Pockit is a leading prepaid card provider in the UK, offering a convenient solution for consumers who are looking to stick to a budget, avoid overspending or unable to open a traditional bank account. The Pockit Prepaid MasterCard® card is unique when compared to other prepaid cards because cardholders are able to take advantage of additional benefits, such as in-store cashback when shopping on the high street, voucher codes and partner offers.

Pockit has two payment options for its prepaid card – pay as you go and pay monthly – each with slightly different fees and benefits. The pay as you go card has a one-off £5 application fee and is recommended for infrequent users or those who do not want to pay a monthly fee. However, there is a transaction fee of £0.45 per purchase and a £1.50 ATM withdrawal fee. Compared to other prepaid cards on the market the Pockit Prepaid Card fees are competitive. The card can be loaded for free using BACS or with a Debit Card, however other methods including Credit Cards, Paypoints or at the Post Office incur modest charges. Pay as you go cardholders are able to access over 5,000 voucher codes from the Pockit website, as well as partner offers from Aviva (Insurance), TalkTalk (Broadband) and First:Utility (Gas & Electricity).

Alternatively, customers can choose a Pay Monthly Pockit Card costing £3 per month with no application fee. This is in fact very competitively priced compared to other prepaid cards which can cost as high as £9.99 per month. Pay Monthly customers do not incur a charge per transaction and only pay a £1 ATM fee. Loading fees for Pay Monthly cardholders are cheaper than the fees for pay as you go cardholders. Pay monthly cardholders can make use of voucher codes and partner offers on the Pockit website like pay as you go cardholders but they are also able to take advantage of the exclusive cashback agreements Pockit has with twenty leading high street retailers. They can earn between 2% and 10% cashback on their purchases.

Overall, the Pockit Card is amongst the most competitive prepaid cards on the market through a combination of low fees and cardholder benefits.

By Jasmina