To deposit money into your Lifetime ISA, you need to follow the steps below:
Select the Pockets category in the app
Tap on the Lifetime ISA tile
Press the Deposit button
Choose the source of your money - it can be either the main bank account you have linked in the app or your Primary Pocket
Type the amount of money that you want to invest (from £1.00 and up to your allowance)
Press Continue
Once the confirmation screen appears, press Done
If your money is already in Plum (in your Primary Pocket), you can just make a transfer to Lifetime ISA by following the steps above. You only need to select the Primary Pocket as the source of your money during Step 4.
Lifetime ISA - Deposit Timeframes
It's important to understand that Lifetime ISA deposits are not instant. The investment process itself takes around 1 business day to be completed. In detail:
If you have selected to deposit money from your bank account via the Direct Debit method, the money should take 4 business days to reach Plum. Once the money reaches Plum, the investment process for the Lifetime ISA will begin.
If you have selected to deposit money from your bank account via the Instant Deposit method, the money should reach Plum at the same time. Once the money reaches Plum, the investment process for the Lifetime ISA will begin.
If you have selected to deposit money directly from your Primary Pocket, the investment process for the Lifetime ISA should begin instantly.
Please note that if the money is available in Plum before 17:00, on a business day, the deposit process may be completed by the end of the same day. If the money reaches Plum after 17:00 or at a non-business day, the deposit process will be initiated on the next business day.