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Post by bracknellboy on Dec 8, 2023 9:38:25 GMT
anyone here got experience of using KROO current account ?
I'm looking for an additional current account, and this pays interest on balances at a decent rate. Having opened it, and deposited a test amount, I'm looking to do a withdrawal. I can't actually find a way of doing one, other than via contacts.....
OK, I am now finding the answer I think. Though why on earth a payee should be labelled a Contact, and why it should initially ask me to access my address book contacts is a mystery. Clearly I'm not sufficiently 'down with the kids'.
Still, leaving this here in case anyone else has experience of them and want to warn me of anything or give me some hints/tips. My intent is to use this as an account that I can "wash" quite a lot of money through (use it as a probate account) over the next x months.
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benaj
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Post by benaj on Dec 8, 2023 10:28:16 GMT
www.topcashback.co.uk/kroo/Consider getting Cashback on your Kroo account application. My experience with Kroo is below “good”. I hope they have improved their services. My initial experience wasn’t great, I can’t get money out until back office approve the payment and even money coming in, even for a small amount under 1k. Comparing to other platforms, they are quicker to respond compared to Curve. Revolut might respond quicker but they don’t always resolve issues. Edit: according to chat record, I was having trouble to get 26k credited in the Kroo account with FPS in February. You can check trustpilot reviews and see many people have trouble with Payment in when they were top rate current account. Also, I don’t think they support CHAPS.
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michaelc
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Post by michaelc on Dec 8, 2023 16:48:46 GMT
anyone here got experience of using KROO current account ? I'm looking for an additional current account, and this pays interest on balances at a decent rate. Having opened it, and deposited a test amount, I'm looking to do a withdrawal. I can't actually find a way of doing one, other than via contacts..... OK, I am now finding the answer I think. Though why on earth a payee should be labelled a Contact, and why it should initially ask me to access my address book contacts is a mystery. Clearly I'm not sufficiently 'down with the kids'. Still, leaving this here in case anyone else has experience of them and want to warn me of anything or give me some hints/tips. My intent is to use this as an account that I can "wash" quite a lot of money through (use it as a probate account) over the next x months. Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork.
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benaj
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Post by benaj on Dec 8, 2023 17:22:45 GMT
Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork. Hey michaelc , you know any account better at "washing" a lot of money? As far as I know, avoid TSB new account getting lots of money as a new customer. It's very likely to have the account suspended and closed. No matter how much paperwork submitted, accounts remain suspended.
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adrianc
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Post by adrianc on Dec 8, 2023 18:28:54 GMT
Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork. Hey michaelc , you know any account better at "washing" a lot of money? As far as I know, avoid TSB new account getting lots of money as a new customer. It's very likely to have the account suspended and closed. No matter how much paperwork submitted, accounts remain suspended. Any bank should look with raised eyebrows at a new account from a new customer that's opened and suddenly "washes" a lot of money. Basic money-laundering red flags.
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michaelc
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Post by michaelc on Dec 8, 2023 18:49:24 GMT
Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork. Hey michaelc , you know any account better at "washing" a lot of money? As far as I know, avoid TSB new account getting lots of money as a new customer. It's very likely to have the account suspended and closed. No matter how much paperwork submitted, accounts remain suspended. I don't think BB was referring to the kind of washing that you are. Might be best to ask some of the fraudulent directors of the failed P2P companies.
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Greenwood2
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Post by Greenwood2 on Dec 8, 2023 20:10:21 GMT
anyone here got experience of using KROO current account ? I'm looking for an additional current account, and this pays interest on balances at a decent rate. Having opened it, and deposited a test amount, I'm looking to do a withdrawal. I can't actually find a way of doing one, other than via contacts..... OK, I am now finding the answer I think. Though why on earth a payee should be labelled a Contact, and why it should initially ask me to access my address book contacts is a mystery. Clearly I'm not sufficiently 'down with the kids'. Still, leaving this here in case anyone else has experience of them and want to warn me of anything or give me some hints/tips. My intent is to use this as an account that I can "wash" quite a lot of money through (use it as a probate account) over the next x months. Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork. What is a washing account? Sounds a bit like money laundering but I'm sure the people talking about it on here are not doing that!
