Updated September 28, 2026 · VaultCue Editorial Team
Kroo vs Monzo
Monzo
Kroo
Higher score in this comparison
Where Kroo and Monzo differ
| Compare | KrooReviewSee alternativesSee alternatives | MonzoReviewVisitVisit |
|---|---|---|
| Free ATM withdrawals | £0 | £200Higher |
| Transfer fee | Faster Payments GBP 0, CHAPS GBP 20; sending money outside the UK not available | 0 for UK transfers and foreign-currency card spend; international transfer up to GBP 9 fixed plus 0-1.80% |
| Currency conversion fee | 0% | Not confirmed |
| Currencies | Not confirmed | 38 |
| Local account details | UK sort code | Not confirmed |
Same on both: Monthly fee (£0), Deposit protection (FSCS up to GBP 85,000).
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Key differences
- Founded is lower at Monzo: 2015 vs 2016.
- Kroo is available in 3 more countries.
- Free ATM withdrawals is higher at Monzo: £200 vs £0.
- Support channels: only Kroo offers Email, Chat, Phone.
- Audience: only Kroo offers Travelers.
- Audience: only Monzo offers Business, Teen.
- Pricing model: only Kroo offers Low FX.
- Features: only Kroo offers Free ATM, Digital only.
- Features: only Monzo offers Joint account.
Our verdict on each
Kroo
Kroo is a UK digital current account for people who spend and send money abroad, with a monthly fee of £0 and currency conversion at 0%. Interest lands on the cleared balance at a variable 2.65%, credited monthly, so the account pays you while the money waits.
Monzo
Monzo suits UK residents who want a fee-free current account, a linked instant-access savings pot and card spending abroad without a markup. The current account runs a monthly fee of £0, savings pay 2.75% to 3.5% variable, and deposits are covered by the FSCS: FSCS up to GBP 85,000.
Score breakdown
| Area | Kroo | Monzo |
|---|---|---|
| Cost | 9.4HigherMonthly fee £0, cash machine allowance £0 and conversion 0%, ranked 1 on the cost list. | 9.3Current account monthly fee of £0 and a 0% exchange rate markup on foreign-currency card spend. |
| Offer | 9.1 | 9.2HigherInstant-access savings paying 2.75% to 3.5% variable, instant withdrawals, a joint account, 38 currencies and a free cash machine allowance. |
| Trust | 8.4 | 8.4 |
How they place
| Ranking | Kroo | Monzo |
|---|---|---|
| Savings accounts | 410 of 1420 | 29 of 1420 |
Every fact side by side
| Fact | Kroo | Monzo |
|---|---|---|
| Audience | Travelers | Business, Teen |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Free ATM, Digital only | Joint account |
| Legal entity | Kroo Bank Ltd | Monzo Bank Limited |
| Headquarters | United Kingdom | United Kingdom |
| Founded | 2016 | 2015Lower |
| Support channels | Email, Chat, Phone, Help centreCovers more | Help centre |
Savings
| Fact | Kroo | Monzo |
|---|---|---|
| Headline rate | 2.65% | 2.75% to 3.5%Higher |
| Rate type | Variable | Variable |
| Minimum deposit | £0 | £0 |
| Access terms | Interest calculated daily on the cleared balance and credited monthly; account operated in-app 24/7, no notice period, close at any time | Instant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+ |
| Account kind | Easy access | Easy access |
Money transfer
| Fact | Kroo | Monzo |
|---|---|---|
| Exchange rate markup | Not confirmed | 0% |
| Delivery time | Not confirmed | Same day for 95% of customers, average 1 day |
| Payout methods | Not confirmed | Bank, Card |
| Fee to send 1,000 | Not confirmed | £0 to £9 |
Where each stands against the rest
| Fact | Kroo | Monzo | Median |
|---|---|---|---|
| Monthly fee | £0at the median | £0at the median | £0 |
| Currency conversion fee | 0%below the median | Not confirmed | 0.5% |
| Currencies | Not confirmed | 38highest quarter | 5 |
| Free ATM withdrawals | £0at the median | £200above the median | £0 |
Median across 536 listed accounts.
