Pockit News

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Activating your Pockit MasterCard is simple. To do so, please follow the instructions below.

1.       Log into your online account at Pockit.com

2.       Click ‘Your Cards’ in your online account

3.       Click the yellow ‘ACTIVATE’ button next to the card you wish to activate

4.       Provide you date of birth and the last four digits of your new Pockit MasterCard number (the 16-digit number on the front of your card)

5.       And you’re done!  Once you’ve activated your Pockit MasterCard, you can get your PIN by clicking ‘Pin Settings’ and start paying into your Pockit account.

Activate My Pockit MasterCard now!

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Back in 2014, Pockit was founded on the premise that smart, secure financial products and services should be accessible to everyone.

In our first month, 133 people signed up.

We knew we were doing something right when that number kept growing and growing - and we're now delighted to announce that we have 100,000 customers!

Not only that, we’ve also had more than £100,000,000 transacted through our platform!

We’re absolutely thrilled to have achieved these two major milestones! 

And so, to our customers – those who have stood by us through it all – the Pockit team would like to say a massive thank you.

Thank you for trusting us to help you manage your money better. Thank you for the feedback that’s helping us make your experience quicker and easier. And thank you for continuing to spread the word about our useful yellow card, and our easy yellow app!

To you, we promise that we’ll continue to build the best product, and provide the best service, possible.

Our plans are ambitious. Once we’ve given you all account numbers and sort codes, we'll be launching Direct Debits for easy bill payments, and the ability to send money abroad at good rates. And there’ll be plenty more following that!

We believe everyone deserves access to modern, transparent banking services, no matter who they are. The Pockit team remain committed to building the world’s most inclusive bank!

Pockit has made the national news – read and share these articles in The Sun and The Times.

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Not having a bank account is expensive - a situation applicable to nearly 2 million adults in the UK.  Without a bank account, daily activities such as paying bills, making discounted purchases online, and sending money to friends and family are much more difficult, if not impossible.

According to the Financial Inclusion Commission, lacking a bank account can cost nearly £1,300 a year, making money management and financial planning all the more strenuous.

At Pockit, we aim to make people’s lives easier. That’s why our mission is to provide our customers with essential banking services, without the fuss and fees that can come with opening a bank account.

Very soon, you are going to be given a unique account number and sort code for your Pockit account. Over time, this will enable you to make transfers directly in and out to different bank accounts without needing your Pockit reference number, and set Direct Debits up to pay your bills.

It opens up a whole host of exciting opportunities, providing the important services you need, minus the burden of costly overdrafts and hidden fees. With our new services, you will be able to send and receive money to and from non-Pockit account holders, have your monthly bills collected automatically, join a movie streaming website or gym, and much more.

The new features will be made available in three phases, over the next few months:

1.       Transfers into your Pockit account (using your new account number and sort code)

2.       Transfers out

3.       Direct Debits

We are currently testing with a small group of customers and will be launching account numbers and sort codes gradually after then.

Stay tuned for more details!

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Need a secure account to pay your wages and benefits into? Sick of carrying cash or paying unnecessary charges to convert your cheques? Pockit has the answer!

Pay your wages and benefits into your Pockit account for absolutely FREE, as often as you like; whether that’s weekly, fortnightly or monthly.

The benefits of having your wages & benefits paid into your Pockit account are:

• It allows you to shop for cheaper deals online the moment you get paid

• It’s a safe and easy solution to carrying cash

• It lets you pay bills online or over the phone

How to get set up…

It takes just a few simple details to get started.

For wages or salary, you will need:

• Details of your payment (employer’s name, amount, day of month/week)

• Proof of employment and a payslip

For benefits or pensions, you will need:

• Details of your payment (national insurance number, amount, day of month/week)

• Proof of benefit or pension

Join the thousands of Pockit customers who are already paid regularly into their accounts and make the most of your secure and rewarding Pockit account.

Want more from your lower limit account?

If you are a lower limit account holder, you can pay in up to £2,000 a year. 

Upgrade to our full limit account today where you can pay in up to £30,000 a year - perfect for your wages and benefits. 

Click here to upgrade!

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For all our green-fingered friends out there, we have something special to offer you...

Pockit are exclusively offering an extra 2% (9% in total) Cashback at any Wyevale Garden Centre when you spend using your Pockit card. This fantastic offer runs until 9th October.

It's bulb season so even more reason to head down to your local Wyevale Garden Centre in preparation for a vibrant Spring garden!

Why not make a day of it and bring the whole family along this weekend? There's so much to do and see at your local centre.

What's more, Pockit Cashback is included on top of any other Wyevale offer or sale - see offers.

This offer is valid from 26/09/2016 to 09/10/2016. Cashback is earned on anything purchased through the Wyevale Garden Centre tills, or in the food and dining areas, including restaurants. The offer does not apply to concessions where they operate their own tills. Cashback will be applied directly to your Pockit account balance within the next 60 days. 

