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!

Ben Sanders- Chief Operating Officer-