housemates a transparent shared balance an
Everyday Spending with Interest85—
You earn a competitive variable interest rate on your entire current account bal
Mobile-First Daily Banking80—
The app is clean, fast, and designed for digital-only users, with instant notifi
Business Banking10—
Kroo doesn't offer business accounts, invoicing tools, or tax features, so it's
Travel & Foreign Currency Spending—95
With multi-currency accounts, competitive interbank-ish exchange rates, and no h
Freelancer Multi-Currency Invoicing & Receiving Payments—88
Freelancers can receive payments in multiple currencies with local IBANs, hold b
Budgeting & Expense Tracking—80
Built-in budgeting tools, spending categorization, and real-time notifications h
🧭 Which One Should You Pick?
Choose Kroo if...
- You are: Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expense
- 👍 Free UK current account with no monthly fees and no foreign transaction fees, even when used abroad.
- 👍 FSCS protection up to £85,000 per person, backed by a full UK banking license.
- 👍 Competitive variable interest on your entire account balance, paid monthly on a daily-calculated bas
- 💰 Free tier available
- ⚠ Trade-off: No cash or cheque deposits—you can't pay in physical money, which is limiting fo
Choose Revolut if...
- You are: Revolut is ideal for travelers, freelancers, and digital nomads who need a cheap, flexible, multi-currency spending card
- 👍 Real multi-currency accounts with local IBANs in many countries, making international transfers and
- 👍 Competitive FX rates (interbank rate on weekdays) with a user-friendly app that shows real-time conv
- 👍 Extensive feature set even on the free plan: virtual cards, budgeting, crypto, stocks, and peer-to-p
- 💰 Free tier available
- ⚠ Trade-off: Customer support is notoriously slow in many regions, with in-app chat often bei
❓ Frequently Asked Questions
Is Kroo really free to use?
Yes, Kroo's standard UK current account has no monthly fees, no card fees, and no foreign transaction fees. You only need to cover any third-party charges, like an ATM operator's fee.
How does interest on my current account balance work?
Kroo pays a variable interest rate on your entire balance (up to the FSCS protected amount), typically credited monthly. This makes it a rare current account that also works like a savings account.
Are my deposits protected if Kroo fails?
Yes, Kroo is a fully licensed UK bank and is covered by the Financial Services Compensation Scheme. Your deposits are protected up to £85,000 per person.
Can I open a joint account with Kroo?
Yes, you can open a joint account with another person directly in the app. Both of you get a shared view of money and spending, and you can still use shared tabs for group expenses.
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