What is Income Advance and how does it work?

Published on: 2024-10-25 10:58:06 +0100

When you have a sudden expense, but payday is not around the corner, Pockit is here to help!

You can get an instant advance of up to £100 straight into your Pockit account without a hard credit check. A soft credit check may be conducted which does not affect your credit score.

Important note: Income Advance is powered by SteadyPay LTD, this is subject to eligibility and affordability checks run by SteadyPay.

Pockit cannot guarantee you will be accepted for Income Advance payments.

Here's how it works: 

1. Open a Pockit account. 

2. Deposit £20 and spend £15 on your new Pockit card.

This will then begin your first eligibility check with SteadyPay directly, if you are eligible for Income Advance after this you will see a banner message appear in your online account, if you do not see this banner message you are not currently eligible for Income Advance.

If you do not see the banner in your online account please follow the steps below you will be checked again 3 months after your first check 

1. Receive salary or benefit. Receive your salary or benefit payments to your Pockit account for 3 months to unlock (min. £300 a month).

2. Use your Pockit card regularly

3. Unlock your £50 advance.

4. Get your £50 cash advance, anytime after 3 months of income payments. We’ll notify you when you are eligible.

5. Once you repaid your £50 cash advance twice, you may qualify for a £100 cash advance.

Income Advance is provided by our partner SteadyPay Ltd and is not in any way is connected to your employer.