iFAST Global Bank vs Kroo: Which Digital Bank Fits Your Money Style?

Two Different Approaches to Digital Banking 

iFAST Global Bank: Focused on International Flexibility 

iFAST Global Bank is designed for users who need more than a standard current account. 

• Its Multi-Currency Current Account allows customers to hold up to nine currencies in a single place, making it easier to manage international payments and foreign exchange without switching between accounts. 
• Balances also earn interest, meaning funds can generate returns while remaining accessible. 

This approach may suit individuals who regularly send or receive money across borders, or who manage finances in multiple currencies. 

Kroo Bank: Simple Everyday Banking with Built-In Interest 

Kroo takes a more streamlined approach, focusing on everyday banking in GBP. 

• Its standout feature is that it pays interest directly on current account balances—without requiring users to move money into separate savings accounts. 
• The app also includes built-in spending insights and categorisation tools, helping users track and manage their finances more effectively. 

This model is designed for users who want a simple, all-in-one account that combines spending and saving. 

Key Differences 

International Capability 

• iFAST Global Bank is built for international use, with multi-currency support and global transfers 
• Kroo is primarily focused on GBP accounts, with limited international transfer functionality 

For users with cross-border financial needs, this is a significant distinction. 

Interest on Everyday Balances 

Both banks offer interest on current account balances, which is still relatively uncommon in the UK: 

• iFAST Global Bank offers approximately 2.65% AER (variable) on GBP balances 
• Kroo offers around 2.65% AER (variable), typically linked to the Bank of England base rate 

iFAST combines interest with multi-currency functionality, while Kroo focuses on simplicity and ease of use. 

Savings Approach 

• iFAST offers fixed-term deposits with higher rates, alongside interest on current balances 
• Kroo integrates savings into the current account and also offers a Cash ISA option 

This reflects a broader difference: iFAST provides more structured savings options, while Kroo keeps everything within a simplified ecosystem. 

Overall Experience 

• iFAST Global Bank is geared towards users with international financial needs 
• Kroo is designed for everyday UK banking with a clean, user-friendly app experience 

Which Bank Might Suit You? 

iFAST Global Bank may be suitable if you: 

• Manage money across multiple currencies 
• Need international transfer capabilities 
• Want interest on balances while maintaining flexibility 
• Prefer a globally focused banking solution 

Kroo Bank may be suitable if you: 

• Want a straightforward GBP current account 
• Prefer earning interest without moving money into savings 
• Value budgeting tools and spending insights 
• Primarily manage finances within the UK 

Final Thoughts 

Both iFAST Global Bank and Kroo Bank offer modern alternatives to traditional banking, but they are designed with different priorities in mind. 

• iFAST Global Bank focuses on international banking and multi-currency flexibility 
• Kroo Bank focuses on simplicity and earning interest on everyday balances 

The better choice depends on whether you need global functionality or a streamlined everyday banking experience. 

Disclaimers

This content is for informational purposes only and does not constitute financial advice. Financial products, interest rates, and features may change. Always review the provider’s official documentation before making financial decisions. 

*Interest rates are variable and subject to change. 
#Fixed-term deposits are subject to terms and conditions, including restrictions on early withdrawal. 
^Debit card availability may depend on eligibility.