Plum

[Eileen101]

Does anyone have any experiences of using the plum app please and whether it's worth it?

Thank you

Yes - we love it! I barely see money leave the accounts, but every now and again look in it and it's really mounted up. Then I invested and did really well. Honestly it was a lifesaver when I needed to pay back a big tax payment - I just had the money waiting for me.

(Cheeky link - if you use my referral code we both get £60! friends.withplum.com/r/vdLRWe )

I've also used Plum for a while and have several accounts with them. I'm generally happy but am thinking of moving my accounts as there are now better rates out there.

One thing to be aware of though...it depends on the type of account, but some of their statements aren't detailed enough to satisfy AML regulations - for example if you want to use your savings towards a mortgage and need to prove source of funds. The ISA is fine because that statement shows the source account number for incoming transfers, but the easy access saver statement doesn't show that level of detail and our solicitors wouldn't accept it, which meant we wouldn't be able to use any of the money from that account!

Plum initially said because of the way their "pockets" work they couldn't provide a statement showing the funding source and implied that our solicitors were being too fussy. That is of course possible, but its impossible to argue with solicitors doing AML checks so I was stuck in the middle and neither side were budging. Plum did come through in the end after I raised a complaint, and they put together a manual statement as "an exception", but it was an incredibly stressful few days and we came close to missing completion. So just be warned....I'm certainly a lot more cautious about some of the fintech organisations now!