Plum

Overview

Plum is a personal finance app for Android and iOS that automates saving and also offers spending tools and investments. It suits adults in supported European countries who want to save from a personal current account without moving money manually. The important caveats are its current-account linking restrictions and the lack of FSCS coverage for its e-money products.

Plum’s savings automation assesses linked-account transactions and balance, then transfers an estimated amount by direct debit every 4–5 working days. That can make regular saving less dependent on remembering to act, but it requires an eligible account in your own name. Business, savings and joint accounts cannot be used as the primary connected account.

The app is available to users aged 18 or older in the UK, Ireland, France, Spain, Portugal, Italy, Belgium, the Netherlands, Greece and Cyprus. In Spain, supported Open Banking connections include BBVA, Santander, CaixaBank, ING, N26, Revolut and Wise. Plum was founded in 2016 and is based in London, with offices in Athens and Nicosia; its founders’ saving challenge began in 2014. For other tools centered on setting money aside automatically, see Automated Savings Apps.

Key features

Automated saving and controls

Alongside its automatic transfers, Plum supports card roundups, scheduled transfers and custom savings rules. The EU comparison includes automatic, round-up, weekly, payday and no-spend rules on all four plans. Rainy-day rules start with Pro, so Basic includes several ways to save but not the full set of triggers. Withdrawals are instant, which is useful when plans change, though that does not alter the account-linking limits.

Pockets, spending and investments

Pockets organize savings, with goals available from Pro. Basic and Pro have a limited spend tracker; Boost and Premium add the full tracker and price alerts. The EU plan comparison lists Plum Interest money market funds, US stocks, cryptocurrencies and ETFs on every plan. That gives even free users access to a range of investment options, but the app’s investment menu should not be mistaken for a guarantee of returns.

Security and safeguarding

Plum says it uses read-only access to transactions and does not store or access bank login details. It also describes AES encryption for sensitive data and 256-bit TLS for browser-server communications. Plum says it is registered with the UK Information Commissioner’s Office and identifies its regulated payment and investment entities in company disclosures. For e-money products, funds are held in segregated accounts under safeguarding rules, but those products are not FSCS covered. That distinction matters to anyone choosing where to hold cash.

In Spain, support is available seven days a week through the app or by email at [email protected].

Pricing

Plum has a free plan and a 30-day trial; paid plans start at €3.99 monthly. The four plans differ meaningfully in pocket capacity and spending features, so the best fit depends on whether you need more than basic saving tools.

Basic — €0.00 per free: One pocket, a limited spend tracker and no pocket goals. It covers the core saving and investment options without a monthly fee, but is restrictive if you want multiple savings pots or goals.

Pro — €3.99 monthly: A Primary pocket plus three pockets, pocket goals and a limited spend tracker. This is the entry paid tier for users who want named goals and some separation between savings purposes; it still lacks the full spending tracker, price alerts and recurring investments.

Boost — €7.99 monthly: A Primary pocket plus 15 pockets, the full spend tracker, price alerts and recurring investments. It is the more suitable choice for users who will use those added investment and tracking tools, rather than simply needing more places to save.

Premium — €9.99 monthly: Includes Boost’s pocket capacity and features, plus priority support. The extra cost over Boost is only justified for users who place value on faster support access.

Basic remains the least costly way to use Plum’s core offering, while Pro adds goals but not the more complete spending tools. Boost is the point where the tracker and investment extras arrive; Premium adds support priority rather than more pockets or investment features.

Platforms

Plum runs on Android and iOS.

Who it's for

Plum is a good fit for an adult in one of its supported countries who has a personal current account in their own name and wants saving transfers to happen automatically. Basic is a reasonable starting point for someone who needs one pocket; Pro suits users who want goals and several pockets. Boost or Premium make more sense when the full tracker, price alerts, recurring investments or priority support are relevant.

It is a weaker fit for anyone who needs to connect a joint, business or savings account as their primary account, or who expects FSCS coverage for e-money holdings. Its Android and iOS availability also makes it less suitable for people who require a web app.

Pros and cons

Pros: Automated transfers use linked-account activity and balance, with several additional saving rules and instant withdrawals.

Pros: Investment options appear on all four plans, including the free tier.

Pros: Paid plans progressively add pocket goals, a full spending tracker, price alerts, recurring investments and priority support.

Cons: Only personal current accounts in the user’s own name can be primary connected accounts.

Cons: E-money products are not FSCS covered, despite funds being held in segregated safeguarded accounts.

Cons: The full spending tracker and price alerts require Boost or Premium, while Basic is capped at one pocket and has no pocket goals.

Alternatives

Guac is another free-plan option with Android, iOS and web support, so consider it if browser access matters. Betterment also has Android, iOS and web apps; its Digital plan has a $200 monthly recurring-deposit condition and $24,000 eligible-balance threshold, while Premium requires a $100,000 minimum eligible investment balance. Choose it if those investment thresholds and a web platform suit your needs better.

Chip is a UK-oriented alternative with a free Basic plan that offers access to savings accounts, recurring deposits and autosaves at 45p per save; it may suit users who prefer that model to Plum’s paid pocket and tracking upgrades. finbee has free plans and could be worth considering if its Japanese-language savings options are a better fit.

SavingsBox offers a free plan with personal savings boxes, limited AI coaching, bank and ACH payments, a wallet and manual contributions; it is a different option for those who want those tools rather than Plum’s automated transfer approach. Spave is a free alternative combining automatic saving with giving and savings goals. Piggo is free while in beta. PiggyVest has no transaction charges or monthly fees, though some products have processing fees and early withdrawals may incur penalties.

Verdict

Choose Plum if you want automated saving from an eligible personal current account, with investments and progressively richer spending and pocket tools in the same app. Its strongest reason to choose it is the combination of recurring saving rules and investment options, including on Basic. Look elsewhere if you need a joint or business account connection, web access, or FSCS cover for e-money products.