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Pockets by ICICI Bank review

Make payments on-the-go and avail exciting deals with ICICI Bank’s Pockets app.

Pockets is a VISA-powered e-wallet that lets you make payments on any Indian website or store without having to pull out your debit card. Transfer money from any bank account and avail exciting deals on your favourite brands.

In this review of Pockets by ICICI bank, we break down all of its features, costs and limits to find out if this account is the right one for you.

How does ICICI Bank Pockets work?

Pockets by ICICI Bank is a VISA-powered e-wallet that you can use to send money to your contacts, pay your bills, make purchases at stores and much more. It also offers amazing deals on your favourite brands with every transaction made via the wallet.

You can transfer funds to your wallet directly from your ICICI bank account or from any other bank’s account. It also comes with a physical card that you can use to shop on any Indian website or retail store.

Key features

  • Contactless payments. The ‘Scan to Pay’ feature lets you scan the QR code at the store using your smartphone and make the payment. You can also pay using the UPI feature on the Pockets app.
  • Instantly create a UPI ID. Pockets automatically creates a UPI ID for you when you create an account.
  • Amazing offers. Pockets offers you the best deals on your favourite brands right in the app.
  • Transfer money to anyone, anywhere. Pockets lets you transfer money to any bank account and mobile number. It also lets you request money from your friends.
  • Online chat support. ICICI Bank offers online chat support right in the app.
  • Fund your wallet from any bank account. Pockets allows you to fund your wallet from any bank account, ICICI or otherwise.
  • Choose the right transfer option. Choose from a variety of options (internet banking, bank transfer or even your contact) to add funds to your wallet.

Fees and limits

Although there is no charge associated with creating a Pockets account, there are certain fees and limits that you should be aware of:

  • You can only earn a limited number of rewards per month depending on the type of transaction (bill payment, recharge etc.).

Pros and cons

Pros

  • Supports any bank account. Transfer funds to and from any bank account, ICICI or otherwise.
  • Exciting deals. Earn rewards and benefits for transactions made with the app.
  • Online support. Get immediate assistance with online chat support.

Cons

  • Mandatory KYC completion. You need to update KYC details to transfer or receive funds and make payments.
  • Limited Pocket Rewards. There are only a limited number of rewards per month depending on the type of transaction.

The verdict

Pockets by ICICI Bank is an e-wallet that lets you make digital payments on any Indian website or retail store using UPI. The best part about the offering is that you can link any bank account to your Pockets account. In addition to this, you get access to a virtual debit card and tons of offers and rewards. These offers are available even if you don’t have an ICICI bank account.

However, there is a limit on the number of rewards you can earn per month. Moreover, making bill payments and money transfers through the app requires that you complete your KYC. Overall, the Pockets account is a decent e-wallet but there are better offerings available in the market.

How to sign up

To get started, just follow these steps:

  1. Download the Pockets app on your android or iOS smartphone
  2. Enter your basic demographic information
  3. Verify your mobile number
  4. Create a user ID and password of your choice

To start using Pockets, you also need to transfer funds to your account. You can do so from your ICICI bank account or from any other bank’s account.

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