Pocket

Pocket (formerly Abeg) is Nigeria's CBN-licensed social commerce payment app offering free transfers, a multi-wallet system, and an integrated marketplace. NDIC insurance and escrow protection provide secure money management for individuals and businesses, though stability issues affect user experience.

Budgeting & Savings Nigeria ★ 3.8/5 Security: B+
★ 3.8 Rating
1M+ Downloads
0% - 1.5% Pricing
B+ Security

Overview

PocketApp is the fastest way to send and receive money for free, operating as a comprehensive social commerce and payment platform in Nigeria. PocketApp is powered by Abeg Technologies Ltd, which is licensed by the CBN as a Mobile Money Operator, and the NDIC insures the funds. Originally launched as “Abeg” in 2020, the app evolved into a full social commerce platform that combines payments, shopping, and selling features. It’s designed for individuals, businesses, and groups who want to manage money transactions with a social twist, making it ideal for Nigerian users seeking a modern alternative to traditional banking apps.

Key Features

Free Money Transfers

Send money to any Pocket ID instantly

Security Features

Regulatory Compliance: CBN is licensed as a Mobile Money Operator

Fund Protection: NDIC insurance coverage through VFD Microfinance Bank

Data Encryption: BVN and personal data are encrypted and secure

Transaction Security: PIN protection for account access

Escrow System: Built-in escrow for marketplace transactions

KYC Compliance: Address verification using location data

Two-Factor Authentication: SMS-based verification for sensitive operations

Pricing & Fees

ServiceFeeDetails
Pocket-to-Pocket TransferFree Instant transfers between Pocket users
Bank Transfer₦25 - ₦50 Varies by amount and destination bank
Bill PaymentsFree - 1% Depends on the service provider
Card Maintenance₦1,000/year Physical debit card annual fee
Business Account Free No setup or maintenance chargesFree No setup or maintenance charges
Marketplace Commission0% No commission on sales transactions
ATM Withdrawal₦35 Per withdrawal from other banks

Getting Started

1. Download & Install
Download the PocketApp from the Google Play Store or the Apple App Store and install it on your device.


2. Account Registration
Sign up using your phone number, verify with OTP, and provide basic personal information.


3. Identity Verification
Complete KYC by uploading a valid ID, providing your BVN, and verifying your address location.
4. Fund Your Account
Add money via bank transfer, debit card, or receive from other Pocket users.


5. Choose Wallet Type
Set up Personal, Business, or Group pocket based on your intended usage.
6. Request Debit Card
Apply for a physical or virtual Pocket debit card to enable spending and withdrawals.

Final Verdict

Pocket app by Piggyvest shows it is safe and offers innovative social commerce features with regulatory backing. While it excels in free transfers and business tools, stability issues and limited geographical reach affect user experience. Best suited for Nigerian users seeking integrated payment and commerce solutions