Exchange rate
At Pocket, you always get the most recent exchange rate at the time your payment is processed. There are no hidden fees in the exchange rate, which you can verify publicly (e.g. Kraken).
Service fee
A standard service fee of 1.5% is applied on your payment. It includes all costs incurred by Pocket. There is no minimum service fee.
Bitcoin network fee
A dynamic network fee is applied per bitcoin payout. It covers the cost of the bitcoin transaction. Because Pocket combines hundreds of payouts in a single bitcoin transaction, this fee is roughly 100 satoshis (~2 cents).
Lightning routing fee
A dynamic routing fee is applied for lightning payouts. It covers the cost for the lightning payment to be routed through the lightning network. This fee is usually a few satoshis (below a cent).
Lightning channel fee
An optional channel fee might be applied by Pocket or by your wallet app to create a receiving lightning channel. Pocket charges 10 000 (~$2) satoshis to cover the costs incurred. Your wallet app might charge different fees.
Bank withdrawal fee
There are no fees charged by Pocket when withdrawing to your bank account.
Payment currency
Pocket supports EUR and CHF as payment currencies. Make sure you choose the correct currency during setup to prevent any surprise bank fees.
Personal use
You confirm that you use Pocket for you personally, with your own money.
Execution time
Exchanges at Pocket are executed in minutes or even seconds after arrival. However, there can always be delays due to technical, regulatory or operational reasons.
Minimum data
We strive to process your transactions with the least amount of personal data possible. Nevertheless, it can happen that we require additional information from you. In this case, you can always choose to have the transaction returned.
Reversibility
Once processed, a transaction at Pocket cannot be reversed anymore. Although, we can opt to reverse a transaction subject to fees.