I like these reviews of modern financial products, they're often hard to find among the mass of advertising for the big banks, and nice to see someone trying to give the big players some competition. Nice honest review.
Really excellent video. I've just joined Plum and, like you Stu, was very nervous about how it functions. But your explanation makes me feel a lot more comfortable. It was also good that you showed us precisely how your savings and investments were benefiting you. Many thanks Stu.
From the normal account, takes a couple of hours to enter your bank account. With the investment account, takes about a week for it to settle - like most stocks and shares ISAs 👍
Interesting video stu! Just signed up and looking forward to seeing how it goes. Incredibly easy and clean to set up with just using my biometric finger log in for my bank, it pretty much did all the hard work for me. guess it's like the saying...look after the pennies and the pounds will look after themselves.
I was a bit hesitant at first but you realise that even if it took something you couldn’t afford (which it won’t because It learns what you can afford) you can withdraw it back anyways
Great review!! Food for thought. I'm equally as rubbish with saving, but having 2 kids doesn't help with that. If there is money in the account it just gets spent, so this may a good way to squirrel away a few quid and access it once a year.
Very well explained, I’ve just downloaded this app. Completely new to stocks and shares, my guess is let money accumulate in the account and when you reach an amount you consider a good return, pull it out and transfer to a savings account?, your thoughts?
Thanks for this; I was also skeptical and paused the automatic deposits after a bit. I'll re-enable them now though, also might give the investment feature a go :)
Just set up monthly allotment into a mutual fund (100/mo) or other retirement vehicle and you'll be a millionaire by the time you retire. Obviously, you'll need to increase it with inflation, promotions, etc. But the most important thing... start today!!!
@@jbrown840considering that your investment is spread out over many companies it is unlikely unless you pick a single sector like gold ETF. Better to pick small cap, mid cap, energy, financial ETF with no-load.
Ireland has just started getting ads for this app so I guess they're expanding. And the privacy alarm bells and sirens are deafening. They merely want access to all my purchase history / banking info and each month they'll take some of my money and stuff it on their own books. So they want act like a bank (in that they take my money) without offering much else. Oh but it's so pretty and convenient! Yeah and they can snoop through my transaction history and spam incessantly to sell products for utilities, loans, insurance, supermarkets, petrol stations and whatever else crap they can get a commission from. Big red flags all over it.
Just because you have savings in your plum account doesn’t make you any better off. If it not protected it’s not safe Also this guy says he’s useless at saving, yet he clearly lives in a really nice house. ? that’s because he works for Plum.
Would be good if you could explain the AI. Form what you showed it looked just like a random number generator, plucking a random amount from your account. That’s not very AI. Does it do things like analyse your expected bills so it doesn’t take too much? Or predict future bills too, so doesn’t take too much?
My bad! At the moment it’s only available in the U.K., but I believe they are looking to expand to the rest of the EU this year. Not sure about US, but keep your eyes peeled 👀.
Hi Stu I know you've done a video on the Echo studio which I found very interesting I have since bought one but you barely touched on the hub part of of the studio is there any chance you could go into a bit more detail as I am struggling a bit thank you very much Raymond Hindle
Not really! It makes it a pretty simple setup and explains things quite thoroughly! I think the point here is it makes it easily accessible to everyone 👍
Great video Stu... I signed up to Plum a week ago and I have been looking for an uncensored user review like yours. Unfortunately me and the Mrs have a joint account... so I have to get her seal of approval too... hopefully I’ll have it by Saturday haha. #Time4aPint 💯
I don't really think this is for me. I save in the beginning of the month when I just got my paycheck and I regularly check if I need to change my bank account to get a higher intrest rate. Maybe I'm just to sensible about my money 🤓
This man maybe Jeremy Clarkson's brother.
We'll never know.
I just subscribed to plum and was a bit confused ! But this video has so explained it to me ! This is so perfect for me ! Thanks !
What if I want to unlink my bank account from this service what do I do ? Will my money be returned helpppp
I like these reviews of modern financial products, they're often hard to find among the mass of advertising for the big banks, and nice to see someone trying to give the big players some competition. Nice honest review.
Really excellent video. I've just joined Plum and, like you Stu, was very nervous about how it functions. But your explanation makes me feel a lot more comfortable. It was also good that you showed us precisely how your savings and investments were benefiting you. Many thanks Stu.
How easy is it to withdraw money from Plum?
Does it have to be at a specific amount before you can withdraw?
From the normal account, takes a couple of hours to enter your bank account. With the investment account, takes about a week for it to settle - like most stocks and shares ISAs 👍
fjffhjdidifgdod
Interesting video stu! Just signed up and looking forward to seeing how it goes. Incredibly easy and clean to set up with just using my biometric finger log in for my bank, it pretty much did all the hard work for me. guess it's like the saying...look after the pennies and the pounds will look after themselves.
It’s been 3 months, what’s your progress like ? I’m interested to get plum !
Its been a year. Howve you got on?
Did you not have to pay a monthly fee among ofter fees for the ability to use the investment feature?
Which account choose when I want investing Isa or general account?
I was a bit hesitant at first but you realise that even if it took something you couldn’t afford (which it won’t because It learns what you can afford) you can withdraw it back anyways
This is an excellent review! Thank you sir for this! Much appreciated! 🙏🏽
Sounds ok but im confused you kept saying money i never had before but you must of had it before or it couldn't of taken it out of your bank surely.
Fair point- what I mean is it’s not money I would have had saved up, if it weren’t for the app 👍.
can you transfer between savings and investment accounts in plum
How do you access your money if they take direct debit etc from you I understand saving how that works ... how do we access the funds saved ??
