
Plum is an AI-powered money management app that helps you save, invest, and manage your money automatically.
The app analyses your spending and automatically sets aside money you won't miss. With features like round-ups, savings rules, and easy access savings accounts, Plum makes building your savings easy.
Plum is a savings app that everyone should be given at school - instead I invested my pocket money on fizzy cola bottles whilst my parents kindly covered the mounting dental bills.
You'll get £10 free cash via TopCashback when you sign up to Plum and connect your bank account. There is a small deposit required via direct debit (mine was just £5.15), but you can withdraw it straight back once your cashback arrives. No transactions required beyond that - just link your bank and the cashback is yours.
If you decide to try Plum after getting your £10 free cash, the automatic savings feature is genuinely useful. The AI analyses your spending and you can set up rules to save amounts without you noticing. Plus you can earn 3-4% on easy access savings. Check out the full review below for more details.
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Plum launched in 2016 as an AI-powered savings assistant and has since grown to over 2 million users across the UK and Europe. The app connects to your bank via Open Banking and uses clever algorithms to analyse your spending, automatically setting aside money you won't miss. They've expanded from a simple savings tool into a full money management platform with investments, interest-earning pockets, and even a debit card on premium plans.
Yes, Plum is regulated by the Financial Conduct Authority (FCA) as an authorised electronic money institution. Your savings in Interest Pockets and Cash ISAs are held with partner banks and are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person.
The Open Banking connection to your existing bank is read-only - Plum can see your transactions to analyse spending patterns, but cannot move money from your main bank without your explicit permission. All data is encrypted and Plum uses bank-level security measures.
Plum is ideal for anyone who struggles to save consistently. If you've tried and failed to build a savings habit, the automatic savings feature does the hard work for you - most users don't even notice the small amounts being set aside.
It's particularly good for younger savers and those new to investing, with low minimum investments and a friendly interface. The free Basic plan offers genuine value, though power users may want to upgrade for higher interest rates and additional features. If you prefer hands-on control over every penny, Plum's automated approach might feel too hands-off.
Plum analyses your income and spending patterns to automatically set aside small amounts you won't miss. It's like having a savings assistant who knows exactly when you can afford to save.
Every card transaction gets rounded up to the nearest pound, with the spare change moved to your savings. Spend £2.50 on a coffee, and 50p automatically goes into your pot.
Earn 3-4% AER on easy access savings pockets with no lock-in periods. Interest rates vary by plan, but even the free Basic tier gets access to interest-earning pockets.
Invest in over 3,000 stocks and curated funds starting from just £1. Great for beginners who want to dip their toes into investing without committing large amounts.
Your deposits in Easy Access Interest Pockets and Cash ISAs are protected by the Financial Services Compensation Scheme up to £85,000 - the same protection as traditional banks.
Plum has carved out a solid niche as the "set it and forget it" savings app. With over 2 million users and strong app store ratings (4.7 on iOS, 4.6 on Android), they've clearly hit on something that works. The AI-powered automatic savings genuinely helps people who struggle to save manually.
The free Basic plan is refreshingly generous - you get automatic savings, round-ups, and access to interest-earning pockets without paying a penny. The premium tiers (£3.99-£14.99/month) unlock higher interest rates and investment features, but aren't essential for most users. If you want an app that quietly builds your savings in the background without constant attention, Plum delivers.