Anyone use plum? Or another savings app?

[Endofrelationship]

I recently heard about plum. It's an app which helps you save cash based on your spending habits but without affecting your lifestyle. It notifies you when it's moving money and in to savings and obviously you can do move those savings back anytime you like- it's your own bank accounts as all times.

There are other similar apps available and was thinking of trying one in the hope of saving s little more each month (already save a lump sum each month but now I'm on mat leave I won't be able to).

Would anyone recommend it, or advise to stay away?

Can't advise on plum, but consider moving your main account to Halifax. I did that and got paid approx £100 for moving, then £2 a month for staying and have clicked a link in my online banking which now rounds up all my spending and saves the change to my linked savings account. So if i buy sonething for £2.34 it saves 66p into my savings account.
That may help you?

I use plum. Really easy and handy to have. Takes random amounts it seems, although probably based on how much you have left. Eg. End of Jan and it's about to take £1.67 from my account! Goes up to maybe £12.

I managed to save a few hundred without really noticing, which came in handy before Christmas when I was paid wrong!

I also use squirrel, but that costs and you could sort that set up with a separate account and direct debits.

@Seventiescarpetswirls-

The Halifax account sounds really interesting. I'm looking to save more and be more aware of non essential spending- do you know the name of the account so I can look it up? Thanks!

Started using Plum a few weeks ago. Saved just over £50 without noticing. I'm rubbish at saving but this is so easy.

Does plum cost?

Plum is free, but the frustrating thing is how long it takes to transfer the money across. If I want to save I'd rather the money go out instantly, rather than in 5 days or so. Just makes it that little bit hard to keep an eye on your balance.

That said, I'm quite happy that transfers back take a similar timescale.

I use chip which is similar. It’s saved £400 for me in 4 months

have clicked a link in my online banking which now rounds up all my spending and saves the change to my linked savings account

How do I set up that option?

I use CHIP, it's brilliant - I have saved over £1,000 in about four months.

They are updating it soon as well so saves are automatic (currently takes about 2-3 days to hit the CHIP account at the moment.

Plus if you add people you earn more interest, I am currently earning 4% interest on my savings. My referral code is 9TI9J3, if you use that when signing up you get 1% interest (otherwise you start on 0%)

I'm using plum. Hadn't heard of chip but will use the code if I sign up to that. I've also signed up to Moneybox and my round ups are going into a stocks and shares ISA with them.

Awesome, so sounds good then. More ght go for it.

After posting, I realised it might look like I was advertising it, want to make sure clear I am not and I am in no way associated with it!

I'll look into chip too.

Regarding the questions for Halifax:
It's called a 'reward account'. I've just gone in their homepage and the first ad is that one. Its £135 bonus for signing up and using.

The savings account gets opened automatically (i believe) when you open account then i recently discovered the savings rounding up thing when i looked in my account as i saw an option to 'save the change'. If you log into your account it will definately be easy to find in the menu options

If ppl arent keen on Halifax then other banks do sign up bonuses...first direct is one

I use Chip. Such a good way to save!

I use Chip too, and find it really good. It uses an algorithm to save more or less depending on how much is in your account. When you withdraw money back to your account it’s really quick to be paid back too.

Sorry to sound naive but who is plum... How does it access your accounts! Aren't you scared people will take it your money?

Sorry to sound naive but who is plum... How does it access your accounts! Aren't you scared people will take it your money?

That’s what would worry me too!

I've recently opened a starling account which I really like - you can set it up to round up your spending and put it into a specific 'goal' and you can have different pots within the account for different savings, plus you can customise them with pictures! I'm using it for short term type savings as it doesn't pay interest. Can recommend it though.

I can refer people but I've no idea what either of us get.

Sorry to sound naive but who is plum... How does it access your accounts! Aren't you scared people will take it your money?

There is a theoretical risk, but it's smaller than say, your card being cloned or a bank employee selling your data.