Updated September 28, 2026 · VaultCue Editorial Team
Kroo vs Wise
Kroo
Higher score in this comparison
Wise
Where Kroo and Wise differ
| Compare | KrooReviewSee alternativesSee alternatives | WiseReviewSee alternativesSee alternatives |
|---|---|---|
| Deposit protection | FSCS up to GBP 85,000 | EU DGS up to EUR 100,000 |
| Currency conversion fee | 0%Lower | 0.24% |
| Local account details | UK sort code | IBAN, UK sort code, Us ACHCovers more |
| Free ATM withdrawals | £0 | £250Higher |
| Transfer fee | Faster Payments GBP 0, CHAPS GBP 20; sending money outside the UK not available | From 0.24%, varies by currency |
| Licence type | Not confirmed | Payment institution |
| Currencies | Not confirmed | 40 |
Same on both: Monthly fee (£0).
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Key differences
- Kroo scores higher overall: 8.9 vs 8.8.
- Founded is lower at Wise: 2011 vs 2016.
- Wise is licensed in 2 more countries.
- Wise is available in 31 more countries.
- Currency conversion fee is lower at Kroo: 0% vs 0.24%.
- Local account details: only Wise offers IBAN, Us ACH.
- Free ATM withdrawals is higher at Wise: £250 vs £0.
- Support channels: only Kroo offers Email, Chat, Phone.
- Audience: only Wise offers Expats.
- Pricing model: only Kroo offers Low FX.
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.
Wise
Wise runs as a cash management account rather than a savings product, so it suits expats and travellers who need many currencies and no monthly charge, not people chasing the top rate. It scores 5.2 here, with a variable rate of 3.29% and a monthly fee of £0.
Score breakdown
| Area | Kroo | Wise |
|---|---|---|
| Cost | 9.4HigherMonthly fee £0, cash machine allowance £0 and conversion 0%, ranked 1 on the cost list. | 9.1A monthly fee of £0, a conversion fee of 0.24% and an exchange rate markup of 0% keep running costs low. |
| Offer | 9.1Higher | 8.640 currencies, local details for iban, uk sort code and us ach and a variable rate of 3.29% on the balance. |
| Trust | 8.4 | 8.8Higher |
Feature by feature
| Local account details | Kroo | Wise |
|---|---|---|
| IBAN | No | Yes |
| UK sort code | Yes | Yes |
| Us ACH | No | Yes |
What it costs in practice
A year with 1,000 spent abroad
Kroo
£0
12 × £0 + 0% of 1,000
Wise
£2.40
12 × £0 + 0.24% of 1,000
Kroo costs £2.40 less.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Positions in our rankings
| Ranking | Kroo | Wise |
|---|---|---|
| Savings accounts | 410 of 1420 | 494 of 1420 |
Every fact side by side
| Fact | Kroo | Wise |
|---|---|---|
| Audience | Travelers | Expats, TravelersCovers more |
| Pricing model | No monthly fee, Low FXCovers more | No monthly fee |
| Features | Free ATM, Digital onlyCovers more | Free ATM |
| Legal entity | Kroo Bank Ltd | Wise Europe SA |
| Headquarters | United Kingdom | Belgium |
| Founded | 2016 | 2011Lower |
| Support channels | Email, Chat, Phone, Help centreCovers more | Help centre |
Savings
| Fact | Kroo | Wise |
|---|---|---|
| Headline rate | 2.65% | 3.29%Higher |
| Rate type | Variable | Variable |
| Minimum deposit | £0 | Not confirmed |
| 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 access to money and gains; transfer up to 100,000 GBP (Personal) daily without delay |
| Account kind | Easy access | Cash management |
Money transfer
| Fact | Kroo | Wise |
|---|---|---|
| Exchange rate markup | Not confirmed | 0% |
| Payout methods | Not confirmed | Bank, Card |
Where each stands against the rest
| Fact | Kroo | Wise | Median |
|---|---|---|---|
| Monthly fee | £0at the median | £0at the median | £0 |
| Currency conversion fee | 0%below the median | 0.24%below the median | 0.5% |
| Currencies | Not confirmed | 40highest quarter | 5 |
| Free ATM withdrawals | £0at the median | £250highest quarter | £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.
Wise
Pros
- No recurring charge: the monthly fee is £0, matching the €0 site median while some accounts charge as much as €449.
- Conversion is cheap: a fee of 0.24% and an exchange rate markup of 0%, against a 0.5% site median conversion fee.
- Instant access on a floating return: money and gains come out without delay, and the variable rate stands at 3.29%.
Cons
- Support is self-service: help centre is the only channel listed, so there is no phone line or live chat listed for a stuck transfer.
- The rate is variable, so the 3.29% headline can fall, and the brand ranks 220 of 473 on headline rate.
- Moving money is not free: transfer fees are From 0.24%, varies by currency and converting adds 0.24% each time a currency changes.
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.
Wise
Who it suits
- Expatriates and travellers who hold money in more than one currency: the account is built for expats and travelers and covers 40 currencies.
- Anyone who wants a place to park cash without a recurring charge, since the monthly fee is £0.
- People who need money to arrive in local formats, since local account details are offered for iban, uk sort code and us ach.
Who should look elsewhere
- Plazo ES or AXI Card Tarjeta y Credito, whose headline rates of 24.19% and 21.59% are the ones to look at when the rate on the balance matters more than currency cover.
- PayPal Colombia, whose headline rate of 3.3% is close to 3.29%, so a saver gives up little on yield and gains nothing on the 40 currency range.
Country by country
| Country | Kroo | Wise |
|---|---|---|
| Australia | No | Yes |
| Austria | No | Yes |
| Belgium | No | Yes |
| Brazil | No | Yes |
| Bulgaria | No | Yes |
| Croatia | No | Yes |
| Cyprus | No | Yes |
| Czechia | No | Yes |
8 of 38 countries where either is available.
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.
Wise
What rate does Wise pay on money held in the account?+
The headline rate is 3.29% and it is a variable rate, so the figure can move rather than being set for a term. Interest is credited to the balance and the money plus the gains stay available, which suits someone who wants a return without tying funds away.
Is there a monthly fee for keeping money with Wise?+
The monthly fee is £0, and the account is built on a no monthly fee model, so there is no recurring charge to maintain it. The site median monthly fee is €0 while some accounts charge as much as €449, so this sits at the cheap end of the range.
Other options to compare
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