Comparing Pockit vs Zempler: Which alternate bank account is better?

With so many alternate bank account solutions on the market, it can be a minefield to find the perfect one for your unique needs. If you’re searching Pockit vs Cashplus or Pockit vs Zempler, you’re in the right place!

In this article, we’ll take a deep dive into two popular solutions in the UK, Pockit and Zempler, previously known as Cashplus. 

We’ll weigh up the costs, features, and rewards you get with both, as well as discuss how you can find the right solution for your needs.

Pockit vs Zempler at a glance

Both Pockit and Zempler offer banking solutions through Mastercard®. However, the way they work is very different. Pockit works on the prepaid card model, offering a simple alternative to traditional banking that allows users to manage their money in the same way as normal banking apps do.

In short, prepaid cards work by loading money through cash deposits or salary payments before use. They’re quick to set up and don’t require credit checks to get started.

Zempler on the other hand is a registered bank and is more tailored towards business banking needs for self-employed or business-owning users.

Despite this, both offer similar functionality and allow you to effectively manage finances, make payments, set up direct debits, and transfer money. Both the Pockit app and Zempler app feature strong functionality to allow you to do all this on the go as well.

Where they mainly differ is the level of rewards and benefits available to users. Pockit offers benefits such as credit facilities, income advances, and much better cashback and utility savings. Zempler on the other hand is geared towards business users and while there is a cashback scheme with the premium plan, is more focused on features such as automated receipt capture, invoice generation, and tax tools.

Pockit vs Zempler: Accessibility

As a prepaid card, Pockit can be set up in as little as 3 minutes. You need proof of identity and address, but Pockit accepts other forms of ID that other providers don’t such as birth certificates.

As a traditional registered bank in England, Zempler is more stringent with the documentation required. You’ll need to provide your company details as well as ID and proof of address. 

Pockit vs Zempler: App features

Both Pockit and Zempler offer mobile apps with the functionality you need to manage finances, such as transferring and managing money, setting up direct debits, and making payments.

Pockit also features integration with Apple Pay and Google Pay for everyday convenience. Zempler on the other hand has features more tailored towards business banking, such as invoice generation and receipt capturing.

Pockit vs Zempler: Fees

Both Zempler and Pockit offer a couple of different account types. These have different monthly fees and feature different functions and rewards. Here’s a basic breakdown:

Pockit:

• Everyday: £2.49 per month. Cash top-ups cost £1.99, ATM withdrawals are £1.99, and bank transfers cost £1.29.
• Extra: £6.99 per month. Includes top-level features and rewards such as cashback and discounts, without credit-building facilities.
• Fast Track to Credit: £9.99 per month. Offers automatic credit-building, top-level features and rewards, plus 2.5% cashback on all spending.

Zempler:

• Business Go: Free. Designed for basic business banking needs.
• Business Extra: £9 per month. Offers additional features aimed at business banking such as 0.5% cashback and in-app support chats.

Pockit vs Zempler: Credit facilities

Pockit provides credit options as part of its premium version. With Pockit’s Fast Track to Credit, you can build your credit rating in as little as 2-3 months. Missing these monthly payments doesn't hurt your credit score but simply downgrades you to a basic prepaid card. 

You can also get loans of up to £500 after three months on the Fast Track To Credit plan, as well as salary advances from day one.

Zempler does not offer personal credit options but does have an optional business credit-building feature with the Business Extra level of account.

This works similarly to Pockit by reporting your monthly payments to credit reference agencies. However, it should be noted, that this is a 12-month commitment, and Zempler does warn that missing a payment can damage your credit score.

Pockit vs Zempler: Savings account

Pockit is about to implement a dedicated savings account feature within the next six months. This will offer customers more ways to save and earn interest on their deposits.

Zempler doesn’t currently offer any true savings account features but does have a basic “pots” feature to separate money from finances in the main account.

Pockit vs Zempler: Insurance/Purchase protection

Pockit Extra and Pockit Fast Track to Credit come included with full purchase protection that covers eligible purchases of up to £1000 against accidental damage and theft. This also includes protection like ticket cancellation so you can get your money back for things like postponed or cancelled gigs and sporting events. Pockit also has 90-day refunds and extended warranty options.

Zempler doesn’t currently list any details on purchase protection on their website.

Pockit vs Zempler: Rewards

Pockit offers extensive rewards including 15% cashback with major high street retailers and main supermarket chains like Argos, Primark, Footlocker, and Sainsbury’s. You can also save up to £150 on utilities such as mobile phone bills, broadband, and TV packages.

Zempler offers 0.5% cash back on card spending with their top-level premium account called “Business Extra.”

Pockit vs Zempler: Customer service

Both solutions offer multiple channels of customer support. Pockit provides customer support through online chat, responsible email support, and a dedicated help centre. You can access this centre both on your computer and through the mobile app.

Zempler also offers comprehensive customer support features, including a phone line and in-app messaging for “Business Extra” users.

How secure are Pockit and Zempler?

Both Pockit and Zempler leverage technology like 3-D Secure for extra protection during online transactions, as well as Two-Factor Authentication (2FA) to secure your account logins. 

Both platforms also enforce strong password protection policies and utilise things like security questions for account recovery. Similarly, both also employ encryption to safeguard your data, and feature 24/7 fraud detection systems as well as the ability to instantly freeze lost or stolen cards through their apps.

How to choose the right alternative bank account

You should choose the alternative bank account that offers the fee structure and features that work best for your unique circumstances and needs. Zempler reviews highlight that Zempler is a viable solution for business power users looking to manage things like tax through the app.

For regular users, Pockit is a great option. It’s also the best option if you’re looking to build credit in a low-risk way while enjoying more extensive rewards and benefits like cashback, salary advances, and savings.

Check out Pockit today and sign up in as little as 3 minutes!

FAQs

Is Zempler a real bank? 

Yes, Zempler is a real bank and offers business banking solutions through Mastercard®.

Is Pockit a good bank account?

Pockit is a fantastic alternative to old-fashioned banks and is much more accessible as you don’t need to pass credit checks to open an account. Pockit also offers great benefits like credit building, salary advances, and cashback rewards.

Is my money safe with Pockit & Zempler?

Yes, both Pockit and Zempler integrate robust security features into their solutions. These include 3-D Secure and Two-Factor Authentication to ensure your money is safe.

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