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Post by df on Dec 8, 2023 20:51:40 GMT
anyone here got experience of using KROO current account ? I'm looking for an additional current account, and this pays interest on balances at a decent rate. Having opened it, and deposited a test amount, I'm looking to do a withdrawal. I can't actually find a way of doing one, other than via contacts..... OK, I am now finding the answer I think. Though why on earth a payee should be labelled a Contact, and why it should initially ask me to access my address book contacts is a mystery. Clearly I'm not sufficiently 'down with the kids'. Still, leaving this here in case anyone else has experience of them and want to warn me of anything or give me some hints/tips. My intent is to use this as an account that I can "wash" quite a lot of money through (use it as a probate account) over the next x months. I have Kroo current account. Opened on 29th Jan 2023 because they paid top easy acces rate at the time emptied on 4th March because they they fell far behind the competition. They are paying 4.35% at the moment, which is far too low. However, their recent introduction of tracker rate set at 0.9% below the Bank of England’s base rate can become useful at some point in future. Kroo uses open banking only, that's why you can't set up payee in a traditional way. I like OB, but there are limitations, not all banks participate in this scheme. One downside is a daily transaction limit (£10k), I might be out of date on this but haven't heard of any changes of this limit.
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michaelc
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Post by michaelc on Dec 8, 2023 21:07:38 GMT
Can't help in terms of providing a review of Kroo but my experience shows to be a little careful using a new account as a "washing" account. More likely to be picked up by anti-fraud systems and leave you scrabbling around providing lots of paperwork. What is a washing account? Sounds a bit like money laundering but I'm sure the people talking about it on here are not doing that! Why don't you ask either the person that brought it up or the person that asked a bit more directly ?
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Post by bracknellboy on Dec 8, 2023 21:31:58 GMT
anyone here got experience of using KROO current account ? I'm looking for an additional current account, and this pays interest on balances at a decent rate. Having opened it, and deposited a test amount, I'm looking to do a withdrawal. I can't actually find a way of doing one, other than via contacts..... OK, I am now finding the answer I think. Though why on earth a payee should be labelled a Contact, and why it should initially ask me to access my address book contacts is a mystery. Clearly I'm not sufficiently 'down with the kids'. Still, leaving this here in case anyone else has experience of them and want to warn me of anything or give me some hints/tips. My intent is to use this as an account that I can "wash" quite a lot of money through (use it as a probate account) over the next x months. I have Kroo current account. Opened on 29th Jan 2023 because they paid top easy acces rate at the time emptied on 4th March because they they fell far behind the competition. They are paying 4.35% at the moment, which is far too low. However, their recent introduction of tracker rate set at 0.9% below the Bank of England’s base rate can become useful at some point in future. Kroo uses open banking only, that's why you can't set up payee in a traditional way. I like OB, but there are limitations, not all banks participate in this scheme. One downside is a daily transaction limit (£10k), I might be out of date on this but haven't heard of any changes of this limit. I have OB on a number of accounts. The issue wasn't the use of OB, it was the fact that when you want to try and setup a payment it starts talking about wanting access to your 'Contacts' and then uses 'Contacts' as its terminology. Anway, that issue is resolved: i've denied it access to my 'Contacts', but have created new 'Contacts' that are in fact 'Payees'. Having sussed it I can live with the 'down with the kids' terminology. I saw the £10k limit after having set it up. But it is using ambiguous terminology unfortunately. The Daily Limit of £10k is for "Paying Friends in App". Umm, no idea what that means since my 'payees' I have to setup as 'Contacts', not 'friends'. ON the other hand, Bank Transfer is set to £250k daily. I won't be able to live with £10k, But I can live with £250k. I may have to contact them again. But I'm waiting on them confirming they have verified my email address - since that ostensibly went wrong,
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Post by bracknellboy on Dec 8, 2023 21:41:37 GMT
Hey michaelc , you know any account better at "washing" a lot of money? As far as I know, avoid TSB new account getting lots of money as a new customer. It's very likely to have the account suspended and closed. No matter how much paperwork submitted, accounts remain suspended. Any bank should look with raised eyebrows at a new account from a new customer that's opened and suddenly "washes" a lot of money. Basic money-laundering red flags. this is a fair point. However, if the first major payee (sorry, 'Contact') is HMRC (to pay off IHT bill) then things might be a bit different. It nonetheless a reasonable point. But in the current situation, having a current account paying 'only' 4.35% when there will at least for a period be substantial amounts in there, is somewhat better than one paying 0.0%, so I may just have to
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benaj
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Post by benaj on Dec 8, 2023 21:47:57 GMT
I have never tried with Kroo asking higher limit, the max i did transfer was £9991. The £10k limit and the credit and debit kept being hold put me off putting more than £26k in February.
Speaking of new accounts experience, I saw combination of Chase and other Lloyds group bank may come in handy.
Those new challenger saving accounts work with open banking, and Chase are not often supported. Because of this, the only way is to take money out of chase to other bank for other OB transfers.
Chase can do £20k a day, OB are usually set to £50k daily, lloyds can be multiplied with more accounts
Quote from Kroo bot;
edit:
In order to pay large bill like IHt, a VIsa debit card might be more suitable for the hob. It supports any transaction under ££££££
Also, Chase doesn’t support CHAPS
More quote from Kroo bot
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