Plum is a smart money management app designed to automatically set aside money without you even thinking about it. It was founded in 2016, and started as a Facebook Messenger chatbot. Plum then launched the app (available on Android and iOS) which is designed to make managing your money easy, but it’s also effective for those who struggle to put that bit extra away. And the basic version is free. It also has savings accounts that you can compare.
Plum also gives you the option to invest some, or all, of your deposited money. You can choose between a range of investment funds, kept in a stocks and shares ISA, a general investment account or a money market investment fund. You should consider carefully which of these portfolios (you can choose multiple) is best for you, depending on your expertise and risk appetite. You can start investing with just £1.
Through the Plum app, you can choose how much to invest in a range of investment funds, or automatically allocate a set percentage of your auto-deposits to go towards those funds. Examples of the investments funds available include “Tech Giants” (which includes shares of tech leaders such as Apple, Facebook and Google), or “Slow & Steady” (a mix of bonds and stocks).
Here are the portfolios available:
| Portfolio name | Types of investment | Risk |
|---|---|---|
| Tech Giants | Invest in technology shares | 6/7 |
| Clean and Green | Invest in companies selected for their social responsibility | 5/7 |
| Rising Stars | Invest in the growth of new giants in Asia and Africa | 6/7 |
| The Medic | Invest in shares of healthcare, pharmaceuticals and biotechnology companies | 6/7 |
| Balanced Ethical | A mix of assets based on their environmental, social and governance (ESG) criteria | 5/7 |
| Growth ethical | Invest in global companies selected for their environmental, social and governance (ESG) track record | 5/7 |
| American Dream | Invest in US company shares that tracks the performance of the S&P total market index | 5/7 |
| Best of British | Invest in the 100 largest public companies in the UK | 5/7 |
| European Essentials | Invest in large and mid-sized companies in developed markets in Europe. | 5/7 |
| Slow and Steady | 20% shares and 80% bonds. This fund expects to get moderate returns and is better protected from losses. | 3/7 |
| Balanced Bundle | 60% shares and 40% bonds. This fund has a balanced combination of shares and bonds. | 4/7 |
| Growth Stack | 80% shares and 20% bonds. This fund has high potential returns but is higher risk. | 5/7 |
In terms of withdrawals, you can withdraw your investments as often as you wish, although it can take up to 5 days for the money to return to your account.
If you do decide to invest, keep in mind that your capital is at risk and that you could get back less than you invested.
You can choose between 4 accounts:
Plum also offers a cash ISA and a lifetime ISA.
This account is a standard investment account. There aren’t any tax benefits, so people usually choose this one if they’ve used their ISA allowance already.
You can invest in the same portfolios as with the other accounts. You may be liable to pay tax on profits over £3,000 in each tax year.
Plum also offers a SIPP, which lets you save up for your retirement. It’s designed to be automated and flexible. You can pay into your SIPP the same way as with its other products, and you can move existing pensions into your Plum SIPP.
The main benefit is that you can see all of your accounts in one place and invest in its wide range of funds. SIPP investors can choose from 3 funds designed for those investing for retirement.
Pensions can’t be cashed out until you turn 55, but you do get tax relief from the government, which Plum applies for on your behalf.
With Plum’s ISA you can use your annual ISA allowance, which means that you can invest up to this amount each tax year without paying any tax on your profits. The allowance for the 2026/2027 tax year is £20,000.
Launched in 2023, this is a low-risk money market investment fund that pays interest on your money and lets you withdraw cash by the next working day. Your money is invested in high-quality assets that generate interest.
It’s free to start setting aside money with Plum. The free Plum Basic plan includes the app download and registration, as well as unlimited deposits and withdrawals, and the automatic deposit feature and bill analysis.
But there are fees for investing your money with Plum:
Plum rebooted its choice of plans in summer 2026. As well as Plum Basic (free), there are 3 paid-for plans. Plum Plus costs £3.99 a month, Plum Boost £7.99 a month and Plum Max £14.99 a month. As well as the investment features you get with these paid-for plans, you can unlock additional functionalities, such as spending insights and more customisable savings pockets. Plum Max offers access to even more benefits, such as travel insurance and cinema tickets, as we explain below.
This is the top Plum account tier, which costs £14.99 per month.
With Plum Max, you’ll get all the functionality available with the other plans, as well as the following features:
Whichever plan you go for with Plum, you can open an Easy Access Savings Account or an Easy Access Savings Pocket to store some of your cash. However, Basic customers will receive a lower interest rate on that cash compared to paid-for plan customers, with Max customers receiving the top rate. Basic customers can open one Easy Access Savings Pocket, while everyone else can have 16.
Money in Plum savings accounts is held with Lloyds Bank, while money set aside in Plum’s Pockets will be held on trust with the Investec banking group, which means these funds will be protected by the Financial Services Compensation Scheme.
We currently don't have that product, but here are others to consider:
How we picked theseThe “Naughty Rule” is a feature which automatically sets money aside every time you buy something from a retailer you consider a “guilty pleasure”. It’s only available with the paid plans.
When you purchase something “naughty” from one of the specified retailers, Plum will automatically put aside a set amount into your savings. You can set the amount of money to be set aside, ranging from £1 (“Mildy Mischievous”) to £10 (“Very Villanous”).
Once the “Naughty Rule” has been fully enabled, Plum will make one extra saving per day when you spend at one of your chosen retailers.
Apart from money deposited in Pockets and savings accounts, funds held in a general Plum account are not specifically covered by the Financial Services Compensation Scheme (which protects deposits of up to £120,000), as the company is not a licensed bank. But Plum is authorised and regulated by the FCA as an e-wallet money agent of Modulr, which allows it to provide users with an e-wallet. Customer funds are held in a pooled account at a UK bank chosen by Modulr and are protected by safeguarding rules.
Plum also considers its users’ safety and security a top priority – and here are some of the ways Plum works to keep you safe:
Plum was heavily funded through its startup phase by crowdfunding campaigns. However, now it’s established it looks to create its own revenue through two main revenue streams:
Pros
Cons
97% of customers we surveyed in 2026 would recommend Plum to a friend.
It is highly praised for its innovative, fun, and easy-to-use app that makes saving effortless. Customers love the automatic saving features that quietly set aside spare change without them having to think about it.
Alongside its excellent free tools for separating and managing money, users highlight the competitive interest rates, reliable customer service, and straightforward access to their funds.
AI-generated summary from the text of customer reviews on Finder.
Our Finder Awards celebrate brands that truly stand out in their field. Plum was named our 2024 Savings People's Choice Award winner!
| Email support | |
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| Branch support |
Saving is not an especially fun task, and while we all want to be doing it, doing the actual maths and remembering to transfer the money every week or every month requires a lot of commitment. So why not have it done automatically by Plum?
It’s a very smart concept, although there are a few drawbacks to consider. The main one is that Plum’s general account does not pay any interest. So your money won’t be growing unless you open an Easy Access Pocket, savings account, a cash ISA, or you decide to invest your funds, which of course entails a whole different set of risks and issues. Get started by downloading the app.
Overall, Plum can be a smart and fun way to put money aside without doing much budgeting, or even having to go into your current account to manually make a transfer. Plum also offers easy access savings accounts, and has a good range of investing options, some of which are suitable for beginners.
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.
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