Pocket types are separated into two distinct offerings - JikoStore and JikoPay - to better serve your organization’s liquidity management and operational payment needs. This guide will help you understand the purpose, features, and key differences between these pocket types.
1. Overview of Pocket Types
Pockets allow you to store and move your money using US Treasury Bills while earning yield. Depending on your business goals, you can choose between two main pocket types:
JikoStore Pockets (Storage Pockets)
JikoStore is engineered exclusively for the secure storage and growth of your corporate reserves:
Purpose: Ideal for buy-and-hold capital that requires the security of T-bills held in your name without the noise of daily transactional activity. With fund transfers to your external bank accounts only.
Flexibility: Customize your portfolio across a range of flexible maturities to match your yield targets.
JikoPay Pockets (Payment Pockets)
JikoPay serves as your liquid "operating account" bridging your T-bill holdings with 24/7 global movement of funds:
Third-party Settlement: Enables payments to third parties directly from yield-generating accounts.
Instant Settlement: In addition to domestic and international wires (Swift), access the JikoNet 24/7 Network for real-time, peer-to-peer transfers between platform participants.
Automated Liquidity: Just like JikoStore, funds in JikoNet remain invested in T-bills until the moment you initiate a payment, ensuring you never sacrifice yield for utility.
2. Key Differences at a Glance
The following table summarizes how the two pocket types compare across key features:
Choose the Pocket type that fits your needs. | JikoStore Pockets | JikoPay Pockets |
Earn yield on your funds | ✓ | ✓ |
Transfers funds from and to your external bank accounts via domestic and international wires | ✓ | ✓ |
Transfer funds between your own pockets | ✓ | ✓ |
Send third-party payments via domestic and international wires | - | ✓ |
Make 24/7 instant third-party payments through JikoNet | - | ✓ |
While new JikoStore pockets can be created via self-service, opening a JikoPay pocket requires coordinating with our Support. This is because JikoPay pockets facilitate third-party transactions, necessitating a brief series of monitoring questions to be completed prior to activation.
3. Pocket Types and External Account Ownership
External wire accounts are assigned an ownership classification during setup which determines which pocket types - JikoStore, JikoPay - can use each one. Account ownership can be :
“Our Organization”: accounts owned by your business entity.
“Third Party”: accounts belonging to other entities (vendors, clients, settlement counterparties…).
Extract of the External Account setup screen: we invite you to self-declare the ownership of your external accounts
Important: Depending on your configuration, and when choosing option “Our Organization”, you may be requested to upload a document that shows your ownership of the bank account:
Impact: When you select a JikoStore pocket for a wire transfer, field “To” below will only list the external accounts declared as owned by your organization:
Wire transfer entry screen
4. Frequently Asked Questions (FAQ)
What is the main operational difference between a JikoStore pocket and a JikoPay pocket?
A JikoStore pocket is limited to outgoing payments to bank accounts owned by your organization. While JikoPay pockets support both domestic and international wire transfers to third-party bank accounts. JikoPay pockets also provide access to JikoNet, Jiko’s 24/7 real-time USD settlement network.
As part of this structure, each external account is assigned an ownership classification: either ‘Our Organization’ or ‘Third Party’. JikoPay pockets can transact with both types of external accounts, while JikoStore pockets are restricted to external accounts classified as ‘Our Organization’.
Is it possible to use JikoStore and JikoPay pockets together?
Yes, each new pocket can be individually designated as either a JikoStore or a JikoPay pocket.
What happens to my existing pockets?
Your existing pockets have been automatically classified as JikoStore or JikoPay based on their enabled functionality. If your customer account has third-party wire capability enabled, all 4-week pockets and any pockets connected to the JikoNet instant settlement network have been designated as JikoPay pockets. All other pockets have been classified as JikoStore pockets.
How can I tell whether a pocket is JikoStore or JikoPay in the Jiko application?
On the Jiko home page, each pocket is labeled as either JikoStore or JikoPay beneath its name. This label is also visible in the pocket details view when you click an individual pocket.
Can I change an existing pocket from JikoStore to JikoPay (or vice versa)?
Yes! Please contact us and we’ll be happy to assist you. Knowing that pocket types can be adjusted under specific conditions:
A JikoPay pocket can be converted into a JikoStore pocket.
A JikoStore pocket may be converted to a JikoPay pocket when it holds T-Bills maturing in max 4 weeks. If you wish to convert a JikoStore pocket that holds T-Bills with a longer duration, you can still convert the pocket by adjusting the duration of your holdings first.
Can I create new pockets online?
Yes. You can create new JikoStore pockets directly through the Jiko UI or API. To open a JikoPay pocket, please contact our Support team, as each JikoPay pocket requires a short set of monitoring questions to be completed before it can be activated.
Why are JikoPay pockets limited to 4-week T-bills?
JikoPay pockets are designed specifically for operational cash movement and settlement, which often require frequent liquidity. Jiko limits these pockets to 4-week T-bills because they are the least volatile maturity, helping to ensure that the value remains highly stable and predictable when you need to access your cash.