Pockit prepaid cash card

GringoGoesToVagas

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

GeoffTF

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

They will have to give you an account number and sort code (possibly with a reference too). They will not be allowed to open an account for you without you giving them full ID. It is a bank account apart from the cost and the lack of compensation if they go bust.

Emmia

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

Alas, it is clear that you definitely do need ID to sign up

https://help.pockit.com/support/solutions/articles/151000014788-what-does-pockit-accept-as-a-proof-of-id-

"What does Pockit accept as a proof of ID?

Published on: 2022-10-18 10:44:00 +0100

To verify you are who you say you are we need to see one of the documents from the list below:

Passport

This must be in date and valid.

Full Driving Licence

This must be a full, in date, and valid license issued in the UK, EU, EEA or Switzerland. The address has to match the one on your Pockit account. (Please note we do not accept provisional licenses at this time)

National Identity Card

For Nationals of EEA and Switzerland: this must be in date and valid.

Identity card issued by the Electoral Office of Northern Ireland

This must be in date and valid.

Please note if you're from outside the European Union you need to send us document that states your right to be in the UK (residence permit or document confirming your visa status)."

GringoGoesToVagas

GeoffTF said:

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

They will have to give you an account number and sort code (possibly with a reference too). They will not be allowed to open an account for you without you giving them full ID. It is a bank account apart from the cost and the lack of compensation if they go bust.

Do you think this is a completlly seperate application to the cash card then?

Emmia

GringoGoesToVagas said:

GeoffTF said:

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

They will have to give you an account number and sort code (possibly with a reference too). They will not be allowed to open an account for you without you giving them full ID. It is a bank account apart from the cost and the lack of compensation if they go bust.

Do you think this is a completlly seperate application to the cash card then?

They're linked, and you'll need ID as they have KYC requirements

GringoGoesToVagas

Emmia said:

GringoGoesToVagas said:

GeoffTF said:

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

They will have to give you an account number and sort code (possibly with a reference too). They will not be allowed to open an account for you without you giving them full ID. It is a bank account apart from the cost and the lack of compensation if they go bust.

Do you think this is a completlly seperate application to the cash card then?

They're linked, and you'll need ID as they have KYC requirements

They say that there is no ID checks what so ever for the cash card!

Emmia

GringoGoesToVagas said:

Emmia said:

GringoGoesToVagas said:

GeoffTF said:

GringoGoesToVagas said:

GeoffTF said:

Pockit provides most of the services of a bank account. It is regulated by the Financial Conduct Authority (and it will have to keep records of all your transactions). It is expensive, and does not have FSCS protection for your money. It is an account for people who cannot get a proper bank account.

I did not understand any of that stuff you quoted. But just to clarify; they give you a bank account number and sort code and you do not require ID to get one

They will have to give you an account number and sort code (possibly with a reference too). They will not be allowed to open an account for you without you giving them full ID. It is a bank account apart from the cost and the lack of compensation if they go bust.

Do you think this is a completlly seperate application to the cash card then?

They're linked, and you'll need ID as they have KYC requirements

They say that there is no ID checks what so ever for the cash card!

But there will be for the account the card is linked to.

GeoffTF

The Anti Money Laundering regulations have been greatly tightened up in recent years. The are lots of articles on the web about prepaid debit cards. On examination, it is clear that they are not really prepaid debit cards.

I have a Tesco Clubcard Pay+ account that MSE described as a prepaid card, for example. In reality, it is bank account that allows funding only by bank transfers, and payments only by a Visa debit card or Faster Payments. The debit card doubles as Tesco Clubcard. Full ID is required to open an account.

There are e-money accounts that offer debit cards and say that they do not require ID. That is inaccurate. What they mean is that you do not need a passport or a driving licence, but you still have to provide ID. For example see:

https://suitsmecard.com/prepaid-card-with-no-id

It says no ID, but has a long list of the ID that is actually required on the same page. Criminals have ways around the rules, but anyone who tries them is likely to find themselves in serious trouble.

The OP has told us that he cannot understand what is written on the Pockit home page. He seems to believe a conspiracy theory that makes him fear providing ID to open a bank account. I do not expect that he understands that Building Societies and Credit Unions also require ID.

GringoGoesToVagas

GeoffTF said:

The Anti Money Laundering regulations have been greatly tightened up in recent years. The are lots of articles on the web about prepaid debit cards. On examination, it is clear that they are not really prepaid debit cards.

You dont say do you! when they hardly would be making life any freer for us now would they

GeoffTF said:

I have a Tesco Clubcard Pay+ account that MSE described as a prepaid card, for example. In reality, it is bank account that allows funding only by bank transfers, and payments only by a Visa debit card or Faster Payments. The debit card doubles as Tesco Clubcard. Full ID is required to open an account.

Dose this club card of your have your name on it?

GeoffTF said:

It says no ID, but has a long list of the ID that is actually required on the same page. Criminals have ways around the rules, but anyone who tries them is likely to find themselves in serious trouble..

ooh please tell more? what criminals have done what hear with no ID. I mean what was there crime?

GeoffTF said:

The OP has told us that he cannot understand what is written on the Pockit home page. He seems to believe a conspiracy theory that makes him fear providing ID to open a bank account. I do not expect that he understands that Building Societies and Credit Unions also require ID.

I have not provided any theories to my questions hear of debanking and having no bank account or having a bank account with no name to it in this capacity yet. Unless you would like me to that it?

Emmia

GringoGoesToVagas said:

GeoffTF said:

The Anti Money Laundering regulations have been greatly tightened up in recent years. The are lots of articles on the web about prepaid debit cards. On examination, it is clear that they are not really prepaid debit cards.

You dont say do you! when they hardly would be making life any freer for us now would they

GeoffTF said:

I have a Tesco Clubcard Pay+ account that MSE described as a prepaid card, for example. In reality, it is bank account that allows funding only by bank transfers, and payments only by a Visa debit card or Faster Payments. The debit card doubles as Tesco Clubcard. Full ID is required to open an account.

Dose this club card of your have your name on it?

GeoffTF said:

It says no ID, but has a long list of the ID that is actually required on the same page. Criminals have ways around the rules, but anyone who tries them is likely to find themselves in serious trouble..

ooh please tell more? what criminals have done what hear with no ID. I mean what was there crime?

GeoffTF said:

The OP has told us that he cannot understand what is written on the Pockit home page. He seems to believe a conspiracy theory that makes him fear providing ID to open a bank account. I do not expect that he understands that Building Societies and Credit Unions also require ID.

I have not provided any theories to my questions hear of debanking and having no bank account or having a bank account with no name to it in this capacity yet. Unless you would like me to that it?

No one is going to tell you what crims do. As it stands if you want to use money without attaching your identity to your spending, then it's a cash only.