Pockit review
Get to know one of the new faces in digital banking, by using our guide to explore the features and fees of Pocket's online current account.

Pockit believes “that accounts should be available to all, regardless of income or credit status.” Seeing high-street bank accounts as unreachable for many of the most vulnerable, Pockit provides accessible and affordable prepaid card accounts to anyone regardless of credit history or income. Pockit uses smartphone technology and the best of traditional bank accounts to deliver a service which it hopes will work for everyone.
Apart from the online registration process and the physical card you are sent in the post, Pockit provides all its services directly from your smartphone. The app is simple and functional, streamlining the necessary processes rather than relying on gimmicks, bells and whistles.
The home screen displays your balance, account number and sort code, as well as your most recent transactions. In the app you will be able to:
You will also be able to earn cashback with Pockit. If you pay with your Pockit card online or instore, you can earn up to 8% cashback at selected retailers. If you upgrade to Pockit Extra, you’ll also earn 1% cashback on your everyday purchases and direct debits (up to £250 spend), while the Pockit Fast Track to Credit plan offers an additional 2.5% cashback. These 2 plans also offer purchase insurance cover up to £1,000.
There are 4 ways you can put money into your account.
If you’re depositing cash, your funds will transfer into your Pockit account instantly. It can take up to 30 minutes for this to show on your balance and statement. Bank transfers are usually quick, but can take up to 2 hours.
In terms of transferring money to someone, it should take around 2 hours for your money to reach the person you’re paying. This is as long as you transfer during normal working hours.
Travelling with Pockit’s prepaid card is possible, but it wasn’t intended for use abroad. Pockit’s cards are accepted around the world, wherever you see the Mastercard sign. However, unlike some other prepaid cards on the market, Pockit’s come with a hefty charge of 4% when used overseas. If you are looking for a card to travel with it might be better to look elsewhere.
Pockit offers 4 different plans. The Everyday plan costs £2.49 a month, the Extra plan costs £6.99 a month, and the Fast Track to Credit plan (designed to help you build credit) is £9.99 a month. There’s also a pay as you go plan with no monthly fee, but you won’t get cashback and other charges apply. This makes it best for occasional use.
Depending on the account you choose, different fees will apply for certain transactions.
The fees below are for an Everyday plan as a full account holder (you’ll be a full account holder once you’ve verified your ID):
Actions | Fees and Limits |
---|---|
Your contactless Pockit Mastercard | 99p to £19.99, depending on your chosen delivery method |
Paying in with cash | 1.99 |
UK national transfers | £1.29 |
UK ATM withdrawals | 1.99 |
Monthly membership fee | £2.49 |
International ATM fee | £2.25 |
Foreign Exchange fee | 4% |
Direct debits | 99p |
Top ups via bank transfer | £10,000 per month |
Cash deposits | £249 at a time |
Adding money via debit card | £3,000 a month |
Withdrawals | £250 a time and £5,000 a month |
Pockit’s fees are reasonable given its accessibility, but you may be able to find an account with another challenger bank that relies less on fees.
Security is very important to Pockit, and as such a number of measures are in place to keep your money safe. Registration requires little personal information, making it more difficult to have your identity compromised.
Your account is kept behind a password and a security question must be answered to access your pin and some of the app’s money-handling functions.
However, as Pockit is not a bank your money won’t be protected by the Financial Services Compensation Scheme (FSCS). Instead, Pockit is an agent of PayrNet Ltd which is an electronic money institution authorised by the Financial Conduct Authority (FCA). This means your money must be held in segregated accounts to keep it safe.
Pros
Cons
Email support | |
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Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
Pockit can be an alternative to a traditional current account if you want something more techy or are having a hard time qualifying for one because of a not-so-perfect credit score. It also wins points for offering a credit builder feature on one of its plans.
However, Pockit’s fees aren’t especially competitive. Even if you’re having trouble getting a traditional account, you could still qualify for a basic current account (which has all the features of a current account except for overdrafts) or for a current account with a digital bank like Monzo or Starling (they only check your credit score when you apply for an overdraft). All of these charge no monthly fees and offer free ATM withdrawals, transfers and payments in the UK.
All in all, you could still consider Pockit for its slick app and ease of use (and we love the bright yellow branding!), just keep in mind that it isn’t the cheapest kid in town.
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