{"id":518811,"date":"2020-11-13T10:47:41","date_gmt":"2020-11-13T10:47:41","guid":{"rendered":"https:\/\/ibsintelligence.com\/ibsi-news\/fintech-plum-rolls-out-new-interest-pockets-at-0-35-aer\/"},"modified":"2020-11-13T10:47:41","modified_gmt":"2020-11-13T10:47:41","slug":"fintech-plum-rolls-out-new-interest-pockets-at-0-35-aer","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/fintech-plum-rolls-out-new-interest-pockets-at-0-35-aer\/","title":{"rendered":"FinTech Plum rolls out new \u2018Interest Pockets\u2019 at 0.35% AER"},"content":{"rendered":"

\"plum\"<\/a>Money management app Plum<\/a> today announced the availability of free Interest Accounts or ‘Interest Pockets’ for its customers in a bid to offer an automated way for saving money in an interest-bearing account. The company is currently offering a rate of 0.35% Annual Equivalent Rate (AER) for anyone who opens an Easy Access Interest Pocket. This comes as an addition to the Easy Access Interest Pocket with 0.55% AER which is already available for Plum Plus (\u00a31 p\/m) and Plum Pro (\u00a32.99 p\/m) subscribers.<\/p>\n

Victor Trokoudes, CEO and co-founder of Plum, commented, \u201cWhen spending dropped during lockdown, we immediately saw deposits into Plum grow. People are taking a closer look at their finances and want to make sure they are covered in the future. While we can\u2019t predict exactly what lies ahead as the global pandemic continues, we do know that financial resilience will be critical for everyone.”<\/p>\n

“With Plum, you have the power to split your savings the way that works best for you, between our new Interest Pockets with its bank-beating interest rates, and our hand-picked investment funds. It\u2019s all part of our strategy to make sure all our customers can effortlessly build wealth for the long-term.\u201d<\/p>\n

Plum stated that money saved in any Easy Access Interest Pocket is held on Trust in an account provided by Investec. Customers who save into an Interest Pocket with Plum may be protected by the Financial Services Compensation Scheme (FSCS) in the event that Investec was to become insolvent, with the option of claiming up to \u00a385,000 of their money back where applicable.<\/p>\n

Recently, Plum announced a $10 million funding round<\/a> along with few product updates for bringing financial assistance to its customers. The round was led by Japan\u2019s Global Brain and the European Bank for Research and Development.<\/p>\n","protected":false},"author":8,"featured_media":0,"parent":0,"template":"","categories":[],"tags":[],"class_list":["post-518811","ibsi_news","type-ibsi_news","status-publish","hentry"],"acf":[],"yoast_head":"\nFinTech Plum rolls out new \u2018Interest Pockets\u2019 at 0.35% AER - IBS Intelligence<\/title>\n<meta name=\"description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally \u2013 the largest by any analyst firm in this space.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/fintech-plum-rolls-out-new-interest-pockets-at-0-35-aer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinTech Plum rolls out new \u2018Interest Pockets\u2019 at 0.35% AER\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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