Get £5 with the Kroo referral scheme
The Kroo referral scheme is a straightforward way to pick up £5 in your new current account while trying out one of the UK's more interesting digital banks. Sign up through an existing customer's personal invite link, open a Kroo Personal Current Account, and make a qualifying card payment or ATM withdrawal, and £5 lands straight in your new Kroo balance — no vouchers, no gift cards, just cash added to a real bank account.
This is a genuine Kroo referral offer, run directly by Kroo Bank Ltd rather than a third-party competition site, and it sits alongside a wider current account that pays interest on your everyday balance rather than making you shuffle money into a separate savings pot. For anyone weighing up a switch to a fee-free, app-based bank, the referral bonus is a tidy bit of extra value on top of a product that already stands out in a crowded market.
It's worth being upfront about one important detail: Kroo's refer a friend programme is currently invite-only for the existing customers who send out links, meaning not every Kroo user has a link to share. If a friend, family member or colleague has sent you one, though, the offer below is live and fully verifiable against Kroo's own published terms.
What you get: £5 credited to your new Kroo Personal Current Account.
Referral code: No code required — the offer runs through a unique personal link shared by an existing Kroo customer.
How to activate: Open the shared link, enter your email address on the Kroo webpage, download the Kroo app and apply for a Kroo Personal Current Account using that exact same email address.
Qualifying action: Make your first payment on the account using a physical Kroo debit card, Apple Pay or Google Pay (an ATM withdrawal also counts). A transfer to a Kroo cash ISA or a loan repayment does not count.
Timing: Kroo aims to review new applications within 7 working days, payments can take up to 7 days to settle, and any reward is usually paid within 5 days of that qualifying transaction settling.
Offer window: The current Refer a Friend Scheme (July 2026 terms) is scheduled to run until 1 September 2026, though Kroo can close it earlier with at least 7 days' notice.
Kroo referral offer at a glance
| Detail | What applies |
|---|---|
| New customer reward | £5, paid into your new Kroo Personal Current Account |
| Referral code | No code required — link-based invite only |
| Qualifying spend | First card payment, Apple Pay/Google Pay payment, or ATM withdrawal |
| Excluded transactions | Internal transfers, cash ISA funding, loan repayments |
| Application review | Usually within 7 working days |
| Reward payment timing | Up to around 12 days after account opening, once the qualifying payment has settled |
| Scheme availability | Invite-only for existing customers; ends 1 September 2026 unless withdrawn earlier |
| Provider | Kroo Bank Ltd, a PRA/FCA-authorised UK bank |
How to claim the Kroo referral bonus
- Ask an existing Kroo customer for their personal referral link, or use the link attached to this page if one is available to you.
- Open the link on your phone and enter your email address on the Kroo webpage it takes you to.
- Download the Kroo app from the App Store or Google Play.
- Apply for a Kroo Personal Current Account using the exact same email address you entered on the referral webpage — this is how Kroo matches your application to the friend who referred you.
- Complete Kroo's identity verification, which typically involves scanning a passport or driving licence and taking a quick selfie.
- Once your account is open, add your virtual card to Apple Pay or Google Pay to start spending immediately, or wait for the physical card to arrive by post.
- Make a qualifying first payment — a card purchase, a mobile wallet payment, or an ATM withdrawal all count.
- Allow up to around 12 days in total for the payment to settle and the £5 reward to appear in your Kroo balance.
Because the Kroo referral scheme runs on personalised links rather than a text code, there's nothing to type in manually. If you apply without using a referral link, there's no way to attach a friend's invite retroactively, so it's worth getting the link sorted before you start your application.
Kroo Bank: a closer look at the platform
Kroo Bank Ltd is a London-based digital bank, authorised by the Prudential Regulation Authority and regulated by both the PRA and the Financial Conduct Authority. It launched its current account to the public in 2022 after several years of development, having started life as an e-money platform before securing a full UK banking licence. The bank has built its identity around a fee-free everyday account that pays interest on spending balances and leans into social features like group payments and bill splitting.
