After you sign up a few things will happen:
We will set up a Direct Debit Mandate on your linked bank account. You will receive an email confirmation for this as well. The Mandate needs to be approved by your bank before Plum can start setting money aside for you, which can take up to 5 business days. The Direct Debit will appear on your statement as 'Plum'.
Plum will fetch your transactions for up to 90 days in the past and analyse them.
After that, Plum will start regularly tucking money away for you. Each time deposits are calculated, Plum will fetch your latest balance plus any new transactions, so these always reflect your most up-to-date financial status.