Pros and cons
Kroo
Pros
- A monthly fee of £0 and a cash machine allowance of £0 on the current account.
- Currency conversion of 0%, with the account aimed at travelers.
- FSCS up to GBP 85,000, with the Financial Conduct Authority as regulator under licence 953772.
Cons
- Digital only banking, with support running on email, chat and phone.
- Transfers are split by scheme, with Faster Payments free and CHAPS carrying a charge on the current account.
- The variable 2.65% is easy access money rather than a savings return, sitting under the 3% site median.
Monzo
Pros
- No monthly fee on the current account: £0
- No exchange rate markup on foreign-currency card spend: 0%
- Savings pay a variable rate of 2.75% to 3.5% with instant withdrawals and interest paid monthly
Cons
- Support runs on help centre only
- Savings need a Monzo current account first, and the pot sits in an easy access product
- International transfers charge £0 to £9 plus a percentage, unlike UK transfers and foreign-currency card spend, which cost nothing
Who each suits
Kroo
Who it suits
- People who travel often and spend in other currencies, since the account is aimed at travelers and conversion runs at 0%.
- UK residents happy to run everything in the app, with support on email, chat and phone and a minimum deposit of £0.
- Anyone keeping a sterling balance as a rainy day fund, with FSCS up to GBP 85,000 and interest credited monthly.
Who should look elsewhere
- Anyone who needs to send money outside the UK from their account, since those transfers are not available; a euro option such as Bit2Me, monthly fee €0, is worth weighing.
- People who want a card led everyday account instead of an app based one, weighing Kroo against the Varo Visa Debit Card, monthly fee $0.
Monzo
Who it suits
- UK adults and teens who want everyday spending with no monthly cost
- Savers who want instant access to their money without a notice period
- Travellers who spend abroad often, given the 0% markup and 38 currencies
Who should look elsewhere
- Anyone chasing a fixed-term rate, since the savings rate is variable and money comes out instantly
- People who want phone or email help, because support runs on help centre only
- Shoppers who only need a wallet for online payments can look at PayPal Colombia instead, where the monthly fee is $0
Current offers
Monzo
Current offer
Free trial
3 month free trial of YouTube Premium Lite included with the Max plan: 3 months free YouTube Premium Lite
Max plan subscribers, aged 18-69, 3 month minimum term, UK residents, Ts&Cs apply
Source, checked September 26, 2026
Country by country
| Country | Kroo | Monzo |
|---|---|---|
| Guernsey | Yes | No |
| Isle of Man | Yes | No |
| Jersey | Yes | No |
| United Kingdom | Yes | Yes |
Questions about each
Kroo
What does Kroo charge to hold the account?+
Kroo's current account charges a monthly fee of £0, with a cash machine allowance of £0 and currency conversion of 0%. Those are the fees published for the account, and the balance earns a variable 2.65% credited monthly.
Is money in a Kroo account protected?+
Deposits are covered by FSCS up to GBP 85,000, and the account is held at Kroo Bank Ltd, based in the United Kingdom, with the Financial Conduct Authority as regulator under licence 953772. Help runs on email, chat and phone.
Monzo
What does Monzo charge each month?+
The current account has a monthly fee of £0, and the pricing model it runs on is no monthly fee. The savings side carries no monthly charge either, with a minimum deposit of £0. The legal entity behind both is Monzo Bank Limited.
Is my money protected?+
Deposits are covered by the FSCS: FSCS up to GBP 85,000. In the UK the account is regulated by the Financial Conduct Authority and the Prudential Regulation Authority, so it is a bank rather than an e-money wallet. The legal entity is Monzo Bank Limited, based in the United Kingdom.
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