Plum: Smart Saving & Investing 4+

Really good app BUT

This app is really good. I just wish that when money is transferred from my bank account to Plum that it didn’t take so many days to be deposited. Surely there could be a way around this by depositing using a debit card instead of a direct debit? It’s brilliant other than this issue

Developer Response ,

Hi there,

We love to hear you are enjoying Plum!

We are currently working on reducing our timeframes, stay tuned!

Smooth Interface, but Dealbreakingly Slow

While I can understand it can’t be easy to make banking and budget apps, and that there must be a lot of tape to get around, at the end of the day, an app needs to serve the purpose it claims it’ll be able to.

In favour of a smooth user interface, clarity about what the app is going to do at any given moment is sacrificed. I have tried countless times to place amounts into a ‘pocket’ (Plum’s saving account feature), only to find not only will it not deposit for several days, but that neither can I cancel it. If I had known this, I never would have done it - I don’t know about anyone else, but depositing money into a savings account is a pretty time sensitive thing for me. So this is a total deal breaker, and has been actually effectively hurtful over the past month. I frequently get messages from my bank warning me that an amount will be attempted to be taken by Plum soon, when I know well that that money is no longer there now. No way to stop it.

Wait until they improve this before downloading - smooth interface, but my experience of it so far, has been of a well polished tap with no running water. Consider an alternative if looking to save in a time sensitive manner.

Developer Response ,

Hey there,

Thank you for taking the time to provide us with your feedback, it is greatly appreciated!

The way we process deposits and the timeframe of their settlement ensure safe transactions and allow a small cancellation window, in case of unforeseen circumstances.

You will find more details on this below:

https://help.withplum.com/en/articles/2568736-how-long-does-it-take-for-a-transfer-to-reach-my-plum-account

https://help.withplum.com/en/articles/4768588-deposits-to-interest-pockets

We always aim to optimize and expedite transaction settlements without compromising your safety!

Thank you!

Great for saving pocket change, but still has my money floating in space too much

I love the idea behind it, I have 7 pockets that help me manage mentally what I want to do with my money. It stops me from transferring back and forth on impulse. Was enjoying the app a lot coming up for Christmas and I gave me a bit of peace of mind when trying to organise cost of living vs gift buying. I think overall it’s a great app for small-weekly savings.

My main issue is the amount of time my money spends floating in space between transfers. I currently have a big payment and I need access to my money but it has not even reached my plum account for about a week now? Other times it may only take a day. It’s so hard budgeting and planning ahead when I don’t know how long my money is going to be invisible for.

I know the app is not a scam, but I can’t help but feel super uneasy sometimes when a deposit leaves my account or app, knowing it could take a day or weeks to arrive.

On top of that, the app can be super confusing when trying to find the automatic transfer options to help slow down how much money leaves your account. Maybe it’s just me who finds it this way, but even now typing this the thought of finding it again feels exhausting.

I don’t want to run people away from this app, cause I have definitely found it for the most part useful. But I would have be lying if I said I didn’t still have reservations about it.