Products and services
- Personal Current Account — the core product, with no monthly fee, no minimum balance requirement, and variable interest paid on your everyday balance.
- Cash ISA — a tax-free savings option that sits alongside the current account inside the same app.
- Personal loans — borrowing is available directly through the app for customers who qualify.
- Overdrafts — Kroo offers a single overdraft rate rather than a tiered structure, which keeps pricing simple even if it isn't always the cheapest option for every customer.
Key features
- Interest on your current account — Kroo pays 2.65% AER (variable) on current account balances up to £500,000, which is unusual since most challenger banks only pay interest once money is moved into a separate savings pot.
- Fee-free spending abroad — no foreign transaction charges when you use your Kroo debit card overseas, with Visa's exchange rate passed straight through.
- Group payments — you can create shared spending groups in the app to split bills, track shared costs and settle up with friends who don't even need to bank with Kroo.
- Digital wallet support — Apple Pay and Google Pay are both supported from day one, useful if you want to spend before your physical card arrives.
- Real-time notifications — every transaction triggers an instant push notification, along with categorised spending insights inside the app.
Onboarding and everyday use
Signing up is done entirely through the Kroo app. New customers scan an identity document, take a selfie, and provide basic personal details; Kroo says most applications are processed automatically within minutes, though extra checks can push this out to around 7 working days. There's no need to chase customer support during this window — Kroo has said it will proactively contact applicants if there's an issue, and will confirm the moment an account is open. Once approved, a virtual card is available instantly for Apple Pay or Google Pay, while the physical card typically arrives by first-class post within three to five business days.
Pricing, fees and delivery
The Kroo current account has no monthly account fee, no charge for everyday spending, and no fee for using your card abroad. There's no minimum deposit needed to open an account. Kroo's single overdraft rate is currently 39.9% (variable), which is worth comparing against your existing bank before relying on it regularly, since some providers offer lower rates for smaller balances.
Rewards and loyalty mechanics
Outside the referral scheme, Kroo's main ongoing reward is the interest paid on current account balances, which functions as an everyday incentive to keep money in the account rather than moving it elsewhere. The Refer a Friend Scheme itself is capped: an existing customer can earn £5 for each of their first 10 successful referrals (up to £50 in total), even though they're permitted to make up to 30 referrals in total. New customers referred in are not subject to that cap and each receive their own £5 reward regardless of how many other friends the same referrer has invited.
Support
Support is handled through in-app chat, accessible from the "Account" section of the app, or by email. Kroo also runs a public Help Centre with searchable articles covering account opening, payments, groups and the referral scheme itself. As with most digital-only banks, there are no branches or telephone banking in the traditional sense, so anyone who values face-to-face service should factor that in.
Security and eligibility
- Deposits are protected up to £120,000 per eligible customer under the Financial Services Compensation Scheme.
- Applicants must be new customers who have never previously held a Kroo account and must not have already started a Kroo application before being referred.
- Kroo reserves the right to refuse or claw back rewards where it detects fraud or misuse of the referral scheme, and can cancel the scheme outright if it identifies wide-spread abuse.
- Standard UK banking eligibility applies: you'll need to be resident in the UK, aged 18 or over, and able to pass identity and address verification checks.
Limitations worth knowing
The referral scheme's invite-only structure means you can't simply generate a link yourself if you're not one of the customers Kroo has selected to participate, which makes the offer less predictable than a fully open referral programme. The £5 reward is also modest next to some rival banks' promotions, and the qualifying window for the payment to settle (up to roughly 12 days end to end) requires a bit of patience. As with any smaller, newer bank, it's sensible to keep some money in a separate, well-established account rather than treating Kroo as your only place to hold savings.
Practical scenarios for using the Kroo referral offer
- Scenario: switching from a fee-charging bank. Someone paying monthly account fees elsewhere uses a friend's Kroo link to open a fee-free current account, earns interest on their everyday balance for the first time, and picks up £5 simply for making their first card payment.