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More than two months on from the referendum in which Britain voted to leave the European Union, the story is one that continues to fill newspaper columns and keep the country in a state of anticipation and uncertainty.

So what does it all mean for Pockit? Will we be negatively affected by Brexit?

The short answer is ‘no’. We do not foresee Brexit having any significant negative impact on our product or service moving forward.

Our product is specifically built for UK residents, so Britain’s relationship with the EU should have no direct impact on us or the service we provide.

We are not affected by any changes that may happen to the laws and regulations governing financial institutions that operate cross-border in the EU, including the ‘passporting’ rules.

Our team is also well constructed and we are confident that we will continue to attract the best talent here, whatever Brexit’s impact on immigration policy.

Our vision is one that consistently inspires candidates and our team goes from strength to strength.

So, however Brexit plays out, we remain resolute in our ambition to create the world’s most inclusive bank – and convinced that we’re well on the way!

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It’s back! Yes, we’re offering Pockit customers an additional 1% cashback at CarpetRight this September with a spend of £250 or more.

Get rolling into Autumn by shopping in-store or online at CarpetRight with your Pockit card. 

Look out for some special offers in the last of the Summer Sale... CarpetRight have a huge selection of carpets, laminate, rugs, beds and mattresses to choose from. 

Visit one of the UK’s largest floor covering retailers, or shop online today at www.carpetright.co.uk.

Spend £399 on a beautiful Ria Fabric Bed Frame and receive a whopping £35.91 cashback. Or spend £279 on an Aurora White Rug and earn £25.11 cashback, credited directly to your Pockit account balance within 60 days!

Visit Carpetright’s Inspiration and Advice page for the latest trends, ideas, and how-to guides or come in and speak to an expert in-store.

So there’s really no excuse. Get down to your local Carpetright and make the most of our great September offer!

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The Pockit team are working every day to make your financial life simpler than ever.

And we know that there’s one particular feature our customers have been itching for us to introduce.

So here it is. It’s the moment you’ve been waiting for. Contactless Pockit MasterCards have arrived!

Contactless allows you to make payments of up to £30 without needing to enter your PIN in the reader.

It’s quick, easy and perfect for those who can’t remember their PIN! Contactless payments are available on any card machine displaying the contactless symbol (See image below).

Click here to purchase your Contactless Pockit MasterCard for just 99p.

Simply confirm your address, approve a payment of 99p, and we’ll get your contactless Pockit MasterCard sent out straight away. Please be aware that your PIN number may change when you receive your new Pockit MasterCard.

The Pockit team are really looking forward to launching even more great new features in the next few months.

But, for now… Happy tapping!

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The Pockit team works with just one thing in mind. Our customers. It is our mission to deliver a product that simplifies their lives and frees them from worry.

But how do we understand what our customers need?

Well, we visit them in their homes, and get chatting!

I was lucky enough to kick-off this project and am extremely proud to share these amazing stories with you.

I am doubly pleased that Pockit People get to be front and centre of our brand new, sparkling website.

The team and I had the incredible chance to get to know our customers - what they do; how they live; what makes them tick!

And we’ve enjoyed every minute of hearing their fascinating, and often inspiring, stories.

After meeting our first six customers, we can say with great pleasure that Pockit has helped everyone from a corporate driver to a selfless charity worker. People from all walks of life!

Pockit helps them to manage their money more effectively, and, in some cases, even change their lives. Yes, really.

Take Andrei, for instance, a fashion blogger and photographer. He arrived in the UK a year or so ago from Romania and found that he was unable to meet the outdated criteria traditional banks insist on. He was stuck and needed an account to pay his wages into.

That is where Pockit stepped in. Our friendly, uncomplicated online form gave him an instant account, and card in the post the next day. At Pockit, we welcome everybody.

“Pockit came out on top,” Andrei told us. “A year or so ago I was struggling to get things off the ground. It may sound a bit cheesy, but Pockit was a lifeline – so thank you.”

Pockit People like Andrei have motivated the Pockit team to continue providing products and services for those traditional financial services have left behind or for anyone needing a fairer and uncomplicated alternative.

Meet our Pockit People today by clicking here – and don’t miss the Pockit People stories we’ll be posting in future!

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You may have noticed that our website has acquired a new look.

The Pockit team take great pride in offering a transparent, modern product which is straight-forward to use and available to everyone.

We have worked hard to reflect these core principles in the design of our new site.

We are also pleased to introduce our new Pockit People section, giving accounts of how Pockit is helping real people from all walks of life manage their money better.

Their fascinating stories have encouraged us to continue growing the Pockit community and broadcasting the great benefits our product offers.

Because, though our website may have changed, the advantages of Pockit remain the same.

