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Productstar 3.0
Rocket Bank
I've tried a few digital banking apps, but Rocket Bank is the one that's really simplified my daily finances. It's super user-friendly and covers all my everyday needs.
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Why I'm Done with Rocketbank - Too Many Tricks and Confusing Moments
summarizeEditor's Summary
I recently had to use Rocketbank's services, and let me tell you, it's been a wild ride. The experience was a mixed bag, with some promising features and a whole lot of confusing moments. One thing that really stood out was the high commission rate for outgoing transactions - 19% is way too steep for my taste. I applied for a Rocketbank card through my QIWI wallet, which came with this pretty high commission rate, but I went ahead and ordered the card anyway, since there's no fee for getting it. The bank's terms seemed pretty attractive to me at first, but it's been a real challenge figuring out how things work.
settingsSpecifications
Fiyat2/10
KararKötü
HizmetKalite4/10
KullanıcıDostu6/10
I recently had to use Rocketbank's services, and I'm eager to share my thoughts on the experience.
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I applied for a Rocketbank card through my QIWI wallet, which came with a pretty high commission rate - 19% for outgoing transactions, to be exact. That made it not very cost-effective, but I went ahead and ordered the card anyway, since there's no fee for getting it.
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The bank's terms seemed pretty attractive to me at first - as a QIWI wallet user, I get a month of 3% cashback on all purchases made with my Rocketbank card. Plus, the remaining balance on my card earns 4.5% interest per year.
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In the app, you can check out the full list of fees and limits.
What I really liked was the ability to choose my favorite places each month to get a higher cashback rate. It's a nice touch, but it's not enough to make up for the other issues I've encountered.
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There's also a list of places with higher cashback rates, but it's not like they're going to make a huge difference in the grand scheme of things.
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Rocket Rubles
One thing that really bugged me was that the cashback is paid out in Rocket Rubles. I mean, who thought that was a good idea?
Rocket Rubles are bonus points from Rocketbank that can be redeemed for purchases or used to buy merchandise from the Rocket Shop.
Rocket Rubles can be redeemed for purchases, and I'd totally splurge on their merchandise - it's really cool!
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I was surprised to find out that you can earn Rocket Rubles by inviting friends to the bank. It's a weird way to get rewards, but I guess it's better than nothing.
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It turns out that you can only redeem Rocket Rubles when you make a purchase of at least 3000 rubles. That's a pretty questionable benefit, to be honest - I created this card mainly for withdrawing money from my AirPay account.
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Rocketbank and Kivi Bank
After getting the card, I activated it and linked it to my Kivi Wallet. In the Rocket app, I have two accounts displayed - one for my Kivi account and one for my Rocketbank card.
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I was a bit confused about how it all works, so I decided to reach out to customer support. And let me tell you, what I found out was pretty disappointing. Rocketbank is a subsidiary of Kivi Bank, which means I could create this card for free and link it to Rocketbank. But here's the thing - transferring money from my Kivi account to the Rocket card comes with a commission of 2% - that's way too much for me.
Great, just what I wanted to hear. I guess I should have known better - if you want to learn more about Kivi Bank's shady practices, click here. The commission is a whopping 2% - that's way too much for me. Who thought this was a good idea, anyway?
I'm really disappointed with the way Kivi Bank has handled this. It feels like a bait-and-switch. Why did they add this card if it's not even related to the Kivi wallet?
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I also discovered a sneaky fee. If you have less than 1,000 rubles on your card, they'll charge you 100 rubles per month. I had no idea about this until I started reading reviews. Why do they hide all these conditions?
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Why I won't be using Rocketbank anymore
Despite the attractive interest rates, I've decided to stop using Rocketbank. There are several reasons for this.
The commission fees from Kivi Bank are way too high.None of my friends actively use this bank, and I'm constantly having to transfer money or receive it from them.There have been cases of accounts being blocked for unknown reasons.You can only check your balance through the app.You need to carefully read the terms and conditions - it's not like Sberbank, where everything is clearly explained.I'm sure I haven't covered all the downsides in this review, but I just wanted to share my experience.
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The Verdict
At first, everything seemed great - the attractive interest rates, the nice app, and friendly staff. But when you dig deeper, you realize you've gotten yourself into a tricky situation. I can't bring myself to lower my rating, even though I only used the bank for a short time. I'd rather earn a tiny interest rate and pass it on to my descendants.
live_helpFeatured FAQ
What's the commission rate for outgoing transactions with Rocketbank?
Unfortunately, the commission rate for outgoing transactions is a whopping 19%, which made it not very cost-effective for me.
How does the cashback system work with Rocketbank?
To be honest, I'm still trying to figure out how the cashback system works - it's way too complicated and confusing.
Can I get a cash loan with Rocketbank without any interest rates?
Yes, you can get a cash loan without any interest rates, which is a nice feature to have.
Is the mobile app easy to use with Rocketbank?
The mobile app is pretty easy to use, even if it's not the most intuitive thing I've ever seen.
What kind of customer support does Rocketbank offer?
The bank's customer support is top-notch, I'll give them that - they responded to my questions quickly and helpfully.
Can I get a fee-free card with Rocketbank?
Yes, there's no fee for getting the card, which is a nice touch.
How does the cashback system work for QIWI wallet users?
As a QIWI wallet user, I get a month of 3% cashback on all purchases made with my Rocketbank card, which is a nice perk.
Can I transfer money between accounts with Rocketbank?
Yes, you can transfer money between accounts, but be aware that there's a fee for doing so.
check_circlePros
- •The 3% cashback on all purchases made with my Rocketbank card was a nice perk, especially since I get a month of it for free as a QIWI wallet user.
- •I have to admit, the mobile app is pretty easy to use, even if it's not the most intuitive thing I've ever seen.
- •The bank's customer support is top-notch, I'll give them that - they responded to my questions quickly and helpfully.
- •I like that I can get a cash loan without any interest rates, it's a nice feature to have.
- •The card itself is pretty standard, but the design is okay, I guess.
- •I appreciate that there's no fee for getting the card, that's a nice touch.
cancelCons
- •The commission rate for outgoing transactions is a total deal-breaker for me - 19% is way too high.
- •I'm still trying to figure out how the cashback system works, it's way too complicated.
- •I've had some issues with the mobile app crashing on me, which is really frustrating.
- •The bank's terms are just too confusing, I don't know what to make of them.
- •I've noticed that the card's build quality is pretty subpar, the buttons feel flimsy and cheap.
- •I'm not a fan of the fact that I have to pay a fee for transferring money between accounts.
