A Pocket is a sub-account within your MAJORITY account. Pockets can be used to set aside money for a financial goal. Add money to your Pocket by transferring funds from your primary account. You can manually transfer funds between your Pocket and primary account as many times as you’d like. Transfers are instant. Because there is no debit card connected to the Pocket, you cannot make purchases with your Pocket, nor will funds automatically be transferred back to your primary account if you overdraft. Pockets do not come with their own account numbers and do not accrue interest.

How do I open a Pocket?

Opening a Pocket is easy and free. Simply navigate to your Wallet and select Open a Pocket under Other accounts. Next, give your Pocket a name. You can name your Pocket whatever you’d like, but we recommend naming it after a financial goal that’s meaningful to you, like “Dream vacation,” “Trip home,” or “New car.” Confirm the name you’ve chosen, and that’s it. Your new Pocket is opened instantly, no extra documentation or fees.

Can I open multiple Pockets?

No. Currently, you can only open one Pocket.

Can I close my Pocket?

You cannot close a Pocket. However, you can remove all funds in your Pocket by transferring them to your primary account.

Can I rename my Pocket?

Yes. You can rename your Pocket as often as you’d like. You can do so in the Pocket account settings.

Can I make purchases, pay bills, or send money with my Pocket?

Your Pocket is a means to set aside money only. You will not receive an additional debit card or account number. Therefore, your Pocket money cannot be accessed via card transactions and cannot be spent or sent unless you transfer the money into your primary account.

Can I pay my membership fee with the funds in my Pocket?

No. Your Pocket cannot be used for purchases, including your membership fee. You can transfer money instantly from your Pocket to your primary account to pay for your membership.