Pockit charges are still free or just 99p. Pockit still provides a mobile app to help customers manage their money on-the-go. And Pockit still offers great cashback at a wide range of leading retailers.

We hope you enjoy using our new website as much as we have enjoyed designing it.

Happy surfing!

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The most frequent topic I encounter when speaking to Pockit customers is the problems they face trying to obtain basic budgeting tools, like bank accounts.

Without these services, many hardworking people find themselves stuck in a continuous cycle of debt and anxiety, unable to climb the ladder of economic mobility.

Wherever they turn for help, predatory organisations are looking to exploit them with hidden fees and unethical interest rates.

This, to me, is wrong. I have always believed that nobody should be left behind by the financial system.

Last Wednesday, almost 250 experts from traditional banks, investors, challenger banks, universities, charities and advice groups came together to discuss this problem at the Financial Inclusion Summit in London.

The event was sponsored by Bloomberg and Concentric Ventures, one of Pockit’s major investors.

It provided a brilliant opportunity to raise awareness around an issue I care so passionately about and one which is seldom discussed in the UK.

Keynote speaker Baroness Philippa Stroud, Director at leading think tank the Centre for Social Justice told the summit: “Financial inclusion is important for society as a whole because a considerable number of people in this country suffer from stress and worry because of debt.”

Only this week, research by Pockit – featured in The Sun and The Mirror – revealed that one in eight British people have been turned down for a bank account or debit card in the last two years.

It is, however, encouraging to see the many ways in which FinTech groups are tackling the problem.

From basic bank accounts to credit builders and loans, forward-thinking startups are helping thousands to access essential monetary services.

It is also interesting to hear how much we can learn from pioneering businesses in the developing world, where a far larger proportion of workers are without access to conventional banking.

I am more optimistic than ever that as recognition of the financial inclusion issue continues to grow, business and government can work together to develop solutions which serve the social good.

I am equally determined that Pockit will continue to lead the way in enabling everybody, regardless of personal circumstances or background, to access the fair and transparent money management tools they need.

Virraj Jatania, CEO & Co-founder at Pockit

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Pockit are delighted to be named as one of the FinTech50 – an annual list of 50 European FinTech companies transforming financial services.

It is one of the most coveted lists of its kind, and is selected by an independent panel of 44 industry experts.

FinTech is the combination of innovative digital technology, like mobile apps, and financial service products, such as cards and current accounts.

The fusion allows for the creation of products which are transparent, simpler to use, when compared to traditional monetary frameworks, and available to all, regardless of income or credit status.

The FinTech50 highlighted that Pockit already “has 60,000 customers” and grew “500% on almost every metric” last year.

These figures show that our product is fast becoming the primary way for significant numbers of people to manage their money.

We are proud to be part of the FinTech revolution which grew out of the 2008 financial crisis, creating an appetite amongst many people for established and outdated banking practices to be challenged.

Pockit strives to achieve this through technological advancement which is why we have a dedicated in-house development team.

It enables us to be agile in crafting features tailored to meet the needs of our customers, meaning that your suggestions and feedback can truly influence the services you receive.

Pockit are confident that, with the support of the Pockit People who use our product, we can continue to take the complication and stress out of day-to-day banking.

And we have some very exciting new features to bring you in the coming months.

We believe that Pockit, and other FinTechs like us, can transform your relationship with money permanently, and for the better.

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Customers value trust and dependency, especially when it comes to managing their hard-earned money.

They want to know that there are people working day and night to keep their finances secure, and ready to act quickly and professionally in the unlikely event that their personal information comes under threat.

The Pockit team recognise this which is why we are constantly looking at ways to keep our customers’ money safer.

We want our customers to feel confident using their Pockit card and account whenever and wherever they like, but it is important to remember that there are always people looking to dishonestly convince you to part with cash.

We would remind all customers to be vigilant with emails received and pop-up windows on websites.

Of course, we all dream of winning the lottery but, as the adage goes, if it seems too good to be true, it probably is.

Here are some simple tips to keep your Pockit card and account safe:

·  Sign your Pockit card as soon as you receive it

·  Keep your Pockit card PIN in a confidential place, separate from your card (or memorise it)

·  Destroy and throw away copies of anything that displays your Pockit card number

·  Research any online retailer you are unfamiliar with before making a purchase

·  Check out unfamiliar companies by calling your local consumer protection agency

·  Never provide information that you're uncomfortable giving

·  Never give anyone the password that you use to log into your Pockit account

·  Make sure you run regular antivirus checks on your computer

If something doesn’t feel quite right when using your Pockit card, be sure to approach it with an appropriate level of caution. It could save you a great deal of hassle in the long run.

It’s important to emphasise that, for the majority of customers, situations of this kind will never arise.

Nevertheless, you can take comfort in knowing that the Pockit team are always here to assist you and ensure that your hard-earned Pockit funds are protected at all times.

