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Users of money management app Plum complain they can't get at their money


Red faces at Plum as users of the money management app take to social media to complain that their money has ‘disappeared’ after a week of technical problems

  • Plum automatically analyses spending and sets aside a certain amount of money
  • It does this every few days and users can adjust how much is siphoned off
  • However users have complained money is stuck in between their bank and Plum
  • This means they cannot get at the money as it still shows as ‘pending’ in Plum
  • The app suggested it was due to technical problems which stemmed from an IT migration 

Money management app Plum has apologised to customers who were left frustrated after a series of ‘technical problems’ left them unable to see their balances or withdraw their money.

A number of negative reviews have been left on review site Trustpilot since the end of last month, with one piece of feedback left on 27 November saying the app had failed ‘every time’ to transfer money back into their account.

Problems were compounded by the fact users have had to go through Plum’s chatbot for assistance, with one Trustpilot reviewer describing it as ‘impossible’ to speak to anyone at Plum.

Plum is a money management app which automatically analyses your spending and sets aside a certain amount of money

Plum is a money management app which automatically analyses your spending and sets aside a certain amount of money

Plum, which has around 650,000 users, is one of a new breed of money management app. It uses an algorithm to analyse your spending and set money aside from your bank account every few days based on what it believes you can afford to save.

This money is held in a compartmentalised account within Plum, and users can adjust how much they want the app to set aside.

However, users have recently reported money disappearing into something of a twilight zone, complaining that the money is somewhere between their bank account and Plum, and has been described as ‘pending’ for several days.

As the money has not technically reached Plum, they cannot opt to withdraw the money back into their bank account and use it, even though the app’s website says you can ‘withdraw anytime’.

Thisismoney has contacted Plum for comment. 

One review, left by a user named Natasha six days ago, said: ‘I have over £200 of my money that is not available and floating around somewhere. It has left my bank but not yet reached Plum. This was deposits from over 10 days ago and I keep being told it will be a short delay.

’10 days is not a short delay, also I have not received any reassurance that I will be receiving this money.’

Since 27 November a number of negative Trustpilot reviews have been left against Plum, with users complaining they can't get their money back

Since 27 November a number of negative Trustpilot reviews have been left against Plum, with users complaining they can’t get their money back

Another review left on 27 November, said: ‘My last five deposits are still pending even though one some of them stated it should have cleared 10 days ago, my car insurance has now expired and I have no way of paying for it, phone number doesn’t work, no response to messages.’

A third review left on Trustpilot four days ago from a user named Lucy Helena, said: ‘Really liked Plum to begin with. But I’ve had money withdrawn from my account and not deposited into my Plum account.

‘I now need that money and have bills that cannot be paid because Plum isn’t depositing the money into my account when it says it will.’

Reviews along similar lines have been left as recently as this Wednesday. The reviews have likely resulted in Plum’s average score sitting at 3.5 out of five, with 16 per cent of reviews being one star.

Its rating on Apple’s App Store sits at a higher 4.7 out of five, but in recent days some users have also left one star reviews complaining about similar issues.

According to responses left to the negative Trustpilot reviews by Plum itself, the delays have stemmed from ‘a series of technical problems’. In one reply, there was a suggestion the technical problems are due to an IT migration from one e-money provider to another.

The app said technical problems were to blame, with a suggestion the seeds of the problem lay in an IT migration from one e-money provider to another

The app said technical problems were to blame, with a suggestion the seeds of the problem lay in an IT migration from one e-money provider to another

Plum is currently listed as a distributor of electronic money on behalf of Luxembourg authorised e-money institution MangoPay.

It said in its reply to a review left on Tuesday that it was moving from MangoPay to London-based open banking platform Railsbank, in a bid to allow you withdraw funds at any time and sooner.

Plum’s reply added: ‘To get you on to this faster service, we initiated a migration to the new e-money provider which has been taking longer than expected.

‘We expected this would be done over the last few days with no negative impact. Unfortunately, this was not the case.

‘Whilst the funds remain secure with our partner, we understand that these kinds of technical failures aren’t acceptable and while we always do the most we can do upfront to avoid them, unfortunately, sometimes they do happen.

‘You should have access to all your funds by Friday the latest.’

This is Money has contacted Plum to ask if the issue has been resolved.

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