Online transactions are growing rapidly in India. Youth of India are spending more time on internet and use to purchase products/services online. Nowadays many eCommerce sites are coming up. Most of utility service providers have already started to provide online bill payment facility. So you need to have internet banking facility, credit card/ debit card etc to do such transaction. ICICI Bank has introduced Pockets as digital wallet (eWallet) in February 2015. Anyone can open a ICICI Pockets eWallet. You do not need to be a ICICI bank account holder. With your Pockets you can do all of these online transaction, only you just have to top up or fund your eWallet.
What exactly it is?
It is a Visa powered digital wallet launched by ICICI bank. You do not need to be a ICICI bank customer. You can use your digital wallet to send money, recharge mobile and shop at retail store etc.
Now you do not want to carry your ATM card everywhere, so you can carry your physical wallet card which comes with your eWallet. You can just top the your wallet and carry during shopping. So your can limit your risk if you lost your card.
Related post: Paytm eWallet
Why will you open ICICI Pockets?
- Attractive deals, cashback offers, gift voucher (shoppers stop etc)
- Using your Pockets, you can transfer money not only to bank accounts, mobile number, email id, Whatsapp contacts, Google+ or Facebook ID but even tap and pay your friends. Such ease of payment facility will help people when they go out for dinning, shopping etc. Then anybody can pay the bills and others will pay him with their Pockets eWallet.
- Easy downloadable Pockets app and top up facility by using any debit card, internet banking or eWallet
- Get a physical card along with your Pockets
- If you want to get advanced features (iWish goals, higher transaction limit) of Pockets wallet and get interest on fund then ICICI bank is also offering Rs 5000 minimum balance Pockets savings account.
How will I open a ICICI Pockets eWallet?
- Download ICICI Pockets app
- Enter basic information for registration (Name, Email id, Phone number, DoB, gender etc)
- Verify your mobile number and create user id and password
- Fund your wallet using your debit card or internet banking facility
If you are an existing ICICI bank account holder, then
- Login to ICICI bank internet banking web portal by using your user id and password
- Go to my accounts
- Select Pockets
- Create your own eWallet
Even if you are existing ICICI bank account holder then also you can directly download Pockets app and login to Pockets
Is ICICI Pockets wallet secured?
Security is most important aspect for any online transaction. Many times we have heard about online scams etc. So people should know the security measures what bank has taken to safeguard your hard earned money. So security measures of Pockets are
- You have to login to your Pockets before doing any transaction
- Automatically logged out of the app after 10 minutes of inactivity
- OTP (One Time Password) will be sent to your mobile number for each transaction
- Use secure SSL encryption and all transactions happen on ICICI Bank servers
- Only one registration is allowed for each mobile number
- Multiple logins with the same User ID will not be allowed
- Single User Single Device
This eWallet can be useful for them who do not want to carry everywhere and do online transactions every month. It is very solutions to the young people who use to go for dinning, shopping with friends. Nowadays many banks and others are also offering eWallets.