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Credit cards have been associated with many problems and pitfalls since their creation in the late 1950's. The market is well-established and hugely important for UK consumers, who hold around 70% of all credit cards in Europe. Britons have the privilege of being able to buy practically whatever they want but, naturally, this comes with a greater risk.

Research in 2015 by the Financial Conduct Authority showed that many consumers tried to resist the lure of credit cards “but were eventually worn down by continual marketing”, especially when companies sent them targeted mailings pre-approving them for cards.

There has been some revealing data produced by several charities, one of which is Step Change, who showed that too many people are using credit as a safety net.

As a consequence, many people are struggling with multiple debts, high monthly payments and interest rates, coupled with inaccessible support that should be a standard part of customer care.

Lenders generally set minimum monthly payments so low they barely cover the amount of interest charged on the debt - typically about 3% of the total balance. In practice, this means that repaying the minimum balance on a £2,000 credit card at an interest rate of 17% takes 32 long years to pay back.

Moreover, the Hardship Programme offered by credit card companies, supposedly to provide help to those with trouble paying their balance, is often difficult to both access or use and is recorded on a customer’s credit score. These concealed programmes demonstrate that not only are there surface level difficulties with credit in application and identity but also once a card is acquired. Hidden numbers and the constant struggle to gain customer support from credit providers mean that many customers feel that help is out of reach.

The FCA have said that three million Britons do not pay off debts, as figures show consumer credit rose by 8.3% in the year to November 2015, with borrowing on credit cards up by £411m. And with British families projected to spend a combined £40 billion more than they earn in 2016, there are fears that economic growth fuelled by the rise of debt could collapse.

The young are also hit hard, with over a fifth more young people now seeking debt help compared to the previous year, demonstrating that credit is not a concern merely for one demographic.

Time Magazine offered a contrasting view, suggesting that the real problem is with the Cardholders. It is human nature to be attracted to offers, and many economists have shown that, unfortunately, people are bad at understanding the costs that come later on. Instead, humans assign a disproportionate amount of importance to the immediate, such as low initial rates and offers.

Credit card companies, it would appear, are all too aware of this. And, wherever the responsibility ultimately lies, there is little doubt that the proportion of debt in Britain attributable to credit cards is continuing to increase alarmingly.

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You’re taking a different route around the house just to avoid looking at it. But it’s at the back of your mind every waking moment.

“I’ll get around to it when I have a moment”, you say. “I’m not sure it’s within our budget just now”, “I really made a mess of it last time”.

Well, the team at Pockit are here to tell you that this year’s Spring DIY isn’t going away. But don’t be discouraged.

Because whether it’s money, time or lack of inspiration, we’ve got just the thing.

Pockit are increasing our Cashback with Carpetright to give you a brilliant 9% back on purchases of £250 and over this March - just in time for the Easter bank holiday!

That means when you pay £300 for any carpet, like Sahara Berber Textured, we’ll give you £27 back on your purchase!

Visit one of the UK’s largest floor covering retailers and choose from a huge selection of carpets, laminate, rugs, beds and mattresses.

Click on Carpetright’s Inspiration and Advice page for the latest trends, ideas and how-to guides or come in and speak to an expert in-store.

We’re always looking for ways to make life cheaper and easier for our customers. And now there’s no excuse, so get down to your local Carpetright today!

But hurry, this great offer doesn’t last long!

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Pizza. We all love it and the food experts tell us it's been that way for centuries.

What an endorsement that so many of the most sophisticated and powerful of ancient civilisations - Egyptians, Greeks, Romans, to name but a few - thrived on their own form of flatbread with toppings.

And that's why we're thrilled to announce that customers can now earn a fantastic 8% cashback when they spend using their Pockit card at PizzaExpress.

Research also reveals that the pizza you choose can say a lot about you, so come in and Express yourself anytime by taking advantage of the great weekly special offers, available here.

PizzaExpress have over 400 restaurants in the UK so you’re never too far away.

Find your nearest restaurant now.

Pockit are always working hard to add the best high-street stores and restaurants to our list of Cashback Retailers – saving you money on your everyday spending!

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Pockit is always working on ways to keep improving your experience with us.

We are, therefore, pleased to announce that our Customer Services are moving to the UK.

This change will be effective from Thursday 18th February 2016.

The new customer service telephone number will be:

0203 322 9170

Lines open 9am - 6pm, 7 days a week. Calls will continue to be charged at your local rate.

And there’s more to come…

Download our new iPhone app. An Android app is on the way.

We also look forward to giving our customers account numbers and sort codes, for direct transfers in and out of Pockit accounts and those all-important direct debits and standing orders.

If you have any questions, see our most common FAQs or follow us on Facebook, Twitter or Google+ and Instagram.

We would love to hear from you.