Plum review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Plum suits students and savers who want a digital-only easy-access pot that pays a variable rate of 3.05% to 3.65%. Same day access, no lock-in and no notice period keep the day to day side of saving simple, with the caveat that a variable rate can move with the market.
Key facts
- Best for
- Students who want a free easy-access savings habit with no branch to visit.
- Headline rate
- 3.05% to 3.65%↗
- Rate type
- Variable↗
- Minimum deposit
- £1↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Same day access, no lock-in, no notice period↗
- Monthly fee
- £0↗
- Account kind
- Easy access↗
- Legal entity
- Plum Fintech Limited↗
- Headquarters
- United Kingdom↗
- Founded
- 2016↗
- Support channels
- Email, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- withplum.com
Everyday accounts
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- App Store
- Elsewhere
- TrustpilotLinkedInXyoutube.com
Pros and cons
Pros
- No monthly charge, since the monthly fee is £0 and the transfer fee is GBP 0 for each transfer out
- A variable easy-access rate of 3.05% to 3.65% that tracks the market, on a minimum deposit of £1 aimed at students
- Deposits are covered by FSCS up to GBP 85,000 protection, and the firm is regulated by the Financial Conduct Authority in the UK
- Same day access with no lock-in and no notice period, so money moves as soon as it is needed
Cons
- Support runs on email and help centre only, so most account questions are handled in writing rather than down a phone line
- A variable rate means the 3.05% to 3.65% figure can move with the market rather than stay locked in place
- A branch or a cash counter is not among its digital only list, since the service is digital-only throughout
Who it suits
- Students starting a first savings pot and keeping it topped up each month without a charge for holding the account
- Savers who want easy access, a variable rate of 3.05% to 3.65% and no notice period before money comes back out
- Anyone happy to run everything from the app and keep the monthly fee at £0 while saving each month
Who should look elsewhere
- AXI Card Tarjeta y Credito, whose headline rate of 21.59% comes with a card and credit product rather than a savings pot
- Plazo ES, whose headline rate of 24.19% belongs to a credit card, so it does not match an easy-access deposit account
- PayPal Colombia, whose headline rate of 3.3% sits in a wallet savings product rather than a UK easy-access account
Rates and card terms
The easy-access account pays a variable rate of 3.05% to 3.65%, and the rate type is variable, so the figure moves with the market rather than sitting at a fixed level. Money goes in and comes out on the same day, with no lock-in and no notice period to serve, which suits a pot that may be needed at short notice rather than one left untouched for a set term.
Fees and FX
The minimum deposit is £1 and the monthly fee is £0, so opening the account and holding it open are both free. A transfer costs GBP 0 and currency conversion runs at 0.15% to 0.6% on foreign spending, the only listed charges on top of the rate. Deposits are held under FSCS up to GBP 85,000 protection.
How Plum compares
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8.7 vs 9.1
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8.7 vs 8.7- 8.7 vs 8.0
8.7 vs 9.0
8.7 vs 8.1
8.7 vs 8.7
8.7 vs 8.0
8.7 vs 9.5
8.7 vs 9.4
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8.7 vs 9.2
8.7 vs 9.0
8.7 vs 8.7
8.7 vs 8.5
8.7 vs 8.5
8.7 vs 8.5
8.7 vs 8.4
8.7 vs 8.3
8.7 vs 9.0
Where Plum is available
- Available
- United Kingdom
- Licence in United Kingdom
- Financial Conduct Authority (836158), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the Plum easy-access account pay?+
The account pays a variable rate of 3.05% to 3.65%, and the rate type is variable rather than fixed. That means the figure can rise and fall as the market moves, so it is worth treating as a current rate rather than a locked one. Same day access, no lock-in and no notice period keep the money reachable.
Is there a monthly fee for keeping a Plum account?+
There is no monthly charge: the monthly fee is £0 and the transfer fee is GBP 0. Currency conversion runs at 0.15% to 0.6% on foreign spending, which is the only listed cost above the rate. A student account can therefore sit open and be topped up without a standing charge.
How much do I need to open a Plum account?+
The minimum deposit is £1, a small amount to set the account going. Because the account is easy-access there is no term to complete and nothing to cancel later: same day access, no lock-in and no notice period. A saver can add to the balance whenever money allows.
Is my money protected?+
Deposits are covered by FSCS up to GBP 85,000 protection, with the limit stated on the fee terms. The account is run by Plum Fintech Limited, regulated by the Financial Conduct Authority in the UK, so the money sits under a named protection scheme with a stated ceiling rather than an open-ended balance.
Can I open and manage a Plum account without visiting a branch?+
Yes, the service is digital-only, and that is the only entry on its digital only list, so there is no branch to visit. Opening, topping up and taking money out all happen in the app, on the same easy-access terms with a variable rate of 3.05% to 3.65%.
How do I get help from Plum?+
Support runs on email and help centre only, so questions go in by email or into the help centre rather than down a phone line. That suits people who prefer reading an answer in writing and keeping a record of it, and it means urgent problems are handled on the same channels as routine ones.
Who is the Plum account aimed at?+
The account targets students who want a first regular savings habit rather than a large balance. The monthly fee is £0 and the minimum deposit is £1, so the commitment stays small, while the variable rate of 3.05% to 3.65% rewards money left in place.
Sources
- find-and-update.company-information.service.gov.uk/compan... checked September 26, 2026
Backs: Founded
“Incorporated on 14 January 2016”
- help.withplum.com/en/articles/9849997-plum-referral-programs checked September 26, 2026
Backs: Features
“the referral section (Earn button) will also appear in the app”
- withplum.com checked September 26, 2026
Backs: Audience, Support channels
“Plum for Students”
- withplum.com/legal/fees checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Transfer fee, Licences
“a company registered in England and Wales with company number 09897919”
- withplum.com/plum-easy-access checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“No lock-ins, no notice periods. When you need your money, you get it the same day.”
- withplum.com/subscriptions checked September 26, 2026
Backs: Currency conversion fee, Pricing model, Monthly fee
“FX fees 0.60% 0.45% 0.30% 0.15%”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.
Related by the facts
Plum
Students who want a free easy-access savings habit with no branch to visit.