Have you been looking for a way to put your finances under control? PocketGuard is a financial planning and budgeting platform that employs intelligent algorithms to help you organize your bills, keep tabs on your expenditure, stay in control of your money, and pay off your debts easily.
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Last Updated: Sep 23, 2023
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Founded in 2015 by Artem Seredyuk and Igor Kuznetsov and primarily based in California in the United States, PocketGuard’s goal is to enable Canadians and Americans to take control of their finances and increase their savings without hassle.
It runs on an app and a website that allows you to monitor information about your credit cards, bank accounts, and loans in one place, enabling you to track your balance and net worth with relative ease.
While PocketGuard offers a lot of things all packed up inside that small app, it is important to consider the pros and cons, to see if it is the best option for you in your journey to financial wellness.
Despite the numerous pros of using PocketGuard, the platform has a few drawbacks.
Despite some of its shortcomings, PocketGuard has a reputation among customers and users as a great budget design and control application.
The app is embedded with simple-to-use financial tools to help you monitor your expenditure and savings.
It is also optimized for several digital platforms Windows, Mac, iOS and Android platforms, making it accessible to many users.
PocketGuard offers some of its services free, and this may be enough for some. However, the most exciting features such as a debt pay-off plan and up to six months of transaction data are reserved for the paid premium plan. The features of the PocketGuard app include:
PocketGuard’s services are offered on two different levels. There is a free version of the app and there is a paid premium subscription plan that offers additional features.
While PocketGuard in itself is not an insurance company, some of its services are covered by insurance. How the insurance on PocketGuard’s services works is not entirely clear, as it seems they are reserved for certain features only.
Funds kept in PocketGuard Autosave, for instance, are saved in non-interest accounts that are insured by the Federal Deposit Insurance Corporation.
PocketGuard also secures your funds with bank-level security. The company employs the 256-bit SSL data encryption protocol to safeguard sensitive user data. In addition, you must have a PIN code and unique biometrics data to use the PocketGuard app.
PocketGuard has a ‘Give Plus, Get Plus’ referral program that can guarantee up to 12 months of free premium subscription. It is an avenue for old users and new users to use advanced services for free.
If you refer a friend who successfully signs up and links at least one financial account, you will get 1 free month of premium features. Promo codes are equally available on third-party websites.
PocketGuard’s customer support is not one of its greatest strengths. The company can only be contacted via emails, which many customers have repeatedly complained about.
Customer support is available on the website platform and via the app. There are no direct phone calls or live chat services but there is a FAQs section that contains answers to the most common questions asked by users.
PocketGuard has a website platform that is reportedly difficult to navigate. The PC and mobile apps seem to compensate for this deficiency, and they are available for Windows, Mac and mobile platforms such as iOS and Android.
The app is incorporated with useful tools to help you organize your budget and take control of your spending. There is also a FAQs section which answers many pertinent questions you might have.
PocketGuard also maintains an online blogging platform where regular market and financial information is disseminated to users. Expert tips, insightful articles and trending topics are posted to inform readers and help make the best possible financial decisions.
To get started with PocketGuard, you must sign up using either the web app or any of the digital applications.
On the website, click on the Start Now button to commence the account creation process. You will be prompted to connect your banks and other financial accounts that you deem fit.
You will also be asked for information such as your full name, email address, age and other relevant information. You will also be required to provide the following documents such as government-issued ID, utility bill or bank statement and other relevant documents.
In our world of many options, PocketGuard happens to not be the only online financial management service. Other viable alternatives include Mint, EveryDollar, Goodbudget, Personal Capital, YNAB.
Just like PocketGuard, YNAB is great for budgeting. It features a monthly budget planner and payment alerts.
The platform encourages zero-based budgeting. There is a 34-day free trial period. However, subscriptions on YNAB cost $11.99 monthly and $84 yearly.
In the same vein, Mint is best at tracking expenses but rivals PocketGuard with its budget planning tool. EveryDollar, on the other hand, runs on zero-based budgeting and like nearly all financial apps, has both free and paid plans. EveryDollar Plus costs $129.99 yearly.
Even though Personal Capital is majorly an investment platform, it equally has a budgeting feature. The platform also has free and paid versions and enables tracking of investments, in addition to budget and retirement planners.
PocketGuard, a personal finance management platform, was founded in 2015 as a budgeting solution for Canadians and Americans. It stands out because it provides an avenue to help users prevent overspending.
Several bank and financial accounts can be linked to a single PocketGuard account, with support for different operating systems. The ‘In My Pocket’ feature is an ingenious way to help you manage your finances more coherently.
Services offered by PocketGuard are protected with bank-level security and funds are secure with FDIC insurance policy.
Although there is only email support for customers, you can get referral bonuses and third-party promotion coupons on services.
PocketGuard is particularly great for people who can’t seem to gain mastery over their spending habits. The number of financial accounts you have matters little, as PocketGuard allows you to link several of them and manage them all in one app.
So, if you are looking for a simple user-friendly way to track your finances and manage your budget, PocketGuard may be the app for you.
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PocketGuard is a platform that provides a clever algorithm to help you organize your bills, expenditures, savings and debts. PocketGuard allows for simple management of finances and provide opportunities to grow your money.
You can connect your checking, credit and savings account. This allows you to see your spending habits, plan your savings and remind you for bills that are due.
PocketGuard has a feature called 'In My Pocket', which makes calculations based on your bills, income, financial goals and expenses.
The standard membership for PocketGuard is free. If you want to access features like personal debt plan, unlimited category budgets and other customer categories, you would have to upgrade to the Plus plan which has a membership fee.
PocketGuard's main priority is their customer's security. This means that PocketGuard has high quality security in place to ensure your data remains private.