NJ2 Posted September 12, 2018 Share Posted September 12, 2018 This company is either making cash from taking a cut (apparently not), selling your data and/or spamming you with you adverts. Link to comment Share on other sites More sharing options...
Christophe Posted September 12, 2018 Share Posted September 12, 2018 “Any money you save with Plum is not protected under the FSCS” ...haud me back Link to comment Share on other sites More sharing options...
DA Baracus Posted September 12, 2018 Share Posted September 12, 2018 This whole thing is where Egyptian jakies live A pyramid scheme Link to comment Share on other sites More sharing options...
pleslie99 Posted September 12, 2018 Share Posted September 12, 2018 If u want to save, send me your money and I will look after it for you no questions asked..... Link to comment Share on other sites More sharing options...
Adam Posted September 12, 2018 Share Posted September 12, 2018 There’s loads of these about at the minute, wouldn’t touch them with a shitty stick. Would imagine they have your money in an account earning interest on it, which would indicate why it is free, but as a poster above alluded to your cash is not protected under FSCS, which is a big no no. Would generally advise people to give these new schemes a wide berth. Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted September 12, 2018 Share Posted September 12, 2018 Where are my Plum savings held? When Plum sets money aside for you, it is moved from your bank account and held in an e-money account, which is held and administered by our partner, MangoPay. They are regulated to hold your money as an 'Authorized Electronic Money provider'. This e-money account is not FSCS protected, but is subject to strict European regulation, meaning that in the unlikely event that Plum, MangoPay, or the bank should go bust, you will get your money back. You won’t earn interest on your balance (we're working on this!) but you can put the funds to work by investing them, or withdraw them when you've met your goals. I'm not sure what can be said about a money siphoning saving app which names its assorted parts after the pictures you get on puggy reels, but carry on if it makes you feel better. Link to comment Share on other sites More sharing options...
RandomGuy. Posted September 12, 2018 Share Posted September 12, 2018 Hard to see where the risk is with handing your bank details to a company who actively goad you into encouraging other people to hand over their bank details over, all without being approved by any financial conduct authority. Sounds totally safe and should be actively encouraged IMO. Link to comment Share on other sites More sharing options...
ICTChris Posted September 12, 2018 Share Posted September 12, 2018 I wonder who the first poster to start a Herbalife thread will be. Link to comment Share on other sites More sharing options...
DA Baracus Posted September 12, 2018 Share Posted September 12, 2018 Just now, ICTChris said: I wonder who the first poster to start a Herbalife thread will be. Not sure, are there any Championship players on here? Link to comment Share on other sites More sharing options...
Joey Jo Jo Junior Shabadoo Posted September 12, 2018 Share Posted September 12, 2018 4 hours ago, Miguel Sanchez said: Now the important thing to say, is that this is not pyramid selling. You're doing pyramid selling? No, not pyramid selling. I can't believe you're doing pyramid selling. Let me assure you that this isn't one of those shady pyramid schemes you've been hearing about, no sir. Our model is the trapezoid. Link to comment Share on other sites More sharing options...
D.A.F.C Posted September 12, 2018 Share Posted September 12, 2018 You must be from the future.Hello to you from the future!We have savings accounts and 5k tvs. Link to comment Share on other sites More sharing options...
jamamafegan Posted September 12, 2018 Author Share Posted September 12, 2018 Hard to see where the risk is with handing your bank details to a company who actively goad you into encouraging other people to hand over their bank details over, all without being approved by any financial conduct authority. Sounds totally safe and should be actively encouraged IMO.The only negative thing I’ve heard about Plum is that it can be annoying by messaging you all the time - however that’s easy solved by turning the notifications off. There’s no goading as well - you made that up. Link to comment Share on other sites More sharing options...
Bert Raccoon Posted September 12, 2018 Share Posted September 12, 2018 If you use your card a lot then a good way of Saving is setting up Save The Change which rounds up card payments to the nearest pound and deposits the change in your savings account which can be set up with a actual, regulated bank rather than allowing a company like this to access your bank account and see all aspects of your income and spending habits. Sounds dodgy as f**k to me. Link to comment Share on other sites More sharing options...
parsforlife Posted September 12, 2018 Share Posted September 12, 2018 Is taking your income, paying your nessesairy bills, use a little bit for entertainment and saving the remainder really that difficult? Link to comment Share on other sites More sharing options...
RandomGuy. Posted September 12, 2018 Share Posted September 12, 2018 33 minutes ago, jamamafegan said: The only negative thing I’ve heard about Plum is that it can be annoying by messaging you all the time - however that’s easy solved by turning the notifications off. There’s no goading as well - you made that up. They pay you if you get others to hand over their bank details. If a random bloke walked up to you, told you he'd save you rakes of money if you show him your bank statements and allow him access to your bank account, so he can take five pounds out every week and save it for you, before telling you to tell your mates about him and he'll give you a pound of your own money back up front, would you go for that? If you genuinely can't see the warning signs over an unapproved app desperate to get as many bank details as they possibly can, as quickly as they can, then hell mend you. Good luck getting your money back this time next year when they shut down and scamper with the all the money they've apparently been saving you while everyone who handed over the details willingly whimpers about how hard done by they've been. Be shocked if this doesn't end up like the Northern Rock thread. Link to comment Share on other sites More sharing options...
Miguel Sanchez Posted September 12, 2018 Share Posted September 12, 2018 56 minutes ago, jamamafegan said: The only negative thing I’ve heard about Plum is that it can be annoying by messaging you all the time - however that’s easy solved by turning the notifications off. There’s no goading as well - you made that up. You're quite right. An app which monitors what you spend money on and takes some of it without you knowing sounds like the sort of thing you don't want notifications from. Link to comment Share on other sites More sharing options...
19QOS19 Posted September 12, 2018 Share Posted September 12, 2018 Link to comment Share on other sites More sharing options...
tamthebam Posted September 12, 2018 Share Posted September 12, 2018 I sense some P&B scepticism... Spoiler Link to comment Share on other sites More sharing options...
DrewDon Posted September 12, 2018 Share Posted September 12, 2018 6 hours ago, Miguel Sanchez said: Now the important thing to say, is that this is not pyramid selling. You're doing pyramid selling? No, not pyramid selling. I can't believe you're doing pyramid selling. How much washing-up do you think you could do without any washing-up liquid? Link to comment Share on other sites More sharing options...
Joey Jo Jo Junior Shabadoo Posted September 12, 2018 Share Posted September 12, 2018 As long as your PIN isn't the same as your gym locker code I'm sure you'll be fine. Link to comment Share on other sites More sharing options...
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