- Scenario: opening a secondary account for savings and interest. A reader who already banks with a mainstream provider opens a Kroo account purely to hold spare cash and earn 2.65% AER on it, treating the £5 referral reward as a welcome bonus on top.
- Scenario: splitting household bills. A group of housemates all switch to Kroo via each other's referral links so they can use the in-app group payment tools to split rent and bills, with each new joiner separately qualifying for their own £5.
- Scenario: frequent traveller. Someone who spends a lot of time abroad opens a Kroo account via referral specifically for fee-free card spending overseas, then triggers the reward with their first contactless payment while travelling.
How Kroo's account compares
| Account type | Monthly fee | Interest on balance | Best for |
|---|---|---|---|
| Kroo Personal Current Account | £0 | 2.65% AER (variable) on balances up to £500,000 | Everyday spending plus interest without a separate savings pot |
| Kroo Cash ISA | £0 | Tax-free variable rate | Customers who want to shelter savings from tax alongside their current account |
| Kroo personal loan | N/A (interest-based) | N/A | Existing customers needing to borrow through the same app |
Compared with mainstream high street current accounts, Kroo's key differentiator is paying interest directly on spending balances rather than requiring a move into a savings product, alongside genuinely fee-free spending abroad.
Who the Kroo referral offer suits best
- App-first banking customers who are comfortable managing money entirely through a smartphone and don't need in-branch services.
- Frequent travellers who want to avoid foreign transaction fees on everyday card spending.
- Savers who want a simpler setup, since interest builds directly on the current account balance without needing to create and manage a separate pot.
- Friends and households who want to split bills and track shared spending using built-in group payment tools.
- Anyone who already knows a Kroo customer with a live referral link, since the invite-only structure means this offer isn't accessible to everyone at once.
Referral FAQs
How much is the Kroo referral reward?
New customers who open a Kroo Personal Current Account through a qualifying referral link and make a qualifying first payment receive £5, credited to their new account.
Do I need a Kroo referral code?
No. Kroo's scheme works through personalised links rather than a text code, so you need to open your account via the actual link an existing customer shares with you.
Can anyone get a Kroo referral link to share?
Not currently. Kroo's Refer a Friend Scheme is available by invitation only to selected existing customers, so not every Kroo user will have a link available to send.
What counts as the qualifying payment?
A payment made with a physical Kroo debit card, Apple Pay or Google Pay, or an ATM withdrawal using the Kroo card. Transfers to a Kroo cash ISA or loan repayments do not count.
How long does the £5 take to arrive?
Kroo aims to review new applications within around 7 working days, qualifying payments can take up to 7 days to settle, and the reward is then usually paid within about 5 days after that, so allow up to roughly 12 days in total.
Is there a limit on how many people can be referred?
An existing customer can earn a £5 reward for their first 10 successful referrals, although they're allowed to make up to 30 referrals in total. This cap applies to the referrer, not to the reward each new customer receives.
When does the Kroo referral scheme end?
The current scheme, under its July 2026 terms, is scheduled to run until 1 September 2026, though Kroo can close it earlier with at least 7 days' notice or immediately in exceptional circumstances.
Is Kroo a real, regulated bank?
Yes. Kroo Bank Ltd is authorised by the Prudential Regulation Authority and regulated by the PRA and Financial Conduct Authority, and eligible deposits are protected up to £120,000 under the Financial Services Compensation Scheme.
Verdict
The Kroo referral scheme is a modest but genuine way to earn £5 while opening a current account that already does more than most to reward everyday balances, thanks to its 2.65% AER interest rate and fee-free spending abroad. The invite-only nature of the referral programme means it won't be available to everyone at every moment, but for anyone who receives a link from an existing Kroo customer, it's a low-effort, low-risk way to add a little extra value to switching to a fee-free digital bank. Combined with Kroo's straightforward onboarding, FSCS protection and useful group payment tools, it's a referral offer worth taking up if the opportunity comes your way.