Great review!! Food for thought. I'm equally as rubbish with saving, but having 2 kids doesn't help with that. If there is money in the account it just gets spent, so this may a good way to squirrel away a few quid and access it once a year.
Very well explained, I’ve just downloaded this app.
Completely new to stocks and shares, my guess is let money accumulate in the account and when you reach an amount you consider a good return, pull it out and transfer to a savings account?, your thoughts?
Another excellent review Stu. Just signed up and so did the Mrs. Many thanx
A great job fella enjoy the beer 🍺👍
Thanks for this; I was also skeptical and paused the automatic deposits after a bit. I'll re-enable them now though, also might give the investment feature a go :)
Just set up monthly allotment into a mutual fund (100/mo) or other retirement vehicle and you'll be a millionaire by the time you retire. Obviously, you'll need to increase it with inflation, promotions, etc. But the most important thing... start today!!!
Bass Dojo what if the mutual fund goes bust
@@jbrown840considering that your investment is spread out over many companies it is unlikely unless you pick a single sector like gold ETF. Better to pick small cap, mid cap, energy, financial ETF with no-load.
This scares me because im worried i might have really small amounts of money stolen from me without me noticing
Thanks for the review, Stu! You've put me at ease and I'll definitely use Plum now :D
Let me know how you get on! 👍
Ireland has just started getting ads for this app so I guess they're expanding. And the privacy alarm bells and sirens are deafening. They merely want access to all my purchase history / banking info and each month they'll take some of my money and stuff it on their own books. So they want act like a bank (in that they take my money) without offering much else. Oh but it's so pretty and convenient! Yeah and they can snoop through my transaction history and spam incessantly to sell products for utilities, loans, insurance, supermarkets, petrol stations and whatever else crap they can get a commission from. Big red flags all over it.
Hey Stu,
Very cool app. Thanks for sharing.
Question: Are there any commission fees for the investments?
Thanks again!
Duane
No there isn't, it's completely commission free. There is a £1 or £2 subscription fee per month depending on whether you go normal or pro.
How much percentage do you put into your account and how much into Investments?
Been doing about 50% even split, although the investments have been pretty good so far, so encouraging to put more in.
I can't wait for this to be rolled across the EU
Just because you have savings in your plum account doesn’t make you any better off.
If it not protected it’s not safe
Also this guy says he’s useless at saving, yet he clearly lives in a really nice house. ?
that’s because he works for Plum.
It is now protected by the FSCS 👍
@@StusReviewsUK Yeah but not the FSA.
It is indeed regulated by the FCA and covered by the FSCS 👍
@@StusReviewsUK well that makes it possible pretty good.
What happens if stocks go down, say market crash ?
Then you’ll lose money! But that’s the nature of the stock market… you can’t have the benefits without having the risk
Won’t let me log in ?
Would be good if you could explain the AI. Form what you showed it looked just like a random number generator, plucking a random amount from your account. That’s not very AI. Does it do things like analyse your expected bills so it doesn’t take too much? Or predict future bills too, so doesn’t take too much?
Apologies if I didn’t make it too clear! It analysis your spending and works out what you can afford to save by itself 👍
Stu’s Reviews Thanks for that, sounds good. Likewise review good, always helps having concrete example numbers!
Any update Stu? Howve you got on with the investment side? Cheers
If my money goes up , can I withdraw it or keep it there ?
Did I miss the part where it was said that this is UK only? Can't find anyway to download the app even outside uk...
My bad! At the moment it’s only available in the U.K., but I believe they are looking to expand to the rest of the EU this year. Not sure about US, but keep your eyes peeled 👀.
@@StusReviewsUK Will be testing it when it's available 😀
Thanks for the review stu, I was nervous to start with but after seeing this video I’m definitely going to give it a go!😅
Hi Stu I know you've done a video on the Echo studio which I found very interesting I have since bought one but you barely touched on the hub part of of the studio is there any chance you could go into a bit more detail as I am struggling a bit thank you very much Raymond Hindle
Why do they need to know your home address ?
Because it’s a financial service. My guess it’s to do with gov regulations on savings and ISA accounts.
Nice video mate thanks 👌🏼I love how we always weigh up things in pints 😂🙈
So important to measure by pints of beer 👌👌
@@StusReviewsUK 🍻
Watching this review, I'm now gonna go subscribe to plum and invest 100 quid and start the saving too. Thanks
I like the gameboy colour in the back 👌
Thank you for a great review 🙏
Do you not need to know a bit about investment banking before you get involved in this ?
Not really! It makes it a pretty simple setup and explains things quite thoroughly! I think the point here is it makes it easily accessible to everyone 👍
I like your green Gameboy colour.. 👌🏽
Great video Stu... I signed up to Plum a week ago and I have been looking for an uncensored user review like yours.
Unfortunately me and the Mrs have a joint account... so I have to get her seal of approval too... hopefully I’ll have it by Saturday haha.
#Time4aPint 💯
*BEARD GROWTH INTENSIFIES*
s and p 500 gives 7% returns
I watch this exactly a year ago today because new year new me I want to save LOL
I don't really think this is for me. I save in the beginning of the month when I just got my paycheck and I regularly check if I need to change my bank account to get a higher intrest rate. Maybe I'm just to sensible about my money 🤓
You need to shift your camera, I spend most of the time checking out your whiskies :) Laphroaig was my first home. Oops.... good video btw.
😂 gotta love them whisky! If you didn’t know already... I actually talk more about them in my monthly Patreon episode 👌🥃
This guy loves a pint
Who doesn’t?
Ok, Stu. Giving it a go....
do they charge fees?
Ese Bollybolly No